How To Sell IUL (Full Masterclass From a $100k/mo Producer)

All right, ladies and gents, in this video, we're going to be giving you a full on masterclass on how to sell Iuls virtually and over the phone. So on this call, I have a $100,000 per month IUL producer who's basically going to share his secrets to absolutely crushing it with virtual sales on iul. So, Josh, welcome to the channel. Excited to put some training together for the audience out there.

Thanks for having me. Good to be here.

Awesome. So if we could kind of like start off, first of all, like, let's say you get a lead that comes in. How are you taking that person? Like, walk me through? Like, let's say they don't set an appointment on your calendar. A lead comes in, you call them. What does that process look like?

Yeah, so if I, if I'm calling you, you know, I'll call you up. Hey. Hey, Tim.

Yeah, yeah, yeah, who's this?

Hey Tim, this is Josh. I was just giving you a quick call because it looks like you checked out one of our posts about the index, Universal Life, the iul, and it looks like you were trying to get some more information on that. Is that right?

Yeah, yeah, that's. That's correct.

Okay, cool. Well, my job is just to get a little bit of information to see if it would make sense, to see if we're able to help you. Tell me a little bit about, like what, how much do you know about the iul or what are you trying to do with it? Yeah, so with this, I'm, I'm going to try to gauge their info. Like, how much research have they done? Do they, have they been researching this for a year or two? You know, you'll find people like that. Did they just come across this post for the first time? I want to kind of gauge their knowledge base so that I can kind of like figure out what direction to go.

Got it, got it. And that's, that's super valuable because I think a lot of people just assume that people have no idea what it is or they assume that everyone knows exactly what it is, but you got to meet people where they're at. So I think that's a, it's a really solid question. Comes across very natural. Yeah, I mean, I've been doing some research. I see all these posts online. Let's make this super realistic. I've seen a bunch of posts online about people, you know, saying you can put in like a, you know, a couple hundred bucks a month and then you'll be like a millionaire in five years or Something So obviously that sounds interesting to me. If that's not realistic, at the very least I'd like to, you know, be able to save some money on taxes, which is kind of seems what this is, this would help me do.

Yeah, absolutely. So right there, once I figured out what their, what their understanding is, sometimes it's realistic, sometimes it's unrealistic, sometimes they know, you know a lot, sometimes they know a little. But from there I'm going to give, I'm going to basically whatever they said. That's right. I'm going to repeat it back and I'm just going to give kind of an elevator pitch, right. Like something that I could explain in 15 seconds if I was with somebody on an elevator that would give them an understanding. So I'll say something like, hey, Tim. Yeah, I'll say, yeah, Tim. So that's right. I said, you know, these products. Well, I wouldn't say that's right because your, your expectations were a little unrealistic. But I'll say, I'll say, I say, yeah. So basically with the index Universal Life, you know, it can do a lot of different things, but it depends on, it depends on how you set it up and it also depends on how you fund it. So with these plans, I mean, you know, basically to keep it simple, it's got the, the death benefit. We know what that does. That goes to your beneficiaries if you pass away, gives them a tax free, you know, check for whatever amount death benefit you have. It also has the cash value and that is what grows the compound interest over time. And that's what's going to allow you to be able to utilize it during your lifetime through like tax free loans or people can use it to supplement the retirement income down the road. So that's the cash value. And then most of these plans also have what's called living benefits and that allows you to access actually the death benefit. If you were to get a terminal critical or chronic illness, you could potentially have access to that death benefit. So you're also protected there if you have something like that. Does that make sense?

Yeah, it does. And quick, quick pause there. You're keeping it very simple, right? Like I, I talk to a lot of people and they, they're very intelligent but they get extremely in the weeds with like how the IUL works and like, like just on the, the first initial call, which obviously you want to understand the product and you want your client to understand the product. But like, why are you keeping it so simple? Especially on the first Initial call.

Yeah, because I mean most people, like, they want you to have figured out all the complexities of the product and what it does and how it is. They want to know that it's going to do what, what, you know, they think it's going to do or what they're wanting. Like they just want to know. So you have a great quote that you've talked to me about from, I think Jeff Bezos, about eating the complexity for your client. So I've done all that, like, I've done my research. I understand all the ins and outs. Like I'm a nerd with these products and with the indexes and all this stuff. But if I start going down that rabbit hole with these clients, I'm just giving them too much information, too much to think about. They're trying to figure out their job, their kids, their life. They're trying to do all that. They're looking for somebody that can get them where they want to go and, and, and, and, and le. And, and make it simple. So I just found that if you get too complicated or you're busting out all these facts that sound smarter than they're, they're just going to either lose interest or you're going to give them too much to think about and then they're just going to be overwhelmed and go talk to somebody else.

