How to Properly Structure a Whole Life Policy | UPDATED for 2022
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- Опубліковано 10 лип 2024
- Knowing how a whole life insurance policy should be properly structured is important. Whole life insurance, when structured properly, is more like a savings account on steroids than anything else. It is a tool that can make all of the investments you buy better.
Chris Kirkpatrick reveals how to properly structure a whole life insurance policy. There are many different opinions about whole life insurance. Some people like Dave Ramsey and Suze Orman will tell you whole life is horrible investment. The bottom line is that whole life insurance is not an investment at all.
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📖 Chapter Timestamps Here ⏰
0:00 Intro
2:45 BAD whole life policy structure
5:25 A traditional Infinite Banking Whole Life Policy Design
13:14 A look at a 10-90 whole life policy design
20:39 The BEST Whole Life Policy Design (if you can do it)
37:40 overview and conclusion
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🤔 ABOUT LIFE180 😃
Chris Kirkpatrick launched LIFE180 as a solution to a problem. As the director of business development for a Fortune 1000 life insurance / broker dealer, he became disenchanted with the financial industry because of the lack of education provided to clients and how "financial advisors" were really just glorified sales people.
So... LIFE180 was launched to help give relevant financial education for people to create wealth. Along the journey, LIFE180 has evolved. Chris quickly realized he was passionate about not just helping entrepreneurs on how to leverage their money, but how to build their businesses.
Over the past 5 years, Chris has spent thousands of hours mastering the art of online business development for himself and clients. In 2020, LIFE180 morphed into a full service online business launch and development agency. If you need any help creating more revenue or generating more leads online, LIFE180 can help.
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*All content in this video is for educational purposes only and is not to be interpreted as personal financial advice.
#LIFE180 #CashFlowHacking #CashFlowHacker #ChrisKirkpatrick #ColeSnell #wholelifeinsurance
I just filmed the update for the changes in the whole life market in 2023. I just took this conversation to the next level in this video, enjoy:
ua-cam.com/video/kFIboJEbIYM/v-deo.html
To set up a call and learn how whole life could work for you, use this link:
calendly.com/_life180/claritycall
I will be 50 in Feb, I am glad this info is so accessible to the masses now. I told my daughter about it and my nephews as well hoping they're smart enough to listen, time will tell. I would have loved to have this knowledge 30 years ago when the funds to accomplish it were more readily available to me than now with health issues and on a fixed income. I pray that you can help all those who will listen while they can benefit before it becomes harder to accomplish later in life.
P
Great video Chris !! I'm clicking on the (updated UA-cam ) link now. Thanks for all you do sir !!! 🙏❤🤓
Merry Christmas Chris , blessings to you and your family and may 2022 be a much better year for the world . Thank you for all you have done this year to help educate people . I appreciate your hard work very much .
Thanks! 2022 is going to be a year to elevate to the next level for us.
This is such a great video Chris, thanks for sharing.
Thank you. Between your content, and Dr. Jakes content and Nelson Nash books I feel beyond blessed as an aspiring life insurance agent to have access to this information. Thank you for posting. 🙏
If you have any specific questions, just ask. Happy to make a vid on it
Great video, one thing to verify is that the 60/40 plans will illustrate better but 20 years from now 30 years from now the 90-10 policy will perform better especially in a low interest environment.
Ready for this!
Excellent content, thank you!!
Brother. I love your content. Thank you so much for this valuable info.
You're welcome. Thx for the kind words 👊🏻
you have some great information and I hope I can implement some of this in my life.
Make a plan to execute and you will!
Thank you very much for this valuable information!
You're welcome! Reach out if you have any questions. Text IBC to 26786
Wow am I glad I stubbles upon your channel! So much valuable information it’s insane! When you started talking about the CVLOC arbitrage at the end I was like 🤯 working on figuring out a good structure for my WL now and all this info is invaluable! 👏🏽
So happy to hear it helped!
@@LIFE180 definitely opening up a part of the financial world I didn’t know about before. Have a call set up with your team tomorrow! Really looking forward to that!
Thanks for sharing your knowledge.
You're welcome!
Thank you sooooooooooo much this is extremely helpful! 😀
You're so welcome!
Awesome Info !!! 💯
Glad this was helpful!
