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3 contributions to Wealth Warehouse IBC Community
22d •
HELOC
Looking for recommendations for a reasonable HELOC. Background: Since starting our first whole life policy in 2021, we have blossomed that into a network of policies that we use for passive opportunities, annual expenses, house projects, and our entire emergency fund. It has been a deliberate process to get here and we’ve been cognizant not to over extend ourselves with the cash value available. Dave and Paul’s weekly podcasts have eluded to HELOCs several times over the years and so we began looking at options. My first attempt was a hybrid option where the bank demanded I spend the money immediately with no separate account setup. That resulted in a thanks but no thanks on our end. My second attempt had favorable terms and I had put in several hours of work only to learn this bank doesn’t offer Lines of Credit in AK. Somewhat annoyed as my first statement to the agent was I live in Alaska and looking to get a HELOC on my property. I was about to put it on the back burner, but today during their podcast they discussed options for paying premium that made me reconsider. We shovel all monthly excess into our policy loans to ensure, if we need to, we always have our premiums covered. Essentially, our policies have become what used to be our savings account. However, since building our emergency fund, I realized we’ve only used it maybe half a dozen times in 20 years and when we do, we are extremely disciplined at recouping those funds in less than a year. Why not use a HELOC to provide ourselves with an emergency fund cushion in part, which then opens up some cash value from our policies to address the passive opportunities, annual expenses, and house projects? Happy to take spears on my thinking, or to refocus, but also if anyone has a good HELOC happy to take a community recommendation as well. Thanks!
1 like • 18d
@Paul Fugere right now it would be to have for the break glass. My thought would be if the emergency was so great that it was needed, we could simultaneously create a cash flow back to the HELOC with an opportunity using cash value from our policies. Given our discipline in paying ourselves back the exposure would be episodic. Long term I don’t believe we’d need the HELOC as our policies would mature enough.
0 likes • 16d
@Carlos Herrera thank you sir. I’ll take a look.
Aug 13 •
Tracking policy loans
I’m curious, who creates a promissory note and a payment schedule for each policy loan they take… and who just maintains a habit of paying policy loans back?
Poll
17 members have voted
1 like • Aug 20
My thinking has evolved since starting my first policy in 2021. At this moment, I essentially use my network of policies as my savings account. At a minimum all passive streams go straight to policy loans. At the end of the month, what ever’s left over gets shoveled into there as well. When premium is due (if it can’t be covered by my earned flow), I just take a policy loan. This has allowed me to reduce my bank exposure to just a checking account. My savings account is essentially useless and I’m looking for a way to get rid of it when I have a solid plan for getting cash into my economy.
Aug 14 •
Pilots
Hey I saw this on Facebook today, and thought I’d share it here. Looks like Befort did a podcast with the pilots advisor so I sure there are IBC gold nuggets mixed with other financial strategies in there. https://youtu.be/eFXavLOSSLA?is=A3E64tVFQ3k0aU_W
3 likes • Aug 20
For those that work for destination airlines, this is a great podcast to develop a long term strategy. Most airlines throw money into a 401k style plan and don’t require you to match at all. While I’d rather have that cash sequenced into a policy (I asked, they said no), I use the pilot’s advisor to manage this portion of my portfolio. When RMD time comes, all that cash will flow to policy premium, and I’ll then take policy loans when Uncle Sugar asks for his cut. It’s a great way to capture those dollars.
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Active 18h ago
Joined Aug 11, 2026