NLG FlexLife IUL

Join us to learn how to simply run NLG's FlexLife IUL. Breakdown how to solve for premium/death benefit depending on the client’s needs, and how the IUL can fit any client situation. This session provides actionable tips for you to start writing and earning with NLG FlexLife IUL.

Timestamps

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Good morning, everyone. I am Crystal Bustillos, live marketing

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support here at the brokerage. Um, and welcome to today's

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webinar. It's, uh, in regards to National Life Group's

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FlexLife IUL. And with me today I have my

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colleague Colby Cox, who knows everything about National

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Life Group. So I'm so happy he's here and joined us today.

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So, um, before we get started, I do want to mention

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that this webinar is being recorded.

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You will receive the link, uh, when I have that ready to go, along with pieces of

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information that you're gonna see throughout today's webinar.

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If you have any questions, feel free to type them in the Q&A and

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chat feature. Colby will be able to answer them probably on the spot,

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um, and I'll help him out if he misses one. So no worries there.

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But thank you, Colby, for doing this webinar today and

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talking a little bit about National Life Group.

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Yeah, appreciate that. Um, please

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from the get-go, you have a question, ask away.

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I know National Life is a relatively

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new carrier for us here at the brokerage.

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It is not new to me. Just a little background, 'cause you probably

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have not seen my face much, um, out there

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and publicly put, put out there yet.

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But, um, before I joined the brokerage, I was an agent and I ran an

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agency for ten and a half years. Um, National Life Group was a

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flagship carrier of, uh, ours at that

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agency I was at. Um, we were one of their top

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agencies

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throughout pretty-- almost every, every year, but, um, specifically in the

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state of Texas. Um, lot of pressure, Crystal, you put on me

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to say I know everything about NLG.

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I certainly don't, um, but I know where to find the, the right

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answer. Um, so today we're specifically talking

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FlexLife IUL. That is National Life Group's flagship

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product across the board. Okay? Um, if you're familiar with

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IUL, if you pay attention to the industry, National Life, I

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think for the last four years, has had the number one selling IUL

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based on number of applications signed and sold, and

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that is their FlexLife product. Um, they're continuing to make

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enhancements to it. Um, you, you...

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I won't-- I'm not gonna sit out here, 'cause I'm not objective with it as far as

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saying, "Hey, it's the best," but you certainly

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cannot go wrong, um, with National Life Group.

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Uh, what I'm gonna do is I'm gonna start with i-if you forget everything I've

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said today, I want you to remember the one thing I'm about to show you, because

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this is really where National Life Group

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shines. This is where they make their hay.

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And if you give me one second, I'll just share my screen.

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Choo, choo, choo, choo. Okay, right

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there. If anybody can't

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see my screen, let me know, but I-- we should be able to see it.

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Um, National Life Group makes their hay with living benefits.

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They are the originator of living benefits.

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They've had living benefits for over a hundred years on their products.

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They even have a marketing piece on their website, and, um,

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that talks about the first ever living benefit they put on a

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policy. Um, and so this living benefit lineup kinda

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compares them and a lot of our top carriers

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that we work with and that you work with. Um, but I just...

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I wanna make note, these, the order is not anything but

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alphabetical, okay? So it's not from best to worst.

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But I just want you to look at National Life, and when you compare them,

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and that is some terrible drawing on that, but if you compare them

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to everybody else, um,

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on this

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lineup, they have everything. They've got terminal

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illness, and it goes twenty-four months, where a lot of carriers only go

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twelve. They have, uh, both a chronic illness that's

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discounted. They added last year a, um,

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premium chronic care rider that works very similarly

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to long, like traditional long-term care.

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Um, their critical illness, critical injury, they've got more

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triggers than anybody. They're the only ones with Alzheimer's.

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They're the only ones-- I'm sorry, not the only ones, but they're one of two

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that have a lifetime income benefit rider.

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Um, and they're one of two that have a value-added benefit with their Home

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Thrive that again, they just added, uh, either last

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year, I wanna say last year, but maybe the year before.

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Um, so if you forget everything from this point forward,

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just remember that living benefits are, is where it's at for

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them. All right? You, you would be hard-pressed to find a

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carrier that has a more robust lineup

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than National Life. Okay? So let's kinda get

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into it. Um,

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National Life has three

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IULs primarily that they, um, that they sell.

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They actually have a fourth one that's a, a second to die, but I'm not gonna talk

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about that today. Um, they've got the Rapid Protect, the

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FlexLife, and the Summit. Real quickly, Rapid Protect is a rapid

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issue IUL designed to be issued in five to ten

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minutes, okay? Uh, it is really only for

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protection, okay? It does have cash value, but it's not

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designed for cash accumulation. It's for somebody that really wants their

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coverage and they want it now, along with the living benefits.

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That's the Rapid Protect. And if you jump over to the far right, you've got the

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Summit Life. And the Summit Life is designed for your high

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net worth people, okay? I call them my HENRY people.

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High earner, not rich yet. Um, people that make a hundred and fifty

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thousand, maybe even a hundred and eighty thousand or more a

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year. Uh, the Summit Life starts at a million dollars of death benefit.

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Okay? So it has a few additional bells and whistles, um, that

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the Rapid Protect or the FlexLife don't have.

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Um, but again, it's designed for the high net worth

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individual.The FlexLife, that is, like I said, the bread and

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butter. That's the flagship product.

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Anybody from any- anybody can have it.

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Um, I, I've sold it for kids looking for cash value

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for education expenses. I've sold it to,

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um, older generation that wants the protection with the

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living benefits. Okay? It really can be designed in a multitude of ways, and that's

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the product that we're gonna talk about today. All right.

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So

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here we are. This is the website, um, you get access to

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their website once you get appointed.

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So if you haven't got appointed, go to the, the broker link,

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uh, National Life user AssuranceBase.

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So link up to our AssuranceBase account and you can request that contract.

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But this is what the portal will look like.

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Uh, I won't spend today focusing...

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We have a very limited time. Um, we can do another webinar another

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day on how to navigate the back office website.

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Um, but I want you to focus right over here to this little puzzle piece that says

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Illustrations. This is where you do all their illustrations.

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Now, National Life has a life illustration portal and an annuity

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illustration portal. Um, so make sure you choose the life one, 'cause if you choose

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annuity,

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well, not-- you won't get to the FlexLife. All right?

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And we do sell their annuities as well.

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Um, and so this is what it's gonna look like.

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On the far right, you're gonna have an in spotlight that just talks about if

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they're making any changes, many- any enhancements. Maybe the rates are changing.

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That's kinda where they'll put that there.

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They do give you a line to their help

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desk. All right. So if you do need

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help running an illustration, your first step would be to reach out to

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us. Okay? I've done quite a bit of illustrations over the last month that

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I've been here with National Life, but if it's after...

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Well, don't call them if it's after hours.

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But if it's, uh, if you-- if we are not answering for whatever reason, or we just

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can't get back to you in a timely manner, call that number.

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They can help you design it. I would caution you that

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if you reach out to them, you need to be very detailed, okay?

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Because if you give them very little information of how you want it designed,

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they will design it how they think it should be designed.

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You need to be very detailed with what you are trying to

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accomplish with your IUL design. Okay?

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All right. Let's get into it. So you're gonna click New

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Illustration. Now, I want you to notice how

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every product pretty much has a regular

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pro- a, a regular name, and then it'll have the name

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with NL. Okay? Does everybody see

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that? Let's use Rapid Protect as my example.

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You see how they have Rapid Protect and they have Rapid Protect

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NL. I want to make note of the difference, 'cause this is very

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important and it will affect you if you sell the wrong one.

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The NL

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one is for captive agents, which you are

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not, or

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if you live in New York. Obviously, New York has its own set of rules,

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um, and so the NL product is designed for the state of New York

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or if you're a captive agent. All right? The benefits are a little different.

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The compensation structure is a little different.

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So if you don't live in New York, please, please, please,

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please do not sell an NL product,

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okay? The NL product is not for

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you. I want you to think of the NL product as it, it...

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Let's just assume the NL stands for no loser,

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okay? I don't want you to select it, and the only reason I say that is because

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if you sell that product, the client's not gonna know the difference, 'cause it

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looks the exact same, but you will definitely know the diff- difference in

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commission, okay? Um, and I don't want you calling me or

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Crystal or anybody at the life team here that we ch- we

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cheated you. You... We told you it was this comp, but no, it was this.

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It-- we got paid this. Don't sell it unless you're in New

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York. Unless you're selling in New York, you sell the regular product,

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okay? Don't be a loser. I, I say that very

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tongue in cheek, okay? It's just, it's a very easy acronym to remember if you're

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not in New York. So I'm gonna go right here, FlexLife.

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No matter what product you do, the software looks very similar.

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They use iPipeline. I will tell you, National Life is on

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WinFlex as well, so you can run the FlexLife

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there. I like the website just because I'm so used to it, but I've also done the

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WinFlex web- uh, illustration software as well.

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Now, National Life goes by closest birthday,

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so make sure you get actual date of birth.

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Don't just get age, because if their birthday is next month,

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National Life will already quote them at that age, okay?

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So let's just in- for this time, I'm just gonna do

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a thirty-five-year-old, and what we're gonna spend over the next twenty, thirty

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minutes is talking about different ways to illustrate this,

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okay? Um,

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I will preface with this. I don't expect y'all to remember all this, which

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is why

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if you go to the broker link and you go

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to Product Information, you go to the Life

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Hub

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maybe, and you go to the Learning Aids right next,

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right over my left shoulder,

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you'll see National Life Group Trainings, and I've recorded a bunch

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of these already. Okay? You can see we've done accumulation

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focus, college funding, income focus, protection focus.

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We've already got them up there on the back office site under the Learning Aids

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tab. Please don't leave this webinar right now just 'cause they're there, okay?

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They're very-- those are very simplified, and I wanna answer whatever questions you

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might have. Um, but the great, the beauty of

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this product is, is its customization, okay?

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Is the ability that no matter what the client's looking for, whether it's the

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protection, whether it's the accumulation, whether it's the college

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education, whether it's income, you can illustrate it

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with this product. All right, so I'm gonna go

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thirty-fiveUm, rate class, you can change it if

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you know your client well. You know your client better than I do.

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National Life does offer them what they qualify for, though.

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So if you submit it standard and they qualify for preferred, National

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Life will give them preferred, okay?

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You don't have to apply for preferred to try to get preferred.

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You can get it even if you qualify... go for standard.