Hi Chris, great info. Will you explain why the drastic drop of death benefit payout on year 21? Thank you!
Great content 👌 👏
Any chance of having a phone conversation?
Good Education video. Yet learned not many UA-camrs discuss people retiring in there 30's early 40's aware it's very hard to pull off in USA yet population of this Retire group is growing year by year
Most don't retire that early because they are following a broken system. Focus on investing for cash flow and you will achieve much faster results towards the desired outcome.
Really interesting !!!
Thanks!
Great video! "It's not the investment"
Chris, watching now.
Hey Chris, where can I go to pull that off when I have 50k ready? I want to do the front loaded dump in you were referring to!This info was great man thanks!
Email Chris@life180.com and I'm happy to help!
Where / what is the name of the video that shows the maximum utilization?
Thanks Man 👍
You got it. Are you an agent who is learning?
@@LIFE180 No Sir just trying to fortify my finances to have a solid foundation 🤗
@@uhohotdog3483 amazing. Feel free to email Chris@life180.com if you have any questions.
Chris - would you consider whole life insurance if you were 66, had a couple of million in cash brokerage, and no heirs. married without children? What about indexed universal life policies?
Can you do a video on using the insurance policy for day trading and the Corp structure to use to maximize for taxes and deductions and putting money back in . That would be a awesome video series and get so many younger people interested and get into this great vehicle.
On it
Ah yes, I'm studying stock right now and I'm thinking how I can use money in a WL policy to my advantage.
@@theforce5191 its just straight leverage if you think about it. Get a WL policy, get a CVLOC, borrow at 3% or less on the money in your policy while you are earning 4-5%+. Built in positive Arbitrage... any earnings when trading will be improved and and loses will be slightly hedged....
@@theforce5191 are you licensed?
@@LIFE180 no I'm not planning to get a license. I bought a course and I'm currently studying so I can trade. This will be my "job" after I get the hang of it.
I would love to learn more about the cash value line of credit! Is it different compared to a standard policy loan?
Very much so. I've done videos on them. I'll cover in my next live too
How long till you take withdraw money from it? Someone was saying you can dig in within 30 days? I had never heard of that.
Excellent video!!! My only critique is that you specify up front that the net cash value on the right that you mostly focused on is based upon the insurance company paying dividends. (we both know they always pay dividends 99% of the time) I would highlight the net guaranteed value and tell people as you stated towards the end that this is the doomday scenario; but in comparison to when the stock market crashes the loss in minimal. I would also do simple math and show them that they only lost 5% of what they paid in as an example.
I would even add that we are in the lowest dividend rate we have ever seen and as interest rates continue to go up, dividend rates will increase, as well. Therefore, there is a STRONG argument that Whole Life will OUTPERFORM the illustrations for the first time in our lifetimes.
What is the base/PUA ratio on the policy with the 50k dump in
@@justincorpus7012 The best thing to do is ask the agent you're dealing with to provide illustrations of the best ratios 70/30, 90/10 etc and see which one you like.
Bro... nice call on the market crash... 🤣😂🤣 27:34!!!!!
yeah, well, we will see how it goes. Timing can be tough sometimes. But it's coming. It already started, but then the manipulation with the election cycle kicked in... They can only prop this economy up for so long....
Chris, I’m about to turn 24 and just found your channel today. I’m currently on a real estate investing strategy of buying a home, HELOC in a year, buy another, rent the first, rinse and repeat yearly. Is it possible, hypothetically, to use a HELOC to frontload one of these policies, then immediately borrow against the policy LIKE a HELOC to then buy the next property with. That way I get the benefits of compounding not only front loaded, but for the rest of my life, but can also use that as a tool to invest in property still?
Hey Luke, yeah, it is possible. There are some minor short side detriments, but longer term benefits. Email Chris@life180.com if you want to talk through it more
What if you were to front load with $100k, would that get you to 100% liquidity given that at year 10 was break even on the policy you frontloaded.
Do you have a link to the video regarding using a cash value line of credit?
Somewhere, but at this point in this market, CVLOC's don't typically make any sense....
thank you thank you thank you
You're welcome
Reach out to Chris@life180.com if you need help
Amazing thank you. Is the last demonstration a 70/30 demo? I'm thinking of paying 5000 a year. Would this policy work well with 25000 dump in?
