SERVE, and Grow Rich

My friend and colleague, coach and author Steve Chandler, wrote this earlier this year:

“Most people try to move toward wealth in embarrassing, clumsy ways.  They have cynicism programmed into them from an early age.  So they want a course called Manipulate and Grow Rich, or Network and Grow Rich or Win People Over and Grow Rich.”

“They see companies like Apple, Amazon, Nordstrom, Whole Foods, Southwest Airlines, and Google, and they think ‘I need a big, clever idea like that!’ or ‘I need diabolically opportunistic branding and positioning!’  When that doesn’t work, then they think it’s time to suck up to powerful people…polish some apples and lick some boots!  Why?  Because it’s Who You Know that makes you rich!”

Yet all the while, there is a spirit that runs through all radical wealth creation…and we’ll keep it simple by calling it service.  All the individuals and companies I have worked with in the past 30 years revealed to me this underlying truth: wealth comes from profound service.”

If you’re working on a Business Plan, make sure it includes serving your clients profoundly.  To get specific, here are a few of Steve’s (and my) tips:

1.  Stop Pleasing and Start ServingAs children, we are conditioned to please.  “Were you a good girl, today?” Daddy asked, and what he meant was: Were you sweet, passive, obedient and not too vocal about your opinions?  Never did we hear him ask: “Were you bold and powerful?”  Or, “Were you courageous?”

Adults were the people with the money and power.  If we pleased them, we’d get that ice cream or that allowance.  As a result, too many of us learned to default to pleasing.  We want our clients to think we’ve been a good little boy or girl, so if we think there will be resistance to what we believe serves them best, we choose what will please them instead of what we believe they should do or have.

If we served instead pleasing, we would astonish our clients, instead of simply being “a nice guy”.  We would be making a real difference in another person’s life.

2.  Create Agreements, Not Expectations.  We become anxious because a client or prospect hasn’t done what we think they “should have” done.  Expectations belong in the recycle bin, along with ideas like a “no” answer being a rejection.  To fully serve and grow rich, you don’t need those anymore.  In fact, they will slow you down and give you a life of disappointment—even causing nagging and persistent feelings of betrayal.

If you want a client to do something, create an agreement.  Agreements serve because they are creative collaborations that honor both people.  They are like a co-written song.  Expectations, on the other hand, live and grow in us like cancer.  Nothing good can come from them.

3.  Don’t tell a client she’s wrong.  Proving that your client’s or prospect’s view or understanding about the world is wrong—no matter how ridiculous her opinion might be—is not serving.

Listen for the value in what she is saying before you respond.  Recognize the merit, and acknowledge that you see it.  Agree with the “objection” rather than trying to overcome it with a humiliating argument.  Instead, agree with her, and find a way to “reframe” how she’s seeing it.

“I understand that you don’t believe in life insurance, and if I saw it the way you’ve explained you do, I wouldn’t believe in it either.  What I do believe in is making sure my family has money at the most critical time that I won’t be able to help.  If we didn’t call it ‘life insurance’, wouldn’t that be something you’d want your family to have?”

Decide to give profound service, and wealth of all kinds will follow.  In the meantime, keep REACHING…


Don’t Forget the Most Important Person

If you’re like most people, as the holiday season approaches, you’ll find yourself juggling all of the things you have to do, including social obligations and gifts galore, and you may leave someone very important off of your list by mistake…YOU!  If you could have anything in 2015, what would it be?  And why don’t you have it yet?

When we don’t have what we want, we tell ourselves stories about why we don’t.  These stories usually involve our circumstances: Not enough time, not enough money, not enough education, the wrong kind of education, etc.  Or, they involve the people in our lives: Friends who don’t understand us, spouses who are overbearing, children who are demanding, sick parents, etc., etc., etc.

I often upset my workshop attendees and clients by calling the people or circumstances we blame for holding us back exactly what they are—excuses.  Not having money, time, or training may make getting what you want more difficult, but people whose circumstances are far worse than yours have overcome these obstacles by the sheer force of their commitment.

Make Time

A simple “resolution” you can keep in the coming months is to commit to giving yourself an hour’s worth of time to figure out what you want and what’s keeping you from having it.  During that time, ask yourself these Five Questions as part of a “SWOT” Analysis:

1. If you and I were to meet three years from now, what is the absolute minimum that will have to have happened in order to allow you to say your life is terrific?

