When financial professionals recommend whole life insurance, one challenge consistently arises: helping clients understand why it works. Most consumers have been conditioned to compare life insurance based on premiums, death benefits, or simplified online illustrations. Yet whole life insurance can provide much more than a death benefit. It can serve
Truth Concepts is about showing clients the truth of ALL things financial. Whole life insurance is often left out from financial software because it’s notoriously difficult to calculate in a reliable way. That’s why Truth Concepts put in the work–so that you have a way to prove how whole life
Life insurance companies charge interest when we borrow their money just like banks and credit unions and other financial institutions do. While many advisors outside of our sphere make statements suggesting we borrow our cash value, or that there is some special magic to life insurance loans, this is ultimately
The Importance of Cash You’ve heard the phrase, “Cash is King.” What it suggests is that cash, and cash flow, are more valuable than any other investment tools. The phrase itself is widely used in the world of finance, but we think that it applies a little differently. When it comes
“There is nothing more uncertain than life, and nothing more certain than life insurance.” Solomon Huebner Foundational Life Insurance Education It’s easy to get caught up in the more exciting parts of life insurance, like the infinite banking concept. After all, it’s exciting to think about leverage and cash flow
In the life insurance space, we spend a lot of time talking about whole life insurance vs. term insurance, or whole life vs. universal life insurance. We spend so much time, in fact, that we often forget to talk about convertible term insurance. As whole-life-friendly advisors, of course, we know
The Life Insurance Values tool is an invaluable way to showcase life insurance illustrations, including ones already in force. This means it’s ideal for using in an annual review with a client who wants to see how their policies are doing, and maybe even what else they can do in
Interest is a complex topic that only gets more complex as you dig down into it. As such, interest rates are often misunderstood. One example is the common misconception about how rates of return work, which we previously covered. Another misconception is about the difference between principal and interest on
Buy term insurance and invest the difference (the difference of premium between term and permanent insurance) is perhaps some of the most pervasive life insurance “advice,” and yet it’s built on a complete misunderstanding of whole life insurance. While it likely comes from a place of frustration and hurt by
“There are no deals in the life insurance industry…” This quote, more perhaps than any other, is something we must take to heart when we work with clients. Not because it’s attractive, but because it’s true. The more we try to glamorize the life insurance industry, the greater disservice we