A policy loan lets you borrow against the cash value of your whole life insurance policy on your own terms. In Episode 019, the 2025 holiday episode, Nicky P, Luke Tatum and Rob Brayton share what they actually used theirs for this year: car repairs on a small policy, business travel, a year's worth of beef, property taxes, income taxes, insurance premiums and a small Bitcoin purchase. Along the way they explain why you finance everything you buy, one way or another.
“Your need for finance exceeds your need for life insurance protection during your lifetime.”
To close out 2025, Nicky asks Luke and Rob about their favorite tool, the policy loan, and what it helped each of us do this year. Luke starts with a quick explanation for anyone new. Infinite banking means using dividend-paying whole life insurance to fund the things of life and manage the big expenses that come and go, because whatever rates do, you're going to need to finance things.
What We Covered
Nicky's small policy. Nicky goes first because his policy is the smallest and newest. He pays about $50 a month, and in the few years he's had it, at least once a year a car repair has come up that he didn't have the cash for. Instead of asking a lender for a personal loan, he used his policy.
You can start small. Luke says many people assume infinite banking is only for the rich, with premiums of $40,000 a year. It isn't. The cost of insurance depends on age, the company and the design, but you can start fairly small. Luke's first policy was even smaller than Nicky's.
Rob's year. Rob used policy loans for business costs, including bringing his family along to a Nelson Nash training this year. Every year his family buys a cow, so they run that cost through the policy and repay the loan over the year. He did the same with his property taxes, which are about the same each year. When Bitcoin dropped, he took a $500 policy loan to buy some.
“There is none of that. There is the, here’s the paperwork and they’re gonna go, where do you want it?”
Where does your money go first? Luke says we aren't against Bitcoin. The question is where your money sits before you buy it. If it goes from a bank account into Bitcoin, those dollars are gone. If it goes through a policy first, the policy keeps doing its thing while you pay the loan back, and the credit is there to use again.
Paying income taxes with a policy loan. Luke's main use is income tax. He pays quarterly, so he takes a policy loan to pay one quarter's taxes and repays it as he earns over the next quarter. There's an interest cost, but his cash value keeps growing while the loan is out. Paycheck withholding gives the IRS an interest-free loan and gives you nothing back. Luke also notes he's a part owner of the mutual company that holds his policy.
You finance everything you buy. Luke says you're financing things even when you pay cash, because the money you spend could have been earning for you. Rob calls that the whole premise of IBC: capture and keep more of the income that flows through your hands. Nicky adds that a savings account paying about 0.5% trains people to think keeping money is pointless.
“Every dollar that I have, it’s either I can retain it or retain as much of it as possible, or I’m gonna have to pay interest to somebody on it.”
How the wealthy use assets. Luke uses Elon Musk as an example: he doesn't keep his wealth in a bank account. He has assets, and banks lend to him against them. Luke's point is that the same idea works on a smaller scale. If you're paying $250 a month for term insurance, that same amount could go into a dividend-paying whole life policy with a mutual company that you can borrow against.
Your need for finance. Luke pulls out Nelson Nash's Becoming Your Own Banker: your need for finance exceeds your need for life insurance protection during your lifetime. Rob adds that $2,000 a year in savings, put into a properly designed policy, becomes an asset you own and can list on your financial statement. Nicky also makes Luke pull out his own book, Between The Lies.
No loan approval. Luke also used policy loans to pay his homeowner's and auto insurance once a year and spread the cost over the year, instead of paying extra to pay monthly. Nicky's favorite part is that there's no approval process. You ask for the loan and tell them where to send it. Luke calls it a contractual right, and Rob likes that money he repays is available again within days.
Key Takeaway
None of these uses are exotic. Car repairs, taxes, insurance premiums and groceries are expenses everyone has. The difference is where the money sits before it's spent, and whether it keeps growing for you along the way. If you want to see how that would look with your own expenses, that's what we help clients map out at Perfect Spiral Capital.
Key Moments
[1:00] Nicky's Small Policy and Car Repairs
[2:00] You Can Start Small
[3:00] Rob's Year: Business Travel and a Cow
[6:00] Where Does Your Money Go First?