Email me at chris@life180.com and I'm happy to help
So here’s my case. I have no built up capital right now but I do make $3k/mo as a security guard. I’m looking to start a real estate business. My laptop was burglarized on my bday so I have to pay for a new laptop plus filing fees for the separate LLCs I’m creating for flipping, renting, rental cars, plus a holding company to perform business acquisitions. All costs add up to about 2500. I was wondering if there’s a policy where I can deposit 2k every month & it grew and Im able to borrow from it very early on as soon as I accumulated say 4k. Use the loan money to pay my startup costs while my original money is still collecting interest. Is there an option like this? (Fun fact I got a life insurance license earlier this year when I was thinking of becoming an agent but I never followed thru. Could I technically be my own agent?)
Great video. If I wanted to access a break down like this from an institution, what is the appropriate name to refer to this form so I don’t sound foolish when asking. Thank you!
This is just the policy illustration. It is a requirement for every policy. It is effectively showing you what the contract will be if you buy the policy.
If you weee to borrow against the funds would that have any impact on the “net cash value column” of growth?
Yes, because the net cash value shows your borrowing capacity
Question? I am interested in learning more about how to structure Whole Life Insurance Policies. It is not something that is focused on in our company. Additionally, I am a newer agent and want to make sure I am learning the best strategies. Last question, I have an IUL that I just bought this year and have only had for 6 months. Is it better to convert to a Whole Life policy? And if with a Whole Life Policy, can you take a Loan in the first year if needed if you front load it?
If you want to have a conversation about your policy and how you can design one for yourself, you can use this link to set up a call: calendly.com/_life180/claritycall
Can you suggest how to do a single premium whole life policy with high cash value up front? Just trying to avoid a monthly payment.
You can do that. It will be a MEC contract and lose the tax benefits... I have a guy coming on the channel I will be doing some videos with talking about exactly this in the next couple weeks. So subscribe and be on the lookout
Do you have any videos about pros/cons of using leveraged cash value to pay for household expenses? Property taxes, utilities, etc. Some people say it's worthwhile but I can't see any benefit. It seems a continuous cycle of borrow and repay
I'm not a big fan of managing life that way, personally. Lots of IBCers believe in that, I'm not one of them... once the policy is big enough and you can use a CVLOC it can make sense, but foe most people it doesn't.
@@LIFE180 might be an idea for a video for you to do. Opinion piece
My question is what was the split on the last example with the 50K dump in? Was it 40/60, 10/90, or something different?
I can't recall the exact number. But we optimized it. Most of the time with a large front loaded amount into the policy, you are not able with MEC rules to do a 10/90 design. But you still have a high amount of liquidity AND the long term performance of the policy is great.
Which carrier is this? I'm an agent and looking for a carrier that would do these kind of structures! Thank you!
Email Chris@life180.com and we can talk about it.
If my WL policy is in the unideal category, is it stuck, or possible to adjust death benefit?
Depends on a lot of variables. You can reach out and have our team give it a look. No pressure either way. LIFE180.com/clarity-call
Can you design 95-5 design?
The fact of the matter is Dave Ramsey and Suar Orman make their money on books and seminars as well as suggesting mutual funds. That’s why they are adamantly against infinite banking. In other words, there’s more money it it for them to teach what they teach.
Do you have any examples of actual clients in whole life let’s say who have been on their policy for at least 15 to 20 years to see how they are currently performing?
Great Question
What I can definitely say. My relative in my country in the Caribbean took a whole policy but she took the 10/90 policy. She has been in it for over 15 years and she had a home repair emergency and she has access to 90% of her funds during COVID-19. However she ensured that she paid it back so that she could have access to it the future and she's over 65 years old.
Are you able to start a term and convert to a whole life like this? Would give me death benefit for now until I get the high interest cards paid off
That's 100% what I would do and what we coach our clients to do. Lock in your insurability and protect your family while you clean up consumer debt.
Email Chris@life180.com or use link in description if you would like to speak with someone on the team about helping you. Best of luck either way!
Question! If you were to pick between a two companies. Guardian or Northwestern Mutual?
They are two great companies but which would be better?