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I'm gonna keep it standard, um, just for this

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purpose. Uh, table rating if you needed to change it, and then there's

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a flat extra if National Life came back and said, "Hey, we need to add a little bit

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of, um, we... add a little, add a little premium to the price." That

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wouldn't make sense, but hey, you know what? It doesn't matter. All right.

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We're gonna go to death benefit and funding, okay?

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And this is where we're going to start illustrating or we're gonna put in the

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definitions, and we're gonna define what we want in this illustration.

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What I'm gonna do is I'm gonna illustrate it a multitude of ways.

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We're gonna solve for accumulation. We'll solve for protection.

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We will solve for income. If we have time, I'll show you

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how to do college funding, okay? That, that one's... That's a fun one.

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Um, so let's start with the most common

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00:13:16.508 --> 00:13:20.128
illustration, um, default, which is

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income, okay? So you see where it says up here, illustration solve.

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National Life has tried to make it very simple, and they

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give you some of these different options.

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So I'm gonna do solve for income, and I'm gonna let it default

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everything for me, and then I'm gonna explain those defaults, okay?

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So first of all, notice when you solve for income,

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when we come here to the death benefits

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section, it automatically puts minimum death,

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00:13:47.688 --> 00:13:51.608
max cash, okay? So if you want to solve for income, you want as much

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income as possible, minimum death, max cash every

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00:13:55.588 --> 00:13:57.308
single time, okay?

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Now, you'll notice that they

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then

244
00:14:03.508 --> 00:14:06.628
moved it to an increasing death benefit. I'm gonna be honest.

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I'm not a fan of increasing death benefit.

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Most people don't realize that with an increasing death benefit, if you never

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level it off, the cost of insurance over time continues to rise,

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um, and the IUL is designed, and hopefully, uh, you can design

249
00:14:20.708 --> 00:14:22.768
it to where the client doesn't have to pay.

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00:14:22.788 --> 00:14:26.408
That flexibility is what really appeals to people with the

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00:14:26.528 --> 00:14:30.478
IUL. Um, but if my cost of insurance continues to rise, it

252
00:14:30.568 --> 00:14:34.468
may start eating itself out, and I don't want this policy

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to have a chance of lap-lapsing. So what I would recommend is I would

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go level. That is a philosophy that

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I've done my pretty much entire, uh,

256
00:14:45.868 --> 00:14:49.248
career doing this. The only time I've really ever done

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00:14:49.328 --> 00:14:53.228
increasing is if it's a child where maybe that cost

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of insurance is so nominal you never really run into it.

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00:14:56.648 --> 00:14:58.168
I've done it a few times

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00:14:59.048 --> 00:15:02.008
for someone who's a little bit later, uh, to the

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00:15:02.808 --> 00:15:06.348
savings game, and they're trying to accumulate cash as quick as

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possible. So m-I might increase it a little bit for the first

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00:15:10.308 --> 00:15:13.958
few years, um, but I try to go level as much as

264
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possible. I know there's people out there that say, "No, increasing is better.

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You're only increasing your commission." I'm not doing this for commission.

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00:15:21.128 --> 00:15:24.208
I'm doing it to make sure that this policy

267
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stays in force for the long haul. Because if it doesn't and it

268
00:15:28.508 --> 00:15:32.148
surrenders, you're going to have a very, very unhappy client. All right.

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So that is just my philosophy. If you have a different

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philosophy, I'm not gonna tell you how to illustrate, but that's how I would do

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it. Okay? So I'm gonna go level. We then come to

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premium. All right. Now, with National Life, you can't solve for

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00:15:46.628 --> 00:15:50.568
death benefit and for premium. You have to put in one or the

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other. So in this scenario where they're saying, "Hey,

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I just want as much income as possible," usually they're gonna

276
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give you a budget and say, "I can put away two hundred dollars a month, four

277
00:16:02.748 --> 00:16:05.948
hundred dollars a month." So what I'm gonna do is I'm just gonna do two fifty.

278
00:16:05.988 --> 00:16:08.888
Oops. You wanna make

279
00:16:08.948 --> 00:16:12.838
sure that the premium mode is monthly, and they default to monthly,

280
00:16:12.948 --> 00:16:15.998
so you usually won't have an issue, but just make sure it says monthly.

281
00:16:16.088 --> 00:16:19.278
Otherwise, it's two fifty a year, and I can just tell you right now, that won't

282
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work. Um, and then you'll notice again it

283
00:16:22.297 --> 00:16:26.248
defaults to one dash A sixty-four in

284
00:16:26.288 --> 00:16:30.277
the from dash through section. The from dash through section

285
00:16:30.368 --> 00:16:32.828
is how long are we paying this two fifty?

286
00:16:33.888 --> 00:16:37.808
Okay? So if you see a number, like the number one that

287
00:16:37.848 --> 00:16:41.368
you see right here, if you see a number, number means

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00:16:41.448 --> 00:16:45.428
policy year, so policy year one. If

289
00:16:45.528 --> 00:16:49.368
you see a number with the A in front of it, that means

290
00:16:49.488 --> 00:16:53.368
age, age sixty-four. So I'm gonna pay

291
00:16:53.508 --> 00:16:56.028
two hundred and fifty dollars every month

292
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from policy year one till age sixty-four.

293
00:17:00.828 --> 00:17:03.128
I don't have to sit here and figure out what that math is.

294
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I can just put A sixty-four, okay? And then

295
00:17:07.229 --> 00:17:09.638
we can scroll down to the distribution

296
00:17:10.888 --> 00:17:14.408
information, okay? Distribution is where we're gonna put solve for

297
00:17:14.469 --> 00:17:18.449
income. Again, because I've already done the default, it already did my

298
00:17:18.508 --> 00:17:21.488
solve for income, and it defaults from A

299
00:17:21.588 --> 00:17:24.949
sixty-five to ninety. You

300
00:17:25.068 --> 00:17:28.628
can go to maturity, okay? National Life will

301
00:17:28.688 --> 00:17:32.248
illustrate all the way to age one twenty-one, and I'll show you

302
00:17:32.308 --> 00:17:36.228
that right here, okay? Or you can stay at the default age, ninety.

303
00:17:36.248 --> 00:17:39.928
The likelihood of your... The likelihood of most of your clients

304
00:17:40.028 --> 00:17:41.888
living past age ninety is not high.

305
00:17:41.968 --> 00:17:45.568
Average life expectancy right now is seventy-three for men,

306
00:17:45.628 --> 00:17:47.428
seventy-eight for women, okay?

307
00:17:49.208 --> 00:17:50.848
Um, and so that is it.

308
00:17:52.288 --> 00:17:55.898
That is all I have to do to show an income, okay? Some of...

309
00:17:55.908 --> 00:17:59.608
People call this an SRA, a supplemental retirement account.

310
00:17:59.668 --> 00:18:03.368
At the end of the day, it's still life insurance, but National Life is

311
00:18:03.588 --> 00:18:07.448
one of the originators of life in-lifetime income

312
00:18:07.508 --> 00:18:11.228
benefit rider. The LIBOR is a way to enact an

313
00:18:11.328 --> 00:18:15.308
income from the policy, um-Until that, that

314
00:18:15.388 --> 00:18:18.288
client passes. I won't get into that rider

315
00:18:18.448 --> 00:18:22.048
specifically, um, but National Life is designed for

316
00:18:22.148 --> 00:18:25.828
income in mind. Now, the only thing you have to do is-- 'cause if you

317
00:18:25.848 --> 00:18:29.268
notice, it still says over here on the left-hand side,

318
00:18:29.278 --> 00:18:33.228
"Calculations unavailable." Uh, that is because I need to put in

319
00:18:33.268 --> 00:18:36.978
my interest rates. So I'm gonna go over here on the left-hand side to Interest

320
00:18:37.088 --> 00:18:38.748
Rates,

321
00:18:39.628 --> 00:18:41.368
and here are the different strategies.

322
00:18:41.428 --> 00:18:43.358
National Life is notorious for having

323
00:18:44.908 --> 00:18:48.568
S&P five hundred strategies, but a few years back, they did

324
00:18:48.648 --> 00:18:51.848
add some volatility controlled indexes.

325
00:18:51.948 --> 00:18:55.528
Um, we could spend a whole hour talking about index

326
00:18:55.548 --> 00:18:59.378
strategies and, um, and the way they're designed.

327
00:18:59.408 --> 00:19:03.368
We're not gonna do that today. What I want you to pay attention to is these custom

328
00:19:03.508 --> 00:19:06.118
set preferences, okay? 'Cause what I...

329
00:19:06.148 --> 00:19:09.668
questions I always get when I was an agent and I was helping our ag- our

330
00:19:09.768 --> 00:19:13.648
agents, um, is, "What strategies?

331
00:19:13.688 --> 00:19:17.588
What-- How do I divvy up the money?" Um, it's really up to you.

332
00:19:17.608 --> 00:19:19.608
There's no right, there's no wrong.

333
00:19:19.628 --> 00:19:21.468
What National Life does is say, "Hey, you know what?

334
00:19:21.548 --> 00:19:25.248
Let's just give you, um, default ones, and you can use

335
00:19:25.268 --> 00:19:29.198
those or you can customize it yourself." Okay, so they give a low

336
00:19:29.288 --> 00:19:33.028
volatility and S&P cap focus diversified,

337
00:19:33.128 --> 00:19:36.968
S&P and Pacesetter. So if you go low volatility, you'll notice

338
00:19:37.028 --> 00:19:40.968
that they will put all of the money, fifty percent in balance trend,

339
00:19:41.008 --> 00:19:42.578
fifty percent in US Pacesetter.

340
00:19:45.188 --> 00:19:49.028
That's fine if you want. S&P cap focus, a hundred percent

341
00:19:49.688 --> 00:19:53.238
of the money in the S&P five hundred point cap focus.

