Live. Interest Free

Live. Interest Free is our marketing concept for debt elimination. Velomon has developed a unique selling system to tell the Live. Interest Free story and help our clients ease the burden of debt. For many, this is the first step to financial security.

Become Your Own Banker

The concept of Live. Interest Free is designed to use whole life insurance to build a ‘bank’. This bank then absorbs the client’s external debt allowing them to be free from creditors. This has several benefits:

Interest rates are reduced to zero. The loan comes from the death benefit of the whole life insurance policy. The amount of the loan is based on the policy’s cash value – money already invested by the owner. Since the interest paid on a loan from the death benefit is generally the same as the interest and the dividend paid on the cash value, the net result is a zero percent interest charge. Moving debt – even so called ‘good debt’ with low interest to a zero interest rate saves lots of money over time.

Money used to pay back the loan does not go to the bank, but instead back to the policy holder. Since you are loaning the money to yourself, you get the benefit of paying yourself back. This means that a purchase made from your ‘bank’ really only costs you the interest paid to manage the loan. This is a percentage of what you pay if you took cash out of your pocket.

The payback schedule is yours to determine. Unlike a line of credit, your payback terms can be whatever you desire. Since the money is secured by the death benefit (meaning if you die any money owed will be subtracted from the death benefit amount) you’ll never get threatening calls or letters if you miss a payment and you can pay the money back in any amount at any time.

Your access to funds is not determined by your credit rating. The money you have access to is determined by the cash value of your policy. The more you build up, the more you have available. It is not a $1 to $1 relationship and it changes over time, but your ability to access funds from your policy will not be determined by a banker, a credit card company, or your credit score.

The difference between compounding interest and accrued interest is a wealth building secret. Compounding interest – or the money earned over time by investments differs from accrued interest which is what you pay when you borrow money. Most people do not realize the relationship. They have been taught to save until you have enough, then buy what you need. The problem is that once you ‘spend’ your money it can no longer earn (or compound) for you. By leveraging the Live. Interest Free program, you can borrow money from your policy without having to spend it. You’ll pay a small amount in accrued interest, but your money will continue to grow – generally at a faster rate. This allows your money to do 2 things at the same time: grow and also purchase the items you need.

Marketing Resources

We have developed a series of marketing tools to tell the Live. Interest Free story. We’ve also built a website LiveInterestFree.com. Click the icons below to learn more about each marketing resource and to get your own personalized links (when available).