Guardian. Hands down
Lmk if you need some illustrations/ designs for what you are trying to do
This was a great video. Very solid returns with low risk and a great death benefit. A 401k won't do that for you!
Amen 🙌
hey i just turned 21 and I want to figure out the best way to maximize my money would I want to open one of these accounts and invest in stock at the same time or would you recommend putting a majority of my money into just an insurance policy?
You can flow money through the policy and into the market if you wanted. I guess I would want to have more of a conversation with you to find out WHY you are thinking of doing what you want.
You can set up a call if you want
Calendly.com/life180/claritycall
No pressure either way. Best of luck
I am in my early 40s healthy long-term plan is to use it investment fund to draw as much cash value as possible for different investments and, at the same time, make sure my family gets a good chunk over .5 ml cash if I am gone. What kind of whole life policy should I get? Would you like to hear opinion from ya'all
Email chris@life180.com and I’m happy to talk through it with you
as a front load policy, what would be the length in time as far as you being able to utilize the 91% within the first year of the account being open? i.e- drop 50k into the policy when would that 91% be able to be used as a loan?
The dividend doesn't get applied til the 1 year mark. But access to the rest is available within 30 days to use as a loan.
Thank you
Who do you recommend as far as a companies for whole life insurance?
It really varies per person. Lafayette, One America, Guardian and Mass all work better in different scenarios
How do I do this in Canada?
I am 27 years old and I make 120k a year truck driving but I work really hard for it and get paid in under the table cash. and I would love to do this especially since I have no social security accumulating. Not that I want it much with all the taxing they do on it. But I don’t have much money saved Cz I suck at saving and managing money, would u recommend the second example in the video or the third one u said is called the 10/90? 🤔
I would recommend using this link to set up a conversation with one of my trained agents. There is absolutely NO PRESSURE. But you will get a lot of clarity and guidance: calendly.com/_life180/claritycall
if im talking to agent What to ask to have this kind of policy? (The BEST Whole Life Policy Design (if you can do it))
Connect with me: calendly.com/_life180/claritycall
What would be your monthly payment for the 4060 policy in this scenario?
That depends. The 40/60 is about the blend design. But you design the 40/60 (or any other blend) based on what your cash flow is like. Feel free to set up a clarity call if you want to have a conversation. Calendly.com/_life180/claritycall
Watch this video if you want to learn the best ways to build policies. Front load=efficiency!
Front loading policies is the best kept secret in the financial industry.
your concept is perfect . but now Heloc interest rise to 8% , very hard to borrow money from WL .
Yeah, 3rd party lines of credit are not as attractive in May 2023. However, whole life policy loan rates are more attractive than they have been on 3 decades
@@LIFE180 as I know WL loan interest is far more from IUL and VUL. Change mind to borrow funds from iul if needed.
On your front loaded plan (which I like) why did the death benefit drop to nearly half at the 20 year mark? I understand the lower premium on year 21 but it took away from the death benefit? Also on this same policy what ratio was it? 10/90 , 40/60 etc?
Depending on the front load amount on the policy, the blend of PUA's to base will vary. This instance I think was actually 50/50 blend after year 1 because it needed to be to avoid MEC and allow for the large dump in.
The death benefit dropped off because the term rider expired. You need to use a term rider to allow for the massive dump in.
Are you an agent or a person looking to create a policy for yourself?
@@LIFE180 create a policy myself
@Taylor'd Rod and Customs UA-cam email Chris@life180.com and I'm happy to connect and give you some pointers.
@@LIFE180 that would be great. An agent has given me some options that don't look bad but I am new to this.
How do I start? I’ve known about Whole Life Insurance for some time now but never managed to buy a policy.
Email Chris@life180.com and I'll help point you in the right direction
Someone spelled policy wrong in the intro, just a head up, bud
Hello, I’m 18 years old and I’m looking to open up my first policy. My goals are to put in close to 6k a year to start out. What is the best way I can structure something not too risky but will generate good returns to set me up for wealth? Thank you!
Great questions!
Set up a policy to build your foundation as an opportunity fund. You're never going to get massive return from whole life. But it should position you to be able to take advantage of opportunity in other investments.
Calendly.com/_life180/claritycall
Use that link if you want to speak with one of the coaches on my team that can help you.