342
00:19:54.628 --> 00:19:57.588
If you go diversified, it's gonna put twenty percent in all five of

343
00:19:57.628 --> 00:20:01.408
them. And the last one, it's gonna do fifty-fifty

344
00:20:01.568 --> 00:20:03.068
S&P point to point,

345
00:20:04.088 --> 00:20:06.208
um, fifty percent US

346
00:20:06.268 --> 00:20:10.188
Pacesetter. What I would recommend is if you wanna

347
00:20:10.248 --> 00:20:13.948
keep it simple, you wanna keep it as simple as possible for the

348
00:20:13.988 --> 00:20:17.708
client to understand, do the S&P cap

349
00:20:17.788 --> 00:20:19.788
focus, a hundred percent in the S&P,

350
00:20:22.008 --> 00:20:25.488
um, because that one's going to be the most straightforward and easiest to explain

351
00:20:25.548 --> 00:20:28.558
to the client. The, uh, the Pacesetter and the balance trend, because they're

352
00:20:28.608 --> 00:20:31.848
volatility controlled indexes and they don't mirror just one index

353
00:20:31.968 --> 00:20:35.588
market, um, it's a little bit more cumbersome to

354
00:20:35.628 --> 00:20:39.568
explain. Uh, and so I'd do that. And

355
00:20:39.628 --> 00:20:42.428
what you'll notice is it's not gonna illustrate any different.

356
00:20:42.448 --> 00:20:45.388
The illustrated rate at S&P is six point eight one.

357
00:20:45.408 --> 00:20:48.328
The illustrated rate on the Pacesetter is six point eight one.

358
00:20:48.348 --> 00:20:51.308
So no matter if you put a hundred percent here or a hundred percent

359
00:20:51.368 --> 00:20:55.228
here, it's going to look the exact same.

360
00:20:55.328 --> 00:20:56.348
Okay?

361
00:20:57.408 --> 00:20:59.508
You have to remember, an illustration is just that.

362
00:20:59.528 --> 00:21:02.408
It's just designed to illustrate what could be.

363
00:21:02.468 --> 00:21:06.098
It's not going to predict what's going to happen. All right?

364
00:21:06.148 --> 00:21:09.938
So I'm gonna keep it a hundred percent S&P, and

365
00:21:09.968 --> 00:21:13.388
now we can go over to the quick view to kinda see what this illustration looks

366
00:21:13.448 --> 00:21:15.248
like.

367
00:21:16.888 --> 00:21:20.788
Okay, so we've got a couple of different data points up

368
00:21:20.828 --> 00:21:23.568
top. Here's our death benefit, a hundred and seventy-nine thousand.

369
00:21:23.628 --> 00:21:25.708
That may or may not be enough for the client.

370
00:21:25.748 --> 00:21:29.028
If it's not enough, we can always raise it. We can make, we can make changes.

371
00:21:29.068 --> 00:21:31.968
Again, Flex Life, it's very flexible.

372
00:21:32.008 --> 00:21:35.608
We can go to the modal premium of two fifty every single month.

373
00:21:35.628 --> 00:21:39.108
That's perfect. Um, now National Life has two

374
00:21:39.388 --> 00:21:43.008
minimums. So again, if you, if you know anything about IUL, the

375
00:21:43.148 --> 00:21:46.388
IUL is designed for flexibility, okay?

376
00:21:46.408 --> 00:21:48.828
It's designed for that customization.

377
00:21:48.848 --> 00:21:51.268
They've got this minimum premium,

378
00:21:52.148 --> 00:21:55.288
and then they have the death benefit protection minimum premium.

379
00:21:55.348 --> 00:21:59.048
It's really only separated by about twenty bucks a year,

380
00:21:59.148 --> 00:22:02.888
um, but the death benefit protection premium is to

381
00:22:02.968 --> 00:22:06.808
keep... i-is the minimum premium per the, for the year that you

382
00:22:06.868 --> 00:22:10.588
need, that the client needs to pay to make the death benefit

383
00:22:10.668 --> 00:22:14.448
guaranteed for, I believe, at least twenty years. It might be twenty-five.

384
00:22:14.508 --> 00:22:18.408
Don't quote me. Um, so you're not building up cash

385
00:22:18.508 --> 00:22:22.228
value at that point, um, but you're at least keeping the

386
00:22:22.268 --> 00:22:26.028
living benefits. You're keeping the death benefit. You're keeping that in place.

387
00:22:26.148 --> 00:22:29.958
If you go below that, and you go down to this minimum, you lose that

388
00:22:29.988 --> 00:22:32.987
guarantee. You lose that rider, okay?

389
00:22:33.028 --> 00:22:36.608
So that means that your n-nine hundred and thirty bucks may not be

390
00:22:36.628 --> 00:22:40.408
enough because I'm losing that rider because I went below that death benefit

391
00:22:40.468 --> 00:22:44.428
protection. So anytime your client goes through issues, and they can't do this

392
00:22:44.508 --> 00:22:48.108
three thousand, make sure they stay above that death benefit

393
00:22:48.168 --> 00:22:51.308
protection premium at least, okay?

394
00:22:52.248 --> 00:22:55.968
And so now we have our illustration. We're paying our two fifty every month.

395
00:22:55.988 --> 00:22:58.968
We've got our death benefit. I want you to notice the two

396
00:22:59.088 --> 00:23:01.768
columns. Here's the accumulated value column.

397
00:23:01.788 --> 00:23:04.008
Here's the cash surrender value column.

398
00:23:04.028 --> 00:23:07.068
National Life has a ten-year surrender on their Flex Life

399
00:23:07.228 --> 00:23:09.588
IUL. So in year eleven

400
00:23:11.668 --> 00:23:15.528
is when the cash accumulated value and the cash surrender

401
00:23:15.608 --> 00:23:17.148
value are going to be the same

402
00:23:18.108 --> 00:23:22.088
because that's when our surrender period has gone away

403
00:23:22.208 --> 00:23:25.948
after those ten years. Um, a-again,

404
00:23:26.028 --> 00:23:29.448
IUL, no matter if you go National Life or any of our, uh, carrier

405
00:23:29.488 --> 00:23:32.568
partners, it's not designed for quick

406
00:23:33.248 --> 00:23:37.218
money. It's designed for a long-term. This is a steady...

407
00:23:37.248 --> 00:23:39.568
We're running a marathon. We're not running a sprint.

408
00:23:39.628 --> 00:23:42.168
Okay, now can you design it to

409
00:23:43.028 --> 00:23:46.468
be a sprint? You probably could. Um, I think the shortest

410
00:23:46.528 --> 00:23:50.418
pay IUL I ever did was seven years, uh, but that

411
00:23:50.448 --> 00:23:54.278
client was paying... It was a premium finance case, and

412
00:23:54.288 --> 00:23:57.008
that client was paying a hundred and seventy grand a year into his

413
00:23:57.048 --> 00:23:59.858
policy. All right? Very high net worth.

414
00:24:00.568 --> 00:24:03.428
He, he definitely was not doing Flex Life. We were definitely doing the Summit.

415
00:24:03.848 --> 00:24:04.168
Um,

416
00:24:05.088 --> 00:24:08.508
but you can design it that way. It doesn't just have to be smaller premiums.

417
00:24:08.548 --> 00:24:11.748
It can be large premiums. Um, and anytime you get into

418
00:24:11.828 --> 00:24:15.588
that, uh, advanced case design arena,

419
00:24:15.728 --> 00:24:17.828
let us know. We'll help you design it.

420
00:24:17.868 --> 00:24:21.388
National Life will help us design it, um, to make sure that we're

421
00:24:21.408 --> 00:24:25.098
designing it properly. Um,Now, when you

422
00:24:25.138 --> 00:24:29.038
scroll down, because we designed this for income, notice at age

423
00:24:29.078 --> 00:24:32.898
sixty-five we're gonna stop paying it and we're gonna start

424
00:24:32.938 --> 00:24:36.758
collecting our income, and it's projected to be just under twenty grand a

425
00:24:36.818 --> 00:24:40.518
year. That is a year, not a month, and that income

426
00:24:40.658 --> 00:24:44.348
can be tax-free if you take it out via a loan.

427
00:24:45.018 --> 00:24:47.338
Okay? You can withdraw it or take it out as a loan.

428
00:24:47.398 --> 00:24:50.738
If you withdraw it, you'll pay taxes on the growth.

429
00:24:50.818 --> 00:24:54.478
If you take it out as a loan, it is a loan against the cash value

430
00:24:54.618 --> 00:24:58.318
of your policy. Um, and what happens is if

431
00:24:59.078 --> 00:25:02.918
your, your client passes away before they pay

432
00:25:02.978 --> 00:25:06.778
that loan back, it's gonna be discounted from the death benefit upon

433
00:25:06.838 --> 00:25:10.638
death. Okay? So that is kinda how the carrier pays

434
00:25:10.698 --> 00:25:14.138
themselves back. They won't pay out the full death benefit. Okay?

435
00:25:14.198 --> 00:25:17.378
That's, again, that's not a national life thing. That's an IUL thing.

436
00:25:17.418 --> 00:25:18.478
Okay?

437
00:25:19.638 --> 00:25:22.658
So I'm gonna pause. Any questions on the income?

438
00:25:22.718 --> 00:25:26.338
Very simple how to design it. Uh, can you do an income for

439
00:25:26.378 --> 00:25:30.228
someone later? Yes, but the older the client is, it's...

440
00:25:30.278 --> 00:25:33.228
it really comes down to premium. Okay?

441
00:25:33.228 --> 00:25:36.868
'Cause let me do this. If someone has a question, please start...

442
00:25:36.978 --> 00:25:38.918
you can type it away. I'm gonna show you something.

443
00:25:38.958 --> 00:25:42.798
Let's just change our client from, instead of a thirty-five-year-old, let's make

444
00:25:42.818 --> 00:25:45.738
him a three-year-old. Okay?

445
00:25:47.698 --> 00:25:49.998
Let's go to quick view. Let's change nothing.

446
00:25:50.058 --> 00:25:53.298
We're gonna keep it exactly how I had it, but I want you to notice what happens to

447
00:25:53.338 --> 00:25:56.878
the death benefit. Well, it jumps to four forty-one because the cost of insurance

448
00:25:56.898 --> 00:26:00.338
is so small and the kid is so young, they get more death benefit.

449
00:26:02.458 --> 00:26:05.298
Oh, that's not the eraser. There's my eraser.

450
00:26:05.318 --> 00:26:06.778
Now, let's scroll down though.

451
00:26:07.818 --> 00:26:11.238
So now we're paying this, into this policy for sixty-plus

452
00:26:11.398 --> 00:26:13.978
years. We stop paying at sixty-five.

453
00:26:14.018 --> 00:26:16.478
Notice what the projected cash, the income

454
00:26:16.558 --> 00:26:19.998
is. Uh, I don't think any of you would

455
00:26:20.058 --> 00:26:23.508
be, uh, upset if you were able to help one of your clients get two hundred and

456
00:26:23.518 --> 00:26:25.738
twenty thousand dollars a year tax-free.

