The ONE Thing Missing From Your Life Insurance Strategy | Interview With @BetterWealth

Welcome everyone. I'm here with Caleb in person. Finally. This is a dream come true. And have we made content in person? Yeah, we did. I think you're at your event, but it's like, it's even cooler. I don't know. I'm in. We're in Daniel's studio here. Dude, what are you talking about? Tomorrow we're at the Wealth Aligned Experience. So.

Yeah, first of all, first of all, shout out to Chris Kirkpatrick for having wealth. One of the most interesting days that I've ever experienced. And I say that sincerely. Like his event. You go in a lot of financial events, you're, you know, learning about all kinds of boring topics and like we're doing breath work, we're like talking about all kinds of goals and outcomes and results and it's. It definitely was a life giving day. So I say that sincerely. But tomorrow I'm gonna be talking about life insurance as a multi dimensional asset. And I find that we're at this event, we're talking to a lot of people that are financial professionals and I find that even my book, the and Asset, when I wrote that, it was with this idea of compounding your money and using it. I was literally thinking I was valuing two things. Using your money and compounding it. And then when you wrote the and asset. Yeah, I mean I would say there's other things, but that was the thing that was really. That drew me. And now like eight years later. Now. Yeah, eight. Eight years later. There's a lot of things going on here. For an add person, this is like a lot. We got, we got the peanut gallery over there. But eight years, eight years later, I'm like, wow, life insurance is so much more impactful. Like there's so many other things that are going on and I find that, um, yeah, using your money throughout your life is and benefit and it's a great benefit. But if you don't understand like why life insurance could be a foundational and like the other benefits other than using your money, it becomes less impactful because then, then you can go down to like when someone can find a better arbitrage tool, then they will then why choose life insurance?

Right?

But it's like if you understood the value that that product could give you and your family, then that. So I just think it's like, re. Like it's challenging the way that people view that conversation.

When. So yeah, when did you have the switch from rate of return leveraging the cash value? Because that's.

Yeah, I mean that's a Great question.

You have that switch.

So Greg Healma, who was by my side when we started Better wealth and when we, we wrote the book, he, he passed away. And so he was like the first death claim who's, like I said, he was like a second father to me. And so I think that was like the beginning. But then just the more, just the more you, you live life and you interact with people and you just realize like a planning is more than just a number. And, and I don't know, it's just, there's just, there's just other things like you can measure an irr. You can't really measure the value of creditor protection. You know what I'm saying? You can, you can measure the, you know, certain aspects of your death benefit growing up and down but can you really measure the value of guarantees and safety? And these are the other things that I just, I want people to start really thinking through because I think it, it really fleshes out what we're trying to, what we're trying to accomplish.

Yeah. And as you know I had an experience as well last year. My sister in law gets in this.

Yeah.

Car crash where the car flips. She gets partially ejected from the vehicle, nearly passes away, pulls through. Absolute miracle. And a month before the crash I put a life insurance policy on her. And it's like at that moment when we were at the hospital, the other family, because there was another girl in the car and she passed away on like so we see the sheriff, people coming out and I knew that family did not have any life insurance on that, on that girl. 21 years old.

Yeah.

Just turned 21. So you know a 21 year old passing away family is, they're, they're done financially. Like it, it took them out and so to have to recover from that financially and also mourn for the rest of your days as a parent, that's when I was like when I listen to your material, when I listen to people like Todd, when I listen to people like him and Chris, Chris is always like living benefits, living benefits, living benefits. Like he says these things and I've been a, I've been a cash value like focus.

Yeah.

For a while and then I looked at all my family and friends who didn't have life insurance and I've been in the business eight years. Seven years. Seven years going on eight. And I'm just like what am I doing?

Yeah.

And that's when I began to have that switch.

Other thing that I'm going to open up tomorrow is the concept of Efficiency and how we, in the business, we need to get really, really good at getting. Like, the definition of efficiency is removing any friction to get to where you want to go. So you need two things to be efficient. You need to know where you want to go, and then you need to be able to highlight the friction points that are getting in certain someone's way. And so our ability to get really crystal clear with our loved ones. You just said, like your family, like, yeah. How many of them are not insured, but how many of them can we not articulate what they really want? Those are two things that should be convicting. And how many of our clients, do we really not know what they want? Are we just, you know what I'm saying? So it's like, let's get really crystal clear and what do our clients want? And then let's come up with some type of system to be able to highlight the friction points, the inefficiencies, whatever you want to say, like in their life. And then sales gets really easy, really easy, because it's like you're just mirroring back what you really want. And I'm going to help you get there. Why wouldn't you want to be on the ride with me? And then I find, so I just find that if we, if we had that perspective and mental, like, energy, we just show up differently and we would, we would start talking about things that actually mattered in people's lives. So that's how I'm gonna, that's how I'm gonna open up and then, you know, talk about some things. Because I do think we need to understand life insurance as a product. And so when you, when you, when you actually understand life insurance as a product, but you fit it into that framework, it becomes a really powerful tool in the toolbox with a process that can help people.

For the agent that's watching the new agent, or they're seasoned, they're part time, going to full time, but they're not creating content. How much more difficult is it? Because there's this fear that I've heard other agents express was like, okay, if I go into the whole philosophy conversation, I'm gonna give them all this value all this time, and they end up not writing the policy with me. So then I'm, I'm like sitting there, like I should have led with what the client wanted to see. They want to see the illustration, want to see the cash value and versus someone like yourself, myself, Daniel, in the house here that have an archive of content where the client is already seeing Your values and beliefs being displayed.