Yeah, it's like, it's almost like, it's like when I say selfish, I don't mean it in like a negative connotation, but like the people that are going into the entire detail, like they're basically, they're selling selfishly because they're only thinking about their best interests. And like they want to explain all this knowledge that they have. But like, prospect doesn't really care. Like they want to know, hey, is this going to do what I need it to do? And like, even when you talk to high level people, like I've sat on some, some calls with, you know, guys making multiple hundreds of thousands of dollars a year, like high up in companies. And like I'll watch an agent go through and explain like all this complex stuff which the, the client did ask about it, so it wasn't like he was just info dumping. Explain all this complex stuff. And then at the end of it he just goes like, so is this the best IUL that's out there? It's just like they just want it in the kindergartner simplicity. Like yes or no, will this do what I need it to do? Yes or no, right? And like you need to Understand it on a deep level. And you can learn that over time. You shouldn't just like freeze in inaction because you don't understand everything, but your clients don't care. And the, the ones that do, you can tell them, but majority of the time you should just keep it simple unless they ask.

Exactly. And that kind of feeds into the next step of the process. So elevator pitch just, and that elevator pitch is like you're hitting the main highlights to re. Re engage that interest or that intrigue, you know, that's probably already there, but, but that little elevator pitch. And then from there it's going to say, so that I'll be like, so that's how, that's how this product kind of works in a nutshell. But tell me, like, what was your main concern or what were you trying to do? Are you more so concerned with having like a permanent death benefit or, or were you really trying to maximize like cash value? What were you thinking?

For me, it's all about the cash, baby.

Okay, cool. Yeah. So you're trying to grow the cash value as much as possible, huh?

Yeah, yeah, exactly.

Okay, cool. And then, so there I kind of know what to focus on, right? I know what the client wants. So I'll say something like, okay, cool. Well, if you're, if you're, if your main focus is cash value, we call that minimum death benefit max accumulation. So you just throw out like that's the strategy. So that's how we would structure this for minimum death benefit. So what we're going to do is we'll lower the death benefit as low as we can so that you're building up the most amount of cash value possible and that's what's going to grow the compound interest. And then I'll say, and then I'll dig a little bit deeper because I really want to understand the client and their situation. I'll say. So, so if you're wanting the cash value, are you, what do you tell me a little bit more about your situation? Are you trying to utilize that like for your business or for retirement income? What are you thinking?

I mean, I like the idea of having it as retirement income. Like, I've, I've read a bunch of books about how like the government's going to raise the taxes and whatnot and 401ks are going to be things that are taxed. And so like, I like the, I like the idea of like having a tax tax free vehicle. Like I make too much money for a Roth ira, so I can't even do that. But I don't want to pay taxes on my retirement money, so that's kind of what got me interested in this.

Yeah, that makes, that makes it. That makes a lot of sense. People that hate taxes love the IUL and a lot, for sure. Yeah, me too. That's why I have it on myself. So. Okay, cool. So that being said, so now that I understand a little bit more about what you're trying to do.

Tell me about, like, your, like, are you an employee? Do you own a business? Tell me about your job.

Yeah, I own a business.

Out here in, out here in Texas. I actually own a. A dog poop scooping business. We do about a million bucks a month.

Yeah? Yeah.

That's incredible. Okay, cool. So how long you been doing that business?

I've been doing it for about three and a half years, really. Just, you know, started. I found a. A need in the market and decided to fill it.

So guys, when I'm, when I'm talking to a client, like, I get down to business, but I look for opportunities to really, you know, make connection with the client. So when they start telling me about their job or their career, that. To just build rapport, you know, find out more details about, you know, how long they've been doing it, blah, blah, blah. But. But that's pretty straightforward. So I'll find out more, more details about that and I'll say. And then I want to find. So I want to find out what they do for work and then I want to find out their income. So I'll say like. So basically, Tim, like, tell me about, like on an annual or monthly or annual rate, how much do you bring in roundabout? I know it might fluctuate with your business, but, like, how much do you typically bring in on income?

