96. Seven Myths of Life Insurance Lending in Canada

January 04, 2022 00:39:13
96.  Seven Myths of Life Insurance Lending in Canada
Wealth On Main Street
96. Seven Myths of Life Insurance Lending in Canada

Jan 04 2022 | 00:39:13

/

Hosted By

Richard Canfield Jayson Lowe

Show Notes

What are the myths of insurance lending in Canada? Jayson Lowe and Richard Canfield discuss an article from a Bank that tries to dispel 7 myths of insurance lending in Canada.

Many Canadians do not know that cash value policies are often lent on by 3rd party banks. It's actually the most popular way Canadians have been getting access to their collateral is from commercial banks.

Banks want you to borrow from them. It is that simple. They will do everything in their power to market their loan products to you so they can collect as much interest volume in the form of cash flow payments coming back to their institution. They even have special departments that focus their energy on unique cash surrender value lending products.

In this episode, Richard Canfield and Jayson Lowe ask you to think about the reasons why banks want to lend against these powerful contracts.

IN THIS EPISODE, YOU WILL LEARN:

0:00 Introduction

2:54 Myth #1: Wealthy People Don’t Need To Borrow Money

6:56 Myth #2: Insurance Lending Is Expensive

11:19: Myth #3: Clients Have To Take On More Debt

19:35: Myth #4: Insurance Lending Is Risky

24:20: Myth #5: Clients Must Go To The Insurance Company For A Policy Loan

26:46 Myth #6: Insurance Lending Suits Only Affluent Clients And Business Owners

29:42 Myth #7: Clients Don't Have To Qualify For A Loan

Get The FREE special report 7 Simple Steps to Becoming Your Own Banker –  http://7steps.ca/

Other Episodes

Episode 0

November 15, 2023 00:36:34
Episode Cover

193. Gold Backed Banking: The Best Form of Insurance

Wealth Without Bay Street 193: Gold Backed Banking: The Best Form of Insurance Heads up, Canada folks! It's important to stay informed about some...

Listen

Episode 0

November 24, 2022 00:42:44
Episode Cover

142. Dream Architecture: Build a Retirement Beyond What’s Possible with Brittany Anderson

FREE report 7 Simple Steps to Becoming Your Own Banker –  http://7steps.ca/    Wealth Without Bay Street EPISODE 142: Joining us on today’s episode of...

Listen

Episode

July 14, 2020 00:35:34
Episode Cover

19. Why Insurance Companies Are The Most Financially Stable In The World

Tune in today to listen to Jayson & Richard discuss the integral steps of Participating Whole Life Insurance Policies & how they’re beneficial.  The...

Listen