How to Sell Life Insurance: Solving America's Debt Crisis with This Secret w/Jon Phillips Ep189
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- Опубликовано: 29 сен 2024
- Are you ready for one of the MOST impactful episodes ever on the Life Insurance Academy Podcast? Today, we dive deep into America's silent financial epidemic - DEBT.
Struggling with financial stability? This episode is a must-listen! John Phillips from Agency Rocket joins us to share insights on understanding the debt crisis in America. We also delve into how life insurance agents can be a beacon of hope and provide real solutions to consumers. Furthermore, the conversation shines light on the power of cash value in life insurance policies and demonstrates how software like Agency Rocket simplifies the process for both agents and consumers.
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Let's tackle debt and chart a course towards financial freedom!
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About the Life Insurance Academy Podcast
The Life Insurance Academy Podcast is a Top-Ranked insurance-focused podcast with an expanding global audience of avid listeners. The weekly podcast takes you out of the classroom and into the conversations of top-producing agents in life insurance sales so you can level up your business. Subscribe wherever you listen to podcasts and follow us on Facebook, Twitter, and Instagram at @LifeInsureAcad.
About the Life Insurance Academy
The premier training and coaching academy & online resource for insurance sales. The Life Insurance Academy trains agents and agencies around the world to help grow sales, scale business, increase profit, and expand impact. While navigating through LifeInsuranceA..., you’ll find podcasts, video courses, downloadable tools, and supporting sales resources. Content covered includes prospecting, leads, how to approach your clients, proven sales processes, top-producing presentations, effective pricing strategies, closing techniques, client care, sales psychology, agency growth strategies, and much more.
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Wow. This is insanely awesome.
Great news everyone.
As a New York Life agent we have access to that software (Guide Me).
Also as an agent I also speak with people about what’s called Being your own banker (it’s an actual book).
Is this accessible on New York life's website?
@@Push_41 if you are an agent with the company yes. If your from outside, no.
How can i join your company?@@Jack_of_1_Trade
What if the insurance company goes belly up at least your money is f d I c insure at bank
banks go belly up about 100 to 1 compared to mutually owned insurance companies lol all companies that this software is compatible with have been around for over a century and have strong financial ratings
13 years vs 29 is powerful, especially when you consider that in general, your income will go up in those 13 years.
Really like this process! I have my license. I sent several emails to Sean & Jon with no response. Can you help?
This is some real powerful information
I really don’t mean to throw salt, but this didn’t need to be almost an hour long. I’ve worked for New York Life as well now with Transamerica. I think that it needs to be mentioned upfront that for this to work with in a relatively short time. There needs to be a significant upfront lump sum payment made, or significant monthly premiums need to be paid in order for the cash to accumulate, regardless of whether or not, it’s a stock company or a Mutual company. Question is how does a single dad or mom with kids barely getting by do that and what happens to debt payments in the mean time…? 🤷🏽♂️
Don't worry, man... you didn't throw salt......you just Salt Baeded the topic. But I cringed when he said to deposit the money to the policy instead of the 401k.
@@edgonzalez186
True dat… would never tell someone to do that, regardless of securities license or not.
@dblant7764 It's easier to apply that $200 to a pay down a non mortgage debt. What he is talking about is the Infinite Banking Concept...
@dblant7764 I think you would be shocked i work with people all the time to help them pay off debt using sort of this strategy these two clearly didnt know what they were talking about but my point is that 99% of the time im able to have people completely debt free in less than 6 years without them needing to increase their current income and without it even adding a single dollar to their current monthly expenses and there is only about 10 companies total that you can use for this none of which are stock companies but all of my cliets are able to have cash value available to borrow against after 30 to 60 days because 90% of every dollar they pay into the policy goes straight to cash value through the PUA rider and i have only had 1 out of my last 30 clients that front loaded it with a large amount the other 29 their monthly expenses didnt even change at all from what they were when i met them. Its a shame these two were so clueless because their software is amazing they just dont really know how shit works at the level they should
well im glad you asked so i work with the type of person you just described every single day and if your familiar with the software or if you watched the presentation then you would know that the money to fund the policy comes from money that is already being spent in their current budget that is redirected so the only requirement for this to work exactly like they showed is that a person must be making some sort of overpayment already towards their debt and then you continue having them make the minimum and redirect the overpayments they are making plus anything they may be paying towards a current term policy as well as anything they may be contributing towards any retirement accounts. my average client finds between $1k and $1.5k that they are already spending every month to redirect and it doesn't take very long at all to build up if you are with the right company and know how to design the policies. for example at $1k/month redirected thats $12k in the first year total premium paid into the policy and with the right carrier and proper design they will have over $10k of that available the very first year. so it very much matters both who you use and how you structure the policy. I would be more than happy to hop on a zoom and show anyone who is interested exactly what im talking about!! just let me know!!