2. What strengths do you already have that you could leverage to get you there?

3. What weaknesses will you have to acknowledge?

4. What opportunities can you take advantage of that will help you along the way?

5. What are the hardships and obstacles you’ll need to overcome to get to that point?

If you do this analysis before the end of the year, you can make plans you will keep for the next one.  Make time for yourself, and you’ll be able to maintain your festive spirit through all the seasons, even as you work hard to keep REACHING…


How To Keep Your Life Insurance Lapse Rate Under 5%!

Almost 30 years ago, one of my first life insurance sales trainers told me that if you have a ‘zero’ lapse rate, then you are not doing your job. His point was that if you’re not having a life insurance policy lapse every now and then, you are probably missing a lot of sales, because you’re not pushing hard enough to close the sale.

He was right and he was wrong! “Mostly Wrong!”

Yes, you’ll close many more life insurance sales if you are more aggressive and use the 101 sales closing techniques taught by most sales trainers. However, you’ll also have a much higher lapse rate, when buyer’s remorse sets in. Buyer’s remorse is the feeling of regret after making a purchase. It may stem from a sense of not wishing to be wrong, of guilt over extravagance, or from feeling that one has been persuaded by a salesman.

The truth is that… “People Don’t Like To Be Sold, But They Love To BUY!”

So, if you want to increase your sales and still keep your life insurance lapse rate under 5%, then stop selling life insurance (using the 101 ‘old fashioned’ sales and closing techniques) and instead help people to buy the protection they need for their family, business, etc. Plus, save for retirement, fund a college education and more.

Helping people to buy, means asking questions and getting people to talk about the problems they face, so they see and understand the problems so well, that they want to solve those problems!

Remember, that people don’t buy life insurance for themselves…but for the people they love. So, ask questions to get them to talk about the security life insurance will provide for their spouse and children, and the peace of mind they’ll feel. And, how life insurance helps them to meet the commitments and keep the promises they have made to their family.

Life insurance will now become a priority to them. They’ll practically sell themselves. And, you’ll close more and larger life insurance sales.

Remember also, that these buyers are still people just like you, and people don’t buy from just anyone. People buy from people and businesses they feel they can trust. And, they’ll keep their policies, if they believe that you have helped them to make the right decision for their family and themselves.

“To sell in today’s environment, you must become a partner with the customer, seeing their situation from their perspective and helping them develop their options.”

It’s this simple… “Telling Is Not Selling!” If you just tell people why you want them to do something… like why you want them to buy life insurance, then they’ll see you as just another pushy salesperson. However, if you ask questions to help people to first see and understand the problems they face now and in the future, and then help them to understand how life insurance will provide them with money, protection, comfort, security, pride, and love, those same people will value your perspective. And, when people value your perspective, they will trust you, buy from you and keep their policies in-force forever!

Yours in success,
Jeremy & Lew Nason
The 9 Out Of 10 Guys… 


A few years ago, I was asked to give the keynote address at the Thirtieth Anniversary Celebration of Princeton Toastmasters.  I decided to speak about Napoleon Hill’s discovery in the 1930s that the wealthiest and most successful people of his time were all following the same Simple Success Formula:

If you conceive an idea for something that doesn’t exist in the world today—an invention, personal wealth, fame, the success of your business, or anything else—and you believe it is possible, and pursue it with passion, it will become a reality.

“Whatever the mind can conceive and believe,” Hill wrote in Think and Grow Rich, “The mind can achieve.”

Or, stated simply: “Conceive It…Believe It…Achieve It!”

Thomas Edison conceived that electricity could be a safe, economical source of power for lighting homes and stores, towns and cities.

Andrew Carnegie, the original “Slumdog Millionaire”, conceived as a boy that even a starving orphan could rise through the restrictive societal structure of his time to become wealthy and influential.

Both of these men conceived it, believed it, and achieved it.

In 1993, an unhappy lawyer who had spent a year battling cancer and complications from treatment that left him disabled and bankrupt conceived of an idea for a career—as a speaker, coach, and author—that was nothing like the one he thought he was chained to for life.  He dreamt of helping other professionals who were struggling—or completely burnt out, as he had been—find their true calling and success.

But for years he didn’t believe what he had conceived, so nothing happened.  A full five years later, in 1998, it was having joined Toastmasters, and having built confidence as a motivational speaker, that helped him believe in the reality of his dream career.  The belief became so powerful that soon, nothing could stop him.