457
00:26:25.748 --> 00:26:28.218
I don't think any of us would be upset about that.

458
00:26:28.318 --> 00:26:31.678
Um, but again, they g- they're younger.

459
00:26:31.718 --> 00:26:35.668
The dollar goes a lot further because they're younger, and they have

460
00:26:35.668 --> 00:26:38.168
sixty years to accumulate cash value.

461
00:26:38.178 --> 00:26:42.038
I mean, at this point they're projected to have two point three million of cash

462
00:26:42.098 --> 00:26:45.838
value because, again, they've been paying into this policy for over sixty

463
00:26:45.848 --> 00:26:48.818
years. Okay? Now, if we change our client

464
00:26:49.798 --> 00:26:51.058
from a three-year-old

465
00:26:53.778 --> 00:26:55.898
to a fifty-year-old,

466
00:26:56.858 --> 00:26:59.498
I'm gonna change nothing. Again, I'm gonna keep it the exact...

467
00:26:59.538 --> 00:27:03.338
everything the same. Death benefit is just under a hundred

468
00:27:03.438 --> 00:27:06.698
thousand. It's 'cause they're older. And now let me scroll down.

469
00:27:07.018 --> 00:27:08.778
Let me erase that.

470
00:27:10.538 --> 00:27:14.378
Let me try to erase that. Stop paying at sixty-five, but look at the

471
00:27:14.418 --> 00:27:18.358
income, thirty-eight hundred. So the older the client

472
00:27:18.458 --> 00:27:21.258
is, it really comes down to premium.

473
00:27:21.318 --> 00:27:25.198
How much premium can they put into their policy, uh, to be able to

474
00:27:25.238 --> 00:27:29.178
build up cash value? As they get older, there might be a time

475
00:27:29.198 --> 00:27:32.898
where you can't, you can't fund it only for fifteen

476
00:27:32.978 --> 00:27:36.518
years. Okay? I was helping someone who wanted to get an IU- the

477
00:27:36.578 --> 00:27:39.398
IUL. Um, they wanted some... at sixty-four.

478
00:27:39.418 --> 00:27:43.398
They wanted an IUL and they were sixty-four years old, and they said, "I only

479
00:27:43.418 --> 00:27:47.378
wanna pay it for eight years. I only wanna pay three hundred dollars a month."

480
00:27:47.388 --> 00:27:51.298
That's just not enough time to allow the money to

481
00:27:51.358 --> 00:27:55.188
work for you, so that way it doesn't lapse. At that point she had to...

482
00:27:55.238 --> 00:27:58.938
I ran it, I ran it at fifteen years, it still lapsed.

483
00:27:59.018 --> 00:28:00.718
Um, I think I had to run it for twenty years.

484
00:28:00.758 --> 00:28:03.658
So even at sixty-four, at three hundred dollars a month, you had to run it for

485
00:28:03.718 --> 00:28:04.598
twenty years

486
00:28:05.598 --> 00:28:09.288
just for that policy not to lapse. And at the end of the day, it's life

487
00:28:09.338 --> 00:28:12.578
insurance first, living benefits second, cash value

488
00:28:12.618 --> 00:28:16.598
third. I wanna make sure the policy's in force, God forbid they pass away

489
00:28:16.618 --> 00:28:20.228
or get sick. Okay? All right.

490
00:28:21.318 --> 00:28:23.768
No questions yet. Let's keep going. Let's...

491
00:28:23.778 --> 00:28:27.438
What I'm gonna do is I'm gonna close it out, I'm gonna restart just so that way my

492
00:28:27.458 --> 00:28:30.858
illustration... If you ever, uh, run an illustration and you've been working on the

493
00:28:30.898 --> 00:28:34.628
same client and you make change after change after change after change, I

494
00:28:34.638 --> 00:28:38.378
would either save it and close it out because the software can get a little

495
00:28:38.418 --> 00:28:42.048
funky via ipipeline, um, and

496
00:28:42.078 --> 00:28:45.058
sometimes even if you go back to how you originally illustrated, it doesn't

497
00:28:45.378 --> 00:28:47.468
populate the same an- or the same results.

498
00:28:47.938 --> 00:28:50.458
Um, so make sure you, you kinda close it out and restart.

499
00:28:50.498 --> 00:28:54.018
So I'm gonna go back. Let's go back to our thirty-five-year-old right

500
00:28:54.178 --> 00:28:57.278
now. Um, now let's say instead of

501
00:28:57.878 --> 00:28:59.778
income, they just wanted accumulation.

502
00:28:59.798 --> 00:29:01.998
They, they don't care about the income aspect of it.

503
00:29:02.018 --> 00:29:04.298
They just wanna accumulate as much as possible.

504
00:29:04.338 --> 00:29:07.938
Not really much changes, okay? So you can click solve for

505
00:29:08.018 --> 00:29:11.978
income. Okay? I'm gonna g-go... I'm gonna design it

506
00:29:12.018 --> 00:29:15.758
the exact same way. Minimum death, max cash.

507
00:29:16.458 --> 00:29:20.158
I'm gonna come down to the premium section, specify amount.

508
00:29:20.178 --> 00:29:24.038
I'm gonna do two fifty. But notice it's right now defaulting

509
00:29:24.158 --> 00:29:26.078
annual, so let's change that to monthly.

510
00:29:28.198 --> 00:29:30.858
And you can do one of two things. I'd probably illustrate it this

511
00:29:30.918 --> 00:29:34.058
way. One dash M. M

512
00:29:34.778 --> 00:29:38.478
stands for maturity. So basically, I'm gonna pay

513
00:29:38.518 --> 00:29:40.138
forever. Okay?

514
00:29:41.718 --> 00:29:45.538
So we've got our two fifty. I'm gonna change that to level.

515
00:29:45.578 --> 00:29:49.558
Why are you still... Oh, I, I... Okay, notice anytime you

516
00:29:49.598 --> 00:29:53.398
see a red X, that means something's off, and all you have to do is scroll

517
00:29:53.438 --> 00:29:57.298
over the X to see what's off. It just says MEC avoidance is not valid

518
00:29:57.358 --> 00:30:00.158
unless you specify amount. So I just need to change this to

519
00:30:00.298 --> 00:30:03.198
none. Okay? It does not mean I will MEC it.

520
00:30:03.258 --> 00:30:07.198
It still has safeguards, um, but I have to click none

521
00:30:07.258 --> 00:30:10.678
in order to do the solve for. Okay? We go back to interest

522
00:30:10.798 --> 00:30:13.978
rates. I gotta set my interest rates again, so I'm gonna put a hundred

523
00:30:14.078 --> 00:30:18.018
percent. And now we're gonna go to quick view.

524
00:30:18.598 --> 00:30:21.698
So notice death benefit, one seventy-nine, didn't

525
00:30:21.758 --> 00:30:25.198
change. All that changed was I'm not taking out an

526
00:30:25.258 --> 00:30:26.698
income.

527
00:30:26.778 --> 00:30:30.610
Okay?Well, Colby, can they

528
00:30:30.670 --> 00:30:34.190
do the same thing? Can they not take an income, but can they stop p-pay-premium

529
00:30:34.230 --> 00:30:38.190
payments? Absolutely. If they tell you, "I wanna stop at age sixty" one

530
00:30:38.210 --> 00:30:39.390
dash A sixty

531
00:30:40.630 --> 00:30:43.590
in the from dash through section of the premium

532
00:30:43.870 --> 00:30:45.890
tab,

533
00:30:46.930 --> 00:30:47.430
and now

534
00:30:48.530 --> 00:30:52.310
go back to quick view and we can scroll down and notice, okay,

535
00:30:52.370 --> 00:30:56.030
boom. No more premium paying into it, but I'm not taking in

536
00:30:56.090 --> 00:30:59.050
income 'cause it's not showing, so then we can just focus on the cash

537
00:30:59.110 --> 00:31:01.450
value.

538
00:31:03.950 --> 00:31:07.030
You don't have to illustrate it, and I'll, I'll make this note about an

539
00:31:07.050 --> 00:31:10.640
illustration. The illustration is not binding. Okay?

540
00:31:10.670 --> 00:31:14.110
So however you illustrate it here on the software does

541
00:31:14.210 --> 00:31:17.540
not mean that is how it's going to...

542
00:31:17.570 --> 00:31:21.110
It has to perf- uh, not perform, but that's how it has to be

543
00:31:21.150 --> 00:31:25.010
abided by forever. No. Every carrier, no

544
00:31:25.070 --> 00:31:28.410
matter who you illustrate with, assumes you're gonna pay forever.

545
00:31:28.430 --> 00:31:31.170
Okay? The illustration is just that again.

546
00:31:31.180 --> 00:31:34.750
It's just designed to show you what it could be, what it

547
00:31:34.930 --> 00:31:38.650
could look like, depending on whatever your objectives are.

548
00:31:38.900 --> 00:31:41.790
So if they come to you and say, "Okay, this looks great.

549
00:31:41.810 --> 00:31:45.450
What if I wanted to take out money at age fifty?" Okay.

550
00:31:45.460 --> 00:31:47.870
"I wanna go on a nice vacation for my fiftieth birthday.

551
00:31:47.990 --> 00:31:51.030
Can we illustrate that?" Yes, we can. Let's do it.

552
00:31:51.070 --> 00:31:54.450
So we're gonna go back to death benefit and funding.

553
00:31:54.490 --> 00:31:57.650
You're gonna scroll down to the distribution

554
00:31:57.770 --> 00:32:01.650
section. Okay? And what

555
00:32:01.670 --> 00:32:05.460
we're gonna do is I'm gonna change this to solve for...

556
00:32:05.460 --> 00:32:08.250
uh, not solve for. I'm gonna specify amount.

557
00:32:08.330 --> 00:32:11.850
We're g- in the amount section... Oh.

558
00:32:11.910 --> 00:32:15.450
Let's just say they want fifteen thousand because they want to

559
00:32:15.570 --> 00:32:19.510
go on a nice vacation over to Europe, and I

560
00:32:19.590 --> 00:32:22.290
don't even... f-fifteen thousand may not be enough.

561
00:32:22.310 --> 00:32:25.850
That's a, you know... We'll just do fifteen and just assume it's good.

562
00:32:25.890 --> 00:32:29.490
Okay, so I can put fifteen thousand, and then in the from dash through

563
00:32:29.630 --> 00:32:33.050
section, you need to put whatever age they want that money.

564
00:32:33.110 --> 00:32:36.950
So I'm gonna go fifty dash A fifty.

