Tom Rutkowski, President of Innovative Retirement Strategies, Interviewed on Podcast- Discussing Private Banking

Tom Rutkowski discusses the innovative concept of Private Banking.

Questions covered in this interview include:

  1. What exactly is private banking?
  2. So which is better, whole life or IUL?
  3. I heard IUL is riskier. Is that true?

Listen to the interview on the Business Innovators Radio Network:

Tom explained: “A maximum overfunded life insurance policy is a type that allows an individual to build up far more cash value than a typical life insurance policy. This extra cash value can be leveraged using policy loans. The loans can be used for any major purchase that you otherwise might have put on a credit card. This allows the cash value to add value to your life while you are still alive. When deciding how much to contribute, it is important to consider a person’s current and future needs and ensure they are not investing more than they can comfortably afford.”

Individuals with existing policies should talk to a knowledgeable agent to see if the existing policy is capable of being over-funded. Since the goal of a maximum over-funded policy is cash value at the expense of death benefit, it is recommended that individuals should make sure their death benefit needs are taken care of before attempting to purchase a separate maximum overfunded life insurance policy. Additionally, if a person’s current budget does not permit additional coverage, purchasing a policy with a partial overfunding option is possible.

When selecting an insurance provider, it’s essential to research their financial stability and ask for a copy of their annual report or other disclosure documents. It’s best to also check for any complaints that may have been filed against the company with your state’s Insurance Department. Also, keep in mind any additional benefits such as accelerated death benefits, long-term care riders, or disability income protection that may be included in the policy.

Finally, an individual should regularly review the maximum overfunded life insurance policy to ensure it still fits their needs. Suppose they ever need more coverage than their current policy allows for. They should speak with their insurer about increasing the value or changing the policy terms. Doing so will help ensure that they and their family are adequately protected in an unexpected tragedy.

Overall, a maximum overfunded life insurance policy can be an excellent way for individuals to financially protect themselves and their families in the event of unexpected circumstances. Evaluating all available options carefully before deciding and considering speaking with a financial advisor or tax professional for assistance is essential. With the right planning, an individual can rest assured knowing that their loved ones will be taken care of should anything happen to them.


About Tom Rutkowski

Tom is a nationally-recognized expert in maximum over-funded life insurance for private banking and tax-free retirement planning. He holds an MBA in Finance from the University of Wisconsin, Milwaukee and a BA in Economics from the University of California, Irvine. He currently resides in Boynton Beach, Florida.

Download his free e-book “Life Insurance 101” to get started now:

Schedule a free 30-minute introductory call with Tom to learn more:


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