Watch this snippet of Hutch’s “Explaining Loans” webinar where he discussed using loans and how to start to delve into the business market. If you haven’t worked your way into relationships with business owners, NOW is the time to start!
Scroll below to see all the learning modules, tools, and archives available as part of the Banking Truths Brain Trust annual or quarterly membership below or scroll to the very bottom past everything included to watch a quick VIDEO TOUR of the Banking Truths Brain Trust members-only portal.
Get More Bang For Your Buck When You Pay Annually!
Do you struggle to keep your clients interested in discussing permanent life insurance for the 3-5 meetings necessary to make a sale?
Do you feel overwhelmed by how much there is to learn and wonder where the best place to start is?
Do you want proven language, sketches, and strategies designed to simplify the life insurance learning process so that your clients consistently move on your advice?
Do you want to ethically and effectively show clients how to build their own private family bank so that life insurance becomes something they crave rather than a necessary evil?
Our education is designed to improve your understanding and delivery when explaining how life insurance works. If you like Hutch's concisely powerful style of explaining the utility of life insurance in a way that's compelling yet ethical, then this course is for you.
Hutch and the Banking Truths Team will conduct 2-3 live webinars per month sharing their insights on different phases of a case, planning strategies involving life insurance, practice management tips, industry updates, and success mindsets. Member participation is welcome, and there are multiple opportunities to ask questions about the topics at hand or whatever you're grappling with.
Here's What's Waiting For You:
There is currently over 14 hours of solid video and webinar content by Hutch and Ben in the Members-Only area to watch at your leisure. Scroll below to see the full list of archived webinars. (It's all quality. No fluff or filler!)We've actually time-stamped each webinar so you can skip right to exactly what you want to learn whenever you have a few moments. (We understand your time is a non-renewable resource.)
We also have over 25 unique worksheets and documents that we have white-labeled so you can print and use with your own clients. Scroll below to see the full list of downloadable worksheets. There are also a time-stamped links to either a video or webinar replay where Hutch shares exactly how he uses each worksheet along with some unique language and/or drawings. (No need to reinvent the wheel yourself. Use what's already been thoroughly tested and refined in the field.)
Bonus Content: Learn from two industry veterans (with over 70 years of combined experience) as they share how they pre-frame their offer for high-net-worth clients, and position themselves to work with the CPAs and Attorneys as allies rather than adversaries. (These recordings are timeless classics for anyone wanting to step up their game in the high-net-worth market.)
What You'll Personally Get From Us:
Since your hopes of success really ride on the rails of effective communication, you'll first get a link to better understand your own communication profile by answering 27 multiple-choice questions in 20 minutes. You will also get a download of both Hutch and Ben’s profiles since they mirror some of the best types of prospects.You also get personalized 1-on-1 calls with both Ben and Hutch. It's your time to use however you want, but here’s what we suggest to get the best use out of your calls::
- With Hutch it's best to discuss how best to develop your business niche and especially what to say to intrigue entrepreneurs and real estate investors about your offer.
- With Ben you'd be well served to discuss policy selection, illustration design pro-tips, and challenging underwriting situations you may have.
When you pay quarterly you get 20-minutes with each Hutch and Ben (2 calls = 40 minutes total).
However, when you pay annually you get two separate 30-minute calls each with Hutch and Ben (4 calls = 2 hours total). You also get 12 months for the price of 10 months when paying annually!
List of Webinar Replays (all time-stamped for surgical viewing)
Powerful Open Talks Using Social Proof - 3/28 ReplayWatch Hutch unbundle his famous "Bank Talk" so your clients will want to do what banks do, not what they say. Hutch also discusses other notable positive uses of life insurance by other Fortune 500 companies and sports personalities. The webinar page has downloads so you can create your own printable materials to help you deliver these same paradigm-shifting talks with your clients. These early discussions are key to bumping your clients' paradigm around life insurance creating early case momentum, and moving life insurance from the "need" category to something they actually desire.
How We Create and Explain Our Illustration Template – 4/10 Replay
This webinar shows you how to run the same WL or IUL illustration many ways to prepare for the most common questions that clients will regularly ask. Preparing various scenarios shows the full range of a policy. Backing up the discussion with proactively prepared numbers makes them feel at ease, and helps you show up like a pro. Example illustration templates are available to download.
Deep-Dive Into the Top WL and IUL Companies of 2018 – 4/24 Replay
This webinar breaks down the details of the top companies that offer Whole Life and Indexed Universal Life insurance. Whether you offer a certain product or sell against it, we drill deep down into how each grows, loan rates, key rider information, and a summary of how these usual suspects performed in an internal comparative performance test. Spreadsheets from April 2018 are available for download with all the detailed info shared on the webinar.
Using the Bucket Talk so Your Clients Crave Life Insurance – 5/8 Replay
This webinar starts with a quick overview of how to effectively use stories to market yourself whether in person or on tech platforms like your website or LinkedIn. Hutch then shows you his “Bucket Talk” discussing taxes, risk, and liquidity; which visually gives your client that “Aha-moment” as to why they want (not need) life insurance. This talk uses simple sketches to educate them about their alternatives, so they quickly realize what an amazingly versatile asset class life insurance can be. Several white-labeled worksheets will be discussed and available for immediate download and use in the field.
