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The “Secret” 770 Account

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I just read a very provocative teaser (aren’t they all, though?) from Tom Dyson in his Palm Beach Letter. It talked about a ”secret” 770 Account that is taken advantage of by a huge list of the very wealthy, not to mention by banks and other financial institutions, This 770 Account gives a steady 5%interest, plus you can access your money at any time, ……and it is all tax free!! ….under the radar, so to speak. Travis, could you please enlighten us poor peons to this fabulous deal?

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70 Responses to The “Secret” 770 Account

  1. How do I get info on the 770 account. Maybe you don’t really get anything from Gumshoe FREE?

    larry

      • If you do decide to look into this ’770′ plan, please reserve more than half an hour to listen to their slow pitch. They haven’t ventured into the realm of facts yet, and I’ve turned off the sound while I wait for them to get to the ‘meat’.

        • If you X-out of the video you will get a drop-down box to get just the text and read at your leisure. Hope this helps.

    • I want info on the 770 account. From who do I get this info on the 770 account? Please email me back with information. Thank you for your response if you decide to send me one.

      • To answer the question:
        Where in the IRS code does it say that it is tax free?
        Look at the “Tax Policy Tax Treatment of Life Insurance and Annuity Accrued Interest” (GAO/GGD 90-31) – and go to page 27.

        Second question:
        Who do I contact about this 770 account?
        It has to be somebody that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There are many things that he needs to put in place so it will work like the documentary that you watched. If you DO talk with an insurance agent and he tries to sell you something, please feel free to send me an email and I will make sure he is selling you the real deal – free of charge. (Please include with your email the illustration and the plan). It is easy for me to see those contracts/illustrations and see if they are the best for the client or if it is the best for the agent. So please don’t hesitate – I love helping people.

        Or if you need help finding somebody that can make this happen, send me an email and I can find somebody in your area.
        edgar@arceofinancial.com

      • There is a book I always recommend: “The pirates of Manhattan” By Barry James Dyke. It will tell you everything about it – what it is, who uses it, how to use it, etc. There are many people that say they can open this account, but few can really give you the best for the money you are depositing into it. But if you want to just get more info on this account – you can read that book – it is cheaper than subscribing to the Palm beach letter and you will get more information – it is an excellent book. Or you can email me, and I can send you a report (similar to what you will receive if you subscribe). edgar@arceofinancial.com

        • Edgar,
          Please send me additional info. and report on the Life Policy that allows me to barrow aginst cash value. “770, Bank on yourself, ect…
          Best regards,
          David Kirkpatrick

    • Did you ever see that program ” American Greed”? If it sounds too good . Its not true. B S has made some crooks wealthy.

    • I can help any and all levels of investor build a “770 account”. Please call us, we are trying to help the whole community take advantage of the great wealth “secrets”.

  2. I have a feeling that it has to do with life insurance plans and setting them up to pay out on a regular basis, more like an endowment or annuity.

    • It is a life Insurance – with special riders and from special carriers. There are many things that needs to be put in place. You do need to set up a premium to pay in a regular basis for the first years – but you decide what kind of distribution you want – based on your present needs etc. You can just let your money grow tax deferred and whenever you need it you can access it tax free. Look at the IRS CODE – Tax Policy – Tax treatment of Life insurance and annuity accrued interest. It is all there. So you can also use the cash value in the policy to use it as collateral to get a loan – for example, if you want a buy a car. Instead of financing it through a bank OR pay cash, you use your cash value as collateral and get a loan (about 4.5%) … why? So you don’t stop the compound interest on your cash value – so it will keep growing without interruptions at a higher scale than the loan you are getting.

        • Hey Joe,
          It depends where are you located, your age and your health condition. If you would prefer, you can send me an email to edgar@arceofinancial.com. It will also depend on what is your purpose of opening a 770 account…. but if you can give me a better idea, I could mention a couple of companies.

