This YouTube transcript excerpt (speaker: Jayson Lowe) presents a dental-practice case study where, instead of using outside lenders to finance expensive equipment (an X‑ray machine), the dentist used dividend-paying, participating whole life insurance contracts to self-finance. This allowed the dentist to control repayment schedules, recycle payments back into their system, and maintain staff employment even during COVID‑19 by keeping funds within the practice.
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So for this particular dentist, what life was like in their practice before implementing the process of becoming your own banker is that when they required equipment or they needed a new operatory, they would have to utilize an outside lender. So they would have to finance that purchase. And then they were making payments back based on someone else's repayment schedule. And every payment they were making was a deposit into someone else's bank. So this was money that was leaving their, their dental practice can never be spent again, can't earn interest on it again. It's a permanent transfer of money away. After implementing the process of becoming your own banker, the dentist was able to first purchase a X ray machine, which is an expensive piece of equipment. This equipment is pretty sophisticated. And rather than rely upon an outside lender, the dentist was able to utilize their dividend paying, participating whole life insurance contracts to complete the deal. And the dentist controlled the repayment schedule of that loan. And every payment that the dentist made was a deposit back into their own system. And so they get to reuse that money over and over again. And we all know what the pain is like when you get a bad toothache. And when you get a bad toothache, you call the dentist and you say, I need help, I got to fix this toothache. For this dentist, it was a financial toothache and we were the cure. And that dentist communicated to us. Even during COVID 19, having this structure in place enabled me to keep my team members employed at the practice, knowing that we would not have to lay anyone off or take food off of anyone's table. And so the advantages are enormous. When you put yourself in a position of total and absolute control and you change the flow of the money, rather than have it flow away from the practice, have that money flowing back into a system that you own, that you control.