The title is weird as fuck, I know. Essentially what they are doing is taking out a life insurance policy in my name and using it as their own bank. They have their own policies and want one for me so I can do “infinite banking.”

My stepdad read about this concept in a book and thinks it’s the greatest idea ever. They’re not making me pay for the policy, they’ll be investing in it until I have proper income to do it myself.

Apparently you can use this policy as your own bank, you can take out loans and such and when you pay it back that money is still yours? The money also grows itself overtime.

I’m worried about the consequences against me. I asked about liquidating the policy so I could just pocket the cash and they said that’d be a very bad idea. I said what happens when I move to a country where the currency is very different? Apparently that’s fine if I move to a country where the currency is better than the Canadian dollar. I asked about moving to a country where the currency is “worse.” They said that’d be a conversation for the future.

If it works out then it’d be nice to have that money when I eventually move, but what else happens to me? I tried looking up a link between socialism and infinite banking (silly, I know) and I found these two articles which do not bode well:

https://infinitebanking.org/banknotes/central-banks-and-socialism-are-forever-linked-together/

https://infinitebanking.org/banknotes/4-reasons-why-socialism-is-becoming-more-popular/

I feel sick and I don’t know what to do. I want the money but I’m so scared of the consequences.