First, there are only 4 big contenders in Canada when it comes to choosing a whole life policy that will work for the infinite banking concept.
Each one of these four companies has two version of the whole life product. While they all have different names for them, the difference lies in the early cash value available, or the increase later cash value available after about 15 years. The one company I now use mostly because of how much stronger its product is compared to the competition, only offer one type.
But for those of you who are still being sold the other types of policies, or for those who are looking for policies on kids (the company I use for adults is different than the one I use for kids), the difference between the two version is important to understand.
The Protector, Estate Achiever or Estate Builder is the version of the product that offers higher growth after year 15, but lower access to capital (cash value) in the first 15 years, and especially in the first three years of the policy.
The Wealth Accumulator or Wealth Achiever offers higher cash value in the early years, but doesn’t grow as fast after 15 years.
So depending on what you are building this policy for, you’ll have to pick the one that suits your needs best. For kids policies, the one with higher growth in the later years is usually more logical, since you’re more looking at a longer term approach.
Again, not all products are designed the same, and not one product is the best for all situations. The benefit of working with a broker, who is an expert on this concept, and wrote a couple books on it, is that you’ll get the most efficient tool for the job you want to do, not just a tool that kind of fits all scenarios.