Episode 34: The Notorious "MEC" and How to Avoid It

Join David Befort and Paul Fugere on Episode 34 of the Wealth Warehouse!

When it comes to IBC, research is just as important as designing your policy properly. You need to “get” IBC as a concept and understand not only how it works, but why you’re doing it. Your goals need to align with what the Infinite Banking Concept provides.

In this week’s episode, the guys address a question from a fan that leads to a deeper discussion on MECs or “Modified Endowment Contracts”. They illustrate the importance of building your policy the right way, why you shouldn’t shy away from premiums and how to maximize the banking function of your policy.

Episode Outline:

(0:29) - Episode beginning, listener question “Is it possible to purchase a policy in one lump sum?”

(2:02) - What is the problem with a single payment policy?

(6:23) - How Paul and Dave “snuggle” up to the MEC line and how your policy can “MEC” if you’re not careful

(10:28) - “What happens if I don’t pay back the policy loans?”

(13:00) - You need to find the right person to setup your policy for you

(17:55) - Using policy loans for the sake of using loans, chasing high rates of return and the volatility of the stock market

(21:25) - Don’t get trapped by traditional options, the IBC mindset

(24:55) - Bottom line: find the right agent and don’t sweat the complicated stuff

ABOUT YOUR HOSTS:

David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money.

David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life.

Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich.

As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people.

Catch up with David and Paul, visit the links below!

Website: 

https://infinitebanking.org/agents/Fugere494

https://infinitebanking.org/agents/Befort399

LinkedIn:

https://www.linkedin.com/in/david-a-befort-jr-09663972/

https://www.linkedin.com/in/paul-fugere-762021b0/

Email:

[email protected]