As an aspiring agent/broker I learn a lot from you and I would love to join your team
Email Chris@life180.com and we can have a conversation (set up a phone call)
Ok!
Training to become a agent right now and looked to this video for more information.
In your second policy you say how people like Dave Ramsey don’t like it for those reasons which I understand and I understand what you point of view is as well, you are saying no you don’t keep the cash value the Insurance company does but the death benefit has raised, at year 20 (age 60), you paid 200k in premium and your benefit is 530k, but minus the 271k CV you have 260k left for your benefit if you died. So you paid 200k and only got 60k profit is what I am trying to say.
As I said I’m an agent who is going to start selling insurance soon so I am trying to see the better benefit in this because they could have just used a term policy for a much higher benefit possibly?
Great questions. Here is the mindset of this...
Don't EVER look at whole life as an investment because it is NOT. It is a savings alternative on steroids that you can leverage to make your other investments better.
I would say in most situations, people need a separate term policy on top of a whole life policy for many reasons and I have many videos on all that.
Keep in mind with the example you're talking about (which isn't even the best option, imo), I would be leveraging the CV in the policy for things like cash flow real estate at the same time. So I would have 271k in CV, but that money over the years would have helped me acquire 4-6 cashflow rental properties.
The explanation is too long to type here but I have vids on that, as well.
I did not know that you have that flexibility with premium in a whole life policy. In that case, what percentage base premium are you using?
Really depends on the example you're referring to in the video. I used several designs in the policy
@@LIFE180 the example I am referring to is the one I mentioned in my comment, that gives you the premium flexibility to put $50K more than the regular premium in the 1st year. What is the percentage of base premium are you using in that design?
@@ceebecks can't recall exactly how I had this specific one designed off the top of my head. I'm traveling right now so I can't look it up. It'll be somewhere between 30-50% base. The great part is that it works short term with liquidity year 1 and the policy growing like it does startup year 2. Plus the higher the base, the better the overall policy. So you can have the best of both worlds...
Hmu if you wanna talk about it. Chris@life180.com
How do you put in 6) thousand first year?
I assume you mean 60,000? Every company works a bit differently. Are you a licensed agent?
Whole life is a much better policy to save money in. Universal life is less expensive and very flexible. But pay me now or pay me later. Whole life insurance has limits on how much to pay into the policy because the 5/7% interest rate is paid forever based on the annual dividend after the cash value earns 4% yearly. TAX ADVANTAGES ARE EXCELLENT !
Do you have a agent you recommend.
Email Chris@life180.com and I can help you out with an agent
Why do you not use the guaranteed values vs the non-guaranteed assumptions? Wouldn't that be a TRUE picture of break even point?
No. Considering the company has never once had to rely on the guaranteed column in 120+ years. And considering the dividends are the lowest they have been in history. I could make a very strong argument that this examples I showed will be outperformed in today's environment due to inflation and the fixed markets. As interest rates increase, so will the dividend, which will lead to better performance than illustrated (even in the non guaranteed column)
One agent from MassMutual try to sell me a 12-year pay whole life insurance. $28k per year for $500k, it looks like the first year is about 30% cash value ($7k), is this one properly structured?
Depends on what you want the policy to do for you. If you would like to have a conversation with my team to figure out what design is best for your needs/wants use this link
Calendly.com/_life180/claritycall
North American is the best for IULs and you got to know how to set it up to get on average 8-10 percent returns
North American is one of the worst culprits of reducing cap rates in the IUL space.
Hey Chris,I’m very interested in whole life insurance for me and my kids ages 6,7,9 and I’m 51 in good health
Hey Robert,
Best bet is to set up a clarity call with the team. No pressure on sales, just will answer your questions, give guidance and see if it is right for you or not.
Calendly.com/_life180/claritycall
Hi Chris do you consult for free? I would like to go over setting up a policy so I can borrow to make an investment. Have a blessed day.
Yes, use this link: Calendly.com/_life180/claritycall
Happy to have the team give some guidance on a policy for you. 🙏🏻
I need a whole life policy to meet these goals:
Lose thousands of dollars in the short term.
Have a pathetic rate of growth in the long term of a fund I don't get to keep.
Have a complex process to get some of my money back as loans that must then be repaid.
