Indexed Universal Life vs Whole Life Insurance, Agent Interview

Hey what's going on cash flow hackers it's Chris with life 180 and I'm here with Jeff Moore Jeff the wealth Builder on Instagram so go check them out now that we got that out of the way we are at well first of all dude thanks for being here thanks this is awesome it's been a pleasure yeah man and so um Jeff and I actually met last year we're at funnel hacking life right now

It's uh the best marketing conference best like for those of you who don't know I've been using click funnels since month one that they started back in 2014. and I've been doing it since 2014. it is if you do marketing it is hands down in the world I Concur and so we met last year actually having dinner randomly um and we met and like this year we just kind of like stayed more connected Jeff is also in the Life insurance

space in the wealth coaching space and I was just like you know what everybody's probably sick here, in my opinion, all the time so why don't we get some fresh blood on here well first of all awesome first of all I would like to say thank you for building the platform that you're building with the life 180. I think it's a refreshing thing to have a platform that is so intentional about getting good information out to the public so kudos

To you thanks man you're doing an awesome job you know follow your platform and we need more people like you to be Ravens and fans of what this industry is amen we need you to step it up and keep doing it I'll go and do it I'm going got it so guys follow and support him, yes and that'll be awesome and I'm blowing up on Instagram blowing up I got like 3 000 followers I'm going huge yes yes so so go check me out on Instagram too if you got real

Chris Kirkpatrick over there I just like confuse everybody and change my name on all these different platforms but so so let's talk about this a little bit because let's go got we got a lot going on yeah in the world right now yes a lot of political uncertainty a lot of economic uncertainty inflation uh uh you name it Joe Biden's amazing I mean no not really but should I not go there but the um go days are so so

Indexed Universal Life vs Whole Life Insurance, Agent Interview

Here's the deal but the great thing is yeah what people need to realize that politicians are not going to save your life totally so you know one of my core fundament beliefs are is that you know this country really is on a trajectory that we're producing fights between themselves totally so it's like we got to get out of that whole Space we like in a real negative

Space right now is about political party and political we Americans you know so it should be about the movement and the progression of America, not a political party and that's one of the things that I you know I'm just on an I'm gonna get off the cell box right now that's one of the things that I hate is that we are creating two separate and distinct Americas and I don't like it no I'm with you and my perspective on that is nobody's come to save you

you Better save yourself and to that point like so you and I both love whole life insurance right yes one of the challenges that I have whether it's investing in stocks index universal life which obviously everybody knows how I feel if you watch this Channel about that whole life insurance any Financial product it there is no good product there's no really bad product it's just is it good or bad for your situation good or bad for your

Objectives and goals and what your scenarios well I disagree okay I don't think I think there are good products and then I think there are bad products and I think there are products that should never be sold okay and one of the products I think should never be sold is index universal life or universal life so you can put me on a record for that because the way that those policies are actually designed they're designed to run out of money before you die so that

Is not something that I would like to be a ravaging fan of yeah yeah because it only helps the insurance company it only helps the agent and it doesn't help the person so I like to create win-win-win situations and win-win-win scenarios that everyone wins it's funny to say that so I had a conversation with a guy who does uh marketing for an iul guy I'm not going to name names but um so I had a conversation with them the other day and you know we were talking

About the good and the Bad and the Ugly of index universal life and whole life and where does one fit and you know it was a productive conversation it was was actually I was really impressed by the way he handled his side and I think we had this really productive you know back and forth one of the things that I think was an aha moment to him was he's like well you know worst case scenario like the Problem with index universal life is that agents don't design policies right and I'm like well that's the first problem the second problem is even if you design them right there's still a chance that there's going to be a lot of problems right now there's not I'm not saying everyone is going to blow up everyone's gonna laugh but they're not going to perform the way that you think they're going to and that's the first problem and the problem on the front