Yeah, I mean, our business is doing about a million a month. The margins are pretty high on dog poop scooping, so, like, we're probably doing, you know, 50% margins, 500k a month. But I, I don't take all that out of the business. I usually pull in about 200k a month personally.

That's awesome, man. That's incredible. You're killing it. That's great. Well, are you currently contributing, like, towards retirement? Do you have like an IRA or 401k or do you have anything in place right now?

Yeah, I mean, I have, like, I have one of those. I forget the name of it. I really just try to focus on business, but there's something where, like, I'm the owner of the business, so I can set up a 401k for myself.

Yeah, like a self directed 401k.

Yeah, yeah, I have that. And then like I said, I made too much for the Roth. And so really, like I'm, I'm honestly just dumping a bunch of money into like crypto and stocks right now.

Gotcha.

Yeah.

So I mean, the great thing about the IUL is that like you said, you're maxing out your Roth. You can pretty much get the, you know, the upsides that you get from a Roth from the iul. But the cool thing is we can structure this to make that ceiling as big as you want it. So if we were to, so if we were to set up the IUL to really maximize your retirement income down the road, like about how much do you see yourself putting towards it right now?

You said we were to maximize it, to do the income. I mean, I could probably put in, I mean, just conservatively to start. I mean, like 10k a month would be like a drop in the bucket and then maybe go up from there if, you know, I don't know, I just like, I don't want to dump all my money into something. But I mean, like 10k a month I think would be reasonable.

Okay, perfect. Yeah. So let, so and then from here, guys, like, it depends. Like sometimes if you're catching people and they have a lot of time to talk and they're not giving you really any indicators that they're super busy, then I can kind of feel out if I'm going to have a conversation and throw them into a zoom right there. Or I might throw them into that second appointment. But so all this stuff is either being covered on the first appointment or the second, depending on, you know, how busy they were. But from there I'm just going to go into an illustration. I say, cool, well, let's start with that. And, and then I can show it to you. And then I'm going to pull up an illustration, I'm going to put in his information, I'm going to, I'm going to set it up for max accumulation at 10,000. One question I always ask when they tell me a number and like it's always a starting point, right? They'll tell you something, but once they start seeing the illustration, they might decide they want to do more. And I'll say something along the lines of, okay, cool, so we can set it up for $10,000 a month and I can show you what that would look like as far as a tax free income stream down the road. But do you ever, like, if your business, it sounds like you guys have really grown a lot and probably going to keep growing. If things are going really well, do you ever see yourself contributing more than that, or do you think that that would always be kind of where you ma out your contribution?

I mean, I could definitely, I could definitely put more.

And if you were to, if you were to do, and this is just hypothetical, but if you were to do more, like, how much are you thinking? Like, if everything was going, going pretty good and well, how much do you think you would do?

I mean, I could probably put up to like 50.

Okay, got it. So right there, I'm going to show him two, two, two scenarios. Hey, if you just decided to do the 10,000amonth and you. And you started taking income, let's say at age 67, you know, I'll ask, depending on what their age is, when they see themselves retiring, those are questions I'm going to ask. I'll show them that scenario and then I'll say, hey, if you did want the 50,000, like, if you didn't end up putting the 50,000 into this, then here's what that would look like. And like, the light bulbs are really going to go off once you start seeing, like, the difference between. Obviously that would be a big difference of ten thousand and fifty thousand, but I'm going to show them both of those scenarios. And then in the, in the illustration, and then that's when we're going to start, you know, really, he's going to start getting really excited about what it does for him.

And real quick, like, pause. How often do you run into scenarios where people just want to dump money into it, you know, because obviously there's people out there that are making 200 grand a month. Like, I know a lot of them personally. I have a friend who puts in 25k a month into a participating whole life. So, like, yeah, people, there's like extremely wealthy people out there. And that's not even like, that's not even like extreme wealth. That's like, you know, right. Very rich in today's society. But I wouldn't say that's like, you know, that's not like, you know, billionaire status or anything crazy, but like, how often do you run into people like that?