It is like refinancing and you take that money to invest or improve your home. You're using it to its full potential as an asset. If the rate is lower than your credit card rate you are putting money in your pocket. This was gold! Roger you are the man for making sure there is full transparency. So there is no dips and it's only an upward trend for monies in 2nd account?
I would not advise taking a policy loan to spend on improving your home unless its a home your about to sell otherwise its a liability and its generally a good idea not to use policy loans on liabilities. food for thought. however if you are flipping the house then your will be making an immediate return that you can use to pay off the loan and repeat the process thats how you maximize the full potential of this as an asset.
This is phenomenal education and marketing content!!
I am a LIcensed Life Insurance Agent from Ontario Canada, how can I become a part of Agency Rocket
pay $150/month
I’m not an agent but can I access the debt reduction tool?
yes for $150/month anyone can
I would love for one of you gents to show me a life insurance policy that grows at a guaranteed 5% lol
I'm from canada, are participating whole life has been average 6.25% (equitable life of Canada) with dividends paid out consistently for the last 100 years. buwhen we do these presentation we tell them at about 4% so we can under promise and over deliver. A person on My teams UL policy has been averaging 19% over the last 5 years but that's higher risk because its based off of funds. So its definitely possible if you find a good agent and a good mutual company.
@@xxMarshallcaxx Im not familiar with Canadian policies i was referring to the US and I was also referring to the IRR and it sounds like you are talking about the average rate of return not net of fees?? also I said Guaranteed never said it wasn't possible for one to grow at that just that it would never be guaranteed.
I keep hearing stay away from I.u.L
Iul is an awesome product but like he said it has to be structured properly.
listen to that advice IUL is a shit product i don't care what anyone says, its not so much that its a terrible product as it is how its marketed and sold for income in retirement and that is what you need to stay away from. i truly believe that if everyone could really manage to see the truth and full picture of what IUL is they would pick whole life almost every single time way less risk and variables than IUL, all an IUL is, is an options strategy the carrier buys call options with the general fund and they either execute a trade or expire thats how you get your upside potential with your downside protection and you can go do the exact same thing yourself and not be capped and you would be far better off. and its an options strategy paired with freakin the most expensive product their is annually renewable term insurance and when you take income in retirement and then have a down year before your 75 and the over-loan protection rider kicks in or worse yet 2 down years in a row and your over leveraged and your net amount at risk gets to high your policy will implode. google IUL lawsuits there are hundreds of thousands of them and then google whole life lawsuits. Your Welcome!
I'm assuming this can be done within an IUL, too?
Just got to that section, thank you.
@@DrBrandonSchultz Generally it's good stuff what they are saying. However, I have some issues with Whole Life policies since someone with such policies having a critical, chronic, or terminal illness might not be covered. This will depend on the company where you have this policy. Also, I learned your beneficiary does not get the cash value plus the dead benefit. You get either of them depending on the company. Can you guys clarify for me?
@@enyongemmanuel8362 So...could it be more beneficial to use an IUL?
@@enyongemmanuel8362 this isnt built to serve as a death benefit. if your goal is to give a beneficiary a check when you die, there are more straight forward ways of doing so. this is for debt, not death.
@@enyongemmanuel8362 It depends on how the policy was done. Some of them have an increasing death benefit that only increases because of the cash value going up.
This sounds good once I get licensed I will buy one of these policies
How much is the commission for the agent
The commission is payed to the agent (financial professional) by the insurance company and does not come out of your (the policy owner) pocket. You as the consumer don't pay us. We (financial professionals) get paid a percentage (it depends on the carrier and who the agent is coded with) of the annual premium
@@gregoryambrose6643help me try to follow what you just said. If your commission is paid out of the premium, who is paying the premium? Let me know which insurance company is paying our premiums and I will purchase thousands of them. I am in agreement with the bank on yourself practice but I’m not getting where you’re coming from.
25-75% of the first year premium of the insurance portion of the premium (not cash value) depending on their contract with the carrier
infinte banking whole life policys pay less to the agent than standard Whole life insurance because of PUA's. Agents only make commission of the Base. Check Chris Naugle to learn more about that.
it really depends 100% on how they design the policy if they design it in the clients best interest it cuts the agents commission by more than 90%
Great content 💯
Straight scammin
how so? please explain??