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[Music] hi james i was just wondering what are a couple of the top whole life and i will companies uh that you work with and would uh recommend thanks awesome all right good question so i already talked a little bit about the iul companies my my two my top two are national life and allianz and the reasons for that is national life has a really good cost of insurance there you just end up getting more insurance per dollar than most of the other companies they offer a flexibility that i can design the policies for very very low contribution amounts so it works awesome for kids it works great for anybody who is just just getting started and if you only want to put in a hundred dollars a month or 200 a month we can dial that insurance down quite a bit and you still get the same performance that any other rate does with a national life policy other companies some of them have a 250 000 minimum in order to qualify for their best health rating uh some of them have a hundred thousand dollar minimum that your face amount has to be is your death benefit that your face amount has to be in order to get the top health rating option if you go below that they either won't let you get a policy or they won't let you have the best health rating that can make a difference if you normally would qualify for the top health rating but they're just going to give you a standard health rating that can make you know over the course of 20 or 30 years that might make a difference of like 150 000 from what i've seen it can be pretty substantial so i like that flexibility in being able to offer as low as a twenty five thousand dollar face death benefit and then i can add in that cheaper term insurance i can add in up to 75 000 more so we could have a hundred thousand total with the special design that we do with the way that we design the policies so that it minimizes the agent's commission maximizes your cash value now with iul's what that means is that face amount is what the commission is based off of it's all based on term insurance but it's the face amount is commissionable term and the rest of it is not commissionable term it means we don't get a commission for adding in that extra uh death benefit for you you pay less because of that and your cash value grows quicker because of that so that's the key to those iuos iul designs with the national life i can do that at the bare minimum and of course they always on all their policies throw in for living benefit riders which are like pseudo-long-term care policies where they will cover you for terminal illness chronic illness chronic injury and critical injury that's a really really good suite of writers that they throw in on every policy and it allows you to access not just your cash value but your full up to your full death benefit prior to you actually passing away that is a great thing for allowing you or your family or your loved ones to do their best to actually have money that's available to try and save your life or to try and make it most comfortable if you have a very short time left to live they're not going to end up going bankrupt or be way behind on bills because they were unable to afford the hospital bills and the medication that you were requiring to try and stay alive and to try and stay comfortable and out of pain only to then get a death benefit after you pass away and then have to try and rebuild everything so that's the advantage of the living benefits most iul's only come with one or two living benefits and if you want to know more about that i can get into it later but that's essentially why not national life why i'm such a big fan allianz now the second one allianz has the greatest growth potential that i've seen along with the best guarantees and the lowest charges that come along with that you end up with some so iul's in general when it comes to trying to maximize your cash flow the risk gets shifted from the insurance company onto you the client now that comes with uh when they add in extra bonuses or when they offer extra bonuses they now offer asset charges that go along with that some companies will charge you just to access the index there's a one a big company one they sell a ton of iul's and i i don't know why i think it's just because they have a lot of sales people that end up talking to a lot of people it is not the best product out there but they sell the most of it and they charge you two percent just to participate in the index now they say they give you a guarantee of like one point seven five percent floor instead of a zero percent floor but then they charge you two percent just to participate in their basic index options so it's kind of a bait and switch in my opinion i don't like it um it's really not that great of a product other companies will charge you uh higher asset fees along with the bonus options that they'll put out there alliance it's a one percent asset fee for their best bonus option which is a 40 bonus option on top of any uh growths and then they also offer a couple of uncapped index options which you if you're willing to put in a little extra time managing them you also have the ability to lock in the rate you can lock in the growth rate on those two options at any point throughout the year so with that flexibility if you're willing to put in a little bit of extra time allianz earns the top top marks for me when it comes to growth potential so i just i'm in the process of starting a couple of allianz policies on my daughters if you've been watching my videos you know i've got policies through national life on my daughters i did that one first because i wanted to make sure that i've got those living benefit riders and that they're available now that i have my whole life insurance setup i've got the living benefit riders set up now i'm looking to expand my growth and i'm trying to do i'm trying to find products where i can i can take on a little bit more risk and go for the growth okay so there's your iul the top two i would say when it comes to whole life i would say guardian and mass mutual um whole life companies top two for infinite banking mass mutual and guardian there are two of the four major mutuals which if you've been on youtube you've probably heard of the four major mutuals steve parisi talks about them all the time and his videos are awesome ibc global if you're not familiar if you haven't seen those videos check them out me and steve are business partners not total business partners but we work together he's the one that got me into this showed me how to design those policies and i kind of ran with it so i work with ibc global basically when it comes to mass mutual and guardian i don't work with i don't go through them for any of the other products that i offer and i'm contract with a whole bunch of different companies so that we can figure out what's going to be best for your situation but mass mutual and guardian two of the four major mutuals we can design a 9010 split which gives you awesome cash value in year one guardian takes the top marks and if you've seen my videos on guardian you'll know why if you haven't seen it check them out i'll try i don't know if i can put a i don't know if i can put card links in here after the live stream but if we can check it out because i will put them in i'll put a card link up there for them but otherwise check out my videos guardian has the the best flexibility in all the whole life companies that i'm familiar with okay we can design them 90 10 split we can do monthly payments with just the base premium and