Chris Naugle

Because we have five grand that can collateralize that $5,000 of death benefit they're giving us.

So we're just borrowing our death benefit while we're living.

Every mutually owned life insurance company will allow you to do this.

But what I'm going to tell you next, not every insurance company does.

The five grand you had in your account, most of you, if I asked you if you had five grand and you just took five grand out to pay off visa, how much money is left in your account?

Your brain will go to what you've been taught.

You will think a bank account and you're like, well, I had five grand.

I just took five grand, so I have zero.

But in this equation, some of you read through the kind of words there, and you're like, no.

You said you had $5,000, and that $5,000 was earning 5.5% to 6%-ish, and you borrowed $5,000 of your death benefit.

So how much money is still earning 5.5% to 6%?

$5,000.

And we borrowed the money from the insurance company and paid off Visa.

Now the insurance company charges us interest.

Let's call that 5% simple interest.

And now some of you are like, oh, I knew there was a catch.

Yeah.

Remember how a bank makes money.

You give bank money.

They give you 3%.