[8:00] Paying Income Taxes With a Policy Loan
[10:00] You Finance Everything You Buy
[14:00] How the Wealthy Use Assets
[16:00] Your Need for Finance
[19:00] Luke's Year: Taxes and Insurance Premiums
[23:00] No Loan Approval Needed
“You are financing stuff every time you spend money.”
Related Episodes
Episode 020: What Will We Use Policy Loans For in 2026? Cars, Business Costs and Thinking Generations Ahead
Episode 040: The Five Roles of Banking Nobody Taught You (And How to Become the Bank Owner)
Episode 017: Are Life Insurance Companies Safe? Mutual vs. Stock Companies, Reserves and Private Equity
Want the full conversation, including the story of Rob's cow? Listen to the full episode and grab the free toolkit at PerfectSpiralCapital.com/podcast.
FAQ
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A policy loan is a loan from the insurance company that uses your whole life policy's cash value as collateral. Your cash value stays in the policy, and you pay interest on the loan. Policy loans are typically available without a credit check or approval of how you use the money, though terms vary by carrier and policy.
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Generally, anything you like. In Episode 019, the hosts describe using policy loans in 2025 for car repairs, business travel, a year's worth of beef, property taxes, quarterly income taxes, annual homeowner's and auto insurance premiums, and a small Bitcoin purchase. They repay the loans over time so the money is available to use again.
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No. Nicky P pays about $50 a month for his policy and still uses it for car repairs, and Luke Tatum's first policy was even smaller. The cost of insurance depends on your age, health, the company and how the policy is designed, so it's worth talking through what fits your budget.
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Because money you spend can't keep growing for you. Luke Tatum's point is that you finance everything you buy: either you pay interest to someone else, or you give up what that money could have earned. With a policy loan, your cash value stays in a properly designed whole life policy and keeps growing on a contractually guaranteed basis while you repay the loan on your own schedule.
Show full transcript
Between The Lies: Episode 019 Transcript
How Did IBC Work for You This Year? [0:00]
Nicky P: All right, everybody, as we round out 2025, I thought one of the best ways to close out a year in this podcast was to talk about what our favorite tool of the policy loan helped each of us do this year. Welcome to the Between The Lies Podcast, your weekly lesson on how to approach an uncertain world with positivity and balance.
I'm Nicky P here with my good friends and money brains, Luke Tatum and Rob Brayton from Perfect Spiral Capital, as they help us navigate the snares and pitfalls in a world of trust me bro economics. Stick around to the end of the video for their free toolkit and be sure to like and subscribe if you enjoy what we do.
Gentlemen, how did IBC work for you this year?
What Infinite Banking Is [0:00]
Luke Tatum: Well, Nick, I think the first thing I wanna do on this episode is say, you know, I received a lot for me this year, but also what we're talking about is the infinite banking concept. So somehow this is your very first time joining us on the podcast. Rob and I are infinite banking concept practitioners.
We're talking about using cash value, life insurance, specifically whole life insurance, to. Sort of fund the things of life, you know, to manage the ups and downs, the huge annual expenses, you know, that sort of thing, that come and go. As interest rates go up and interest rates go down, like the thing that you can count on is you're gonna need to finance stuff.
And so the question is how do you do that? We have an answer to that, you know, and I think that we can provide some concrete examples here of how we have done that and what the advantages of that are. I've got lots to say, but, Nick, you said you kind of wanted to go first talking about yours.
Nicky P: Yeah, Luke.
Nicky's Small Policy and Car Repairs [1:00]
Nicky P: So I thought it'd be good for me to go first because I've got the smallest and the most new account, I guess. So not a lot to do with mine. I think to say what I spend like 50 bucks a month on my policy, so it's not the biggest policy in the world. That being said, in just a few years I've had mine, it has at least once a year.
I've had some type of car thing that I've just not had the money to cover, and it's been awesome to have that policy loan or that, you know, cash value there that I can utilize. Take care of myself as opposed to having to go and try and find a loan from someone who doesn't wanna gimme a loan. Because, you know, cars break down all the time.
