15
Oct

(New to Truth Concepts? Start here!)

Welcome to our Blog! We are delighted you are here. You’ll find many examples and tips for using Truth Concepts in our posts, along with other helpful information you can use in your business.

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Please note each video tutorial at http://www.truthconcepts.com/tutorials.php is transcribed on the blog in this section http://truthconcepts.com/blog/category/tutorial-transcriptions/

Additional resources to help you get the most out of Truth Concepts™ software: More »

02
Jul

 

When you think about it, isn’t the concept of retirement just ABSURD!? 

BRL-REAL-coverIt’s absurd to think that making a growing segment of our population LESS productive (through forced or expected retirements), that there will somehow be more for everyone.

It’s absurd for 95% of Americans to believe they can work and save for 40 years, then expect to live off of their savings and investments – in the manner to which they’ve become accustomed – for another 20, 30, even 40 years.

We know that for most Americans, the math just doesn’t work out. They can’t save enough and earn on their investments to counteract the effects of inflation. And if their nest eggs are tucked away in qualified retirement plans where they’ll pay (likely) increasing income taxes before they can spend what they’ve saved, they’ll be in worse shape than they may realize.

As an advisor, how can we address the retirement debacle? People come looking for “help” in retiring, but do you ever feel like they’re chasing the wrong goals, or just not willing to accept inconvenient financial probabilities such as rising inflation, tax burden, and increased longevity?  More »

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14
May

50xEmergency-preparation-checklistYou work hard to prepare your clients financially, with insurance policies, savings, investments, education, and more. You may assume – along with your clients – that a life insurance policy, a will, and a durable power of attorney constitute “preparedness.” But those are just part of the puzzle.

The fact is that even the people who have taken such steps usually fail to leave instructions for their loved ones about dozens of seemingly small, but essential details. When a personal emergency strikes, few people know what to actually DO in the event of an accident, injury, illness, or the unexpected death of a loved one.

Too often, the missing piece of the puzzle isn’t life insurance or a will, but communication. For instance, do you or your clients’ loved ones know how to:

  • Contact their doctor?
  • Find their durable power of attorney?
  • Pay their bills and keep their household running?
  • Care for their pets, their home, or even their child for a short time?
  • Find their extra house and car keys, or their email password?
  • Locate their will and/or life insurance documents – especially the policies or wills they put in place prior to working with you?
  • If they have no life insurance or will, do their loved ones know, or will they embark on a frustrating search?

The family members left to “manage” the emergency are too often left in the dark. And as an advisor, chances are, you’re in the dark, too. More »

27
Mar

 

Do PUAs Grow Less Efficient Over Time? Should Clients Buy New Policies to Better Utilize PUAs?

As you know, in the early months and years of a whole life policy, the PUAs are more efficient than the base premium as far as generating cash value for the policy. While the base premium alone can take years to generate a positive internal rate of return where cash value is concerned, the PUAs are converted to cash value right away, which increases the efficiency of the policy overall.

However, after 5-7 years of funding a whole life policy, the impact of the PUAs appears to lessen. Illustrations of a policy funded with maximum PUAs vs. no PUAs at all show that, several years into the policy, the PUAs no longer have a dramatic affect on the internal rate of return of the policy.

For instance, in one example, adding PUAs to a 12k premium whole life policy for the first five years increased the internal rate of return on the net cash value in the 12th year from only .57% (no PUAs) to 3.29% (with 5 years of PUAs) – a difference of 477%! (See illustration 1.)

Illustration #1

PUA illustration #1

However, when the PUA is paid for 10 years, the PUAs only bring the IRR up to 3.52%. The difference between 3.29% – the IRR produced when 5 years of PUAs were added to the policy – and 3.52%, the IRR resulting from 10 years of PUAs – is only 6.99%. More »

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03
Mar

Truth Concepts Truth Training attendees
 
Last week we hosted another Truth Training at the Houston Intercontinental Airport Marriott, and we had an extremely diverse group! While most attendees are insurance agents and/or financial advisors, this group of 25 attendees also included:

  • a representative from the Penumbra Fund – comprised of life settlements – that many of Kim’s clients (at Partners for Prosperity, Inc.) are enjoying good results from.
  • a debt restructuring expert from Partners 4 Fiscal Fitness who helps individuals as well as corporations get out of debt.
  • an editor from the Palm Beach Letter and former Fidelity rep who walked away more convinced than ever that qualified plans are over-rated and whole life insurance is a best-kept secret (that he is actively working to share!)
  • a financial coach, writer, and therapist from Total Wealth Coaching (who took the pictures and insisted we share more about what happens at Truth Training.)
  • host of the Guide to Financial Peace radio show.
  • a dentist who is an advocate of the Infinite Banking Concept who came to gain a deeper understanding of the math behind various financial strategies.

We also had brand new agents, experienced advisors (including a JP Morgan guy who is educating himself on the whole truth about life insurance), and repeat attenders such as top producer Patrick Donahoe of Paradigm Life, who graciously shared one of his favorite sales strategies and videos. More »

25
Nov

All Calculators can have individual numbers changed inside the calculator when there is a bold blue line or a blue dotted line

20
Oct

You can use Max Potential to prove the value of an income stream when talking about Disability Income insurance.

06
Sep

In the upper middle of the Income Tax Chart is the “Federal Income Tax / Gross Income %”  Since this is mathematically correct but not technically accurate, you can click on it to hide. The reason it is not technically accurate is that our income tax does not change up or down based on averages but instead on last dollar earned or marginal rates.

 

30
Aug

For an Amortization Schedule on the Loan Analysis Calculator, you can switch the “Period Number” to “Start Date” by clicking on it and then your amortization schedule will have payments dates on it which you can adjust based on when you want the first payment to be.

27
Jan

On the Loan Analysis Calculator, if you want to show skipping a payment on the loan payback, go the the middle and click the “compare” button, then you skip payments or change them on the blue lines.

 

27
Jan

You can change the “year” on the left to an “age” by clicking on “year” and typing in the age