Now, over 15 years later, I visit firms and organizations throughout the country doing what I love.  I coach individuals who are going through equally challenging life and career transitions as I once experienced.  And I’ve written two books and countless articles, sharing the lessons that I’ve learned with an audience wider than I could have imagined.

The main one is this: You can have anything you want…You can be anything you want…You can do anything you want.  If you conceive it and believe it, you’ll achieve it.

Don’t be afraid to ask for help to find the right track and to keep yourself on it.  Until you conceive of doing that, or until you believe you can, keep REACHING…



A favorite hypothetical of mine:

Let’s imagine two professionals in the same field.  We’ll call them Advisor A and Advisor B.

We’ll give them the same educational background, the same training, the same resources and connections, and even similar personalities and work ethic.

But when we put them out in the field, I can promise you that one—let’s say, Advisor A—will do better than the other—our unfortunate Advisor B.

If we made them practically identical in every aspect, the only factor that could account for the difference in their performances is that Advisor A would be taking more of the kind of action he needs to take than Advisor B is taking.

But if their work ethic were the same, how could their actions be any different?

The simplest explanation is that for each, the way his world is occurring to him will be different: the way he views his work, the way he views the people he interacts with, and, of course, the way he views himself.

Advisor A might see his work as being important to the people he works with—something they need in their lives.

He might see the world as a safe and friendly place where what he has to offer is welcome.

He might see clients and prospective clients as open and interested in doing what they need to do for their families.  And he might see the people he works with as good people, who are there to support him.

Advisor B—the less successful advisor—might have a different view of his world:


Maybe it’s a difficult, unfriendly place, where you have to struggle to succeed.

Maybe he sees himself as a “salesperson”, who “bothers” people.

Perhaps he sees clients and prospects as closed and deceitful, and he sees the people he works with as being there to make his life difficult.

When Advisor B feels he is not succeeding, he tries to imitate what Advisor A is doing, or he enrolls in yet another course to learn another way to do what he already knows how to do.  He experiments with the latest and most advanced strategies and language nuances, and finds that none of it works for him.

Of course it doesn’t.  All of his effort is like trying to take the apples off of someone else’s tree and tape them to his own, withering tree stump.  It’s not the same, and it won’t yield any new, ripe fruit.

If you identify with Advisor B in this hypothetical, you should understand that it is a mistake to try to solve your work performance problems with more information.  You already know enough to succeed.  What you need is a transformation—an alteration in how your world is occurring for you.  Your “inner game” needs fixing, not your “outer game”.

Strategies and language nuances may help a little, but until you view the world as a place where taking action is easy and fun, you will continue to struggle.

If you’re not taking enough action because you are uncomfortable or overwhelmed, don’t spend your time, energy, and money on another course to learn new ways of doing the same thing.  Instead, get to work on your view of your world.

How different would your practice be if you believed that finding new prospects is easy?  That people are grateful for the help you offer?  That it’s OK to tell them what you believe, even if it might upset them?  That you bring value to everyone you speak with?

Change your inner game and you automatically change your results—but only always.

I always believe in game-changers, so contact me if you’re in need of one.  In the meantime, keep REACHING…


What Can I Do Today, To Increase My Life Insurance and Annuity Appointments and Sales… Right Now?

It’s the first question I ask myself every morning! It’s the question every agent and advisor should be asking himself or herself everyday! What can I do right now that will increase my sales and income, today?

When was the last time you asked yourself that question? What was your answer?

Was your answer: Buy more leads? Run an ad in the local newspaper? Send our more direct mail and postcards? Offer more dinner seminars? Contract with a different marketing company that offers leads and take a reduction in your commissions? While these are all viable solutions, aren’t you just throwing more and more time and money at the problem?

Isn’t there a better way?

There are three ways, and only three ways to grow your sales and your income.

As all of the marketing gurus will tell you, there are three ways, and only three ways to grow your sales and your income. You can:

  • Find and attract more new prospects.
  • Convert a higher percentage of your prospects into appointments and sales.
  • Increase the size of each sale, or make more sales from each prospect.

Most agents are only focusing on the first way… finding more new prospects. Unfortunately, isn’t finding new prospects the hardest, most time consuming and most expensive way to grow your business? Aren’t each of the viable solutions mentioned in the above third paragraph all focused on bringing in new prospects?

Do you want to increase your sales and income right now? Do you want to stop throwing more and more time and money at the problem? Would you like to spend less time calling prospects (leads) and begging for an appointment?