You know, what are the personal loan rates I'm gonna get on something like that.
Luke Tatum: I,
Nicky P: I,
You Can Start Small [2:00]
Luke Tatum: I love that because, well, for a number of reasons, but let me just say like, a lot of people will think about IBC as a rich thing, a rich person thing. You know, we, you gotta have. Thousands of dollars a month, you gotta pay $40,000 a year.
You know, you gotta have these huge amounts of money, but, it's really not true. I mean, you know, your cost of insurance is going up as you get older. It costs a certain amount to have an insurance policy. At all, depending on the company and the structure and all these things. But, you can start pretty small, like generally speaking.
And my first policy, Nick, is even smaller than yours. So, you know, there's something to say for that. But, Rob, I mean, what have you done with your policy this year?
Rob's Year: Business Travel and a Cow [3:00]
Rob Brayton: Where do I start? We've, I think 2025 was a big year in terms of really looking at how to. Properly utilize my system of policies as a cashflow management system.
So we used it for a lot. I used it for some business expenses, meaning, took the family with me down to the Nelson Nash, coaching Academy training that I went to earlier this year. So finance some of that for those things. We use it for more simplistic things too. Like every year we buy a cow.
We have a big family and we have beef. So what we'll do in those cases is instead of that money just being paid out in cash, we will put that, you know, whatever it amounts to a thousand, $1,500 or whatever, and we put that into the paid up additions, and then we just repay that loan over the course of the year and reuse it again the next year.
It's a great way for us to earn. Dividends for the rest virtually, and cash value the rest of our lifetime off of our food. Right. Now granted, would I recommend that for your groceries? Well, there for the right person maybe, but, those are some of the more, I guess smaller things. Yeah. Or even quarterly.
Right. I do know people that. Live in more remote areas that will go drop a lot of money at a Costco or something like that every three months. It's a great way to put that to use.
Nicky P: I'm a little interested what cow you're buying for, you know, a thousand to 1500. That's usually what a half a cow goes for up here, but,
Rob Brayton: Well, it was, it was more than that.
It was just another, so the cow appears like
Nicky P: 2,500?
Rob Brayton: Yeah, well I, the one that we got was a little on the smaller side. It was only, I think it was only like. I don't know, 600 pounds hanging weight maybe or something. So. But we have a good relationship with some people that raise 'em and works out really well on that front.
Property Taxes and Bitcoin on Sale [5:00]
Rob Brayton: But yeah, we, I mean, more recently we've had, some taxes, property taxes. So, you know, much like I was just talking about, we funnel that money first through the policy and annually we know that it's always gonna be about the same amount. And I actually just took a policy loan on Thursday or Friday for that.
That amount that needs to be due. And it's a great way to have my taxes actually do something for me instead of it just flowing out every year. So very simple, straightforward stuff. Oh, one other last thing that I'll mention, not that I want to dominate this whole podcast of my own personal finances, but when Bitcoin was on sale, I picked up 500 bucks.
You know, I took $500 policy loan to pick up some Bitcoin when it dropped. So. I mean, not that I'm a huge crypto person, but it's one of those things where, you know, what if I do think in the long run it's likely to go upward, I felt like it was a good leveraged play to use my policy for. So yeah,
Luke Tatum: Sales a sale, right?
Where Does Your Money Go First? [6:00]
Luke Tatum: Yeah, sure. Yeah. Hey, you know, the, I'm glad you brought up the Bitcoin thing because you know, a lot of times people will look at. The traditional finance bros, right? Like, which I don't think we really fit that bill, right? We're doing something that's pretty alternative, even within the traditional finance kind of world, in that we're not leading with rates of return in retirement accounts.
We're not trying to manage your money for you. You know, we're, we're not doing the standard financial guy stuff, but, we do sell whole life insurance, which is the oldest financial product that there is. And so that tends to be associated with, you know, the traditional money world. And you don't really, like, you don't wanna play that game.
You wanna get into cool new stuff, AKA bitcoin, a k, a crypto, right? And so, but we're not anti that. You know, I've owned plenty of crypto and stuff. It's like just, it's a question of where your money resides and before you go do something like position. A large lump sum into Bitcoin. Where does it go first, right?
