I like the IBC concept. I agree the GVUL and IBC are miles apart. If someone is intrigued by the GVUL "investment" option they.should read Nelson Nash's book. I've done something similar with term insurance and a tax efficient margin account at IBKR. I don't pay income tax on the gains and the money stays invested when I access cash via margin loan. It provides a lower portion of available cash than high cash value WL, but the "cash value" earns a better long term return. When I die, the account gets passed on to my heirs at a stepped up basis, wiping out the LTCG tax liability.

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