INC Financial
Financial Services - Birmingham, Alabama, United States
INC Financial Employees
INC Financial Details
At INC Financial we say Wealth...Create it. Grow it. Keep it.Using our INC Wealth Strategy, we show people and businesses how to use life insurance as a private banking system and a source of tax-free retirement income.The INC Wealth Strategy is a family and multi-generational system. Josh wanted to reflect this aspect in the name of the company. That's how INC Financial was formed. The INC really stands for Isabelle and Charlotte, his two daughters. Get it? I and C?It's also an obvious play on the word incorporation. The INC Wealth Strategy emulates how large corporations and banks manage their finances, and translates the strategy into practical solutions for individuals, small, and medium sized businesses.While we are using life insurance to accomplish financial goals, we're not looking to buy a lot of insurance. We're actually looking to create cash value with as little life insurance as possible and still have the tax shelter of a life insurance policy. This paragraph from the US General Accounting Office will explain what I mean: "If a policyholder borrows the inside buildup from his or her life insurance policy, the amount borrowed is considered a transfer of capital, not a realization of income, and, therefore, is not subject to taxation. This reasoning is in accord with tax policy on other types of loans, such as consumer loans or home mortgages. These loans are merely transfers of capital or savings from one person to another through a financial intermediary. The ability to borrow against a life insurance policy means that the interest income that is supposed to be building up to fund death benefits can instead be a source of untaxed current income. If the loans are not repaid, the inside buildup will never be taxed; death benefits will simply be reduced by the amount of the loan. Thus, policyholders have the use of tax-free income for purposes other than insurance at the expense of reduced death benefits for their beneficiaries."
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