What Is The Infinite Banking Concept? - Part 5: What Is a Dividend?

What Is The Infinite Banking Concept? - Part 5: What Is a Dividend?
Have you heard about Infinite Banking, and you want to learn more? Or maybe you’re already using Infinite Banking, but would like to be able to explain it better to your spouse, your parents, your children, business partner, or friends.
Today, we're unpacking the dividend and answering:
- What is the dividend?
- Why do I need a mutual company for Infinite Banking?
- How does the dividend grow my policy?
- How does the dividend relate to the guaranteed and non-guaranteed policy cash value?
- What income and expenses at the life insurance company determine the dividend rate?
- What can be the difference between the dividend rates of two life insurance companies, and why shouldn't I compare them?
- What is the difference between illustrated dividends and paid dividends?
- How is the dividend applied to my policy?
- Can dividends change in the future?
- When do I receive dividends?
- What is the difference between dividend payout on the base death benefit vs. PUA death benefit?
- Why are dividends applied differently amongst policy-owners?
- What can I do with the dividend, and what is the best option for Infinite Banking?
- How does the insurance company calculate the dividend?
- Why the IRS's definition of the dividend is "a return of premium" and how does the life insurance company calculate the dividend rate?
- What is the link between the profitability of my insurance company and my dividend as the policy owner?
Join us LIVE, ask your questions, and get the clarity you need to make decisions!
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[@mc_913surge5]

I'm left with the question, if I have an existing car loan with a bank -how long will it take me to start a whole life policy and trade that car in with the new loan under the policy at 5% and not the bank?

[@TheMoneyAdvantage]

Once you have enough cash value to pay off the car loan you could then switch it over to a policy loan if that is what you wanted to do. This would depend on policy design and how/when you pay your premium.

[@zachadkins6161]

Just depends on the amount you are starting your policy with and the design. I took over my truck payments a few months after I start my second policy.