Yeah. Though I don't think everyone should create content. I think that would be too much of a friction point. Obviously, I'm talking to you. It's treated both of us extremely well. I'm a fan. If you have ambition and you're like, want to do content, go do it. But you know, I. Not everyone is going to create content. What I do believe and what I would tell someone is you need to take leadership. Like, you need to be a leader in that situation. And when someone's coming to you and they. And they're gonna walk all over you, like, no, like, you take control of that process and no say, like, this is how I can best serve you. When I, When I was working at the bank and I had no platform and I was, I literally looked like I was 14 years old and I would have people coming with, with grandchildren older than me, I would do the whole Simon Sinek talk and I cringe at just thinking back on this, but I would, I would draw three circles and I would do the whole. Like, some people know what they do, some people know how they do it. But, like, it's important for me to know why you do what you do. And at 19 years old, I was leading in such a way and I didn't have any credibility, but that was like a micro example of leading in such a way. So I would say when, whether you have a platform or not, you have a more obligation to take people through a process.

You need to have a process.

Right. I think content is an amazing lever.

Yeah.

And I'm a fan, just to be clear, I'm a fan of people doing content, but I, I don't think everyone is going to do it. And I don't, you know, I. That wouldn't necessarily be my recommendation. And there's quite frankly, some people that do content that shouldn't. Like, I'm maybe being too real, but like, call them out, bro. You should maybe write, you should stick to LinkedIn posting. You know what I'm saying? Like, I'm just, you know, and just. And that's the thing is, like, just because we do it doesn't mean everyone should do it. Be authentic. Stick to the, the authentic area.

It's tougher for me to like, come to terms with like the fact that, yeah, okay, not everyone should create content, but everyone should have a process. You have, you have this whole other company with Brienne about advisor elevated and that's all about having the agent create a process and offer that people and scaling virtually yeah.

And scaling virtually. And you're right, creating content is one avenue. But yeah, I mean, if you are an advisor that really want to take your business seriously. Yeah. I mean you can hit us up and we'd love to take you through that process and at least help highlight because what we'll do with everyone for free is to help, like help take them through a process and show them exactly what they should focus on. And then some people decide to work with us and some people are like, thank you for giving us the blueprint. We're going to do this on our, on our own. But yeah, scaling virtually is something that I'm very passionate about. Because if you're in this business and not growing and you have a ton of friction, it goes back to what I talked about, how we help people. The beautiful thing about the efficiency framework is it applies to advisor elevated and applies to better wealth. What are your desired results? What are the friction points in the way? Can we help remove friction to helping you live more intentionally get to your goals better live?

Yeah. And I love how it works for the agent and then also for my, my audience, my lower followers, my clients that love all the content that I put out and the people that I collaborate with and partner up with. It applies to you as well. The W2 listener. Right. The person that doesn't have a business. This applies to you as well. You know, so when we're talking about the products that we provide, whether it's life insurance, the different facets of it, instead of just looking at the rate of return and the cash value, and this is coming from a guy that always does case studies and showing the results.

That's great.

And I think it. Yeah, I think it is. I think it helps. But I also realized that I am leaving out a big part of the story and I wasn't able to see it until something happened.

Yeah. All right.

And so figuring out how to, how to structure that conversation in the process, not after they put the policy in place. Because then I'm now having to reconvince or reaffirm clients that hey, this product is so valuable, we don't even realize it sitting on an asset. You don't even realize how it's much.

Easier to get flush all that in the really crystal clear in the process, then add products to the process. But you've already established the goal. You know, when you're just cherry picking these things but you don't have a framework, it can be tough because it's like, why do I have this product again? Why am I doing this again? Yeah, it's like that, that can be.

You may sell a lot, which I have.

Yeah.

And you may also be doing a lot of back end work. Thankfully, I have not had that issue. But there are some, some clients that I've had in the past where they start to decrease in funding a little bit or they, they just forget like, oh, I didn't know I could borrow. There's no way. Like they're like, I don't want to go into debt when they, when they say like, yeah, you know, bar from their. Borrow against their policies. I don't, I just don't want to create debt. And I'm like, oh, wait a second. So there's, there's. They're viewing it like these other debts that they have, like their cars and their credit cards. I'm like, it's, it's totally different. Like you're creating collateral and you're controlling that cost in a sense at a way better efficient than going to a lender, you know, in this, in this decision that you're about to make.

Yeah.

So a lot of, lot of cool stuff. Dude, I'm excited. This is. We ended day two of the wealth of Light experience. Tomorrow's day three. Caleb, myself, Sebastian Boyer, shout out to you the approved guy and Daniel Romberg. Love what he's doing here. Is all speakers at Chris's event. So this is awesome.

It's gonna be great. You have any other questions or anything else on your mind?

I'm, I'm satisfied. I'm full. I, I just wanted to hop on, be within proximity.

Well, dude, it's, it's, it's always an honor chatting it up with you and Absolutely. It's fun to see our channels continue to grow and more collaborations to come.

Absolutely do. We're only eight years in. It's going to be so cool to see what is, what we're going to look like 10 years from now. Creating content. Creating. Because I don't think you plan on stopping anytime soon.

No, I. Content is one of.

You're just getting started with the shift in this interview style that you're doing now where you're bringing all these different voices and you've put on some solid, solid interviews and brought people from certain lanes that you never would have thought would sit down with a life insurance agent.

Right.

Or anyone in the life insurance and you got them to come into the room. That's something I'm learning from you how to, how to get other voices in our space to see what we're doing. Critique us and share ideas, challenge ideas and help people get to the next level.

Dude, I love it. I'm here for it.

Awesome. Beautiful. I help moms women build wealthy kingdoms that will last forever. To have authority over their finances by helping them pay off debt, increase cash flow, lower your expenses, build your credit all using your own income.