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

Becoming Your Own Banker: Part 6 - The Power of Dividends
In this episode, we dive deep into the infinite banking concept, discussing the power of dividends in whole life insurance policies and how they contribute to the growth of cash value and overall efficiency. We also explore the importance of thinking long-term when it comes to infinite banking and building a legacy through whole life insurance policies. By understanding the mechanics of whole life insurance and focusing on long-term growth, we can create a powerful financial tool to pass on to future generations. This process may take time, but it is essential for building a solid financial foundation and leaving a lasting legacy. Join us as we uncover the secrets of infinite banking and how it can help you take control of your finances and create lasting impacts on your life.
(0:02:53) - Understanding the Benefits of Infinite Banking
(0:08:27) - Become Your Own Bank
(0:13:05) - Power of Dividends in Insurance
(0:13:59) - Growing Cash Value
(0:31:52) - Cash Value Life Insurance
(0:36:06) - Growing Money vs. Safety of Money
(0:43:32) - Popularity of Nelson Nash Institute
(0:56:17) - The Benefits of Time-Tested Principles
In part 6 of the "Becoming Your Own Banker" series, discover how an Infinite Banking policy is engineered to become more efficient every year through dividends.
Join us as we continue the conversation about the Infinite Banking Concept through Nelson Nash's book, "Becoming Your Own Banker," today!
Full Playlist: • Becoming Your Own Banker
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#infinitebanking #infinitebankingconcept #becomingyourownbanker

[@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

[@fabiorosa8015]

Yes

[@TheMoneyAdvantage]

Thank you for watching!

[@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.

[@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.

[@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.

[@jonathanlangford4291]

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

[@TheMoneyAdvantage]

Welcome back! 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.