I mean, off of this, off of this campaign, it seems to be an uptick. Like I said, I've done a lot of my marketing, wasn't targeting those people. And so that's actually one of the reasons I'm so excited about what you guys are Doing is because it's actually hitting people that are, that are in that scenario. So like off of this campaign, let like that, that, that first guy I talked to that's doing 50, 000. Like, I mean he was already like pretty sold on that. And then so, I mean, a lot of the people in my pipeline right now are like that.

Yeah. I mean, obviously maybe they're not making 200k, mom, but those people are 100 out there and like. Yeah, gotta. You just gotta talk to them and just not like. I think the key is like, you should react the exact same way when someone says they can put in 10k a month versus they say they can put $200 a month.

Oh, absolutely. I never get like super excited like when they start talking big money.

Yeah.

And it's the same amount of work, right. Like this. The same amount of work for a $200 a month client as it is for a $10,000 a month client. They're just looking for a certain. The person with the 10,000 is going to look for a certain level of competency and confidence when they're talking to you. But, but if anything, that client's going to be a little bit easier. Right. Because the $200 a month client is like worried about, you know, their $200, whereas the person that's 10,000, like they're, they're at a place of abundance where it's like, there's almost like, it's almost easier.

Yeah, yeah, 100%. 100% agree. Just wanted to ask that quick because obviously you've done a lot and you're currently working leads that we're generating for you. I think you. We just filmed a video before this. You did 52k nap off 600 in spend. But yeah, I mean those people are 100 out there. I'm just using an extreme example for, for entertainment effect. But it's not like. Just wanted to add in like that's not unreasonable that you'll, you'll find those people.

Yeah, I mean, I'm meeting with a guy later today, like in an hour, and he's wanting to do like around like two or three thousand dollars a month. And he said he's open to doing more if it looks really good.

So.

Yeah, all day long.

Oh yeah. Love it. All right, let's jump back in.

Okay, so where did we left. Okay. So that from there I've gotten how much they're gonna do. I'm showing them an illustration and then like the illustration is kind of, kind of like, kind of Do a lot of the selling, you know, a lot of the selling. For me, when I start showing on.

The phone, right, like this is the call you're just sending them. Are you now sending them a zoom link to jump on so you can show the illustration?

So it depends, it depends. Like I'm kind of like going through the whole process. This could be one conversation if things are going really well. It could also be this could be the second or even third conversation. Just depending. Like it just kind of depends on, it depends on how, like if I'm able to go into a one call scenario and I say like, and we can do that, but a lot of times this is probably going to be on the second call.

Got it, got it. Makes sense.

Yeah. And if, if it is the second call, I'm just kind of like reiterating everything they told me and everything they're trying to do. And then now I'm gonna pull up the illustration and show them how it's gonna get them where they're trying to go.

Makes sense.

And then I, I just, I, I and when I'm showing them the illustration, I'm just kind of giving proper perspective. I'm gonna say like, hey, like obviously the more you put into this, the more you're gonna get out of it. This isn't like a get rich quick. Like this is a commitment thing and it, and the compound interest makes sense over, over years and then even decades. But depending on how you're funding it, you know, depends on how quick that cash value does grow. And then you can actually utilize that cash value for tax free loans to fund your business. And that's where I'm going to get into like the weeds of like ways this could help that particular, that particular client specifically, you know, because sometimes they're, they're, you know, using debt, leveraging debt. And I can show them how they can borrow from their own policy rather than from an institution or lender. They can borrow from their own policy. And it can be like a kind of revolving door where they're taking money out, doing their deals, putting the money back in, and then eventually, you know, taking an income stream in retirement. So it's kind of just showing them the illustration. I say, you know, like, I give them a perspective, like, hey, in the first, you know, you don't want to, like, I'll tell clients, like, hey, the worst thing you could do is start this and then the first year, cancel it. You're just donating money to the insurance carrier, just making sure there's proper Perspective, making sure there's commitment, making sure that this is something they want to do. And. And then just show it. And then you're just. It's basic sales, right? You're finding what they're wanting, what maybe their problem is, and you're showing them how this is going to. How this is going to be a part of their picture to. To do what they want.

Got it. Got it. Are you able to, like, pull up a sample illustration? Just kind of like show how you present it? Because I think a lot of people. A lot of people get snagged on that.

So, Tim. So I'm gonna pull up a. I'm gonna share an illustration here, and let's. You can pretend to keep being my client. How old are you, Tim?

Let's say I'm 34.

34 years old.

And you're in Maryland, right?