Then you must learn how to convert more of your prospects into appointments and sales! And, learn how to close more and larger sales from each prospect!

Converting more prospects into appointments and sales

What if, starting today, you could double your sales and income? And, dramatically decrease your expenses?

Converting more prospects into appointments… If you are currently setting appointments with one out of every five prospects (leads), then in order to have 10 appointments per week, don’t you need 50 prospects (leads) per week? At a minimum of $20 per prospect (lead), wouldn’t you spend $1,000? Plus, how much time are you (or your staff) spending calling those prospects (leads) to set appointments?

If, starting today, you could set appointments with just two out of five prospects, then in order to have 10 appointments per week, wouldn’t you only need 25 prospects (leads) per week? Haven’t you just cut your lead expenses and appointment setting time in half? Isn’t that a savings of $25,000 per year?

Converting more prospects into sales… If you are currently closing one out of every three appointments, then in order to average 3 sales per week, don’t you need a minimum of 9-10 appointments per week?

If you could increase your closing ratio right now to two out of every three sales appointments, then wouldn’t you double your sales to 6 out of 9-10 appointments? Wouldn’t you double your income?

How much better off would you be?

Closing more and larger sales with each prospect… Now what if, starting today, you could increase the size of each sale, or make more sales from each prospect?

If you are closing three sales per week at an average of $600 per sale, doesn’t that mean you would be grossing about $1,800 per week, or about $90,000 per year? Subtract the expenses ($60,000 for leads, gas, etc.) and wouldn’t you net about $30,000?

If you could increase the size of each sale to $1,000 (or close multiple sales), doesn’t that mean you would be grossing about $3,000 per week, or about $150,000 per year? Subtract the expenses ($60,000 for leads, gas etc.) and wouldn’t you net about $90,000?

Are you ready to learn the secret to increasing your sales and income… starting today?

Here’s The Secret

What’s the secret to setting more appointments, and closing more and lager sales? It’s learning how ask the right questions to help your prospects (leads) to see and understand the problems they are facing now and in the future.

If your prospect doesn’t believe they have a problem, then is there any reason for them to set an appointment with you, let alone buy from you?

Isn’t setting an appointment the first sale you have to make to your prospects? Aren’t you selling them on why they should meet with you? However, if you tell them they have a problem, will they believe you? After all, aren’t you just a salesperson in their eyes? As far as they are concerned aren’t you just trying to get them to spend more money that they don’t have?

Telling is not selling!

If you want more people to set appointments with you and buy from you, then you must get them emotionally involved. And, that’s by asking questions to get them to tell themselves they have a problem! The more questions you ask during your appointment setting process the more appointments you’ll set. And, if you learn how to conduct a good thorough fact-finding interview, you close more and larger sales!

You can increase… Your Life Insurance and Annuity Appointments and Sales… Right Now! And, you can cut your expenses! It’s easy!

Consider, if starting right now you could close just one additional sale, or close one larger sale per week what would it mean to your income… to your family… to you?

Yours in success,
Jeremy & Lew Nason
The 9 Out Of 10 Guys… 

To Attract Clients, Create Advocates By Sandy Schussel

The other day, I was listening to a very successful advisor and entrepreneur talk about how client “attractors” are so much more successful and less stressed out than client “chasers.”

One of my books is all about how to be a client attractor, and for nearly 15 years, I’ve been talking about how attracting clients starts with figuring out how to go beyond satisfying your existing clients in order to create passionate, loyal and enthusiastic clients — referral partners — who go out of their way to bring new clients to you.

You create these advocates and referral partners by paying close attention to three activities: Continue reading

How do I pay my bills in the short run, while I am building a Life Insurance business for the long-term?

A few months ago I posted a series of articles on ProducersWeb… Helping prospects see you as a financial advisor and not a salesperson.

In the first article I stated that if you want long-term success in this business… “Then you must stop doing the things that 90 percent of the agents and advisors do to have short-term success in this business. Short-term success is playing the numbers game, contacting strangers, and trying to set enough appointments with whoever will meet with you. It also involves selling a product to make a quick sale and to generate some quick income.”

“Long-term success is about you providing a valuable service to everyone you know. It is learning how to truly make a positive difference in people’s lives, so they will want to do business with you, both now and in the future. They will also spread the word about you and the great services you provide.”