Does it go into a bank account and then you buy Bitcoin? In that case, you have lost those dollars forever to get the Bitcoin right? If you put it in a policy first, that policy is gonna keep doing its thing. You just kind of pay that back, and then it's a line of credit. It's available again, use it again.
Paying Income Taxes With a Policy Loan [8:00]
Luke Tatum: And I also love what you said about. The IRS and paying taxes, you know, your property taxes, things like that. 'cause that was a big eyeopener for me. Right. This is the primary thing I use my policy for. So I'm kind of, you know, gonna tell my stuff now. But the primary thing I use it for, I have to pay a whole heck of a lot of income taxes.
And we have a state income tax and federal income tax. Property taxes are a joke. I could pay that. Like it's nothing here. Okay. But, you know. Once upon a time, we lived in Texas where property taxes were thousands and thousands of dollars every year. It's just, it's just not that way in Arkansas. So, but if you've got taxes and you kind of know what those are gonna be, again, where does your money reside?
Do you wanna give the IRS an interest free loan every year, every paycheck, you know, however you get paid, whatever your operation looks like. If you're, you know, getting a regular paycheck, are you withholding? Maybe you put it in a policy first and then just use your policy to pay the income taxes at the end of the year, right?
Or quarterly or whatever you have to do. I have to pay quarterly. And so that's the major thing that we do is, oh, I gotta pay a bunch of income tax. You know, I made money this quarter, shame on me, so let me pull some money outta my policy. And, you know. Make the IRS happy, but then over that next quarter, so for example, right, take out a big loan in Q2 to pay Q one's taxes, and then as I make money over the next quarter, what am I doing?
I'm repaying into the policy so that I have that money available again. Is there an interest cost? Yes, but my policy is also earning a dividend while I'm doing that. Right. My cash value's going up every day while I'm doing that. That is not true of paycheck withholding. Okay. The IRS does not care.
Nicky P: That was the big thing I wanted you to focus on with that too, is to say.
Reversing the Interest-Free Loan [10:00]
Nicky P: It's, you know, whatever you give the government that free loan, this is like twice opposite. 'cause it's not even like, you're not just giving them a loan. You're actually accruing interest yourself on that money while it's there, as opposed to, so if you, if you swept it. Back from them to you, and they'll back the other direction entirely.
You Finance Everything You Buy [10:00]
Luke Tatum: Right? It is a much, much, much better arrangement for it to be kind of, you know, under my control. I don't, you know, I'm not the guy in the president's chair at the insurance company, but I am, I'm a partial owner of the insurance company because I have a policy with them because they're mutually owned.
That's how it works. That's why we do this, right? And so I'm in a great spot. I get to self-finance to pay those things. You know, you are financing things, even if you have the cash to pay them. We keep plenty of cash on hand. Right. That's a common misconception and that took me forever to understand.
But, just like we were talking about this morning, in our morning meeting today, guys, I mean, you know, it's, you are financing stuff every time you spend money. It's just a question of. You know, are you earning interest or not? Right? If it, if you didn't spend the money, it could earn money for you. If you spend it's gone.
Therefore, your interest cost is what you could have earned, right? Every dollar that you've failed to enslaves a dollar that gets away. That's right. That's right. We should do a whole thing on The Richest Man in Babylon and all stuff that, that would be really fun. We could do a whole episode on that.
Capture and Reclaim Your Income [11:00]
Rob Brayton: I mean, that's the whole premise of IBC though, right?
Capture and reclaim more of your income that flows through your hands and, and then you're still able to, then, you know, those dollars are being put to use. They're always earning for you, but then you're also able to use it as you need to because like you just said, everything is financed. Whether you grasp that truth right away or not, it does take some people a little bit of time to grasp onto that and, but once it clicks, and once you see.
Every dollar that I have, it's either I can retain it or retain as much of it as possible, or I'm gonna have to pay interest to somebody on it. Once that, once you get that. It really changes your outlook and, and you're like, okay, how do I set the system up so I can flow more of my income through there, and retain more of it for the long run and still go do all the things I was gonna do anyway.