Yep. Yeah, that's right.

Cool. So I'm going to pull up an illustration. This guy wants to do $10,000 a month, so I'm going to do max accumulation. This is that. This is vitality guarantee. They're a good carrier, so I'm going to do max accumulate. Well, I'll just show you. So max accumulation and income. I've already. Let's just say I've already been at his health. He's very healthy, so he's going to get preferred rating. We're going to do max accumulation and income.

And he wants to do 10,000 a year or 10,000amonth, which is 120,000 a year. Right. So how long do you see yourself funding, like, putting in that $120,000? How long do you think you. You'd be able to put that into this, to let it start snowballing and growing?

I mean, 10k a month is not a problem. I can do that for as long as I need to. I mean, the main goal is, like, I'm trying to build up some cash value so that I can use that in retirement and not have to pay a bunch of taxes. Perfect.

Well, that's. This is the right. Right plan for you. What age do you see yourself retiring?

I'm 34 now. I mean, like, I'll have the option to stop. I mean, I have the option to stop working now, but, like.

And live, like, very comfortably. I'd say probably in like, 10 years. Like, you know, like 45. But I could probably wait because I. I know, like, it's one of those things where the longer you wait, the bigger the payoff, right?

Yeah, it is.

I could wait to start pulling out of this until, like, I'd say like, maybe 50, 55.

Okay, cool. We'll start at 55, and then we can always adjust it.

Okay.

And then we're going to start with 10,000. So I'm going to go ahead and just do minimum. So it's going to lower that death benefit as low as possible to make 120the absolute cap. So this is. I'm talking to you guys. Not necessarily, Tim, but I'm going to do this scenario first. So let's start with the 10,000 and then let me show you, Tim, if you decided if you were able to do the 50,000, what that the difference, that would be.

Okay, got it.

And so typically speaking, if they're funding it for more than 10 years, I'm going to do increasing death benefit until. And then I'm going to switch the death benefit to level at the age they start drawing the retirement.

So let's see. I'll just leave it on these indexes for now.

So there must be a lot of dogs in. In Texas, huh?

Yeah, man. Yeah.

They eat a lot of food, too. It's like the. The toughest part about my business, man, is finding people that will go and just, you know, pick up all day. But there's. There's no shortage of people that will pay for it, that's for sure. Yeah.

That's amazing.

Yeah.

All right, so, Tim.

Let'S see. Age 55. Let me do this. Oh, I gotta switch this. Here we go.

I'm gonna. I'm gonna have him stop paying it at the same age that he starts taking it. There we go.

So while it's loading, I'll just be talking to the client, building a little rapport, blah, blah, blah, asking about their business. And you.

It seems like you're talking to a lot of business owners, too, which is good. Very easy.

Exactly. So on this. So when I'm showing them the illustration, there's a couple pages I'm going to focus on. I'm going to focus on the historical performance of the indexes that we're looking at. And I basically say like this. I say, so, Tim, on this illustration, I'm going to show you a couple of the main areas to focus on. One is like a historical look back. So they'll look backwards and tell you exactly, you know, how this has performed. But then on the illustration, they are federally. You know, insurance carriers are very federally regulated. So they're going to be conservative, and they have to be conservative. So they're going to give you a. A4 a forward projection. So but like the main thing to look at is like what it actually has done like 10.31 on this index.

The BlackRock one has been 9.7. So right now these are the two I would focus on because that's what we're doing. But as you can see on the illustration, they're going to be conservative. But it's always good to be conservative and then you know it be better than you think rather than the opposite.

Right? 100%.

So but I say just on a historic, on a conservative estimate at a 6.14 which is about 6, 7, 8, 9 between 3, 3 and 4% lower than what it has been doing. If you were to put in this 120,000 per year then you could, you could start taking in retirement a projected $536,000 and some change per year until you're 80 years old. So you would have put in $2.5 million into this and in tax free.

Income you would have gotten $13,400,000 pulled out of it. And that's not to mention all of the times you could have taken out tax free loans along the way to keep fueling and fund and leveraging debt if that's something that you like to do. So you could borrow from your own policy rather than an institution or lender because you have a lot of flexibility as far as paying that back and what time frame you want to pay it back, etc. So there's actually a lot of things you can do. And then I don't know, I would have talked to this client about their, their family and I would have, you know, emphasized that death benefit as well. But yeah, at 55, when you start retiring, the death benefit's 7.8 million and the cash value the next year or the, you know, income is this. And so that this is the kind of thing I'm going to show the client.

