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Posted 02 December 2013 - 10:21 AM
Interesting! Thanks for sharing. I've learned over the last few months to not trust the bank! Your money would be safer in your own home than in a bank!....and that's sad.
Posted 04 December 2013 - 07:36 AM
This is very interesting. I had never heard of this before. Thanks for bringing this over to us . I will be researching this a little bit more.
Posted 04 December 2013 - 07:46 AM
That is very interesting indeed. The only thing though is it seems that economic crash is looming on the horiizon; matial law, crash of the dollar, money grab of the peoples bank accounts will also spell stock market crash. Then no stock will be safe. JMO
Posted 04 December 2013 - 08:04 AM
I've known this as a Modified Endowment Contract or a MEC ! You can also use a VUL Variable Universal Life contract that can keep it from becoming a MEC and save you taxes.
Posted 04 December 2013 - 03:34 PM
FYI : From a GOOGLE Search. Most of the searches said this was an insurance instrument.
"I’m pretty sure Tom Dyson is chattering about some kind of life insurance here, well not just ordinary life insurance (that makes sure your family’s not impoverished if you die), but probably a precise class of permanent life insurance that is called “whole life.” Rather it’s more of a wealth protection and tax savings policy.
Whole life insurance is typically an arrangement between you and the insurance company, where they promise to pay you an assured sum when you are no more. And the contract never expires as long as you are making the payments."
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