Indexed Universal Life vs Whole Life Insurance, Agent Interview

End of it is there are a lot of uneducated people that are selling a product that they don't understand the people that are relying on them for their financial Futures and that's going to lead to a lot of problems the beautiful part about whole life is even if you've got a bad whole life agent and they don't know how to design a policy properly it's impossible to hurt a client if you stay in it long enough that's right like it is

Bulletproof you know as far as that goes now I would say that you know there are optimized ways and there are ineffective ways and I have plenty of critique for certain whole life agents that do it you know selling all base policies so to speak but like even those people that are doing that you're never gonna hurt somebody from a 30-year perspective you know and iuls you absolutely will yes or can I should say I just think that

There's too many moving Parts yeah in iul sure too many targets that must happen at the exact perfect right time for you to get any kind of optimization out of those plans and the likelihood of that happening even with a a skilled and a design agent is is is is is is is you're talking less than one percent yeah because the the problem and then where they will tell you well well if all if everything goes bad just lower the death benefit and that'll help it

Out internally but life insurance wasn't designed for you to lower I know your expectations I know if that's what you're buying them for like why would you do that you have you seen my iol challenge no I haven't told me about it so I created an iul challenge because like I got tired of hearing index universal life agents trying to convince me that I just didn't get it and I said all right that's fair like hey you're wrong I've

Been in this industry longer than you and I've seen it and I understand the products inside and out and they try to tell me I don't but then that's another story so but you just you can't argue with them you know like it is what it is and so I created The iul Challenge okay to basically say all right show me a policy that's 10 years old I want the submitted illustration with that policy right show me that

Illustration 10 years ago what's the story of index universal life upside potential downside protection right what's the last decade been the most upset potentially ever going to see a greatest bull run of all time right okay so what happened is the last 10 years I said show me the originally submitted illustration and then show me the m-force illustration just matching the original illustration which if if it's got upside potential and

Downside protection we just went through the greatest bull run you should have captured a lot of that upside right so every policy should have outperformed as they were sold so I said show me one policy and I said the first iul agent that can do it I'll give you a thousand dollars cash out of my pocket and I'll even bring you on my show and tell everybody how amazing of an agent you are it's two factors that will prevent that from ever happening yeah

You you got the cost the internal cost of that policy and don't talk about the option costs and how they have increased every year totally and all of the crazy options now that they're trying to sell those things under proprietary indexes oh my gosh don't even get into that right but the one thing that makes it harder for index universal life to perform each and every year is the rising cost of that term insurance like the older you get the Worse and the harder that your money has to operate for you to even get back to Eden and if you don't if you especially if you don't get out of the gates really good right and reducing and cap rates and all these different things that are happening and then a lot of consumers they think math and money are the same things and math and money is not the same like one plus one in math is always going to equal two but one plus one in money is never going to equal two

Because there's too many other factors that go into play you know you got taxes you got fees you got so many other different things that contribute to the performance of that and I think that's what makes it hard but furthermore the reason why I'm not such a big Advocate or big fan of index universal life is that you know I recently had someone you talk about your iul challenge yeah and I had a story of a prospect he reached out and

Indexed Universal Life vs Whole Life Insurance, Agent Interview

Called me and you know he had an index universal life plan for 22 years yeah he was putting 400 a month in a plan for 22 years and he and we got a copy of his enforced projection and he had no cash like zero cash which is crazy policy so his 400 a month right now is paying basically for the base month of insurance and then in two years he's gonna be required to put more money in the plan or he's going to lose it he's like a hundred five

Thousand dollars out so what kind of improv what kind of taste does that leave in his mouth or the life insurance the hard part about that too is like that was a poorly designed iul policy on its own if it had no cash I'll be on the record as somebody who doesn't like you to say that even as an iul it should have done better than that if it were designed properly it obviously was just part of the design policy but furthermore this goes back to what I was