What about objections? Do you usually get objections or is it mostly like questions that they're just asking?

It's mostly, it's mostly questions. You know, depending on what kind of scenario we're looking at.

It'S mostly questions. I mean usually this is like pretty, pretty exciting for a client. Like wow. Like this is very, for this particular client, hey, this is very manageable for me to do based on my finances and then to be able to get you know, tax free this much out of it and, and the chances like, and especially if this is part of an overall picture where they've got and other things happening that they're you know, business that they're that in real estate maybe or whatever. Yeah, a lot of this kind of starts selling itself. But I wouldn't say there's a whole lot of objections. It's just questions. Now they might start, they may ask about this and this and I'll say like, hey, like I said, the insurance carriers are federally regulated. They have to show you that doomsday scenario. This right here is if the, you know, your money is not directly invested in the market, but it does, it is like mirroring the market. So if the market lost every single year and, and we never recovered. So if we went into the Great Depression and it never came out, then yeah, then this is not going to go very well. But nothing is going to go very well if that happens. Right, like this. This will be the least of your concerns. If, if the market loses every single year and we never recover. I mean, we're talking about an apocalyptic scenario that would be pretty bad all across the board, right?

Yeah, for sure.

So I kind of like, I, so I, I don't avoid this, but I also, like, I also paint a picture that like, hey, this isn't like they have to show the, the doomsday scenario. But is that going to happen? It's never happened in history. You think it's going to happen, like for, for 24 years the market's gonna lose?

So, so yeah, that, that would be one thing. But I also, I like showing them this chart because I'll say, hey, you know, like 2008s and P500, you know, everybody was losing money. The cool thing is you don't lose money when the market goes down from this. You actually would gain one, either 0.25% or 1.25%, depending on which index you're allocating the money in. So a lot of people like this because it's protecting their money from the downsides.

Got it, Got it. That makes sense. Definitely makes sense.

So, and then if we got time, I can just show you the $50,000 scenario.

And so this client said that he's, you know, can range. So I'm going to show him this one and then I'll show him the.

So you'll show them conservative. And then what's the max? So you always ask for two.

I, I will. If they, like sometimes they'll say, now if I'm gonna do this, I'll. I'll stay at the 10,000. Like I'm not gonna do. So then I'll just focus on what they're saying. But if they do think that there's, there's more money that's possible and if they really get excited about what I showed them there and they think they want, could potentially want to put more, then I'll show them that scenario too. And that way it can kind of like they can decide from there what, what makes sense for them and maybe we end up going somewhere in the middle like, well, let's start doing 20, let's do $20,000. You know, everybody's situation is going to be different, but they might, once they start looking at it. They might because people starting number is always sometimes going to be conservative. But then it might, it might like jump up from there, you know and.

What real quick because like, you know, every time you talk about IUL or whole life, you always get people coming out of the weeds, you know, very, very passionate and strong willed on, on one side or the other.

Yeah.

What would you say to the people? Because I'm sure we'll get comments of like I was a scam every time I run an ad that's like, you know, yeah, we'll generate UIULs, which obviously we do for people. And this is what, what we're doing with you right now by the way. If you guys want to learn more about that link in the description. We'll generate the leads, appointments, everything. We do it all for you. Link down below in the description. But what would you say to the people that are like IUL is a scam, it's always bad, it's never good for the client. How would you address those people?

