FAQ

What is TheBloomStrategy and how does it relate to the Infinite Banking Concept™?

TheBloomStrategy is rooted in the Infinite Banking Concept ™ and it uses
participating whole life insurance as a financial tool for building a personal banking system.
However, it is customized by Canadians for Canadians.

What is participating whole life insurance?

Participating whole life insurance is permanent life insurance which gives you the following:

● Insurance which covers you your entire life
● A guaranteed death benefit
● A “savings account” or “cash value” that is guaranteed (even if the stock market tanks!)
● Fixed premium payments that never go up
● The potential for cash dividends.

TheBloomStrategy uses an insurance company with a track record of paying a dividend
every year for over 80 years.

Why do many advisors and experts say that whole life insurance is a bad investment?

This is because they are comparing it to an investment with a specific yield. Whole life insurance has
traditionally been sold on the basis of the “death benefit” with cash values growing very slowly.
TheBloomStrategy is rooted in the principles of the Infinite Banking Concept™ and
focuses on the “living benefits” that this type of product can provide when used as a personal
banking system.

Why aren’t more advisors talking about this?

This is because they don’t know about it. We estimate that only about 1 percent of advisors understand
the principles that TheBloomStrategy is based on.

What are the differences between term insurance, universal life insurance and participating whole life insurance?

Term life insurance covers you for a set period of time and not your whole life. Once this term is
up, your premium increases or the policy expires. Term insurance has no cash value build-up and
can’t be used for TheBloomStrategy.

Universal life insurance is a permanent life insurance product. In a universal life policy, you are
invested in mutual funds or other investments that may be directly tied to the ups and downs of the
stock market. There are no guarantees and for this reason it is not recommended for TheBloomStrategy.

A participating whole life policy, on the other hand, allows you to participate in the earnings of the
insurance company which can be paid to you in the form of dividends. Your cash values are guaranteed to
increase and are not tied to the risks of the stock market. The only surprises you’ll get are the pleasant
ones you find in your annual statements.

Why are the premiums for participating whole life insurance more expensive.

Premiums on participating whole life insurance are traditionally more expensive because you are insured for
life and the death benefit will be paid out. However, the premiums for participating whole
life insurance stay the same throughout your life, unlike term life insurance premiums that go up as
you age.

Is it true that the cash values within a participating whole life insurance policy grow tax-free?

Yes! Canada’s Income Tax Act section 148 (3) says that assets in a life insurance product
accumulate free of annual taxation. Not only that but the death benefit on your life insurance is
also paid tax free.

What are the benefits of using TheBloomStrategy?

● Grow your wealth safely and predictably – even when markets tumble
● Build a retirement income you can count on
● Finance cars, vacations, business, home improvements, education and more
● Create an emergency or opportunity fund
● Access your capital when you want, for whatever you want
● Design a financial legacy for your children, grandchildren, or favourite charity
● Take the guesswork out of financial planning

Do I need to be insurable to implement TheBloomStrategy?

No you don’t. However, you do need to have an insurable interest in somebody that is insurable.
Like your children, a family member, a business partner, or key employee etc. What’s important is
that no matter who is insured you still have ownership and control of the policy.

What is the age limit to start a policy?

There is a Chinese proverb that states “The best time to plant a tree was 20 years ago. The second
best time is now.” The earlier you start TheBloomStrategy the better – however, many people start
policies in their 50s and there are options to issue policies up until age 85.

Where do I find the money to start TheBloomStrategy?

You may be wondering where to get the cash to fund TheBloomStrategy. At Bloom Strategies we
are experts at restructuring your finances and we’ve got at least 5 ways to free up your money.
Have a talk with us and we’ll show you how get started.

How much does it cost to start TheBloomStrategy?

TheBloomStrategy is specially tailored for each person, family or business owner and there is
no set amount that you need to put into your strategy. We don’t charge a fee to review your
situation or to design a plan. If you decide to use the strategy, we get paid a commission from
the insurance company.

Why should I use a Bloom Strategies authorized advisor?

TheBloomStrategy is a licensed proprietary product that requires a trained Bloom Strategies
advisor. If your policy isn’t designed correctly it could be a costly experience. We highly recommend
using a Bloom Strategies authorized advisor.

What happens if I cancel the insurance policy?

We don’t recommend it but you can cancel at any time. Each policy will always indicate
a cash surrender value. This is the amount that you can expect to receive if and when
you decide to cancel the policy.

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