Here is a question I received, and my answer…

Question: How do I pay my bills in the short run, while I am building a business for the long-term? Continue reading

You Do Not Have To Be The Product of Your Circumstances

Our Insurance Pro Shop® was founded in 2000 by my father Lew Nason. He was a successful insurance sales agent who was often referred to in our industry as “The nine-out-of-ten guy!” Lew was identified thusly because he routinely closed nine-out-of-ten sales. But, as sales and marketing training were provided less-and-less by insurance companies, broker dealers, or annuity packagers, the requests for him to speak and train nation-wide grew so numerous that he founded the now famous Insurance Pro Shop® and became a full-time ‘instigator’ on how to improve sales and client services using proven methods that have changed with the times. The following article is based on the questions I receive most often as Director of the IPS.

Why do so many agents and planners struggle for years and remain only average producers?

Because they remain the product of their circumstances! Their circumstances dictate who they are and what they do. They are influenced by the sum total of their environment. These circumstances mold their self image. They accept this. They settle for this. They do not realize that they can change their circumstances for the better. They can vastly improve any circumstances. They all have this ability – this power. They need to follow proven sales systems. But most use no system at all. They do not know how to accomplish appropriate change in the circumstances that dominate them. It is a shame that today they are expected to be successful almost by accident.

How is it possible to close nine-out-of-ten sales?

By doing everything right, long before you get to your close. By targeting only highly logical prospects in the first place. Aim for intelligent prospects. By taking the time and care to qualify your prospects in advance. By being as precise as you can about this. Then focus in on their expressed needs and desires! By always doing complete fact-finding and cross-checking to be certain about what was really best for their circumstances. Often it is appropriate to gently but accurately inform and educate by explaining on the spot. (Using simple ‘5 Minute’ presentations) Most times I found that it was best to fulfill one primary want/need first to gain their trust. And, then later work with them to ‘find the money’ to fulfill all of their needs and wants. They were more receptive to this.

I always managed to place my mind channel parallel to that of the prospect so that I would not approach them from the perspective of a salesman, but from their own point-of-view. Once they became satisfied clients they then felt both secure and appreciative. They were now comfortable in providing me with leads (referrals) from among their personal contacts. The goal was always to help the client ‘bring home their bacon’ and of course I wanted to be worthy of forming long-term relationships.

Serious Hard Times Are Upon Us All

How has the consumer changed in recent years?

Charles Dickens could write another Bleak House about our present times. Massive recent changes have impacted the USA consumers. Our citizens feel vulnerable, betrayed, exploited, and they have lost their trust starting with the federal government. It is not necessary or realistic to target only the wealthy. But our middle class is now being pushed and squeezed from all directions, even to the point that threatens their continued existence. Once cost-of-living prices go up history shows us that they never go back down.

And our cost of living in the USA keeps rapidly increasing. Your prospects have been further jaded by the unpunished corruption that Wall Street and the banking industry ‘masters of the universe’ types got away with due to their incestuous relationship with Washington. These ‘over-the-top ego centered’ executives allowed their personal greed to triumph over their character, honor, and morality. No one representing the people has had the courage to pursue justice for the people. Presently this unfairly punishes all agents and planners, a group that had nothing to do with our massive economic downturn. Agents and planners are also victims.

Consumers trusted and played by the rules only to be shafted. They lost jobs, investments, retirements, homes, and more. Technological progress and economic downturns quickly changed consumer realities and habits. Negative experiences or images of once trusted institutions have altered consumer faith and expectations. Our citizens have been forced into record numbers of bankruptcies. Major mortgage companies have routinely told their clients that they were modifying their loans while they were in reality moving ahead with record numbers of foreclosures, many of which were illegal. And these mortgage giants got away with this. Outright crimes by mortgage companies have gone largely unpunished.

The regulatory agencies once created to protect consumers have only aided and abated the financial giants and corporate special interest in their greed, exploitation, and self-serving. Our lack of political leadership at the White House, and by both political parties, has combined to bring a loss of confidence to our citizens regarding the federal government itself. Now they fear the feds. Many think the feds are their enemy.

Consumers know that special interests now own what was once our federal government and the special interests are allowed to exploit Americans at will. American citizens, in great numbers, no longer believe our political system actually works as originally intended. The system no longer works! Americans are now suspicious of all financial entities, such as banks, mortgage companies, insurance companies, mutual funds, hedge funds, and so on. Rightly so!

