Here Are A Few Examples Using Our Whole Life Insurance Calculator…
Funding Illustration Calculator
Help clients understand that permanent life insurance may be more efficient than a savings account.
This whole life insurance calculator helps you compare savings and income strategies rooted in whole life to the performance of other assets. This can help clients see how saving into a whole life insurance policy 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 how it performs 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).
Help clients evaluate the impact of diversifying their assets with life insurance.
Show clients the impact that life insurance can have on their overall portfolio. Instead of either investments or whole life insurance, they can have both. Life insurance helps them to build functional savings and accumulate assets, and it also optimizes existing assets. The diversification calculator shows them the truth of the matter.
One way to use this whole life insurance 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.
Borrowing Strategy Calculator
Help clients create a borrowing or “banking” strategy
Help your clients understand what it means and the potential benefits to having their own “bank.” It can be hard for clients to understand cash value accounts and policy loans, 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 whole 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 whole 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 whole life insurance calculators that you can use to impress upon your clients the benefits of whole life insurance over simple term insurance.
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More than just
Whole Life Insurance Calculators
Truth Concepts™ does two things:
Helps your clients understand the “whole truth” about whole life insurance and all of their financial choices.
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 whole life insurance 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, 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.
Helps advisors and agents like you establish yourself as your clients’ most trusted financial expert by helping them understand the value of products like whole life insurance.
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 whole life insurance calculators. You will grow your confidence while earning your clients’ trust which will grow your business.
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