What Your Savings Account Pays [12:00]
Nicky P: Well, a thing that you mentioned today during the morning meeting, Luke, was you mentioned like, what's the interest rate on your bank account? And this is how this specific little nugget is how they train us all to get used to. Dealing in debt as opposed to keeping our money. Our money. It was what 0.5%?
Like is the return on keeping your money, keeping it in the savings account so you're trained to Oh, well, keeping it is just wasting, but it's not ma earning me anything because it's not earning anything. Might as well just get rid of it, whereas this is boom cloud back, or No, we're gonna make that money work for us.
And then when you get used to that and what that really feels like. It's a game changer because it's just something you've never felt before. If you've been playing the traditional game
Luke Tatum: And, you know, there's so much, we could easily turn this into a really, really long, really technical episode. Right. 'cause we're all finance nerds and, you know, love to get into this stuff.
But like, it's just,
Nicky P: I've been watching that Tom Bilyeu guy, with his podcast and his story I think is a lot like all of ours in, it's like, he's like, I had a way that I. Then I learned economics, and then I had the way in that actually understand the world. He is like, and for him, the one, the one thing, the difference between the every man and the people that have wealth is assets.
You're not taught how assets work and like the modern, like the normal finance system, like they don't want you to know about assets the minute you understand assets and what has value and how to keep that value.
How the Wealthy Use Assets [14:00]
Luke Tatum: All bets are off. You know, people, a lot of people will look at somebody like, I'll just pick on Elon Musk.
Right. Huge net worth. Right? And they think, oh, this guy just has all this money, and like, does he have more money than me? Yeah, of course. But he doesn't have, like, it's not just a, in a bank account. Right. To your point, he has assets.
Rob Brayton: It's always at work. Right.
Nicky P: Technically the way the people who don't know, the way Elon Musk works is he has the value that he has within his company, and then every time he runs outta money, he goes and asks the bank for a loan.
And because he has assets, they will give him the loan no matter what, because they only know he is good for it. Or they take his assets
Luke Tatum: And then he just pays off his loan. And they would love to take his assets. They would love to take them. You know, it's a great arrangement for him. You could look at that and say, well, that's not fair.
I'm not a billionaire. I'm not a trillionaire. They're not gonna do that for me. Guess what? They will. If you start changing some of the actors around a little bit here, what if instead of the bank, it's the insurance company? What if instead of I don't have any assets, you do have some assets, right? Like all it takes is just.
Term Insurance vs. a Policy That Works for You [15:00]
Luke Tatum: Shifting your understanding a little bit, and then you're like, wait a minute, you know, I'm already paying $250 a month on life insurance premiums. What if I started paying the same $250 a month into a cash value dividend participating policy with a mutual company where I own the company because I'm paying that money?
Right. If you have a State Farm or a, you know, Allstate, you know. Term life insurance policy. It's not doing anything for you. It's protecting in case you pass away. That's it. And I'm not picking on those companies. They're huge, well capitalized companies. Right. But, they're not. Teaching you to finance things.
They're not teaching you to use the assets that you have to do the things you want to do. They're just teaching you, well, you know, what, if you pass away tomorrow? Right? They're following the standard life insurance sales script that I was trained on, that, you know, basically everybody is trained on to get into the industry and.
Your Need for Finance [16:00]
Luke Tatum: There's something wrong with that. As Nelson Nash would say, you know, I'm gonna, I feel like I do this all the time. I'm gonna grab my copy of becoming your own banker, right? As Nelson Nash would tell you, your need for finance exceeds your need for life insurance protection during your lifetime. What does that mean?
Rob Brayton: Absolutely. It does what I mean,
Luke Tatum: That just means maybe. You should position some of your assets to do the things you need to do. Right. And it, what
Rob Brayton: Well, and, and I think to your point, Luke, and, and even what Nick was saying earlier, it's a lot of times we're thinking like, oh, well I can't go out and acquire all these assets.