565
00:32:36.990 --> 00:32:40.839
A fifty dash A fifty. That means at age fifty we're gonna take out fifteen

566
00:32:40.970 --> 00:32:43.220
thousand dollars. Now, can anybody...

567
00:32:43.230 --> 00:32:46.430
Does anybody notice an, an issue with my

568
00:32:46.490 --> 00:32:49.870
illustration just from looking at the distribution

569
00:32:49.950 --> 00:32:51.310
section?

570
00:32:52.470 --> 00:32:56.390
I kept the distribution mode as monthly, so if I illustrate it and I go to

571
00:32:56.470 --> 00:33:00.170
quick view, it says I'm taking out fifteen thousand dollars every single

572
00:33:00.230 --> 00:33:04.040
month at age fifty. I don't wanna do that. I gotta go annual.

573
00:33:05.550 --> 00:33:08.630
I mean, I guess you could go monthly if you wanted to, but that policy's gonna run

574
00:33:08.710 --> 00:33:12.619
out of money at some point. All right, so I change annual,

575
00:33:12.650 --> 00:33:15.950
and now when I go to quick view,

576
00:33:17.210 --> 00:33:21.170
I'm paying my two fifty. At age fifty,

577
00:33:21.370 --> 00:33:23.150
I take out my fifteen thousand

578
00:33:23.190 --> 00:33:25.730
dollars.

579
00:33:26.550 --> 00:33:28.290
Let me erase real quick.

580
00:33:29.610 --> 00:33:31.810
And notice, I don't have to pay it back.

581
00:33:31.890 --> 00:33:34.150
What happens if I don't pay it back?

582
00:33:34.210 --> 00:33:37.830
Go over to the, uh, the death benefit, um,

583
00:33:37.870 --> 00:33:41.790
column. My death benefit is reduced by the amount I took

584
00:33:41.930 --> 00:33:43.410
out plus interest.

585
00:33:45.270 --> 00:33:47.790
National Life has a few different interest options.

586
00:33:47.800 --> 00:33:51.490
You can do a variable loan, you can do a participating loan, you can do a

587
00:33:51.550 --> 00:33:55.350
fixed loan. I think the fixed loan is sitting at four point

588
00:33:56.670 --> 00:34:00.510
seven or four point eight right now, and the variable can go anywhere

589
00:34:00.570 --> 00:34:03.910
from three to seven, I believe. I think seven is the

590
00:34:04.030 --> 00:34:05.450
max. Um,

591
00:34:06.470 --> 00:34:10.460
so it's up to you. Um, now anytime someone takes money out

592
00:34:10.511 --> 00:34:12.690
early, what I would suggest

593
00:34:13.630 --> 00:34:17.380
is that they at least pay the interest back so that way the only

594
00:34:17.410 --> 00:34:20.770
thing that is owed is the actual money that they took out.

595
00:34:20.810 --> 00:34:24.591
Okay? But it's like paying yourself back because you're paying the money back

596
00:34:24.670 --> 00:34:28.430
into your policy. Okay? It's not bank on yourself.

597
00:34:28.450 --> 00:34:31.390
That philosophy is usually done via whole life.

598
00:34:31.490 --> 00:34:35.430
Um, but this is your cash value. This is your client's cash value that they

599
00:34:35.470 --> 00:34:38.450
can use as they see fit. Okay, so

600
00:34:38.490 --> 00:34:42.420
Colby, I wanna illustrate showing them paying something back to

601
00:34:42.470 --> 00:34:45.499
the interest. We can do that. Let's go back to death benefit and funding.

602
00:34:46.551 --> 00:34:50.531
Let's scroll down to loan repayment

603
00:34:50.611 --> 00:34:51.680
section.

604
00:34:53.350 --> 00:34:56.910
So now we can say, "Okay, we're gonna pay a

605
00:34:57.051 --> 00:35:00.220
thousand dollars extra a year." I'm gonna...

606
00:35:00.250 --> 00:35:03.450
Well, let me see. Oh. I need

607
00:35:03.490 --> 00:35:06.130
to... A

608
00:35:06.170 --> 00:35:09.320
fifty-one. You can't take out a...

609
00:35:09.330 --> 00:35:13.170
You can't make a loan payment where you're not taking out a loan.

610
00:35:13.210 --> 00:35:17.110
Okay? So I'm gonna make a... I'm gonna pay back a thousand dollars every

611
00:35:17.490 --> 00:35:17.850
year

612
00:35:18.770 --> 00:35:22.570
from starting at age fifty-one. And so now I can go

613
00:35:22.650 --> 00:35:25.210
back to quick view.

614
00:35:28.750 --> 00:35:32.730
Scroll down, and as you can see, I take out my fifteen thousand

615
00:35:32.810 --> 00:35:35.470
dollars. Here's my, um,

616
00:35:36.270 --> 00:35:38.310
loan plus the interest every year.

617
00:35:38.350 --> 00:35:41.430
Here's my extra thousand dollars.

618
00:35:41.490 --> 00:35:43.170
Okay?

619
00:35:44.330 --> 00:35:47.490
And let's see. Does it ever... Let's see. When does it get paid back?

620
00:35:47.510 --> 00:35:51.150
It gets paid back at age ninety-six if I continue to pay that

621
00:35:51.230 --> 00:35:53.090
thousand dollars back to my loan.

622
00:35:54.290 --> 00:35:56.730
At age ninety-six, I am done.

623
00:35:57.870 --> 00:36:01.430
So you can see, I'm, I'm barely paying over interest, but I'm covering

624
00:36:01.490 --> 00:36:05.470
enough so that way no matter what, at least it's only my fifteen thousand

625
00:36:05.530 --> 00:36:06.390
dollar that's owed

626
00:36:07.290 --> 00:36:10.510
and not anything more. That, that's where people get in trouble. Okay?

627
00:36:10.550 --> 00:36:14.490
They take money out early thinking, uh, they were sold, "Oh,

628
00:36:14.570 --> 00:36:17.950
you never have to pay it back," and that's true, but you also have to make sure

629
00:36:18.010 --> 00:36:21.590
there's still enough money in the cash value to self-sustain that

630
00:36:21.630 --> 00:36:25.550
policy. Okay? 'Cause you can get loan arbitrage with the

631
00:36:25.590 --> 00:36:28.850
loan you take out. You can make interest on the money that you

632
00:36:28.870 --> 00:36:32.830
borrow. Okay? 'Cause what National Life and any carrier does is they give you their

633
00:36:32.850 --> 00:36:35.550
money. They don't give you your money, and you can still make an

634
00:36:35.610 --> 00:36:38.878
interest-On the money you borrowed, okay?

635
00:36:38.938 --> 00:36:42.818
So if, if your interest rate is five but you get credited seven percent that

636
00:36:42.858 --> 00:36:45.948
year, you had two percent arbitrage that year, all right?

637
00:36:46.038 --> 00:36:49.388
Um, if you don't know what the heck I just said, do not worry about it.

638
00:36:49.418 --> 00:36:52.388
That's where I come in. I'll help you out. Um, but can...

639
00:36:52.458 --> 00:36:55.898
Again, I can illustrate showing paying that loan back.

640
00:36:55.938 --> 00:36:58.158
You can illustrate not showing paying it back.

641
00:36:58.198 --> 00:37:01.258
It is, it is up to you, okay? Um,

642
00:37:02.938 --> 00:37:03.278
let's

643
00:37:04.658 --> 00:37:06.998
pause for a second. Any questions?

644
00:37:07.008 --> 00:37:08.678
I get excited, so sometimes I speak

645
00:37:08.738 --> 00:37:11.358
quickly.

646
00:37:13.338 --> 00:37:17.158
I'm gonna close this real quickly, and I'm gonna open up a new one, 'cause I

647
00:37:17.238 --> 00:37:20.998
always like to refresh it, like I said.

648
00:37:23.098 --> 00:37:23.358
Okay.

649
00:37:23.378 --> 00:37:24.778
You're doing great co- Colby.

650
00:37:24.918 --> 00:37:27.578
Thank you. Thank you. I, I see-

651
00:37:27.738 --> 00:37:28.308
No questions yet.

652
00:37:28.418 --> 00:37:30.908
I see we lost somebody, so I m- I might have hurt...

653
00:37:30.958 --> 00:37:33.038
I might have confused them, and that's okay.

654
00:37:33.138 --> 00:37:34.118
Um, okay,

655
00:37:34.958 --> 00:37:38.938
let's, let's flip it, okay? I've shown you how to illustrate if they give

656
00:37:38.978 --> 00:37:42.778
you a premium, but what if they come to you, Colby, and say, "Hey, I need

657
00:37:42.858 --> 00:37:45.318
half a million dollars. What's that look like?" We can do that, too.

658
00:37:45.378 --> 00:37:47.118
I'm gonna, I'm gonna use my 35-year-old.

659
00:37:47.138 --> 00:37:51.058
Let's go female this time, okay? So

660
00:37:51.098 --> 00:37:53.878
we've got our 35-year-old

661
00:37:53.938 --> 00:37:57.238
female, and she comes to me and says, "I need

662
00:37:58.258 --> 00:38:01.638
h- half a million dollars. Um, I want this for

663
00:38:02.858 --> 00:38:06.498
accumulation." Great. So in the death be- I'm gonna

664
00:38:06.518 --> 00:38:10.328
ignore the illustration solve. I'm not gonna do any illustration solve.

665
00:38:10.358 --> 00:38:14.068
I'm gonna go straight to death benefit. You go to death benefit.

666
00:38:14.118 --> 00:38:16.998
You can put in your half a million dollars, okay?

667
00:38:17.008 --> 00:38:18.798
And now when we go to premium,

668
00:38:19.698 --> 00:38:23.498
you're gonna select the type, and the type, if you're going

669
00:38:23.618 --> 00:38:27.418
for accumulation, which means maximum accumulation, you need to go

670
00:38:27.498 --> 00:38:31.438
guideline level premium. This is the maximum premium I can put in

671
00:38:31.558 --> 00:38:34.118
on a consistent basis, okay?

672
00:38:35.638 --> 00:38:37.918
And I'm gonna keep it 1-maturity for now.

673
00:38:37.938 --> 00:38:41.038
I'll change it here in a second. Okay, and that's it.

674
00:38:42.298 --> 00:38:45.538
Make sure you go to your interest rates, add your interest rate that you need

675
00:38:45.618 --> 00:38:48.158
to, and then you can go to quick view.