Activity and Case Management Tips and Tracking From Ben + More Elevator Pitches With Hutch - 5/17 Replay
In this webinar, we discuss managing a case from initial introduction to policy servicing. Gain some insights and tools to take a new prospect from simply a name on a business card to a long-term client. We also share tips and tools to manage the client through each phase of the sales process so that the client’s expectations are exceeded and your precious prospects never fall through the cracks. Hutch also shares some custom elevator pitches to show you how he condenses and reshapes his normal open talk into quick sound-bites that will resonate with certain niches.
How to Become the Primary Beneficiary of Your Own Death Benefit - 5/25 Replay
On this webinar, we went over maximizing retirement using Whole Life’s death benefit as the “permission slip”. We also detailed pension maximization using Whole Life for state and federal workers. Later on, Hutch explained how to transform a request for a term quote to get your clients to actually ask to learn more about permanent insurance. We go in-depth on how to use this common initial “quote” request to discuss the hidden utility of life insurance (LTC, optimizing retirement, better bank now).
Explaining Loans Plus Intro to the Business Market - 6/6 Replay
During this webinar, we discussed using loans and how to start to delve into the business market. If you haven’t worked your way into relationships with business owners, NOW is the time to start! “Loans”, “borrow”, and “life insurance” can make people run for the hills. However, you already know that the loan provision of a properly-structured life insurance policy is key to becoming your own banker. They will too if you explain it properly, which can lead to better closing ratios and bigger cases once they get comfortable with this concept.
Buy-Sell Agreements - 6/29 Replay
This webinar will help you fully understand the different types of Buy-Sell Agreements, why they’re so important for business partners, and how to easily incorporate the banking strategy into this often purely-protection discussion.
Buy-Sell Agreements Part 2 - 7/6 Replay
In Part 2 of Buy-Sell Agreements, we take the top-level information we learned in Part 1 and apply it to a recent case of Hutch’s. We looked in-depth to show you how we helped avoid any major time-bombs in the agreement, while also gradually leading the client to a point that they were interested in looking at life insurance.
Future Ongoing Live Webinar Topics (2-3 per month):
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- How Life Insurance Should Complement NOT Compete with your client's different wealth-building strategies
- The many uses of Business-Sponsored Life Insurance. Get familiar with the most lucrative niche in our business so you don’t tip-toe around your best prospects
- Discussing brand new mid-year and year-end tax planning opportunities with the recently passed TCJA legislation
- Collaborating with CPA's, Attorneys, Other Insurance Agents, and the little-known hidden gem of all strategic alliances
- Updated LinkedIn Prospecting Tips that aren't "played out" (yet)
- Tech Tips and Field Tools from Hutch
- Ongoing Insurance Product Updates and Anomalies
- Opportunity to get live help from Hutch with your own cases on an upcoming webinar. Your chance to discuss an anonymous fact-pattern with Hutch at any stage of the case.
- Multiple hours of timeless recordings from 2 different MDRT rock stars each with over 35 years in the business.
Custom White-Labeled Worksheets (With Video Explanations)
This video shows you how to create current bank balance sheets for any banking institution you want. Thankfully it’s public information so you can create these as often as you want. Or you can use the time-tested older template that Hutch has pre-annotated and uses every time. Print them up to draw on, or show your clients the PDF from your tablet, laptop, or cell-phone.
CREDITOR PROTECTION (BY STATE) FOR LIFE INSURANCE
This document gives you an overview of how different states treat both the death benefit and cash value in terms of creditor protection from lawsuits as well as bankruptcy. This document also includes the code for each state statute so you can encourage your clients to have their legal council verify the information.
PANTS WORKSHEET: SHIFTING FROM ONE POCKET TO ANOTHER
This worksheet helps you prove to your clients that they can maintain sufficient liquidity WHILE still heavily-funding their life insurance policy. You choose the key years you want to feature, then input values so you can walk them through how paying premium can be like moving money from one pocket to another.
HISTORIC MARGINAL TAX BRACKETS
This handy document shows all the tax brackets both before and after the Tax Cuts and Jobs Act (TCJA) side by side. So many conversations can be had using this worksheet in addition to those Hutch shared on the original webinar this document was featured in. We plan to continue featuring it regularly in webinars, and you should too with your clients. It also graphs the movement of both the highest and the lowest tax brackets since the inception of the income tax in 1913. This is especially important for clients who won’t be able to zero out their taxes in retirement, but who can still create a balanced and optimized distribution strategy.
CHECKLIST AND QUESTIONS FOR CHOOSING IUL OR WL
This 3-page document is designed to help your clients better understand the pros and cons of Whole Life and IUL. It also describes which types of people gravitate to each product, as well as images describing the risk/reward tradeoff of WL and IUL. Whether you are dedicated to one product or not, this document can help you have a balanced conversation if they ask why you recommended one vs. the other.
