The new Truth Concepts app has launched, providing an opportunity for anyone to make financial calculations at their fingertips. The beauty of the app is that you can use it on the go, which means you’ll have easy access to it when you’re buying a car, looking at loan options, or making other big financial decisions. This is an app that empowers anyone making financial decisions and is available to everyone. The new app carries our five basic financial calculators: Present Value, Future Value, Periods, Payments, and Interest Rates. We’reRead More
Category: Rate Calculator
Even a seasoned financial advisor can be vulnerable to certain blind spots within the field, what matters is recognizing and learning from these blind spots. Here we have gathered a list of the seven major areas in which advisors can falter, to save you from the same oversights. 1. Forgetting Time Value of Money As an advisor, the time value of money must be applied to every calculation, and any calculation that does not take this into account is not accurate. Every dollar has a value that increases over time,Read More
Mark Twain reportedly said that he tried to not let his schooling get in the way of his education. I think he was describing a paradox similar to what most advisors know as the “arrival syndrome.” Said in yet another way, your education should be an ongoing process. Such is the case with your clients. We recommend that you schedule regular discussions to help your clients understand the whole truth about money. And, of course, we are totally biased in thinking the best way to help your clients, is byRead More
New Truth Concepts Client Presentations! We’ve been busy loading up our Truth Concepts YouTube channel with videos for you! Now there are 15 videos featuring Todd Langford and/or Truth Concepts software. The YouTube channel houses our Truth Concepts, Truth Concepts Academy, and Summit videos, as well as several presentation videos and Banking for Life excerpts and outtakes with Todd Langford. Eight of the newer videos are from a client event at a local insurance brokerage. We recorded and “screen captured” Todd’s presentations and divided it up by topic. (FYI, Todd’sRead More
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.Read More