676
00:38:48.218 --> 00:38:51.278
Okay, so what do we have? We've got our half a million dollar face

677
00:38:51.338 --> 00:38:54.618
amount. The guideline level premium is

678
00:38:54.638 --> 00:38:57.598
$621 a month, for

679
00:38:57.618 --> 00:39:00.458
$7,454 a year,

680
00:39:02.278 --> 00:39:06.178
and we had that showing forever. Okay, "Well, I don't wanna pay that forever.

681
00:39:06.198 --> 00:39:09.358
I only wanna pay that until I retire." Okay, when do you think you'll retire?

682
00:39:09.378 --> 00:39:13.138
"Eh, age 65." Great.

683
00:39:14.858 --> 00:39:17.778
One... Okay, not A1. I don't want age one.

684
00:39:17.818 --> 00:39:21.288
Come on. I wanna pay that from

685
00:39:21.558 --> 00:39:25.538
1-A65. We go to quick view, and

686
00:39:25.578 --> 00:39:28.718
notice what happens. At age 66, no more

687
00:39:28.758 --> 00:39:32.698
premium. Perfect. "Well, Colby, I... You know what?

688
00:39:32.778 --> 00:39:36.238
I think an income sounds great. Can I illustrate that?" Yes, you can.

689
00:39:36.298 --> 00:39:39.898
Distribution information. Solve for income.

690
00:39:39.958 --> 00:39:43.698
Notice what it defaults to, age 66-M.

691
00:39:45.378 --> 00:39:47.938
Go back to quick view.

692
00:39:48.958 --> 00:39:52.538
58K per year projected as tax-free income

693
00:39:52.778 --> 00:39:56.758
for your client to supplement Social Security, their 401, maybe

694
00:39:56.778 --> 00:40:00.378
they have a pension, Medicare, whatever the case may, may be.

695
00:40:03.738 --> 00:40:07.598
Do they still have the ability to take out money early and use the cash

696
00:40:07.658 --> 00:40:10.398
value instead of waiting? Yes, they do.

697
00:40:10.418 --> 00:40:14.158
I'm not gonna go illustrate it, but they have the cash surrender

698
00:40:14.238 --> 00:40:16.858
value column that you can say, "Okay, look, at age

699
00:40:17.138 --> 00:40:20.998
54, you're projected to have just under a quarter million

700
00:40:21.038 --> 00:40:24.798
dollars in your account. You can use it as you see fit." My rule of

701
00:40:24.858 --> 00:40:28.168
thumb is I wanna keep at least 25% of the cash value in

702
00:40:28.298 --> 00:40:31.658
there. So if you have $100,000 of cash value, take up to

703
00:40:31.858 --> 00:40:35.698
75K, leave the other 25K. Just know, if you don't pay it

704
00:40:35.738 --> 00:40:39.118
back, more than likely you're gonna have to at least keep paying premiums,

705
00:40:39.158 --> 00:40:42.258
okay?

706
00:40:43.598 --> 00:40:47.178
So again, you can illustrate if they give you a premium.

707
00:40:47.218 --> 00:40:49.698
You can illustrate if they give you a death benefit.

708
00:40:49.738 --> 00:40:52.738
There's a lot of functionality with the

709
00:40:52.758 --> 00:40:56.238
FlexLife, um, that really, like I said, can

710
00:40:56.318 --> 00:40:58.858
fit anybody's needs. I'm not gonna...

711
00:40:58.898 --> 00:41:01.158
I already showed the kid with the college funding.

712
00:41:01.258 --> 00:41:05.138
Um, here's a good thing to note. National Life,

713
00:41:05.158 --> 00:41:09.088
with juveniles, they go up to half a million dollars, um,

714
00:41:09.138 --> 00:41:13.038
for juveniles without the parents having to have anything,

715
00:41:13.058 --> 00:41:16.458
okay? That's a change, because it used to be that both parents had to have the

716
00:41:16.498 --> 00:41:20.278
same. Um, if you need to go above half a million on the kid for

717
00:41:20.298 --> 00:41:24.258
whatever reason, maybe you're talking to Warren Buffett's children, I don't know,

718
00:41:24.378 --> 00:41:24.698
um,

719
00:41:25.858 --> 00:41:29.158
it's... They take the death benefit of the parent that has the

720
00:41:29.198 --> 00:41:33.138
most. So if mom has a million and dad has 750,

721
00:41:33.198 --> 00:41:36.018
child can get up to a million, okay?

722
00:41:36.138 --> 00:41:37.338
Um, juveniles,

723
00:41:38.218 --> 00:41:40.727
they only do standard rates, okay?

724
00:41:40.798 --> 00:41:43.948
I know there's some carriers out there that will do preferred on juveniles.

725
00:41:44.058 --> 00:41:47.558
Uh, National Life is not one.

726
00:41:48.178 --> 00:41:51.778
But let's go to the juvenile. Let's talk about

727
00:41:51.938 --> 00:41:53.018
college funding.

728
00:41:53.998 --> 00:41:55.658
I'm gonna change this to a three-year-old.

729
00:41:55.678 --> 00:41:59.138
Now, this strategy really works and, and bear with me.

730
00:41:59.158 --> 00:42:02.658
Don't worry about what I'm doing. I'm just clearing a few things out real quick.

731
00:42:02.778 --> 00:42:04.998
Um,

732
00:42:07.598 --> 00:42:08.158
none.

733
00:42:09.338 --> 00:42:10.398
Yeah, okay. Um,

734
00:42:11.538 --> 00:42:15.138
this really only works with younger kids, okay?

735
00:42:15.198 --> 00:42:18.808
Someone who's already tw- 11, 12, 13,

736
00:42:19.258 --> 00:42:22.458
it's gonna be tough to accumulate enough cash, um,

737
00:42:23.038 --> 00:42:23.398
to

738
00:42:24.378 --> 00:42:28.218
s- help fund college expenses. Um, so someone

739
00:42:28.278 --> 00:42:32.068
who's y- younger, much better. Um, both...

740
00:42:32.098 --> 00:42:34.498
I've got two kids. Both of my kids, I got their policies.

741
00:42:34.518 --> 00:42:38.018
I got them IULs at age one, and I plan to use it for college

742
00:42:38.058 --> 00:42:41.464
expenses. Um-Um, I'm hoping they get

743
00:42:41.494 --> 00:42:44.954
scholarships, and who knows, by the time my kids go to college it might be so

744
00:42:44.974 --> 00:42:48.824
expensive that only the elite can go. So we'll see.

745
00:42:48.834 --> 00:42:52.334
But the great thing... Okay, well, Colby, why didn't you get a five twenty-nine?

746
00:42:52.354 --> 00:42:55.634
Well, the five twenty-nine is only for education costs.

747
00:42:55.714 --> 00:42:59.234
If they never go to school or they get scholarships and get everything paid for, I

748
00:42:59.314 --> 00:43:02.574
can't use it for anything else without being penalized.

749
00:43:02.654 --> 00:43:06.614
IUL, no penalty. If they never use it for college, great. That's fine.

750
00:43:06.634 --> 00:43:10.574
They can use it for other things. Um, they can use it for their own retirement.

751
00:43:10.654 --> 00:43:13.854
Uh, they can use it as an investment opp- They can use the cash to be able to

752
00:43:13.874 --> 00:43:16.954
invest in other areas, you know, the market or real estate or something.

753
00:43:17.594 --> 00:43:21.034
Um, they've got a lot of flexibility with that cash, and there's no rhyme or reason

754
00:43:21.074 --> 00:43:24.834
to what... National Life is not gonna sit here and say, "You can't use it for

755
00:43:24.894 --> 00:43:28.454
that." Nope. You need money, you gotta... You've got the money. Great. Here you go.

756
00:43:28.474 --> 00:43:32.114
All right, so let's go to our three-year-old.

757
00:43:32.194 --> 00:43:35.854
Let's just... I'm going for education costs, so I'm gonna go

758
00:43:35.914 --> 00:43:39.834
minimum death, max cash. Minimum death, max cash is

759
00:43:39.894 --> 00:43:42.914
getting as much money as possible.

760
00:43:44.254 --> 00:43:47.694
Let's go specify amount. Let's just do two fifty,

761
00:43:47.794 --> 00:43:51.654
okay? Um, what I would also... As an agent, when

762
00:43:51.694 --> 00:43:55.504
someone would say, "I wanna help fund, uh, my kid's education," Great.

763
00:43:55.554 --> 00:43:58.134
How much do you wanna put away? Fifty bucks.

764
00:43:58.174 --> 00:44:01.974
Fifty bucks a year is six hundred dol- or fifty bucks a month is six hundred

765
00:44:02.034 --> 00:44:05.614
dollars a year. You do that for ten years, it's six thousand dollars.

766
00:44:05.634 --> 00:44:09.114
You do it for twenty years, that's twelve thousand dollars.

767
00:44:09.234 --> 00:44:11.454
Maybe you make a little bit of money on that.

768
00:44:11.474 --> 00:44:14.354
It's just, is that gonna be enough for education? Probably not.

769
00:44:14.414 --> 00:44:17.674
So they just... You have to set those realist- realistic

770
00:44:17.774 --> 00:44:21.514
expectations that if they save fifty bucks, I can't turn fifty bucks

771
00:44:21.694 --> 00:44:25.274
into college education funding fully.

772
00:44:25.314 --> 00:44:28.744
I might be able to pay for certain things. Maybe I can pay for room and board.

773
00:44:28.794 --> 00:44:32.694
Maybe I can pay for books. Um, it depends on where, where they're going to school,

774
00:44:32.734 --> 00:44:36.614
right? Um, but you just have to set that expectation that this is only as good

775
00:44:36.654 --> 00:44:39.274
as the money you can put in and the time you have to put that in.

776
00:44:39.334 --> 00:44:39.494
So

777
00:44:40.334 --> 00:44:43.714
I'm gonna just go put two fifty. They understand that they need to put some money

778
00:44:43.724 --> 00:44:47.604
into it. Um, and w-when you go to Quick View, you can

779
00:44:47.654 --> 00:44:51.054
show it this way. You can just say, "Okay, look, at age eighteen

780
00:44:51.954 --> 00:44:53.854
they're projected to have sixty-five K.

781
00:44:53.894 --> 00:44:57.654
That's, that's the money you can use for education." I like to illustrate it, and

782
00:44:57.714 --> 00:45:01.254
I've got two ways I would illustrate it.

