What is the “Infinite Banking Concept” (and is this strategy really legit)?

https://retipster.com/25 Earlier this year, I started educating myself about something called the Infinite Banking Concept. There’s a lot that goes into it (not something I can explain in one paragraph), but in essence, the idea is to stop using banks and third party lenders to meet your financing needs and instead, build your own banking system inside of a whole life insurance policy, where you’re able to lend the money to yourself, and then pay the money back (with interest) to your policy. When you borrow money this way and actually pay it back (the same way you would if you were borrowing it from a conventional lender), the net result is that you can ultimately keep all of the money you spend on interest by funneling it into your own banking system. While it sounds like a fairly

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