    • Christian – you just need to contact a life insurance agent that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There are many things that he needs to put in place so it will work like the documentary that you watched. If you DO talk with an insurance agent and he tries to sell you something, please feel free to send me an email and I will make sure he is selling you the real deal – free of charge. (Please include with your email the illustration and the plan). It is easy for me to see those contracts/illustrations and see if they are the best for the client or if it is the best for the agent. So please don’t hesitate – I love helping people. edgar@arceofinancial.com

  3. It’s whole life insurance…!!! That’s it, end of story. Another way for these so-called financial advisors to get hold of some, or all, of your hard earned money.

    • that’s not the way it was explained by the Palm Beach letter, the way I understood it, I thought it was a savings account you could open with minimum of $300, they never mentioned a life insurance policy at all……..so I think your right Alan, sounds exactly like you put it!!

    • You need to contact a life insurance agent that knows about this accounts. But pay attention – not every life insurance agent know (or want) about this accounts. So if you go with them, be careful – they may try to sell you a normal whole life (or universal life) – then they do that, they will get almost all your money upfront. so you won’t see anything for the first 2-3 years. If you need help finding an agent in your area, let me know. I can help you out. OR if you have a life insurance agent, you can try to talk to him about – maybe he will know about this accounts – and you can send me the plan and illustrations and I would love to go over them and give you an unbiased opinion to see if it is what we are talking about here.
      edgar@arceofinancial.com

  4. It’s whole life insurance. With certain plans, you can get dividends from the investments and you can borrow against it (“getting your cash out”).
    If you want one, go talk to your insurance agent. Unless you have millions liquid and need to shelter them, it’s probably not worth it as an investment vehicle.

  5. ALL THE 770 IS WHOLE LIFE INSURANCE WHICH YOU CAN BARROW AGAINST AND PROCEDES ARE TAX FREE WHEN PASSED ON TO YOUR LOVED ONES ON YOUR DEATH

    • Well, this plan has guarantees. So yes. Also, it is credit protected (in most states) – meaning that a creditor can’t touch them. Even if they sue you and win the case, the cash value on this account is protected.

  6. the dividend paying whole life insurance earns annual dividend. A rider called a PUA
    is paid up additions, additional cash that you can add above the basic premium.
    At about 7 years the whole life returns the value of all you premium as permanant
    life insurance, from 7-15 years the cash value grows, above 15-20 years the dividend growth will be enough to complete the remainder of premium payments for life. This is where the policy becomes self sufficient. Policies may expire at 90 years, 100, 120 years age, one must withdraw the money approaching the contracted age. So the longest age is best. One should buy from a private mutual company, not a public stock trading company. The mutual pays all income to dividends, the public company pays some income to stockholders. The mutual companies are required to keep 3 times the face values of death benefits on reserve, they should be safest place for money outside wallstreet/washington fraud. But they will invest in the same commercial paper, stock bonds etc. The cash value of the account can be removed, called borrowing, it is actually reducing the death benefit. It can be used as a tax free annuity in this way, scheduling withdrawals as needed for income. Toward the end your benefactors will get the greater of the death benefit or the cash value, where cash value is exceeding death benefit at about 20 years. As opposed to 99% of term policies never paying a death benefit, term is 99% waste, permanent whole life is 100% saving. The dividends will be guaranteed typically from 2 to 4% guarantee, the policies are recently paying 4-6% dividends. I have two policies, when my cash value pays off my cars, I will open a 3rd policy on my life intended for death benefit for my children, my first policy is big for my banking, using my cash value interest free, my second is on my wife’s life intended to serve as her annuity income after I am gone. If I can get ahead enough I want to buy one for my children with they the owner and on their life to get them started to independence and freedom. At their age the initial cost of say 10k lump sum premium will be signficant death benefit for them to use as annuity income later in life tax free. Now I do hear and I need to confirm that dividends may be taxable when withdrawn. Therefore it is best to direct dividends into future premium payments and withdraw them last, using paid up addiitions cash first priority when making withdrawals. As I have been using this and learning I believe in it so much that I will take the insurance certification test and make a way on the side to begin selling this, as a backup income plan for the future.