Today greed and exploitation run amuck from coast-to-coast. These are the victimized people you must face, sell, and serve. Actually they need your services now more than ever before but many of them are so bitter, or even hostile, that it is now far more difficult just to get their attention. You just might be the last person left who truly has their best interest first and foremost. But you will have to work harder to get them to believe this.

Have the many recent changes in the world of financial products and services affected the Insurance Pro Shop®?

Yes! Those major changes have impacted the IPS enormously! They are the reasons that the IPS is now so strong. These same influences are impacting you. Free ‘quality’ sales and marketing training dried-up. Affordable sales and marketing training became unavailable. Markets rapidly changed and new laws appeared. Agents began to struggle in large numbers. There was a big trend, or movement, toward becoming financial planners. The numbers of agents began to rapidly decline. The agent associations and the financial planning association, including the largest of these, began the hemorrhaging of members eleven years ago.

Get Away From the Cold

What new development most stands-out for you?

Our planners and agents are more stressed and challenged than ever before. You are well aware of this. They deserve affordable, practical, and qualified sales training opportunities, plus they deserve a place where they can ‘get away from the cold,’ not have to guard against being exploited, and not be conditioned to push only certain products. This should be a place where they can relax, interact, and above all gain exposure to the current proven sales methods with the high-class peers of their profession.

During the time period of the last eleven years, the appearance of self-styled and high-priced guru sale consultants began to grow rapidly. Many struggling motivational speakers became sales ‘experts,’ but are without any significant qualifications. So our agents and planners now have ‘tougher’ or more cynical and demanding clients, plus various types of self proclaimed ‘experts” are now actively attempting to take advantage of them.

They are promised everything from “I can make you a millionaire in a few months!” to “We have discovered the quick-and-easy magic formula for your instant massive sales success!” Or “We have trained many countless thousands who became huge financial successes!” One financial consultant claims, “I will give you the DNA of sales success!” But mostly they only exploit those earnestly seeking to improve their production. Most time proven basics remain applicable today because they are still effective, but many new and even experienced planners and agents are not fully aware of these and how to apply them.

In our history there have been many great names in financial sales training. We are following in the legacy of these great sales training talents such as Jack Kinder, Gary Kinder, Clyde Bedell, Claude M. Bristol, Frank Bettger, Charles B. Roth, and the late Maxwell Sackheim. Sackheim once reigned as the all-time direct mail champion, according to the Direct Mail Marketing Association. Max Sackheim founded the Book-of-the-Month Club. He left his direct mail reference library to Forrest Wallace Cato. He was later replaced in DM results by David Avrick.

Loren Dunton the founder of financial planning also left his financial planning library to Cato. Today at IPS events, Cato speaks on how to create, establish, and maintain your desired image as the leader in your sales area.

In recent years, during this present recession that closely resembles a total depression in many regions across our nation, it is far more difficult for agents and planners to ‘bring home the bacon.’ And it is equally difficult for their clients to ‘bring home their bacon.’ So we all have to work harder. Yes harder! At the IPS we do not offer any magic formulas or instant solutions! Plus each of us must work more carefully, and smarter, and improve our time management, and practice only habits that are well-proven to provide the best results for these changed times and markets.


Here is a recent advisor success story… “Lew & Jeremy, I wanted to say thanks for all your efforts in making my business stronger and more effective. I have to tell you that, while using the tools and knowledge I’ve acquired from your training and programs, I just completed the four most successful months of my career. Working with you and Jeremy has given my business a whole new perspective. It’s exciting to see folks respond to the techniques you teach and how they can protect their families and/or plan their retirement. Thank you for making me better at helping people. It’s a pleasure learning to be successful working with you and Jeremy at the Insurance Pro Shop! P.S. I’m looking forward to seeing you at the September TAST Boot Camp. Brad Stewart, RFC, CFLA, June, 2014 (15 years in business)


Benefits Of You Owning Permanent Cash Value Life Insurance

As we’ve discussed in previous articles, if you want to succeed with selling life insurance (or any product), then you must ask questions to help your prospect see and understand the financial problems they are facing now and in the future. You must ask questions to get them emotionally involved in the sales process.

If your prospect does not see they have a problem, then why should they take the time to meet with you, or buy from you? Remember….

‘People buy based on emotions…
and then justify their decisions based on logic!’

