770 account

By xiexgp@gmail.com, November 20, 2013

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

what is a 770 account that bankers use to quad their money ? John O

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31 Comments on " 770 account"

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Travis Johnson, Stock Gumshoe
Admin
4799
November 20, 2013 10:05 am

It’s a kind of life insurance, you can see the details in our article here: Secret 770 Account/Underground Wealth Account Explained

arshus
Member
6
arshus
November 25, 2013 7:38 pm
This “770 account” is not more than Permanent Life Insurance with a twist – maximizing your Life Benefit and not your Death Benefit. There are many factors that need to be in place before the life insurance policy can turn into a “770 account.” It needs to be from a Mutual Insurance company (Participating Whole Life Insurance), it needs a paid up additions rider, you will need to be on the MEC line of the policy (I will explain later), and it works better with non-direct recognition, etc. When structured correctly, you will get the following benefits: No risk, Guarantees,… Read more »
AVE CINAR
Guest
0
AVE CINAR
December 28, 2013 2:21 pm

how to open a 770 account

John Kugler
Guest
0
December 31, 2013 9:37 pm

Send INFO on 770 Account to Thank You !

Leonard Koziol
Guest
0
Leonard Koziol
January 9, 2014 12:31 pm

Need INFO on 770 Acct.

Obadiah omundi
Guest
0
Obadiah omundi
January 14, 2014 9:12 am

How can I join 770 account?

Matt Brightman
Guest
0
Matt Brightman
January 16, 2014 4:17 pm

We do them all the time and are very good at them. call me at 781-398-8576

Charles Simcox
Guest
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Charles Simcox
January 19, 2014 8:34 pm

I’m retired with only a little to invest so maybe they want more up front than I can afford?

henry
Guest
0
henry
January 21, 2014 11:44 pm

please send more info
thanks

Matt Brightman
Guest
0
Matt Brightman
January 22, 2014 10:47 am

We can provide all the neccesary info such as minimums and how this actually works. Henry & Charles please call us at 781-398-8576 for some basic info.

jayesh Parikh
Guest
0
jayesh Parikh
February 1, 2014 10:25 am

send me more information and table of return incomes if possible. Do you have seminars?

MAtt Brightman
Guest
0
MAtt Brightman
February 1, 2014 1:59 pm

Its a little more complicated than that. It has to do with who the insurance is on (Age, health, etc) and what kind of money is going into the plan.

4lllls
Member
1
4lllls
February 5, 2014 11:55 pm

I am some what confused as the spiel was banks now I am seeing insurance companies. What is going on here?

Matt Brightman
Guest
0
Matt Brightman
February 6, 2014 10:48 am

Lowe, the deal is that all major banks have cash value life life insurance included as an asset class in their overall portfolios . I have the medical economics article that shows how much money certain banks hold in cash value life insurance ( which is what a 770 account concept is)

David Guzzardi
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0
David Guzzardi
February 8, 2014 9:42 pm

I am 56 years old, having just retired from a LEO career of 35 years. I am working part time currently and would like to know if this type of account, the 770 account would be something that would even benefit me at this stage of my life.

arch1
Irregular
5225
February 9, 2014 3:42 am

David; I will not hold youth against you . My long-held opinion is ‘life insurance’ is betting you die before ins.co. think you do. Other benefit is form of annuity with perhaps better benefits. I know of no sure method to even ‘preserve’ wealth in face of govt. actions for which seems to me we will have pay dearly.

Jack burns
Guest
0
Jack burns
February 10, 2014 12:10 am
I am a veteran in the insurance business. This entire thread is about the biggest crock of sh*t ever. Don’t be duped by unethical insurance agents like Matt Brightman. To understand the concept of this investment you will need to fully understand how a Modified Endowment Contract effects it. Bottom line: Prior to 1988 this “770” concept enabled someone to extract gains from their life policy on a FIFO basis. When the IRS caught wind of this they closed the loop hole. TAMARA, enacted by congress, changed this to a LIFO basis. Furthermore, once deemed a MEC, it will be… Read more »
cherylk
Member
0
cherylk
February 10, 2014 4:45 pm

Where do we learn these concepts? Then make intelligent choices? For example, Merrill Lynch?

ricky7
Member
1
ricky7
October 3, 2014 11:27 am

Not Merrill. Contact a real planner, a Registered Investment Advisor rep. or CFP.

Brokers aren’t educated in this. See The Retirement Miracle, Patrick Kelly.
Or call me. 918.809.8255. I may be able to help or refer you to a competent advisor.

