I found that video both entertaining and educational.

 

I had to call MetLife.

 

That’s pretty slick. Thanks for the find. I’m only familiar with Crystal Ball, but that was a student license many moons ago. Very impressed.

 

IBC is a conversation that is germane to the discussion because it provides a stark contrast to the features GVUL touts. However, it also goes well beyond this. IBC is NOT an "investment" (although it shares some of those properties). If your focusing on ROR, you're missing the boat. IBC attacks, head on, the two biggest problems with money, which are taxes and inflation. Most give up north of 34% of their earnings in interest. It's not the interest rate that kills you. It's the volume of interest! It's all about how you cash flow money. The typical investor might put 10 or 20% in a qualified plan, then slug it out for a better ROR. The entire time they ignore the other 80 or 90% of their income! This is the beauty if IBC. It's about cash flow. We finance everything we buy. We either pay someone for the use of their money, or... we forfeit all future interest on our money when we pay cash... My intention was not wanting to take the thread "into the weeds", I'd encourage a read of Nelson Nash's "Becoming Your Own Banker". Again, I'm not soliciting here, but happy to clarify anyone's questions. I'm a pilot trying to share what I know. That's it. IBC changed my life.

 

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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Just looking through the materials and I'm try to find an exemption for flying outside of delta or flying experimental aircraft. This is always a gotcha in life policies but I haven't found it yet. Anybody?

 

I haven't looked through the Met Life paperwork, but usually an Aviation exclusion comes in the form of a rider attached to the policy, basically saying that life insurance doesn't cover loss if the insured was a pilot/crew in an aircraft. This rider is actually very common in most life insurance policies.

In other words, I think if an aviation exclusion rider can't be found anywhere, the implication is that death by aviation is included in the policy (i.e. it's not excluded.) I'm also curious if anyone has found anything.

 

I thought contractually the only exclusion our life insurance policy could have was if you were killed by your beneficiary

 

This is correct. I can confirm that I asked MetLife specifically about GA and was told “everything is covered except for intentional death caused by beneficiary.”

 

Buy, borrow, die. And never pay taxes 😂 What kind of rate is IBKR giving you on margin loans right now?