  7. Hi, Phelps says it’s not worth it unless you have millions.
    My big policy, $450 permanent premium, $150 convertible term, plus $900 paid up additions cash, will pay my first car off next March. Saving me $75 a month interest waste, withing the $420 car payment the big deal is the $75 interest waste. The interest waste will then be paid back into my policy and change from waste to savings, -75 waste
    to +75 saving is $150 profit per month. Now maybe difficult for a small income but get stated with whatever you can afford. Young people with not much money don’t know how much time they have, life is long, you will need this.
    Get started however small and build on it.
    In process of self banking, reserving this property safely from government and wallstreet fraud, will change behaviors. For example one might learn that there is no benefit to say a $900 mortgage with $1500 property tax, renting rotting wood. The property tax will consume any benefit of the interest tax deduction. Instead rent at $650,
    put the remainder $250/mo plus $1500 property tax into the whole life policy. If you thought you owned that house wait for the next washington/wallstreet disaster, and see what happens if you lose your job and can’t pay the property tax. This will change everything about self destructive behaviors listening to retail finance and wallstreet.

    • I commend you, Tim. You are a straight shooter. You tell it like it is. You would be successful in the Insurance/investment world. I did it for the last five years of my career. It Does feel good to help people with planning for their futures. In five years in the business I only had two clients under the age of 24. These kids “Got it”. They were planning for their futures like most 50-year-olds do. I told them I was proud of them and, like you said, if you have more questions write them down and we’ll cover them on my next visit, or call me. If you want to make someones day, call up your insurance person and ask them a pertinent question. Believe me, they will be a friend for life because you just placed your trust in them, and that feels “real good” to a professional. If you don’t have an insurance agent, GET ONE ! Unlike what Alan said on July 18, 2013 at 9:33 am: “It’s whole life insurance…!!! That’s it, end of story. Another way for these so-called financial advisors to get hold of some, or all, of your hard earned money.” Yes, they make a living helping people out in various ways, but you’ll look far and wide to find a millionaire among them

  8. Really sovereign investors/savers really shouldn’t want this known but this should be a small audience. Let me show you what I am doing on $1500 a month, not starting with 1M. In March the 1st car is paid with my paid up additions, that $420 positive cash flow by stopping the car payment, goes to double payments on our 2nd car and finishing off
    the 2nd car one year later and elimating several years of interest waste. At March ’14 plus one year, I then have $830 free cash flow to start another policy, and this thing compounds and accelerates. I don’t imagine after that I will have new income sources to start a 5th policy or until my wife finishes her education and has a well paying job. This process forces me to eliminate all forms of waste that are stealing money away from my policy, my sovereign property. Like living 1 mile from work to eliminating gasoline waste. There are things that people can do to find money for this by eliminating wastes. The terrible wastes I know of are cable tv, boxed foods, gasoline, tires, property tax, auto insurance, utilties. I have a very efficient apartment at $63 total utilities, never waste money in home depot, distain most consumerism traps, I do waste a little at starbucks
    and moderate fast foods. I don’t carry collision insurance on the car that I drive 1 mile, I do insure my wifes car. There are ways people can do this if sovereignty is the lifestyle, the big one is stopping renting rotting wood from the tax authority ( mortgage ). I do
    put up to the company match into 401k but hate that.

    • It has to be from a Mutual life Insurance company. There are many out there – but I would just recommend maybe 4 or 5. (because of their ratings, riders, cash accumulation plans etc) You have to go through a life insurance agent (broker) that knows about this “770 accounts” – so he will determined which mutual company is the best for you (based on your age, plans etc). If you want, i could give you a list of people in your area. And I could even double check if the policy they are giving you is truly the best for you.