Tom Beach
Guest
0
Tom Beach
February 13, 2014 11:28 am
Dear Jack, You sound like you know what you are talking about. So, I will ask you, Where you put your money to keep it growing safely and not be taxed to death? Notice that I did not ask for a plan to cheat on taxes or a way to make a killing in the market. No. What I and everyone else seeks is a way to grow one’s money by compounding and to avoid as much taxes as is possible. The trouble is that many of the schemes one reads are just pipe dreams. They are risky or blatantly… Read more »
Alonso
Guest
0
Alonso
February 13, 2014 11:05 pm

I need more detailed info on this acct. Where and how can i open one? please reply

4lllls
Member
1
4lllls
February 14, 2014 12:46 am
Jack Burns can you please tell me then why the 770 concept is even being considered for stock gumshoe? If this whole thing is hog wash can you show us the difference in before and after they closed the loop hole? Something seems a miss here as I am sure the reporting site here actually believes there is a 770 account. No one is asking to do things illegally, however if it is allowed by some it should include all of Americans that need to enhance their income especially since unscrupulous entities ave crashed and dashed the hopes of an… Read more »
ricky7
Member
1
ricky7
October 3, 2014 11:29 am

Fund it in compliance with the rules and then it isn’t a MEC.

arch1
Irregular
5225
February 14, 2014 4:03 am

In regard to post(15) by Jack burns IMHO he tells it like it is. If you have not figured it out by now it surely seems to be Govt. policy to have you die penniless or else leave nothing to pass to grandchildren. ” Them that have don’t want you to have.” Have you considered that ‘beloved leadership’ govt.class/political elites are mostly all 1%ers. Pretty exclusive club;You are not invited to join…

iceberg
Irregular
0
iceberg
February 17, 2014 11:24 pm

Term Life Ins….I’m just a simple guy.

Paul
Guest
0
February 20, 2014 6:28 pm
As Edger Arceo said on November 25, 2013 it’s basically Permanent Life Insurance with a Cash Accumulation feature for the insured that can earn income tax deferred in a Fixed Account earning an interest rate of return from 4.00%-5.00% and minimum guaranteed interest rate of 1.00%-2.00% in all down Markets or the insured can allocate the premiums into different major stock market indexes like the S&P 500, Dow Jones, Hang Seng, EURO STOXX 50 or MSCI Emerging Markets while greatly limiting your losses to a 0.00% guaranteed floors. This protects your principal from losses while others may suffer the same… Read more »
Stella Fitzpatrick
Guest
0
Stella Fitzpatrick
February 20, 2014 11:40 pm
After reading the comments made here, saying that I am confused would be an understatement. I am a 56 yr old woman….whose financial situation is not good. However, with that said, I am getting the impression that this 770 account is something that could or would benefit me in the long run. My question is how would myself and my husband who is 59 get the exact facts on this 770? Jack Burns stated it was B….s, and used letter abrevations that I had no idea what they meant….so at the end of the day….can someone who head is just… Read more »
anthony keeley
Guest
0
February 24, 2014 1:55 pm

i would like to know how to invest into 770

Dean Owen, CPA, PFS
Guest
0
Dean Owen, CPA, PFS
February 28, 2014 9:53 pm
I personally feel this is a scam. I am a CPA and Personal Financial Specialist. The scam is what you are NOT being told. Its just high commission life insurance. The “secrecy” stuff is just sales pitch, nothing more. If you want money advice, follow the advice here: http://www.dol.gov/ebsa/newsroom/fsfiduciaryoutreachconsumers.html PS – I hold life insurance license, by law, if I sell an insurance policy, I must first guard the best interest of the insurance company, not my client. The insurance company pays me, I have a duty of care to them. Go to aboutcom, look up SUITABILITY vs FIDUCIARY. http://financecareers.about.com/od/rz/g/suitability.htm… Read more »
Sean
Guest
0
Sean
March 2, 2014 8:58 pm
This is sad that even some of these ” CPA’s” & “Financial Professionals” know nothing about what they’re are talking about. This is hands down the best bang for your buck with NO RISK. I’m not going to go into great detail, but I have been in the industry for a short 5 years & running into other “Financial Professionals” who have never even heard about this is a huge disservice to the people they “help”. If you are serious about your retirement and you have some love for those around you that need help, I would love to talk… Read more »
Charlotte Nymark
Guest
0
March 25, 2014 8:32 am

Sounds a little like an Universal Life policy we had at one time years ago.

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