So I try to be, I try to be open minded about, about everything why people say that. You know, there's some people that are very dogmatic about the, about the participating whole life. Some people that are like, it's like all these little tribes and everybody's like travel and stuff. Yeah, it's like I think I see value in pretty much every, like almost every life insurance product there is. Whether it's final expense term, whole life, iul, like there's value in all of it. It's just a matter of proper expectation and what you're trying to do. So as long as you're being ethical, honest and you're having integrity on what you're explaining, then it like for a certain client the IUL might make perfect sense. For another client it might not make sense. And so that's where like it makes sense if you explain it properly. But a lot of the people calling it scams and things like this is because there are agents that didn't structure it the right way based on what the client was trying to do. Because, like, if I was just to say, okay, cool, Tim, and I kept. I didn't even show it. Like, I didn't even show you an illustration. And I just said, okay, $10,000 a month. I'm gonna buy you $20 million of insurance on an IUL. Well, now all that money is paying for insurance. It's not paying for cash. It's not going towards cash value. So now, three years down the line, this guy's not going to have any cash value. And he's going to say, oh, this was a scam. It's like, well, the agent was a scammer, but the product itself isn't. It just wasn't structured the right way. So people just need to, like, be more educated. So, like, a lot of times people are just ignorant and, like, they just don't want to. Like, they don't want to learn and they don't want to realize that, like, there are people. I mean, I do. There was one guy, he was in his young 20s, and he delivered exotic cars. And so he was making a killing. Like, I mean, multiple six figures, and he would drive them from. From Texas to Canada. And he was making a ton of money in his young 20s. He was very smart, and somebody signed him up with an iul. And so he was putting, like, half of his income, if not more, into the iul. He was just somebody educated him. He was piling his money in there. It grew to, like, in his cash value, over $20 million.

In, like. And, like, not. It was, like, in his younger years. And when I talked to him, he was in his 30s. And so, like, that's a. Like, there's so many success stories, but people don't hear about that because, like, if I have that or in an iul, I'm not going to go into all these forums and start saying, bro, I have a success story. Well, yeah, they got screwed over that didn't get it set up right. They're the one that's going to go into all the forums and start making comments.

Well, I think it's also. It's like, you know, you have to be able to prescribe different solutions for different clients. Like, imagine if you went to the doctor and, like, no matter what your problem was, they just always prescribed you Vicodin. Like, yeah, hey, I have anxiety Vicodin. Hey, I have. I think I have cancer Vicodin. Like, that would be the dumbest thing ever. So, like, you have to be flexible and have different solutions. And like if somebody is less risk tolerant, then maybe you sell participating whole life. Or if someone doesn't have a ton of money and they just need something for burial, like sell them a final expense. Like you just have to be able to match the person to the diagnosis. And I think that's probably where a lot of the, the confusion comes is because you know, there's a lot of MLMs that just recruit, recruit, recruit people into the business and they don't know what they're doing and so they're just going out and you know, doing malpractice basically.

Exactly. Yeah, exactly. It's just, it's just that's, that's a good analogy. A doctor, like you have to figure out what makes sense for the client. But just briefly, like Obviously this scenario.

$600,000 a year, like it'd be $2.6 million of tax free income they could get out of this and they would have put in 12 million, pulled out 66 million in tax free retirement, plus a death benefit along the way, plus terminal critical and chronic illness riders along the way. And I'm emphasizing the benefit of all three buckets. Even though he told me that the cash value was the main thing, I'm going to keep harping on, hey, Tim, like if you were to get hit with like a major medical event, you know, a stroke or a heart attack or can't, you know, life threatening cancer, that would really, I imagine that could really affect your operations and your business, right?

Yeah, 100%. 100%.

Do you like the idea of having that safety net that, you know, knowing that if you did get hit with something like that, you know, that the death benefit could become accessible, you know, to be able to get you through that time?

Yeah, I mean, man, if I had $34 million, I could probably just buy a whole new body.

Exactly, exactly. Right. So, so that's kind of like, that's kind of how I walk through people on the illustration. I might show them this.

Sorry, I stopped sharing. Let me share one more time. I might show them.

And you can keep me on track with time, but I might show them this right here, I say, so this right here, Tim, is a cool thing because this shows you, you know, you've got the, this is, we set this up to be the max. So under, under this scenario you wouldn't be able to put more than $50,000 per month because otherwise you would start. It would become what's called a MEC or a modified endowment Contract. And that's where you lose some of those tax advantages that we talked about, being able to take those loans tax free. So you would always want to stay at that level if we set it up this way. But there is some flexibility if you needed to come down there, like there's a minimum premium. This is what would keep your policy in force. You just have to do $5,400 a year and I think that's a year. That might be a month. I'd have to double check.

But probably, I'm guessing it's probably a month. Yes, it's monthly minimum.

Yeah, yeah, monthly. There we go. So you would just have to do 5,000 in order to keep this in effect. Obviously if you do that, it's not going to build up the cash value like we're talking about. And eventually if you only did minimum, then eventually it would be more like term insurance that you're paying for rather than what we've been talking about. But there's also the target premium which typically speaking, if you're paying target like that would, it would build up some good cash value and be able to last, you know, forever. You know, it would most likely last, you know, forever, but it's not going to build up as much cash value if you're doing this. Obviously the more you put into it, the more money is going towards that cash value. That make sense?

