The RICH MAN's ROTH - Life Insurance Illustration Effectively!
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- Опубликовано: 17 авг 2015
- Wonder how to read that confusing illustration? Want clients to understand the benefit of the policy? Watch this video to learn more!
visit: www.LISacademy.com for more details
I can't believe you just have these offered for free. Thank you.
I understand that you've a clear purpose for referencing withdrawals from permanent policies. I hopein the future to view other videos where you express the value of loans as opposed to withdrawals, and what that can mean to the client. Very good video.
I can see how this type of presentation would be helpful, especially if you throw a few life examples into it. Hey Mr. Prospect, suppose your baby daughter needs college help. Well, by year 18 you've built up somewhere between $100k and $150k in Cash Value that you can tap $40k to help her out.
Good information, thank you.
Great video and tips, I have fund very useful when a presentation of numbers and comparisons are presented. Keep it up!
Thank you. Appreciate the kind words! Wish you all the best.
Definitely comprehensible
My question is when you do the withdrawals, the illustrations say the client still needs to put premiums in at age 71? Is that an error? The client stops paying premiums at age 65. If they were to do withdrawals, they would have to keep paying premiums?
Excellent presentation. Do you have any discussions on prospecting?
Brian Newton dont start with warm market. They will never buy off u cuz they want u to fail
Yes. kingkhon is right. People’s sole purpose once they have already been approached and showed valid interest in life insurance is that they want you to fail. Huh??
keep more videos coming!!! Great ammunition!!! ;)
ammo?
I seen how to explain A life insurance illustration to your client.
i just subscribe😜
So you are still contributing the $6,240 annually while withdrawing the $17,000? So all you are doing is withdrawing your premium money tax free. The net is $10,760 that you are actually withdrawing, and that comes from the $218,400 you already paid in the first 35 years. I know you are using this video to teach agents, but I personally am trying to learn how to understand the illustration as a consumer. So at age 100 you paid in $405,600 (6,240x65 years) and withdrew $510,000($17,000x30 years retirement) all while leaving a death benefit of $301,000.
Basically (based on this illustration) pay in 405,600; use $510,00 tax free for yourself (a net of roughly $100,000) and leave behind $301,000 to your heirs tax free. So that's basically $811,000 worth of benefits for $405,600. Double what you pay in but when you take into account inflation and the fact this is based on the non gurenteed side I don't know if this really figures that well. Maybe I'm wrong about all this but as an uneducated consumer that is how I understood this presentation. Not putting this down but just pointing out concerns I would personally have.
Guaranteed*
just1294 Its typically effective to illustrate premiums stopping at target retirement age, letting the cash value accumulate for 5-10 more years while the client is living on other retirement savings, and then showing withdrawals from the policy later on to help supplement their other savings. Then you're showing pure withdrawals without any premiums. The illustration used in this example is not a limited pay policy with those capabilities, but was likely chosen because any agent should have a regular guaranteed whole life policy in their arsenal so it casts a wider net.
The money is secured and will probably Appreciate at a greater rate then inflation. Also you’re forgetting you have the death benefit so if you die two years into the policy your heirs are entitled to 500k then and there. It’s not as much of an investment vehicle as it is a hedge. Hopefully you’re using other vehicles in addition to receive a faster and great rate of return.
The dividend or interest rate is all smoke and mirrors. The man is paying $30,000, over the first 5 years, but less than $15,000. goes to cash value. The insurance does have a steep COST.
I'll agree halfway, Raj. Insurance does have a COST, but not always a STEEP cost as you say. Also, if a client were to pass away 1 year or 5 years into the life of the policy, would the family complain about that so-called STEEP cost? In my experience, anyone who has life insurance and something happens to their health has ever said that they have TOO much life insurance or that the cost was TOO high...
@@trisTOM I hear you loud and clear. If we are talking 5, 10, 15, even 20 years, term life is relatively cheap.
@@rajbeekie7124 Cheap, but you probably get nothing back for it. I'd rather my premiums buy me at least something.
@@s.kylejohnson7816 Okay, if that is what works for you.
It’s all relative to the need. Different policies for different needs. Ask questions. Understand the problem and find the best solution.