Start With What You Have [17:00]
Rob Brayton: But the thing is you can, and you start with what you have. If you're currently saving, let's just say somebody's saving $2,000 a year. If that $2,000 a year was repurposed into a dividend paying whole life insurance contract with a mutual company, like, well, what we do with people that's now an asset that you own and you can list it as an asset when somebody is looking at your financial system.
And a lot of times people don't realize that. So, those that. Money that then is there. And, and this is, I think the biggest challenge that I think a lot of people have is that they look at it as an expense, but it's not actually an expense. It is a, an accumulation of capital that will take place over time and you will have access to that capital that is many times as you theoretically want to use it for, if your cashflow situation allows for it, as it continues to grow.
And, and you can do that. It's not something that is, oh, this money is gone and I will never get it back. No, it like, you have access to this and it's going to continue to be available to you for the rest of your lifetime if you're the one who's insured.
Snow Tires and Car Trouble [18:00]
Nicky P: As an example of that, even with my meager little policy, this isn't the only year I've needed my, you know, account for car issues.
It seems like once a year I need to dip into that account. To catch myself from something on my vehicle, even with my tiny little policy.
Rob Brayton: We just had to use it for snow tires. I mean, it's same thing. I mean, cars are great. I mean, just if you use it for that alone, and I think it's a great example, Nick, like if you only had one just for your automobile stuff, it.
Instead of that money always flowing out, now you have something that it's actually accumulating at the same time.
Nicky P: So what's funny is it's actually, it's like a, it's actually two insurance policies and one for me, it's the in case I die. And for whenever something goes wrong, I just don't have the cash for in life, like double the insurance.
Pull Out Your Own Book [19:00]
Nicky P: I do wanna point out, so I wanna start doing something on here. Luke, you keep pulling out that becoming your own banker book, but as your marketing expert. In house, I'm gonna start making you pull out your own damn book. At least for every time you pull out, become your own banker. You need to pull out between the lies.
Luke Tatum: Okay? Okay. Hey, it's, they're both right here. You know, I pull 'em out anytime you want, but, I love both books. One is definitely more accessible.
I appreciate that. You know, I'm very proud of my book and stuff, and there's a lot more specific, information, you know, kind of my philosophy on things. I spend a lot of time talking about mindset and stuff, but that's really all we're doing right now, right? We are talking about mindset and it's such a life changer, man.
Luke's Year: Taxes and Insurance Premiums [19:00]
Luke Tatum: You get some of this stuff done. So I, I'm gonna cap off my. Things I've used my policy loan for, primarily it's income taxes, right? But, I also did take it out to pay my other insurance premiums, right? I used a policy loan to pay my, homeowner's insurance and my auto insurance, because those are big annual bills.
Guess what? I get to spread that out over the year. Using a policy loan instead of paying them more to pay it monthly. Right. It's just, it's just little mindset shifts all over the place. And we didn't even talk about investing too much, so we talked about buying Bitcoin, but like the possibilities are just endless and it's so fun.
Nicky P: Imagine capturing every $5 a month financing fee that you pay for everything to be stretched out over a year. If you could just claw back those to fif the $250 a month, you know, what's that? At the end of the year, that's 600 bucks. You didn't have that, could have gone to somebody else to finance your stuff.
And
The Ultra-Wealthy Still Finance Things [20:00]
Luke Tatum: That's, you know. The thing about being like ultra wealthy. 'cause I have some real high net worth clients, you know, that I've worked with. And the thing about being, you know, in a different, like wealth stratosphere in a different like class, if you will, when it comes to that is it's not that those guys don't have a ton of expenses, right?
It's that they have expenses with bigger zeros, more zeros at the end, right? It's just somebody else to dipping into your pocket for some other reason. They still need to finance things. You know, I have clients that, own. 50% of a hospital, you know, stuff like this, like crazy stuff that I never even thought about.
And it's like they still need to finance things and they, you know, entrepreneurs, real smart entrepreneurs, they tend to just go, oh yeah, duh, of course I want that. Right? And, and it's. People that are just following the standard advice and haven't thought to question it, that wanna fight about it, and they're like trying to prove me wrong.