we can have unscheduled premium payments for the whole rest of it so if i do a uh twenty thousand a year policy design i would set that up with a two thousand dollar base premium that comes out either annually or monthly for you meaning like 200 bucks or less a month and then everything you put in above that throughout the year you can dump in that extra 18 000 at any point throughout the year and that's a flexibility that basically none of the other companies offer in my experience so when it comes to choosing what policy is going to work best for you it's not just the dividend rate and mass mutual and guardian are the tops when it comes to dividend rate average they're the tops average when it comes to dividend rate oh i can pin my link in the comments it's off to check that out when i get a chance over the last 10 years or 25 years guardian and mass mutual are the tops when it comes to dividend rates so whether one is above the other i think they flip flop a couple of times mass mutual ends up beating it beating out guardian and i think every other company when it comes to the average for dividend rates over the last 25 years and they've both been paying dividends for you know 150 plus years so i don't look at dividends as the number one choice i go to flexibility because you have to have the flexibility to meet your needs when it comes to contributing to these policies that's going to be the number one choice it doesn't matter how great the company is if you can't get your money into it in a way that you need to so okay one more thing with guardian you can do electronic funds transfers and you can get your money in really quick i just put up a video this morning that shows you uh how to do a loan request and i talked i walked through all the steps and the what the documents uh ask for and what they mean it's not very complicated but there's some things in there that maybe you just aren't sure what they mean or maybe when you end up wanting to get a loan you want to be able to skip over them you can at least go through and i'll tell you what it what it means before you before you get to that paperwork but that loan took me three days so i put in the request it was in my account three days later that's awesome i think the time before that i got it in two days so it just depends um but two or three days is about the time frame that it takes for me to get money out of the policy and to put money into the policy it's been about two days with mass mutual the downside to them is they still mail you a check they're not doing electronic funds transfers they're not putting it directly into your policy and they're not pulling it out so mass mutual mass mutual still mails checks so when i get a loan out from massmutual both times that i've done it it's taken about 10 days to get the loan so less flexibility when it comes to accessing your cash maybe that's not the flexibility that you need the most in your policies massmutual does offer the highest dividend rate they also offer the ability for me to do a 1090 design that can extend out as long as you want to pay that in the policy so i can do a 1090 design that lasts 40 years or 60 years with guardian i'm limited to about 15 to 20 years it's usually about 15 or 16 years but i have seen a couple where i'm able to do enough insurance where i'm able to blend enough term insurance that i can make it last uh 19 or 20 years but the structure of the policy with guardian every time you buy paid up additions it burns off it replaces some of that term insurance and as soon as that term insurance is all gone you no longer can contribute 10 times the amount that's the limitation with guardian with the flexibility that it provides most of the people that i talk to and that's get into the guardian policy they know that they're planning on making either seven to basically from seven to a fifteen year premium payments and then after that they'll concentrate on other things or they'll start other policies with mass mutual you don't necessarily have to do that we can make it so that you can just keep going and going and going with that 1090 design so massmutual is great when it comes to being able to just keep those payments going for long periods and get that early cash growth there's other companies out there that offer good long term growth and you can have a nice split like a 60 40 70 30 80 20 split um but they're limited they don't give you that that early cash growth and the break even the early break-even years of like four four to five years so uh so those are my top two mass mutual guardian i do have a third one in there that's coming up strong and that's penn mutual i know there's a lot of companies out there a lot of agents out there that like penn mutual as their number one they have a really strong um illustration their dividend rate is really good still it's uh 6.1 percent this year which is only second to mass mutual there might be some smaller ones out there that might have a higher rating but we tend to just look at the top rated companies and they're also a top rated company so they've been around for over 150 years as well so penn mutual been around a long time they're a little bit smaller they're not one of four major mutuals just because of their size but it's a good company they've got a track record of paying dividends of paying high dividends um over the last 20 years it's been it's been really strong and we you know we expect that to continue they don't have the the flexibility that guardian offers there they basically have the um the same what do we want to call it the same strict guidelines around premium contributions that mass mutual has and in fact i think mass mutuals might be slightly more lenient so that's a downside that penn mutual has but you know we can get they can project out good cash growth if you don't need the cash value early in those first couple of years if you can get away if you can get away with an 80 20 design i can design an 80 20 design with pen mutual it can look really good with a 70 30 and a 60 40. those can all be good long term growth wise but the early cash value isn't so hot so that's a trade-off you get so that's why that one doesn't make my top two but they're in the top three because of that strong growth the history of dividends and also they actually approve their currently approving policies in as little as two days start to finish which is just amazing because most of the companies i work with you're looking at three or four weeks maybe two weeks national life i've had in about two weeks them do it but for the most part we usually see three to four maybe even six to eight weeks on some types of policies penn mutual as little as two days on some of the most some of the more recent ones that they've done which is that's amazing in my mind so if for some reason you like that if you need to get something passed very quickly i don't know why you would need it past that quickly maybe you just want it past that quickly penn mutual might be a good choice to go with and we can definitely get you illustrations on any of these companies this was a question asked and answered during one of our wealthcare wednesdays live streams if you have any questions leave them in the comments section below or join us on one of our wealthcare wednesday live streams where you can ask the question and we'll answer it on the air live i hope you found value in today's video if you'd like to find out more about iul and the whole life check out these videos right over here and we'll see you next time now go maximize your cash flow [Music]