Saying earlier about the conversation I have with the marketing guys like that's the problem with iul you're never ever ever ever ever ever gonna have it happen where 22 years from now somebody's put 400 bucks into a month into a whole life policy in 22 years having no cash value you're always after 22 years gonna have more money than you put into it especially if you use it a good dividend paying whole lot yeah as long as you're utilizing a participating

Yeah that's always a caveat on this channel yeah yeah so yeah yeah for sure so so talk to me like give me like I don't know we're not prepared for this, by the way, I'm just ripping you know whatever that's all right so so give me like your top I don't know one two three four five reasons that you love whole life insurance oh gosh just give me one give me what you got one is guaranteed interest I

Love the fact that you have a policy that no matter what's going on you got guaranteed interest built into a contract yeah Bar None the greatest thing that you can have the second thing is you got the opportunity to earn dividends and once Dividends are declared they can never be taken back and I like the fact that insurance companies even you know they've been operating the companies that we use over 100 years and they've consistently

Earned money and made money and when they make that money they share that money with its policy orders so I love the fact that you have one of the oldest financial institutions skilled at making money partnering with you to make money on your behalf so I love that fact so that's two things the third thing is that you get tax accumulation money the money that's going to grow tax-free that you don't have to worry about the tax man yeah and and

A lot of people are not paying attention to the tax ban right now which they need to be because taxes are going to go sky right you know taxes are going up it's impossible for taxes to even remain where they are right now you got 31 trillion dollars of debt and the number is growing at an astronomical Pace, more importantly, the scary thing is is that Congress is functioning right now like we don't have any debt so they're spending money it's scary

They're spending money like uh you know like it's happy hour and they are buying all the rounds they like coming in hey we Congress hacking live government come on baby we spending everything so you know tax uh uh safety is is one of the great things another thing what I like to teach my clients to do is how to leverage the cash value to go buy other assets when they are on sale so like right now we're looking at two things that's having a little turbulence

Right now you got stock market that's one turbulent you got the real estate market that's going turbulent this is a great time to have a pool of money that's safe that you have access to that you could go out and get an account you can go and get an opportunity you could go buy something on sale that's going to be able to produce a revenue uh for you and your own you can use that money to start a business I mean yeah and the more important thing which I've used it

On myself for too is invest in like conferences that we are attending right that's in yourself that's the best investment first investment you're gonna the best investment you're ever gonna make is in yourself and it's going to return the greatest premium period like and if that's not the case you need to reevaluate your life exactly I'm a big believer in that exactly so so oh I only get you four I can go on and on I mean we got an uninterrupted compound

Interest your money can grow without it ever losing any Force you know it's kind of like having money in an account that is super turbocharging on your behalf all throughout the phases of your life I mean you have to love that more important and and a lot of things that I stress with my clients is that it is a great financial equalizer especially for my clients I serve primarily are in the black and brown Community it's a financial

Equalizer because it is the only product that will be able to do multiple things it's like a Swiss army knife that could help you build wealth it'll help you grow your wealth protect your wealth and more importantly pass your wealth on totally and that's one of the things that we are very intentional in doing is closing the web the wealth Gap here in America and we use life insurance as a force to do that I think that's super important that that point alone so in a

Indexed Universal Life vs Whole Life Insurance, Agent Interview

World, where money is so tight where people are so stretched thin getting your each dollar to perform more than one function in your life, is so powerful everybody needs an emergency fund everyone everybody should have an opportunity fund everyone everybody should have their money doing more than one function for them getting life insurance living benefits savings guarantees preparing yourself for all

That you put your money in a savings account you're gonna have to guarantees in the liquidity but you're not going to get all the other stuff you know if whole life is the only that's why I kind of tell people whole life insurance is the only financial product in the world that will make sure what you want to happen will happen when you want it to happen whether you're here to see it or not period period period yes indeed and that's guaranteed and by the way no

Other Financial product in the world can say that none none no stop no no bond No mutual fund no real estate no nothing it's interesting um we were watching somebody today I don't know if you're in the room I think you probably were because you probably watched all the talks today I can't remember exactly how she said it but it was basically like the profile of money oh man I wanna I wanna like go look at

