Who Used Whole Life Insurance as their own Bank - Walt Disney

Neil Smith - 21 septembre 2021
If Walt Disney did not have have permanent life insurance, Disneyland may never have been built

This is part one of three well-known businessmen/entrepreneurs who were able to start, grow or save their businesses. As a business owner, that's why you should have plenty of permanent insurance.

If Walt Disney did not have permanent life insurance, we would most likely not have Disneyland and what it has grown into over the past number of decades. 

Disney went to banks to get lending with a dream. He had a hard time getting them to buy into his dream of a cartoon mouse and duck that would one day bring people from around the world together to have the time of their lives at his amusement park.

So, he sold his second house and put up his whole life policy as collateral and built Disneyland. He was able to pay wages from his personal funds. If he did not have that permanent life insurance policy there most likely would not have been a Disneyland (or it would have taken longer to get funds because he would need partners with money and their own dreams).

Doing it this way, he was able to do it all by himself and bring his dream to life. He had built his own bank with his whole life insurance policy. How many of you have been to Disneyland, Walt Disney World, or taken your kids to Disney movies? It's all because he had life insurance that allowed him to build his dream. The policy also protected his family. Without him, his dream would not have been built as he dreamed it to be.

If you’re interested in hearing about the benefits of permanent insurance for your business or future business, go to www.neilssmith.com today or contact me for your free consultation.

 

Source: https://bankingtruths.com/awr-famous-entrepreneurs-whole-life-insurance-bank/ © 2021

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