Becoming Your Own Banker Part 6 - The Power of Whole Life Insurance Dividends

[@itmagic4377]

Excellent and much appreciated. Have an appointment with Bruce. Awesome!

[@TheMoneyAdvantage]

Awesome to hear! We look forward to serving you!

[@cynthiakleyn-kennedy5881]

Watching this 6 months after posted on KZbin. Yes, I have seen the previous parts 1-5). Bought Nash book, and am on chapter 5. A lot to wrap my head around, admittedly! But you both are informative and articulate…thx!

[@TheMoneyAdvantage]

Thank you so much! Glad you find our videos valuable

[@jonathanlangford4291]

Thanks for the video. Haven't visited the channel in quite awhile. Hair looks good.

[@TheMoneyAdvantage]

Welcome back! Thank you for watching!

[@eddooley947]

Now that is a good one, 15 minute money - funny but so accurate. At the approximate 12:00 minute mark you spoke of a policy endowing. I am guessing that is just about the only way to get the death benefit without dying. Does one have to pay a premium for the entire 40, 50 or 60 year time period that one owns the policy?

[@TheMoneyAdvantage]

Thank you for watching! No you do not, there are options such as Reduce Paid-Up (RPU) that allow you to stop paying altogether, often you have to get to the 7th year to do this. There are other options to reduce your premium as well.

[@grumpus1403]

I’m new to this concept but just converted a term policy to an early cash value policy. Can someone explain how to use this cash in everyday functions? Is it used only when we want to finance a large ticket item or do we take out a loan every month for all of our expenses and pay it back each month? Your podcasts are informative but most people don’t have an hour or more to listen in. Is there a way you can summarize the talking points of each video?

[@TheMoneyAdvantage]

Thank you for watching! We suggest using this as an emergency and opportunity fund for large purchases.

[@fabiorosa8015]

Yes

[@TheMoneyAdvantage]

Thank you for watching!

[@Soldierdiaz21]

1- yes (binging the whole series) 2- no, but have the book

[@TheMoneyAdvantage]

Looks like you're all set for a deep dive into the series and the book! Just remember to come up for air occasionally.

[@livingworkingoutsidebox]

Ok now I have to go back and re-watch your new video on Dividend rates don't matter. 🤔

[@TheMoneyAdvantage]

Thank you for watching! Dividends are an important component of understanding how whole life insurance works, but it's also important not to base your purchasing decision solely on what a particular company's dividend rate is today, as they change over time.