      Blessings
      edgar@arceofinancial.com

  9. While looking at the video/information of the 770 accounts I knew exactly what they were talking about right away, because it is something I do and it is something I recommend to some of my clients based on their needs and their future plans etc – but I am kind of mad at these companies that are putting those accounts (770) like something mystical or hidden. Like finding a pirates’ treasure that nobody knows – it actually put fears on people’s minds sometimes. They use manipulation of people’s emotions to get their interest etc.
    That is why I went ahead and put my email because I don’t think it is fair to play with people’s minds. Of course, after a while, I thought maybe that was a bad idea since I am going to be getting tons of emails asking me about these 770 accounts… but I guess I could always copy-paste my answer 
    So to answer your question, the “770 accounts” are just “Permanent Life Insurance” with some modifications to it – with special riders that some Mutual Companies offer (not all – you need to be careful)
    Now, it is not your typical “Permanent life insurance” that you get normally – like with “All State” etc. You would need to talk with somebody that knows how to convert those permanent life insurance policies into a system that will allow you to “stockpile” money unto your own policy without getting into a MEC (modified endowment contract) – otherwise, the policy will lose the TAX-FREE potential.
    But when use it correctly, your life insurance policy will work like that documentary you probably saw that presidents, big corporations, banks etc use. It will give you a good competitive interest rate, tax free distributions, it’s secure against creditors (in case they sue you etc), it has guarantees, you have liquidity use and control of your money, it grows tax deferred, it will provide you with disability protection and it will let you use your policy as a “banking system” – which many people call it the Infinite Banking Concept.
    I could tell you a lot more about it, but I don’t want you to get too bored. I know that when we normally look at Permanent life insurance, we have taught that life insurance is the worse place to put your money into – that is probably why that video hides the “life Insurance” word and switched it to “770 accounts” – because a lot of people are very close minded – more because a lot of people on TV have said that Whole Life insurance is a bad idea etc. And they are right – if you just get the typical Permanent life insurance… then it doesn’t make any sense.
    If you want me to explain to you more about it – maybe go a little deeper, let me know. Also if you have specific questions about it, you are more than welcome to email me.
    I am not trying to sell you anything – I don’t know you and we are probably far far away. I am just doing this because I got mad at that company that is using the mystical term of the 770 accounts.
    But if you would like to get with somebody that knows about this mutual permanent life insurance with all the riders that will make the policy a “770 account”, let me know – I could probably find somebody that lives in your area that can meet with you and run some specific numbers for you based on your age, needs, etc. Or if you know an insurance guy and he/she wants you to buy a policy with him/her, feel free to give me their information (as far as the company they are using and the illustration they showed you) and I can give you an unbiased opinion if it is a good idea or not.
    But let me tell you something– it is real – and what that documentary said about presidents, Walt Disney, JC Penny, all banks, etc… is real. I also have documents that prove it. So it is something I recommend a lot as an adviser.

    Blessings
    Edgar I Arceo
    http://www.arceofinancial.com

  10. To answer the question:
    Where in the IRS code does it say that it is tax free?
    Look at the “Tax Policy Tax Treatment of Life Insurance and Annuity Accrued Interest” (GAO/GGD 90-31) – and go to page 27.

    Second question:
    Who do I contact about this 770 account?
    It has to be somebody that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There are many things that he needs to put in place so it will work like the documentary that you watched. If you DO talk with an insurance agent and he tries to sell you something, please feel free to send me an email and I will make sure he is selling you the real deal – free of charge. (Please include with your email the illustration and the plan). It is easy for me to see those contracts/illustrations and see if they are the best for the client or if it is the best for the agent. So please don’t hesitate – I love helping people.

    Or if you need help finding somebody that can make this happen, send me an email and I can find somebody in your area.
    edgar@arceofinancial.com
    http://www.arceofinancial.com

  11. I just heard about this. I’m past 70 and need to retire, but don’t feel secure in doing so. Is this something that would benefit someone my age? I thought about trying to put in a small amount, maybe $2000 to see how it works. Do I have to pay a premium each month like insurance? How long do you need to keep the money in before you could draw it out if you weren’t satisfied?