My notes it's crazy but it was um she was talking about how oh how did she put it how she phrased it it just made me realize that that whole life insurance does all these things with money in a way because she was talking about how wealthy people think about money that's really what it was yes and the way she put it I was like oh my gosh like that's whole life insurance you know what I mean and man I

Want to get my hold on a second okay I gotta do this that's all right this is what I do it's random it's random we're getting that's what makes it cool we're getting the notes this is how it's going not rehearsing no this isn't but I got you oh yeah so here we go this oh man this I'm telling you this is solid gold people poor people are poor because they asked the wrong questions yes they ask how much it costs and rich people when They should be asking how much is it worth how much is it worth right and so like that alone guys like think about it I can't tell you how many and you're probably in the same boat how many people tell me whole life insurance is too expensive insurance is this whole life the cost of insurance is this especially a good iul people whole life it's so much more expensive first of all July secondly like I was about to tell you about how big of a lie it is it's a

Huge lie but here's the deal like if it's funny wealthy people like it it's it wealthy people come through and they're like they get it and it's amazing it seems to be the lower the economic scale for somebody and I'm and I'm not saying this with judgment right on on those people it's just a lack of Education a lack of understanding it's the people they're surrounded with it why do you why do you

Think they call why do you think they call whole life insurance the rich person's Haven totally and so because they understand the value but it's it's amazing I mean it's like I I was brought up with the minds not brought up with the mindset but I I by the grace of God had a great mentor in my early 20s that said Chris if you want to be successful go find people that have the life that you want and emulate what they do until you get there and I was lucky to meet a

Guy who was a Serial entrepreneur and real estate investor who leveraged infinite banking oh really leveraged borrowing against policies to buy a bowling alley borrowing against to buy condos during their recession and all that stuff you know and so that was my intro it's funny that Jesus you said that I had the exact opposite real effect yes okay my mentor told me uh if you want to be like if you want to be rich yeah go look at what poor people

Are doing everything opposite that's what you would you that's hilarious so that was so how did you get into the business oh I actually got into business by mistake mistake I actually got in business mom said so I had my whole life planned out okay so in school I was a chess player so I traveled oh no you don't want you don't want the smoke cause that's gonna be sounds like a challenge no you don't want to smoke but

I've traveled all around the world okay maybe I don't want that yeah I'm playing chess and I was uh I was one of the best chess players in the United States I mean we had a back at this time we had a United States our star I don't want to try to get my butt so um to make a long story short I was um I went to Penn State and I had my whole you know I was going to go and I was going to teach chess okay and I was going to travel the world in the summer

Times and go hit every chess tournament all across the world I had all these things planned out so when I graduated from Fisher and the whole life insurance over here yes indeed it's all it's all about the strategy that's what makes me so valuable I love it because I strategize on these things but one of the things that happened when I was going to teach in Philadelphia the the fixed salary was 29 900. and that was and that was what a master's degree plus

30 credits you're not getting rich doing that no so and I had student loans and I Was preparing a life to be poor nobody wants that nobody wants that so it was funny I took a job um working as a mortgage originator and my whole thing was like I'm gonna make as much money it was a commission paying job I'm gonna make as much money in this four months before I'm planning to become four because I didn't want to start to teach in the middle of the School sure so you're just trying I was trying to stack somebody's Storehouse and then go teach make this little bit of money but have a pool of money to offset what I was doing that was the whole plan but a buddy came over that I went to Penn State with and he came over to the house and you know we was talking I was like what you do for a living and he showed me this four column presentation on how to build wealth I was like

This is what you do for a living yeah yeah so in the back of my mind I was already looking for other opportunities because I really didn't want to teach and become poor I really I did not wanted to do you just teaching it's funny how the Lord works right amen it's funny how the world work so now I get the opportunity to be in control of my destiny to be able to help the people who who want to be helped and be able to give them a vehicle that can you know

