Equity Coach®
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Walt Disney, J. C. Penney, Ray Kroc and the Doris Christopher “The Pampered Chef” have in common:
They all used cash value from their life insurance policies to start, grow, or support their businesses.
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In 1953 Walt Disney borrowed against his cash value life insurance to keep his amusement park from failing! No banker would lend him the money. Permanent life insurance policies can grow cash value and can function as a private equity source. No qualifying required!
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1929 the stock market crash, retailer J. C. Penney used his life insurance policies as collateral to help meet the company payroll. His company may have been forced to close its doors, instead his cash value in his policy provided stability and equity the company needed to say afloat.
When Ray Kroc was building McDonalds, Kroc did not take a salary during his first 8 years, and overcome constant cash-flow problems he borrowed money from two cash value life insurance policies to help cover the salaries of key employees.
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Doris Christopher (the Pampered Chef) sold her Tool Company, to Warren Buffett for a reported $1.5 billion. In 1980 she launched the company out of her home with a $3000 life insurance policy loan.
In 2008 Senator John McCain secured campaign financing for his presidential bid by using his life insurance policy as collateral.
Permanent Life Insurance, accumulates cash value over time. Index Universal Life is a type of Permanent Life Insurance. Policy owners can borrow cash value as it’s readily available to cover personal, business, college or retirement, etc. to cover expenses or emergencies. Policy holders do not have qualify or be credit worthy to borrow cash from their life insurance policy.