783
00:45:01.314 --> 00:45:04.774
The first way, so we're gonna come back down to Distribution

784
00:45:04.834 --> 00:45:08.334
Information, is I would go Specify

785
00:45:08.354 --> 00:45:12.044
Amount, and I'm just gonna do twelve

786
00:45:12.174 --> 00:45:13.294
thousand dollars

787
00:45:14.294 --> 00:45:18.274
annually from a... I'm gonna go nineteen

788
00:45:18.334 --> 00:45:21.294
'cause most of the time we're not having to pay it.

789
00:45:21.374 --> 00:45:24.174
You know, it's a, it's a mix between eighteen and nineteen, so I'm just gonna do

790
00:45:24.234 --> 00:45:25.674
nineteen. They got an early birthday.

791
00:45:26.594 --> 00:45:28.554
Twenty twenty-one, twenty-two.

792
00:45:32.794 --> 00:45:35.814
All right. Age nineteen to age

793
00:45:35.854 --> 00:45:39.154
twenty-two. I'm gonna take out twelve thousand dollars

794
00:45:40.034 --> 00:45:43.824
all four years to help pay for those education costs.

795
00:45:43.854 --> 00:45:47.174
Now, when I go to Quick View,

796
00:45:49.494 --> 00:45:52.714
I'm paying my premium, I've got my death benefit, and then

797
00:45:52.814 --> 00:45:56.534
boom, twelve thousand dollars. Year one, take the money out,

798
00:45:56.594 --> 00:45:58.954
boom, help pay for education. Year two, same thing.

799
00:45:58.974 --> 00:46:00.894
Three, four, boom, done.

800
00:46:02.614 --> 00:46:04.714
Is twelve thousand enough for education?

801
00:46:04.754 --> 00:46:07.514
It really depends on where you're going. Okay.

802
00:46:07.574 --> 00:46:10.474
A major state school, probably not.

803
00:46:10.514 --> 00:46:13.634
Maybe a smaller state school, maybe.

804
00:46:13.734 --> 00:46:17.334
Uh, maybe they stay close to home and they don't... They stay at the house.

805
00:46:17.374 --> 00:46:19.794
Maybe you don't want that. I... You know, it's a great question.

806
00:46:19.874 --> 00:46:23.434
Um, but I can illustrate it like that. I can even illustrate more.

807
00:46:23.514 --> 00:46:26.214
I, I even do this sometimes. Oh my gosh.

808
00:46:26.314 --> 00:46:28.334
I want the eraser.

809
00:46:30.254 --> 00:46:33.994
Let's do this. I'm gonna add a row to the Premium

810
00:46:34.074 --> 00:46:35.474
section.

811
00:46:40.454 --> 00:46:43.934
What the heck did I just do, Colby? Great question.

812
00:46:43.974 --> 00:46:47.914
What I just did was I'm gonna pay my two fifty every month

813
00:46:48.654 --> 00:46:52.334
all the way to age eighteen. At age nineteen, when I'm taking money

814
00:46:52.454 --> 00:46:56.394
out for those college expenses, I'm not gonna

815
00:46:56.454 --> 00:47:00.394
pay my premium, and then once... Oh, I need to change that.

816
00:47:02.454 --> 00:47:06.274
Go back to fifty. And then once we're done paying for those college

817
00:47:06.334 --> 00:47:09.894
expenses, we'll start up the two fifty again.

818
00:47:09.954 --> 00:47:13.914
So now, not only do I have the twelve thousand dollars I'm taking

819
00:47:14.014 --> 00:47:17.714
out, I have the three thousand dollars a year I'm no longer

820
00:47:17.754 --> 00:47:21.434
paying to this policy. So I've got my twelve thousand dollars, add

821
00:47:21.474 --> 00:47:25.334
another three grand, now I've got fifteen thousand dollars to play with.

822
00:47:25.374 --> 00:47:28.874
Now we're paying for a college education.

823
00:47:31.234 --> 00:47:34.704
Once they graduate, and they, and they have their...

824
00:47:34.714 --> 00:47:38.554
hopefully have a job and they're starting their career, you can

825
00:47:38.614 --> 00:47:42.094
transfer ownership to them. There will be a small tax consequence because of

826
00:47:42.134 --> 00:47:45.104
ownerf- ownerf- ownership transfer.

827
00:47:45.214 --> 00:47:47.814
Um, but then they can start paying into their policy.

828
00:47:47.914 --> 00:47:51.724
Obviously they took a loan out early, so, you know, we wanna make sure that this

829
00:47:51.734 --> 00:47:55.584
policy still survives. But because it's a kid, again, more than likely

830
00:47:55.614 --> 00:47:59.194
it will. Um, and that kid can increase those premiums over

831
00:47:59.234 --> 00:48:02.244
time. So that's one way to illustrate.

832
00:48:02.274 --> 00:48:03.004
The other way

833
00:48:04.334 --> 00:48:07.994
you could do it, and I'm gonna delete that one, and I'm gonna go back to

834
00:48:08.194 --> 00:48:10.854
paying premiums forever for now,

835
00:48:13.154 --> 00:48:16.914
is instead... Let's do... No, let's do

836
00:48:16.974 --> 00:48:18.894
sixty.

837
00:48:22.874 --> 00:48:25.954
Just give me a minute. I'm just putting... There we go.

838
00:48:25.964 --> 00:48:29.474
All right. Instead of taking money out

839
00:48:29.974 --> 00:48:32.534
all four years, why don't we keep the money in there?

840
00:48:32.574 --> 00:48:36.454
Let's u- let, let's let interest do its thing for those four

841
00:48:36.514 --> 00:48:40.314
years. Let's, uh, keep accruing, and instead we'll try to

842
00:48:40.374 --> 00:48:42.884
apply for scholarships, we'll try to apply for grants.

843
00:48:42.914 --> 00:48:46.534
We'll get as much of the college education expenses paid for as we

844
00:48:46.554 --> 00:48:50.346
possibly can.And whatever is

845
00:48:50.386 --> 00:48:54.096
left over will go get student loans. Oh my gosh, student loans. I know.

846
00:48:54.426 --> 00:48:58.296
I, I don't want you to freak out, but more than likely the kid has not started

847
00:48:58.326 --> 00:49:01.766
their credit journey, and we all know that's a fun journey to start.

848
00:49:01.866 --> 00:49:05.746
Um, so I can... We can do the student loans to st- har- start to help

849
00:49:05.766 --> 00:49:09.626
building their credit, but you don't have to pay

850
00:49:09.666 --> 00:49:13.196
those student loans back until six months after you leave,

851
00:49:13.306 --> 00:49:15.456
um, the education

852
00:49:17.226 --> 00:49:20.486
timeline, whatever that is, after you graduate. Geez, Colby.

853
00:49:20.586 --> 00:49:23.146
Um, six months. So you have six months after that.

854
00:49:24.166 --> 00:49:25.046
So what you can do

855
00:49:26.506 --> 00:49:29.226
is say, "Okay, boom, we'll take $60,000

856
00:49:29.306 --> 00:49:32.766
out," pay off the student loan from the

857
00:49:32.906 --> 00:49:33.626
get-go,

858
00:49:35.026 --> 00:49:38.406
and now we've paid for our college education, but the child

859
00:49:38.986 --> 00:49:40.806
was able to start building up their credit.

860
00:49:42.226 --> 00:49:45.766
That is another way I've had many people illustrate it. It really doesn't matter.

861
00:49:45.786 --> 00:49:49.526
It's personal preference. Um, but either way

862
00:49:49.706 --> 00:49:50.266
will work

863
00:49:51.086 --> 00:49:52.356
w- with how you want to illustrate it.

864
00:49:52.366 --> 00:49:55.186
And again, you don't even have to actually do this part of it.

865
00:49:55.226 --> 00:49:56.976
You could just say, "Look at this cash value.

866
00:49:57.006 --> 00:50:00.936
You can use the cash value to help pay for those education costs."

867
00:50:00.946 --> 00:50:04.586
But when you can illustrate it, it just visually, it helps.

868
00:50:04.646 --> 00:50:06.566
Okay?

869
00:50:08.446 --> 00:50:11.906
Okay. Woo. I told you I was gonna throw a lot at

870
00:50:11.986 --> 00:50:15.946
you. I told you. I'm gonna tell you right now, I know most of you will

871
00:50:16.006 --> 00:50:19.466
forget everything I just said. Please, broker link

872
00:50:20.166 --> 00:50:23.986
or go to product information, go to the Life Hub,

873
00:50:24.126 --> 00:50:28.066
learning aids. I've got those videos, and I've broken it down.

874
00:50:28.106 --> 00:50:31.546
So most of these videos are s- eight to 11 minutes

875
00:50:31.626 --> 00:50:34.916
long. You can focus on the college, the income, the

876
00:50:34.946 --> 00:50:38.806
protection. I even go into a little bit more detail,

877
00:50:38.926 --> 00:50:41.846
um, with some of those ways to

878
00:50:41.866 --> 00:50:45.566
illustrate. Uh, if you wanna learn more about illustrating Rapid

879
00:50:45.646 --> 00:50:48.946
Protect, I've got it. Uh, you wanna learn more about

880
00:50:49.206 --> 00:50:53.076
the, um, second to die IUL with Survivor,

881
00:50:53.106 --> 00:50:56.496
we've got it. You wanna learn about the basic secure FUL?

882
00:50:56.546 --> 00:51:00.286
That's a fixed universal life. Everything is pretty much the same except for it's a

883
00:51:00.346 --> 00:51:03.846
fixed rate of return, not an index rate of return.

884
00:51:03.886 --> 00:51:06.886
We've got it. You wanna learn about the whole life? We've got it.

885
00:51:06.926 --> 00:51:09.906
I'm not gonna do a video on term because a term's a term's a term.

886
00:51:09.926 --> 00:51:12.406
It's easy to quote, and it's on our quoter.

887
00:51:12.486 --> 00:51:16.046
Um, but I do wanna make note of one more thing.

888
00:51:16.126 --> 00:51:17.916
I told you, National Life, living benefits.

889
00:51:17.926 --> 00:51:21.846
That is what they are known for.

890
00:51:21.856 --> 00:51:25.566
Well, last year, they enhanced it, so we already lo- talked about their

891
00:51:25.586 --> 00:51:28.566
chronic care rider, their premium one. That one does cost.

892
00:51:28.606 --> 00:51:32.516
Their, their original basic chro- chronic illness rider comes

893
00:51:32.546 --> 00:51:34.916
with the product, comes with the policy.