Have a death benefit at age 70 and beyond when I don't need it anymore, but I will pay for it anyway.
Can you help me?
Oh Mark....is this the same Mark that was trolling me and Garrett a couple months ago? I feel bad for you if this is really how you believe it works.
@LIFE180
Don't feel bad for me. I'm doing just fine. You should feel bad for your clients however. No one has ever been able to show me that whole life insurance, for the vast majority of people, doesn't work exactly as I described above. Is it a strategy, yes, but a terrible one sold with misleading or downright false talking points and scare tactics. I feel bad for you. You don't handle criticism very well and you act like I'm exposing something you don't want exposed.
So agents who tout IBC always emphasize the guarantees, yet most, including you, point out the non guaranteed cash value column in your presentation. A look at your 10/90 policy reveals that the premiums paid exceed the guaranteed cash value column up to year 19. Shifty tactics I must say.
Not at all....the companies we use haven't had to rely on the guaranteed column even 1 time during the past 120 years. The non guaranteed side of WL functions wildly different than the non guaranteed column on an IUL. It assumes current dividend rates being paid, which are near the lowest in history. I could confidently say I believe this policy will actually outperform that column over the next 10 years the way the interest rate environment is.
Can international persons get US insurance ?
It depends on if you have insurable interest in the USA
How about buying a term insurance ... and invest the rest in investments which pays you 10 -11 % ROI over 20 years
ua-cam.com/video/JTuVB0yorPc/v-deo.html
Maybe as a combined instrument insurance/cash available method this works, but even with the tax management aspect that return is abysmal.
It's about leveraging the CV for outside investments like Real Estate
@@LIFE180 ok, but doesn't the insurer charge interest on borrowed funds? So don't outside investments need to return more than the interest being charged for this to make sense? And if that's the case, why wouldn't I just buy stocks/covering options to get the same min 0%/no cap return and then dump those returns into w/e investment options i have available? Truly outside of the (admittedly very) favorable tax treatment, I'm not sure why this would make sense. Listening though.
@Joseph Schultz yes, the insurance company charges interest. But they do that because you're not taking your money from your policy. The insurance company is using the policy cash value to guarantee the loan. What happens is, you pay to borrow from the insurance company, but the cash in your policy is also growing by a comparable amount. It actually works out in your favor if you do it right - even if your investments don't have big returns.
So what’s the last policy called…HECV?
I would call it more of a "Banking Policy".
Some would call it High Early Cash Value
Not so horrible when you "think long term"... There is no right or wrong way to build a whole life policy. Sure your first one you might want to get high early cash value, but down the road, other policies might be all base and there is nothing wrong with that.
For sure. The good news with wl is that you can't ever hurt anyone long term. But most people don't have the ability to afford whole life and lose liquidity of their cash. So blending a policy to allow your dollars to perform multiple functions is key imo
@@LIFE180 but they can afford to lose liquidity for 30-40 years in a qualified plan? For instance on a kid policy, most won't need liquidity until age 16 (for a car) or 20 for college... Maybe it makes more sense to do an all base policy on a 1 year old?
@@MichaelSparks sure. Most kids policies are much higher base.
How do these polices affect crypto Millionaires & billionaire's?
How do they effect them? Well, it's a great place to store money for them if they don't want to use a traditional bank...which most dont...
I would like to speak with an agent ASAP do run some numbers and discuss my options. The link in the description is no longer valid.
email Chris@LIFE180.com
or try this: Calendly.com/_life180/claritycall
whether you're a person looking to get a whole life policy, or you're an agent looking to learn how to serve your clients in a better way, reach out to us using this link: calendly.com/_LIFE180/claritycall
To keep the education journey rolling, watch this playlist: ua-cam.com/video/JpkPVx72r0o/v-deo.html
I’m an agent wanting to learn how to better serve my clients. The calendly link provided is a dud.
@@LIFE180 still dud
@@atomicbeing calendly.com/_life180/claritycall is working.... I just checked.
Get out of either or thinking, and get into and thinking
Bingo
Hi Chris
I just got the equity out of my home. I'm currently doing 101 which is fantastic. I was wondering if you can design a whole life policy for me. How can we discuss? Thank you
Email Chris@life180.com and I can get you set up on a call
How am I supposed to save 60k when I'm bleeding money from price gouging with Rent, food, gas, and general prices at all time highs?
