Your Family Bank

[DHK]

What program or programs are the real deal?

Insurance Pro Shop. www.insuranceproshop.com

And yes, you can actually OWN the system(s) - no renewal fees, ever.

 

[MrBob]

Insurance Pro Shop. www.insuranceproshop.com

And yes, you can actually OWN the system(s) - no renewal fees, ever.

I've seen reference to the insuranceproshop site before and wondered if it is as good as suggested, I will check it out again for sure.

Are there IMO's and/or who would be a good suggestion for where to seek contracts/mentorship/etc...to get this going?

 

[DayTimer]

So it seems like the idea of the program is solid but that this program is perhaps a marked up shovel salesman making all the money

I would agree. I would start by reading Bryan Bloom's Confessions of a CPA trilogy and David McKnight's Power of Zero. Learn what is in those books, really learn the material, and you will be able to start putting together an approach that will work for you.

Also, I haven't used this part of the materials, and @DHK could speak more fully and accurately than I, but for 1/3 the cost or so you get a very similar excel spreadsheet included with the Found Money Management tool kit from insurance pro shop. And you own that material - not lease year to year.

Ed Slott and Tom Hegna, while not banking strategy guys, might also help.

And Van Mueller is, imo, the master for understanding himself and being able to communicate to regular folks how the products we are licensed to sell can benefit them greatly while they are alive, rather than simply providing death benefits for their family once they are gone.

 

[DayTimer]

Are there IMO's and/or who would be a good suggestion for where to seek contracts/mentorship/etc...to get this going?

The Nasons will help you with the first 3 to 4 cases you do using their materials so long as you use their fact find with your client. After that, if you want additional help, for a very, very small retainer they will help you with every case you send them. Dollar for dollar you will not find a better value for the material you receive and the coaching they provide.

Also, if you buy one just one of Van Mueller's MP3's for $75 and subscribe to his $14.95/month newsletter and you practice his presentations and questions, you will get his cell phone number and he will take your calls and he will help you with no additional cost or obligation.

If you want to jet propel your education in using whole life as a banking strategy you can join Tom Love's The Breakaway League. Bryan Bloom is himself a mentor with The Breakaway League so it is a great opportunity to do joint work and learn directly from the him as well as Tom Love. It is $900/month and you agree to split 10 cases with them using their presentation and strategy. There are three hours of weekly training each week as well as quartley in-person meet ups with the group. After the 10th case they pay you a $10,000 bonus. As long you bring them 10 cases within 11 months you will get all your money back plus $100.

There are a lot resources out there. Many of the best producers are very generous with their time and knowledge if you don't mind taking the time to hunt them down lol. I have spend every waking non-selling moment for the past year studying these products and this business and the people who have helped me are an MDRT Who's Who ... and these are folks who may own or manage agencies, but they all continue to write big numbers off their own pens.

Van Mueller and the insuranceproshop is where I'd advise anyone to start. And there are at least 8 to 10 hours of free Van Mueller interviews and lectures available on youtube. One agent complained to me that so much of what Van says is repetitive. Yes, it is - and that is his brilliance. Like John Savage and Ben Feldman and Mehdi Fakharzadeh before him, the success is in a consistent message distilled to its simplest form and presented not as product pitches, but as solutions to problems.

 

[DHK]

I've seen reference to the insuranceproshop site before and wondered if it is as good as suggested, I will check it out again for sure.

Watch their live training & webinars for $30/month. Then decide if a system would be right for you.

https://www.insuranceproshop.com/insurance-marketing/

Are there IMO's and/or who would be a good suggestion for where to seek contracts/mentorship/etc...to get this going?

If you can run your own illustrations, you don't need any specific IMO to make these concepts work. They'll work with any company and any product that's designed for max-funded life insurance.

The Insurance Pro Shop does offer contracts, if you want them. Contact Jeremy directly about that - but I'd do that after you check out their training materials.

Also there's Postema Marketing Group. They've heavily promoted IPS methods and training.

Postema Marketing Group

 

[pfg1]

So it seems like the idea of the program is solid but that this program is perhaps a marked up shovel salesman making all the money...What program or programs are the real deal? Rather than the snake oil like dream in a bottle stuff, how does someone "really" get started implementing these concepts successfully?

Sure we can knock 100 doors and probably unload that last set of whatever it is we are trying to unload, but what's the "real deal" for this concept?

That's how I feel. I am not sure. I see huge potential in the insurance industry but seriously lack a great marketing tool. I did my best when I was working door-to-door for 2.5 years out in rural areas. But that got old and tiring being away all the time. I have since struggled with finding a good model to work sustainably.

The problem with any marketing/presentation/software system, isn't usually the system. That is just a tool. It really doesn't matter if it cost alot or was free.... if you have no actual prospects to use it on, you can't blame the system(s). I own COW, it makes zero money on its own, but has helped me make alot of money over time - and I don't use it full 100% like they train. Having actual prospects in the pipeline is the key to this business, not what tools you use -- or don't use and say won't work.

I feel like so many people have a constant unending quest for the "quick" solution to their pipeline woes. I know a couple folks that have literally owned every system ever sold, and hardly made much with them. Something new every year or two. Continually searching for the holy grail...

 

[wburke99]

There is a lot of Pro arguments on here as well as some naysayers. All these programs are simply different ways to conceptualize what WL and IUL policies are capable of.
The problem with these plans and they way many of them are sold is if the policy is not set properly from the beginning it puts a drag on the performance. (PUA, maxing out PUA before repaying loans, option B dealrh benefit for IUL, finding the right balance of term rider vs base policy, lowering the target premium, funding up to the MEC limit, etc as well as proper lapse protection)
These policies are very complex with all the proper options in place to maximise its purpose. Unfortunatley designing these the right way will often lower the agent commission and many agents arent experts in these policy designs.
The other problem is that if they are not designed the right way from the beginning, the client and even the agent wont know in the first few years anyway.
My advice would be to seek an expert in designing these contracts so that there are no surprises or gotchyas down the line. If something goes wrong and the policy lapses, you may have a tax time bomb.
If done properly, for the right client, and the right purpose, just watch those referrals flood in when these contract do what is promised.
Remember to always do whats best for the client and the commissions will follow. Win for the client is a win for the agent.