894
00:51:35.006 --> 00:51:38.806
Every single living benefit that National Life offers automatically

895
00:51:38.866 --> 00:51:42.506
comes with the policy. National Life can take them away for health

896
00:51:42.546 --> 00:51:45.966
issues, okay? But they come with the policy.

897
00:51:45.986 --> 00:51:48.986
The premium one, you gotta pay a little bit of money, and you get the premium

898
00:51:49.046 --> 00:51:52.866
payout. Okay? But what they also added that I really didn't talk about was

899
00:51:52.906 --> 00:51:55.366
this compassionate care program.

900
00:51:56.146 --> 00:51:59.986
It is only on the FlexLife, okay? You can't get this on any other product.

901
00:52:00.006 --> 00:52:03.966
But what it does is it basically, through a company called Home Thrive,

902
00:52:04.046 --> 00:52:07.806
I mentioned to it... mentioned it to you on the living benefit breakdown.

903
00:52:09.106 --> 00:52:12.926
It is a third party that all clients that have a FlexLife that has been

904
00:52:12.946 --> 00:52:16.646
written la- late last year and, and on,

905
00:52:17.286 --> 00:52:20.626
um, has a third party that helps with other

906
00:52:20.726 --> 00:52:24.546
areas of your life, okay,

907
00:52:24.646 --> 00:52:28.626
as the client. So they can help with Alzheimer's or dementia support

908
00:52:28.706 --> 00:52:31.706
because how many of us can understand and know what that

909
00:52:31.786 --> 00:52:35.306
undertaking, um, entails? They can help with

910
00:52:35.346 --> 00:52:38.086
disability, chronic conditions, veterans.

911
00:52:38.106 --> 00:52:41.496
Um, some of you, obviously us here at the brokerage, we're very...

912
00:52:41.506 --> 00:52:44.506
We do a lot of Medicare. Some of you might do a lot of Medicare.

913
00:52:44.546 --> 00:52:47.566
You may not need help with this. But for those of you that don't, they've got

914
00:52:47.606 --> 00:52:50.666
assistance through Home Thri- Home Thrive that can help with Medicare

915
00:52:51.106 --> 00:52:54.586
navigation, hospice, legal, financial, senior living.

916
00:52:54.686 --> 00:52:58.346
Um, here is that flyer that talks more about it.

917
00:52:58.366 --> 00:53:01.966
It's a 24/7 personalized care rep

918
00:53:02.426 --> 00:53:05.366
for the clients of FlexLife. Okay?

919
00:53:05.466 --> 00:53:08.706
Um, just again, taking the extra step

920
00:53:09.486 --> 00:53:13.366
with their living benefits. This is not necessarily a living benefit,

921
00:53:13.406 --> 00:53:14.686
but it is an, an, an

922
00:53:15.606 --> 00:53:19.486
massive additional value benefit that no one

923
00:53:19.566 --> 00:53:22.676
else offers. Um, Transamerica has something very similar

924
00:53:23.266 --> 00:53:27.186
through their concierge planning rider on their IUL.

925
00:53:27.266 --> 00:53:31.026
It's very similar to this, and, uh, those are massive

926
00:53:31.106 --> 00:53:35.086
additions to those products. Um, the only other one that I didn't talk

927
00:53:35.146 --> 00:53:38.706
about is they, National Life also has a fertility journey

928
00:53:38.826 --> 00:53:42.046
rider, meaning that if a client is going through fertility

929
00:53:42.086 --> 00:53:45.486
treatments, National Life has the ability where they can access

930
00:53:45.566 --> 00:53:49.366
cash, um, where they can access cash

931
00:53:49.406 --> 00:53:52.766
value to help pay for it without s- type surrenders.

932
00:53:52.786 --> 00:53:56.626
And, and there's more to it than just that, but National Life, like I

933
00:53:56.706 --> 00:54:00.206
said, if you forget everything, just remember they own

934
00:54:00.626 --> 00:54:04.466
the living benefits space. Okay? That is where

935
00:54:04.506 --> 00:54:08.106
they thrive. A- and you would be hard,

936
00:54:08.166 --> 00:54:11.706
hard-pressed to find another carrier that has

937
00:54:12.306 --> 00:54:15.566
better living benefits. And I, you know, I, I try to

938
00:54:15.646 --> 00:54:19.106
be, um, as objective and not subjective as

939
00:54:19.146 --> 00:54:23.086
possible. Um, als- obviously, I'm a little biased because

940
00:54:23.166 --> 00:54:26.586
I've been working with National Life so long, but I've worked with a lot of other

941
00:54:26.726 --> 00:54:30.606
carriers, and National Life with their living benefits,

942
00:54:31.906 --> 00:54:35.626
I will subjectively say I think are the best in the industry.

943
00:54:35.666 --> 00:54:39.626
Okay? Um, Crystal, I know a question

944
00:54:39.706 --> 00:54:43.666
popped up, but you answered it really quickly. Any- anything else?

945
00:54:43.766 --> 00:54:45.186
No other questions.

946
00:54:45.196 --> 00:54:45.206
I-

947
00:54:45.226 --> 00:54:46.026
Sorry. Go ahead.

948
00:54:46.066 --> 00:54:49.196
I, I have to say, you get more questions than I do. I think I, I might- ...

949
00:54:49.246 --> 00:54:52.746
I might have been, I might have gone too fast, and I just get so excited, and we

950
00:54:52.886 --> 00:54:56.106
literally have five minutes, and we could spend another hour talking FlexLife.

951
00:54:56.298 --> 00:55:00.218
I think you, you did it really well, and you went through it thoroughly that

952
00:55:00.278 --> 00:55:03.538
I think that's why we don't have that many questions, and that's okay.

953
00:55:03.618 --> 00:55:06.228
Um, one thing I do want to mention to you guys...

954
00:55:06.258 --> 00:55:09.198
Let me just share my screen really quick.

955
00:55:09.278 --> 00:55:13.208
Um, I wanna show you guys where you can get your, um,

956
00:55:13.218 --> 00:55:14.598
product information

957
00:55:15.398 --> 00:55:19.358
and also in our term quote engine. Let me take

958
00:55:19.398 --> 00:55:23.158
a look here. Okay. So I... If you're

959
00:55:23.258 --> 00:55:27.118
looking for agent guides, if you're looking for the underwriting guides

960
00:55:27.158 --> 00:55:30.478
for this particular product or for any of the NLG

961
00:55:30.598 --> 00:55:34.018
products, click on Product Information, do a product

962
00:55:34.118 --> 00:55:37.898
search. You can select a specific product, or you can click

963
00:55:38.158 --> 00:55:41.858
Life, and it'll pull up all of our life carriers and products.

964
00:55:41.878 --> 00:55:45.478
So we have pretty much all of them on here for

965
00:55:45.618 --> 00:55:49.558
you. So when you click on Flex Life iUL, you have your

966
00:55:49.618 --> 00:55:53.198
consumer buyer's guide, a client flyer, um,

967
00:55:53.258 --> 00:55:56.768
understand their, um, their easy underwriting, which is their

968
00:55:56.798 --> 00:56:00.618
accelerated underwriting program, um, and also the

969
00:56:00.658 --> 00:56:04.488
product guide for you guys as the agents and a quick reference of this

970
00:56:04.578 --> 00:56:08.258
specific product. Another thing is, is if you're going to

971
00:56:08.418 --> 00:56:11.318
run term quotes with, um, this

972
00:56:11.458 --> 00:56:14.978
carrier, you're going to find it under Life Insurance

973
00:56:15.158 --> 00:56:18.398
Company of the Southwest when you're using our term quote

974
00:56:18.478 --> 00:56:22.278
engine. Um, so when you run the quote, you'll look for a

975
00:56:22.698 --> 00:56:26.378
carrier that looks like this, LSW, member of National Life Group.

976
00:56:27.198 --> 00:56:30.878
The last thing I want to mention is if you're going to run the quote in

977
00:56:30.918 --> 00:56:34.828
WinFlex, um, and you're registering, you will

978
00:56:34.878 --> 00:56:38.658
not receive a National Life Group, um, in

979
00:56:38.898 --> 00:56:42.248
here. What you'll have to do is once you get contracted and

980
00:56:42.298 --> 00:56:45.998
appointed, you'll be able to come through your,

981
00:56:46.058 --> 00:56:49.938
your, uh, WinFlex web portal, and what you're gonna

982
00:56:50.018 --> 00:56:53.818
do is you're gonna add a company. You're gonna look for National

983
00:56:53.898 --> 00:56:57.698
Life Group, but mine isn't on here anymore because I've already requested it.

984
00:56:57.718 --> 00:57:00.778
You'll put in your agent code, and you'll click Place

985
00:57:00.938 --> 00:57:04.458
Request. And that's how, um, you'll be able to

986
00:57:04.558 --> 00:57:08.458
see National Life Group in WinFlex when all of that

987
00:57:08.538 --> 00:57:11.078
is approved. Any more

988
00:57:11.158 --> 00:57:14.138
questions?

989
00:57:16.518 --> 00:57:20.158
Do we still need to do the prequalification form before

990
00:57:20.398 --> 00:57:22.138
we start this process?

991
00:57:22.998 --> 00:57:26.718
Um, it's always best to, uh, talk to your client and get to know,

992
00:57:26.818 --> 00:57:30.678
um, you know, their health. Um, you know, it's just

993
00:57:30.738 --> 00:57:33.918
like any kind of other regular life product.

994
00:57:33.978 --> 00:57:35.958
So make sure you're reaching out to them.

995
00:57:35.978 --> 00:57:39.678
You can use that prequalifier form that we have on file as well, or not on

996
00:57:39.758 --> 00:57:42.707
file, but on our website for you to download and use.

997
00:57:42.718 --> 00:57:44.588
And I'll be able to send that to you guys, um,

998
00:57:45.858 --> 00:57:47.928
in the email along with the recording and other

999
00:57:48.038 --> 00:57:51.078
pieces.

1000
00:57:53.558 --> 00:57:55.198
Other than that, Bulby,

1001
00:57:56.178 --> 00:57:57.218
thank you for joining.

1002
00:57:57.278 --> 00:57:57.707
Yeah. Absolutely.

1003
00:57:57.707 --> 00:58:00.428
And thank you guys for joining. I'll send out to the re...

1004
00:58:00.458 --> 00:58:03.058
I'll send out the recording here in a little bit.

1005
00:58:03.138 --> 00:58:04.577
Thank you, everyone. Have a good one.