    • Annete,
      To answer your questions.
      Would you be able to benefit? It depends in many factors. You will have to talk with somebody that is very familiar with this type of account and won’t be just trying to push a sale, but will truly look into your situation and will give you the best advise.

      It may still apply, but you may have to do it in a different way. I will give you an example – I just had a client who is 68 buying one of these “770 accounts”. He didn’t have the time to build his policy over the years (putting a monthly or annual premium etc). So we had to do a lump sum – a Single Premium. He had about $500,000 on the stock market, and was worry about loosing his money because of the volatility of the market and the present economic conditions etc. He needed a place to park his money, so he was going to do a CD or money market account that was going to pay him less than 1%.

      So we suggested to open this Policy with a single premium from a reputable company (rated A+, paying interests and dividends for over 100 years even on the great depression etc). And they have Guarantees (not like the stock market etc). This were the results:
      Single Premium of $500,000.
      First year he will end up with just $472,000. Now if we just stop here, then we can conclude that it is the worse investment possible. But let’s see what happened the next years.
      After 2.5 years he recapture every single dollar and have a Death Benefit of $810,000.
      After that point on, his money will grow at a rate of about 4%!! Way better than any CD or money market account. His money will continually grow tax deferred with guaranteed results for the rest of his life.

      Now, that 4% is because the interest rates are so low, but once the interest rates start going up, the interest and dividends that the company will pay are going to be higher as well. So I am hoping interest rates are going to start climbing – because then this policy will do even better than what I am describing right now.

      The bad thing about this strategy: you will loose some of the tax-free benefits. It will still grow tax deferred, but gains that exceed your cost basis (premium you paid) are taxable, BUT until the cash value exceeds the cost basis, taking a loan or withdrawal does not create a taxable event. (still much better than a CD or money market)

      But if you have specific questions or concerns, let me know. You can always write me an email to edgar@arceofinancial.com, and we can talk about your specific situation and see if it would make sense to you.

      • I forgot to answer your last question: You have a 20 day “free look” – if for any reason, you don’t like the policy, you can cancel without paying penalties. You will get all your money back.

  12. Edgar, I would like to know who in my area handles these accounts and also I would like more detailed info. Your example above on the person who wanted to skip the monthly premiums and invested 500,000 dollars left to many open questions. Try this one please. Let’s say someone wants to do the same thing; what is the least amount of money one can invest to skip the monthly premiums and how long before they start seeing a turnaround like you showed above (800,000 dollars) or course not 800,000 but what would be the equivalent and in what time frame. People starting out don’t have that kind of money. The video on 770 accounts presents it like it’s a particular bank account that you deposit money and it earns 5% interest annually tax-free. But so far with the research I’ve done, it does not seem that simple. What the real scoop? Thanks.

    • Paul,
      The turnaround was not 800,000 on my example. That was the Death Benefit you will receive. The turnaround on year 2.5 was that he was going to have the $500k he initially put in, and after that point on, his money was going to grow (tax deferred) at a 4%+ rate.
      You are right, this system is not that simple. Is not like putting money into an account and done, it needs more commitment on your part etc.
      If you want to just do ONE single premium, then you can do as little as $10k if you want.
      Now in order for you to get that 5%+ interest rate annually tax free, you will need to do a different strategy – monthly or annual premiums for a specific period of time… But if you need more information or have specific questions, send me an email. I have receive so many emails that I decided to write a letter answering ALL the questions I have received from people all over the US. That letter is a little too long for me to post it here, but I would love to send you that letter if you are interested. (don’t worry – I won’t send you any more emails after that unless you request it).
      God Bless you.
      edgar@arceofinancial.com

  13. Yes I would like to read the letter you mentioned regarding all of the questions about the “770″ account and what it truly is. I am 67 years old and I am in no way interested in anything but “safe” investments. Is this something that is FDIC insured? Truly tax-free?

  14. I also would like for you to tell me of someone in my area who handle these account.Los Angeles Ca 90002

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