How Policy Loans Work | Devin Burr

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[@joecusick2293]

Brilliant!!!

[@Mr_brrrr]

Thank you! I appreciate the love

[@aaronc6819]

way 2 break it all down sir

[@Mr_brrrr]

Thank you Aaron. Glad you liked it

[@carsonfontaine2944]

Great video! What brand t shirt is that?

[@Mr_brrrr]

Thank you. The brand is Ash & Erie. It's a clothing company for men under 5'8"
I generally need to wear a large because of my chest and shoulders. In regular clothes large are too long on me. This company fits perfect.

[@NavigateYourVentures]

Are you able to write off the 92,000 interest from your policy?

[@Mr_brrrr]

I'm not a CPA so double check with your tax professional. To my understanding yes, because the funds are used for business purposes the interest due to the insurance company can be considered a business expense.

[@teepee-]

Mr Brrr you’ve mentioned something about where your money goes first right, and that place is a policy but then how do you actually use it because a policy isn’t a bank right, so am confused if maybe there’s an actual card maybe for the policy (am 17 I don’t know nothing about this but am trying to learn)🙏🏾🙏🏾 reply

[@scheby5348]

Typically to take out a loan it's done through email with the insurance company. You send them an email and they release the funds to your chequing accounts. It's really easy. For mine it takes about a week to release the cash.

[@Mr_brrrr]

yes, @scheby5348 is correct. You take out a policy loan. You can do it on their website or over the phone.