Truth Concepts™ Software has built-in Velocity Banking calculators which use numbers and facts to help your clients see the power of Velocity Banking…making them confident in YOU and your recommendations.
This calculator helps you compare a velocity banking strategy rooted in whole life insurance, to the performance of other assets. This can help clients see how using whole life insurance for velocity banking can help them with their long-term financial strategy. They'll be able to see for themselves how whole life insurance performs better than a savings account, and even against term insurance.
Your savings account would have to earn X % to equal the same cash value (if term costs and annual taxes are included).
This calculator helps you
Show clients the impact that life insurance can have on their overall portfolio. Instead of one or the other, they can have both. Life insurance helps them to create a velocity banking strategy and accumulate assets, and it also optimizes existing assets. The diversification calculator shows them the truth of the matter.
One way to use the calculator: Some advisors use the Diversification calculator to demonstrate how moving assets out of taxable accounts or very low-earning savings accounts might generate more spendable retirement income for clients without compromising the legacy they intend to leave for heirs.
Help your clients understand what it means and the potential benefits to having their own “bank.” It can be hard for clients to understand velocity banking or similar ideas, because they can't visualize what it actually means to be their own banker. Borrowing Strategy Calculator allows you to show them, clearly, the benefits of leveraging their life insurance, compared to other lending institutions.
How could alternative funding sources for big ticket items enable one to be more effective with their money than if they borrowed from a commercial bank?
Answer: A life insurance policy with a loan rate of 6% (and an optional direct recognition reduction of 1%) with a market loan rate of 10% shown paying the policy loan back at the full 10% rather than paying the alternate market source at 10% would create more wealth in the policy than the policy by itself without the loan.
These are just a few examples of velocity banking calculators that you can use to impress upon your clients the benefits of velocity banking.
No credit card needed!
Forget “conventional wisdom” (that may be wrong) or what the latest financial magazine is pushing. Truth Concepts™ pulls back the curtain and tells it like it is. Using our Velocity Banking calculators along with our entire suite of calculators, your clients will see a clear, holistic 360° view of their financial life.
Truth Concepts™ can be used to compare financial strategies, like Velocity Banking, to consult and answer your client’s specific questions, or as a powerful presentation tool that can be used to educate clients about financial principles such as opportunity costs and the impact of taxes and fees.
We have helped thousands of advisors and agents differentiate themselves in a crowded industry and take their business to a whole new level.
Truth Concepts™ isn't just a software company… through the Truth Concepts 360°™ platform we provide both live and online training to help you master your understanding of our calculator software, including our Velocity Banking calculators. You will grow your confidence while earning your clients' trust which will grow your business.