100%. Yeah, that makes sense.

So I might show them that because sometimes like this is, this one's a, this is a high net worth individual. But if you're talking to people that they really want it and they've got the money but they're afraid, hey, what if circumstances change for like a couple months or knowing they have that fallback.

Dogs just stop pooping in Texas.

Yeah. All the dogs shuts down, all the dogs change their diet and exactly something happens. So, so yeah.

And then from there, I mean it's just, it like it's kind of hard to, to run through an exact scenario because every conversation is going to be a little bit different. But it's just if you understand how the cash value works, you understand how the death benefit works, you understand how the living benefit works, you can just communicate those tailored to the client to show them how it's going to do what they're wanting to do.

Closing. How do you, how do you do that? Like you show the illustration. I think a lot of people get nervous at that part, you know, especially if not everyone's obviously talking to people, talking about putting in 10k a month. But that definitely is going to come up. Like, how do you just transition and naturally just say, hey, you want to, you know, go and fill out an application?

Yeah. So, I mean, like, the main thing is, like, you're getting. I, I don't want to be just talking to the client the whole time. I want it to be a conversation, and I want to be hearing them talk to me along the way. So if you're getting those agreements along the way, hey, does that make sense how this works? Does that make sense how, you know, do you think that this amount of money in supplementing your retirement would be helpful? You know, blah, blah, blah. If you're getting those agreements along the way, then the, the application should become very natural. But usually it's something like, okay, cool. Well.

We'Ve kind of figured out what scenario makes sense as far as how you want to fund it and what death benefit would be proper to structure this the right way. Main thing is making sure we can get you approved. We have.

We.

You do have to get approved. It's not a guarantee. And so we would just have to fill out a request for approval and get that to the carrier.

So.

So we'll go ahead and do that. Now, with your business and the way you get paid, like, if it did get approved, is there a. Are you wanting to pay for the whole year or the month? And like, so you're just going, you're.

Going straight to annual payments?

Yeah, I'll ask them if they want to do that because it's kind of like just solidifying that we're moving forward. And if I ask that, that, that payment up, like, up front, it kind of like solidifies that we're.

We're doing this also removes your chargeback risk as well.

Yeah, exactly. Yeah. If I can get annual, I will. And, and if you're talking to people with more money, then a lot of times they'll do that too.

Yeah. 100. 100. Awesome. Any final closing thoughts in terms of the process or things, people?

I'll say this, I'll say, I'll bring it up. I'll say, hey, you know, like, I, I only work with a certain number of clients every month because my, my schedule is busy and I've, I've got a lot of clients that are reaching out, but I typically, I want to devote all my time to the clients that I do work with. So I'm going to move this forward. All I ask is that we keep communication open. I know you're busy, and I'm definitely going to respect your time. But if you do see me reaching out, just try to get back to me, like, at least within the same day, because I only work with a certain number of clients. And also, just so you're aware, like, there's a lot of agents out there that will say, oh, I could get you. I could get you this for much cheaper. But a lot of the clients aren't going to take time to show you how they set it up, like, how we set it up. And just be aware that agents, I'll kind of like, basically I'll explain to the client that the different ways of structuring it, and I'll say, a lot of people are starting these out and they're paying for way too much death benefit. And that's actually helping the agents, but it's not actually helping the client. So I kind of put that bug in their ear so that they. They feel more confident working with me, who's doing it the right way, and they're less inclined to just talk to any agent that's gonna, like, screw them over. So I. I'm kind of like, head off any competition before. Before it comes up by making them feel. Feel really good about what I'm doing for them.

That makes perfect sense. Love it. Love it, Josh. Appreciate your time, ladies and gents. You want to sell iul, Advanced markets, annuities, all that stuff, and you need quality leads to do so. Our team will run the ads, generate the leads, book the appointments for you. Josh is running this exact same system right now, and he's one of the client coaches inside of our business. So if you guys want to learn more about that, link down below in the description, you can jump on a call with our team and we'll walk you through a to see how it all works. Thank you guys so much for jumping on this coaching call. I guess it's coaching call, and I'll see you guys in the next one. Take care of.