That they can have money and that's one of the things I love about whole life insurance because it provides you with an opportunity to have money throughout all phases of your life yeah and that's one of the things that I um from a strategic standpoint I teach my clients how to maximize that money that they have throughout the course of their lifetime and more importantly to replace income at death because a lot of things that happens in in black and brown

Families is that we that we have a double death yeah so the first step we have to deal with the emotional um you know ramifications and of losing a loved one and then the second death is that there is no money to replace the income of the loved one that we just lost yeah so um that's why I love what I do because we can we have the ability to help influence and and change generations and and be able to provide economic relief

To families going forward and that's one of the greatest benefits that I have with working so you know that's the thing that gets me charged up that's the thing that that keeps my passion high that things keep me coming to conferences like this to get better so I can learn to become a better resource that I can be able to serve the communities that I'm in that's the biggest thing so so I'm going to do a video tomorrow right I'm gonna go

Around here because I've been talking about you got to invest in yourself right like we talked about at the beginning so I'm literally going to go through this because I feel like a lot of people that watch this stuff and w talk about it all the time I'm sure you talk about it with your clients like we got to invest in ourselves and it's one of the great

Indexed Universal Life vs Whole Life Insurance, Agent Interview

Parts of our whole life like you're using it to come here and do this and like whatever I'm gonna go around here I'm gonna do a video asking everybody like how are you investing like what are you getting out of this and like I want to interview a bunch of entrepreneurs and get a bunch of random stuff because people I feel like just if you understood what we understood

You would flip your perspective on a dime right yep and so I want to wrap my head around like get it or not wrap my head around but I want to get all these perspectives out there because I think a lot of times people are you know these entrepreneurs there's a lot of amazing people in here doing a lot of amazing things making millions of dollars having a ton of success online if you've ever bought anything online anywhere Facebook

Ad Instagram ad YouTube ad you've purchased it from somebody in this room like pretty much guaranteed right pretty much and so like there are amazing things happening here and I think like just understanding that your best investment is not a stock or a mutual fund or anything else it's going to be your ability to contribute and become who you need to be to achieve the life that you want to live yes because one of the things that I learned early is that

God is so so magnificent yeah because he gave us all different sets of skills and different sets of talents to make the world a better place and like I tap into that because I really believe that I have the world's greatest financial product and when if you own other assets oh my gosh so you can really make this thing um you really could make this the power that we have with life insurance do things that no other product can do you

Can leverage this like it's like no other and be able to replace income to yourself at your tax advantage it is like the most beautiful invention that we have the power to help serve people with and I believe Spider-Man, when he said with great gifts, come great responsibility that's why you can't sell index University get responsible I know it's crazy so so guys here's the deal hopefully you've enjoyed this this

Is just a little impromptu interview that we did because I thought hey it'd be good to introduce somebody else and get another perspective and hear another voice another tone another perspective yeah um to get some perspective from a brother, yeah you know here in these streets totally trying to educate the folks about remember the most powerful thing that everybody tells them that is the worst thing to put your money into

Exactly so you know what the word says that whenever they tell you to do something you do the opposite because that's where all the glory is in so everybody's telling you to run towards something you run the option I heard Warren Buffett say that and and and you're going to see like one of the principles that he says that is one of the things he always says that you know you're going to really see when the tide rise who was swimming

Naked there are a lot of people out here swimming naked oh yeah and they're gonna get exposed totally so so yeah yeah so um you know cash value is King you know life insurance is the great financial equalizer you know it is the safest place to put your money is a moat around your Castle it is one of the best financial products ever made amen and I'm with you I just like to say these last words is to get some and if you got

Some get some more because you can't lose which is good get it by the government before the government decides that they're going to change the rules to get more money I'm with you bro well dude man appreciate you so guys any questions comment in the comment section thank you.