CELEBRITIES USE OF LIFE INSURANCE
Walt was trying to start his business but had a very difficult time getting banks to partake in his vision of a cartoon mouse and duck that would bring in the masses from around the world.
The Disneyland Source Book quotes Walt as saying, “I could never convince the financiers that Disneyland was feasible because dreams offer too little collateral.”
Thankfully, he had previously built his own bank using Whole life Insurance.
The Disneyland Source Book later goes on to say, “Unfettered [Walt] borrowed against his life insurance and sold his second house just so he could develop his idea to the point where he could show others what he had in mind.
Studio employees worked on the project paid from Walt Disney’s personal funds.”
Because Walt Disney had this guaranteed access to liquidity, he was able to eventually capitalize on his dream and create a multinational empire for generations to enjoy.
During those lean years, however, his policy’s cash value continued compounding for him despite the loans needed to fund his vision.
Not only that, but his policy continued to provide valuable protection for Disney’s family since without him, profits from his dream would have certainly never come to fruition.