Once you’ve helped your prospect to identify their problem, and they are emotionally involved and they want to solve their problem, then you can provide them with the logical reasons (Benefits) of why they may want to use Permanent Cash Value Life Insurance as the foundation of their financial plan. (Whole Life, Traditional Universal Life and Index Universal Life)

Benefits Of You Owning Permanent Cash Value Life Insurance

Permanent Cash Value Life Insurance is a very unique and flexible financial planning tool to help you and your family to achieve real financial independence. Properly structured and properly funded, Cash Value Life Insurance provides you with these exceptional benefits…

  • First and foremost Cash Value Life Insurance provides your family with the money they need in the event of your death… to replace your lost income, pay-off mortgages and pay-off consumer debts, along with paying any medical expenses and burial expenses as a result of your passing.

  • By purchasing cash value life insurance while you are young the premiums are low, and will remain level throughout your entire life. (If properly funded)

  • You own the policy instead of renting it. You have complete control.

  • You don’t have re-qualify for the death benefit protection, as you grow older.

  • Cash value life insurance is a forced savings plan. It forces you to “Pay Yourself First!” When you understand that a portion of all you earn is yours to keep but not to spend, great wealth won’t be far behind.

  • Unlike qualified plans, there are no caps (limits) on how much money you can save each year. (You are only limited by the size of the policy.)

  • Your cash values accumulate tax deferred.

  • You have a liquid ‘emergency fund’ for life’s unexpected events.

  • As the cash values accumulate you are buying and paying for less death benefits.

  • The cash values can be accessed income tax-free and penalty free prior to age 59½.

  • Because of the disability waiver of premiums and death benefits, C.V. life insurance is the only self-completing savings, college funding and supplemental retirement plan!

  • Cash value life insurance is not attachable by creditors.

  • Cash value life insurance doesn’t count as an asset when you apply for college financial aide.

  • By over funding a cash value life insurance policy, up to the MEC guidelines, it can become “investment grade life insurance.” (Missed Fortune Concept)

  • The cash accumulated in your policy can provide you with a tax-free income in retirement. (Taking withdrawals up to the cost basis and then borrowing the remainder)

  • You’ll have the protection of life insurance in your retirement years, to replace lost pension and social security income for your spouse, at your death. (‘Pension Max’ concept)

  • Unlike qualified plans and annuities, the death benefits and cash values are transferred income tax free to your beneficiaries.

  • Cash value life insurance generally bypasses probate. (And it is private, no public records)

  • Cash value life insurance can be used to pay income taxes on qualified plans and your estate taxes at your death.

  • Safety – All 50 states have something similar to FDIC for life insurance policies and annuities… Plus, insurance companies must, by law, cover at least 100% of their liabilities with reserves, hence the term “100% legal reserve life insurance company.” There are also regulations as to the percentage that can be held in certain forms of assets. This system has produced a remarkable overall record of solvency and safety.

  • Guarantees – Only Life Insurance and Annuities guarantee your investment principle and offers you minimum growth guarantees for the life of the contract.

  • You can also use Permanent Cash Value Life Insurance to create your own bank… as outlined in the ‘Money for Life’ and ‘Infinite Banking’ concepts.

Mehdi Fakharzadeh, RFC - "MDRT Life Member" Shares His Knowledge At The Insurance Pro Shop's Trusted Adviser Success Training

How Good Is Cash Value Life Insurance

According to Barry Van Dyke, (Author of The Pirates of Manhattan) “Cash value life insurance is one of the most important assets of a bank, particularly America’s large banks.

Banks purchase so much cash value life insurance, that life insurance of this type has its own name BOLI (bank-owned-life-insurance). Banks own so much BOLI that the banks could be considered life insurance companies unto themselves. According to the Federal Deposit Insurance Corporation (FDIC) and the General Accounting Office (GAO), BOLI is a cornerstone of a bank and one most important assets in the nation’s banking and financial systems.

At the end of 2004, 3,474 of the America’s banks owned, in the aggregate, $65.8 billion of BOLI. At the end of 2006, 4,082 of the nation’s banks owned BOLI. Aggregate cash values of BOLI soared to $106.82 billion, a 62 percent increase over 24 months. At the end of 2007, banks increased total holdings in BOLI to $120.03 billion. The total life insurance (death benefit) to the bank is approximately five times the total cash surrender value.”

There is no question that permanent cash value life insurance is a ‘safe money’ financial work horse which has stood the test of time. And as good as it is for banks, permanent cash value life insurance is even more valuable to families.

Yours in success,
Jeremy & Lew Nason
The 9 Out Of 10 Guys…