I'm not trying to prove anything to anybody, you know, like take it or leave it. I know what people are doing with this stuff because I see it, you know, and these people write me Thank you cards. I don't know. I don't know. Something to that maybe, but, yeah. Anyway, you guys got anything else? I think we probably wrap it up.
We're calling this a holiday episode, so you know, I think I'll say Merry Christmas to everybody and I appreciate you being here.
Rob Brayton: Yeah. Merry Christmas and Happy New Year to everybody.
Luke Tatum: Merry Christmas.
Nicky P: We'll say to you, happy New Year on our New Year's episode when we get there. The big thing I would say like.
We're closing out this year. We've, we spent this episode looking at the past, what we've done with policy loans. People come back in a week. This next week we're gonna go the other intersection. Instead of looking back, we're gonna do what everybody's does in that first week. We're gonna look at the future and we're gonna come up with some ideas and things that we'd like to use our policy loans for in the year to come.
And I think, why am I focusing so much on policy? Because it's so much the vehicle and the important part of how the mechanics of this really work.
Luke Tatum: It's the transformative part. You know, you look at the chart of numbers, what they call the tabular detail on a life insurance illustration. You're like, wow, look, it's gonna accrue money.
I mean, shocker, right? If you put money into something, it goes up. But it's like when you deploy that, when you get the growth from the dividends and you're doing something else over here on the side and you're like, they're feeding into each other, that's when it gets really exciting and fun and people are like.
Whoa, man. How is this possible? You know,
No Loan Approval Needed [23:00]
Nicky P: For me what's even more exciting about that is that when you go to a bank, if anyone has ever taken a loan out, ever ask for money from a bank, and there's that. Am I gonna get, am I gonna get the okay for this? There is none of that. There is the, here's the paperwork and they're gonna go, where do you want it?
You're gonna tell them, and then it shows up there's, it's your money. There's no, oh, we may not, we may not give it to you. We don't think your reason is good enough for taking this. And that, that game change right there is, I mean, the negativity that's brought on by not thinking you're not good enough for something you want, for something that you need and that somehow you should feel bad about that
Luke Tatum: Don't own, don't take that on.
A Contractual Right [24:00]
Luke Tatum: Skip that. Hey, if you've got super great insights into like, let's say real estate investing, you really have an amazing business idea and you've started to put some stuff together. You don't have to draft up a business plan to prove to the insurance company that it's a good use of money. You know, to your point, right?
Just do it. If it's in there, you have a contractual right? You're the owner, you are the one in charge, and they just don't care.
Rob Brayton: Well, I think one of the great. One of the great things I love about it too is when you make a loan repayment and you're repaying those loans, like that's capital that now becomes available to you again in a very short amount of time.
And I don't, I don't mind making policy loan repayments at all because, not like if I was making a repayment to the bank, right? Where that money's gone forever. In this case, that money's it's available again in a few days. So. That's the awesome part about it is like, it's staying within my system.
I, it's not going anywhere. And, and that's an exciting part.
Nicky P: It's the question that we're gonna answer next week is, Ooh, what do I get to use this on next year? What do I get to use this on next?
Rob Brayton: Yeah.
Nicky P: Luke, why don't you, why, why don't you tell us about the toolkit?
Outro and Free Toolkit [25:00]
Luke Tatum: Yeah, you bet. You bet. So Nick, convinced me to.
You know, pull out my own book on this episode. So, you know, thanks of course again for joining us on this week's episode of the Between The Lies podcast. This was a lot of fun, kind of looking back and thinking about all the useful ways that we used our cash value in our life insurance. Looking forward to next week as well.
So, again, Merry Christmas to everybody. If you did watch this full episode though, it's obvious that you're interested in the world of money. You're interested in doing something differently in your financial life, and so. We're here to help with that. We've got a free toolkit. It's got two full video courses and a free PDF copy of my book, between the Lies and, you know, you can buy a physical copy if you'd like, but I'll give you the PDF for free.
And it's not a small book, so. Check that out. You can find it all at between, excuse me, at perfectspiralcapital.com/podcast. Just give us your email address and we'll get that all over to you, right away. We'll see you for the new year and thank you so.