Spend time building a skill to increase earning potential. Watch less TV, work a side hustle.
I went through a challenging time with cash flow for a clip about 5 years ago. I had a couple big clients not pay over $125k in fees for marketing - even though I knew they made more than they had expected. So I drove Uber and Lyft for 5 months 80-100 hours per week to help fund the gap. While I was on downtime I had my laptop with me and I recorded podcast episodes.
Sorry, but most people's greatest problem is income. The only thing holding you back from more income is you and your beliefs.
I don't mean this to be critical
@@LIFE180I actually have a bachelors and have worked almost nonstop these last 2 years working in the COVID ICUs trying to save lives on a literal daily basis. So tell me again about watching less TV or learning a skill.
@@a2cool4u02 well, thank you for your service. Where do you live where cost of living is too high to keep up with your pay? How much do you earn working 2 full time jobs?
@@LIFE180 Reno, NV housing the last 10 years has more than doubled. Just to rent a 1bd 1bath apartment you'd need to make $20 an hour since they are on average $1500/month. Median home prices are above 550k because there isn't enough supply. And as I stated before gas is now at $5.00/gallon and all other prices are being gouged by major companies. So that's where the question comes in how do you save any significant amount money needed to do this when I'm risking my life day in and day out with just enough to get by.
40/60 traditional w rider to avoid MEC ... performs better long term
They perform well. But doing a big front load into the policy helps it perform better long term.
@@LIFE180 Hello 👋🏽 again and GOOD MORNING! 😆
I was just taking notes not actually commenting this time.
BUUUUT since you mentioned "front loaded" is that the trick to all of these polices or just 40/60 60/40 (however it's put)
@@shemeher3380 hello 👋
Best practice put base (40) first / PUA (60) second.
Check out the front load example in this video. I went over it with the last policy design, I believe.
@@LIFE180 Thanks 😊. Yes it was in the video. I had to pause bc we home school and are full throttle right now 😆. I couldn't recall at the time of the comment though. I will DEFINITELY get the hang of it though!
How can I get in touch with you?
Chris@life180.com
How long you have to have your policy before you can take a loan does anyone know?
Depending on how you fund it, but you can borrow against all new money within 30 days of making that premium payment
@@LIFE180 thanks for the info do you mind
telling me what should I tell the advisor that signed
me up because he told me I would have to wait years
to access my funds and is there a specific part of
the policy I'm leaving out that I need to tell him to
add I'm using northwestern mutual life I got whole
life $86 a month?
@@Ricotana how long ago did you get the policy? NWM is renowned for selling those types of policies where you don't get access to you cash until years down the road.
@@LIFE180 I got the policy yesterday they signed me up for “whole life plus 100 “ who should I go with and what policy should I ask for ?
@@Ricotana email me chris@life180.com and I'll give you some guidance.
The chart is not clear enough to read on the intro!
Look further in, it's easier to see
I wish I knew this 20 years ago. I would be wealthy by now
No better time to start than the present
@@LIFE180 I was just qualified for a United of Omaha policy. It’s not Mass Mutual but it’s a start. Any suggestions?
Please give me a call, I am very interested in working with your team.
Email me chris@life180.com and I can help connect you to the right person
Your money in a savings account will NOT be taxed after death if you're like a normal American and don't have tens of millions of dollars in your estate. C'mon now, let's not scare people into buying insurance they don't need.
Didn't you say that you are not licensed?
I was licensed back in 2016 when I was the Director of Business development for the #1 IUL company. When I made this video I was not.
I recently decided to get my license again. Our agency is just growing too fast, so I needed to get it again to be able to personally help the team more.
At the risk of being called a "Spelling Nazi", I wanted to point out that there is a spelling error 0:52 seconds in. You misspelled "Policy" in your title: "A Whole Life Poolicy in 2022". Like your videos, though.
Sorry , I must have missed that edit for my editors… thx for the heads up
Did I miss how to properly structure a whole policy?
Accelerated rider..... thats it?
It's the balance and blend of PUAs and Base Premium. You need to take into consideration the variations available to you based on how you plan to fund the policy.
Need help!
Email Chris@life180.com and let me know what's happening with you. I'm happy to help.