CREATING COMPELLING WHOLE LIFE ILLUSTRATION TEMPLATES
This illustration template and video shows you how we run the same Whole Life illustration multiple ways to prepare for the most common questions and objections that clients commonly have when presented Whole Life insurance. Backing up dialogue with proactively prepared numbers makes them feel at ease, and helps you show up like a pro.
WHOLE LIFE COMPANY COMPARISONS
This excel spreadsheet breaks down the details of the different mutual companies that offer Whole Life insurance. It discusses product-specific details, key rider information, and a summary of how they performed in our internal comparative performance test. This information is from April 2018.
INDEXED UNIVERSAL LIFE COMPANY COMPARISONS
This excel spreadsheet breaks down the details of the different companies that offer Indexed Universal Life insurance. It discusses product-specific details, key rider information, and a summary of how they performed in our internal comparative performance test. This information is from April 2018.
CREATING COMPELLING IUL ILLUSTRATION TEMPLATES
This illustration template and video show you how we run the same Indexed Universal Life illustration multiple ways to prepare for the most common questions and objections that clients commonly have when presented Indexed Universal Life insurance.
IUL'S CHARGES - QUANTIFYING AND QUALIFYING THEM
Use this simple excel spreadsheet to unpack all of IUL's charges, quantify them, and frame them against the value that's being created. When a client wants to see the charges, there's no need fumble around. This worksheet and Hutch's corresponding training on what to highlight and what to say will help you shed light on them in a way that's compelling. Clients don't mind paying for anything if there's value attached.
IUL CREDITING HISTORIES WITH DIFFERENT CAPS
This spool of PDFs looks back at the last 82 years of S&P 500 returns compared to what an IUL crediting method would have produced over the same time period using a number of different caps and crediting methods. This worksheet is ideal for helping clients understand how IUL crediting works and also what kind of variation to expect over different time periods. Since we show some very low caps, it also helps them understand how low caps would need to go before their hopes of positive arbitrage using policy loans dissipates.
CASE MANAGEMENT WORKSHEETS
- SUGGESTIONS BEFORE CLIENTS TAKE THE PHONE INTERVIEW AND EXAM
- SEED MONEY SOURCES - REDEPLOYING EXISTING ASSETS
- SEED MONEY SOURCES - BUDGETING FOR SAVINGS
- CONDENSED INFORMAL UNDERWRITING WORKSHEET
- STEPS TO THE UNDERWRITING PROCESS
- CASE DATABASE TEMPLATE
Page 1 of this document helps you explain to a client through drawing how Pension Maximization using Whole Life insurance wins in 3 out of the 4 possible outcomes in retirement and ties in the 4th (assuming a properly designed policy). Page 2 of the document helps you gather info on possible cash flow sources and explains the unique supplementary benefits of Pension Maximization.
THE BUYERS DILEMMA
Use this worksheet to help clients get over the biggest mental hurdle they have to using life insurance for banking. This schematic helps explain why borrowing against a continually-compounding asset can help them get ahead of what they consider to be the holy grail – paying cash.
ABOUT BORROWING DOC
Page 1 of this worksheet helps you sketch out and explain how policy loans actually work and how they can be advantageous to clients. You can also use the same worksheet to show and explain the 2 different loan options available in an IUL policy or the 2 different loan types possible for a Whole Life policy. Page 2 of this worksheet helps you explain the many reasons why borrowing against a life insurance policy is far superior to a 401(k) loan in many ways.
COMPARING ASSET CLASSES FOR BANKING
This report has a visual grid comparing how different account types rank in terms of growth, volatility, taxation, contribution limits, and loan parameters. Each asset class also has a brief description and commentary as to how the rankings were determined.
INSURANCE AND FUNDING CONSIDERATIONS FOR BUY-SELL AGREEMENTS
This worksheet helps you ask intelligent questions of business owners or their advisors so they can clearly see the unaccounted for risks and opportunities they are missing in the realm of insurance. Filling out this worksheet should give you a clear understanding of how you can add value in this greatly under-served life insurance opportunity.
BUY-SELL DRAWING TEMPLATES (MULTI-PERSON)
Use these worksheets to draw as many of the possible outcomes as is relevant for the business owner. Be sure to watch both parts of the buy-sell webinar series to hear Hutch go over several ways to develop the buy-sell conversation utilizing this document.
As you can see there's just way too much value already, and we're just going to keep adding more at least twice per month.
Let's face it, if you can't get an ROI off this training, you're not really in the life insurance business, are you?
Most people find us because they like the way we simplify and powerfully position life insurance in a way where it's truthful and undeniable. You can too, but you don't need to reinvent the wheel. Click the quarterly or annual membership button below to join and get an immediate login so you can dig into everything you read about above right now.
Watch this short video touring our Members-Only Web Portal then click either button below to join today!
What are you waiting for? Don’t you think you could get a solid return on your investment from just these archived trainings and tools, not to mention what’s to come? We keep pumping out at least 2 live webinars every month where you can ask your questions. Don’t just look at what you have to lose…imagine what you stand to gain!
, CEO of Banking Truths
