Alright. You have begged for it. Whole
life insurance versus indexed universal life. I get it. You know what? It wasn’t
until it enough you emerged came forward and said, “I want to know what you preferred Kris.” That I said, “You know what? Let’s shoot a video on it.” For some years are
like, “What is this? What are these letters? What do they even mean?” Ultimately, we’re
talking about a massive debate in the world of insurance. You know me, I’m a
real estate guy, right? So, I funneled my money through insurance and then I
dumped it real estate. Some people say, “You should funnel into this vehicle
called whole life insurance.” And some people say, “You should funnel into index
to universal life.” Listen, if you don’t know what I’m talking about, you got to
watch the video stay to the end. I’m about to duke it out with my buddy because I
do not agree with him. Okay. What’s up Rob Gil. I wish
we could say that we are good as friends. But the reality is.. Dude, I don’t get it,
right? I mean I know they’re both valid products. But whole life insurance. I’ve
been using it for over 10 years. I put my money in. -Yes. -And then I take it out and
I dump it in real estate and I pick up multiple benefits. -Yes. -But dude, this index
universal life stuff is tied to the stock market. So.. Yeah, can go up higher but
dude it can take it go down. You can lose money. -Well you can be broken even. You
could cap the floor at zero. -Dude who wants to be broken even? I got my money
as eroding right now at the rate of inflation. -Yeah. So for us, when it
comes to the IUL compliment… -Are you saying us to feel like there’s many
people on your side when it just looks like it’s me? -Yeah. These guys stand with
me. -I’m just so… So, all you good folks out there. So, with the IUL, if you complement
it with whole life in certain situations based on your financial support… -Does it mean you’re retreating into my camp right now and you’re actually walking on index because you’re
going to pair it up? -Well what I like to do is be able to show all the
good folks out there as they begin to step into a different space of greatness.
-Right, right. -And this is a conversation we might absolutely why the lives but
being able to use the IUL in times to complement your whole life of the
markets going up 15, 20, 30 percent, why not be able to grab 8 or 9 percent on the policy… -Yeah, but what happens.. What happens when the market
goes down? -It’s a good question. -No, answer it. -Good question. -Answer it. -Usually depends
on the carrier. -Come on dude, lay it out. Don’t pussyfoot. -So, if the market is
down 5, 10 or 20 percent, you’ll be down maybe one percent or you can block it at 0%. -You
can put it down to 1% or 0%. -So, listen. You got to ask
yourself, right? Like, I’m just going to tell you where I’m at. I don’t really
believe in investing in insurance. I just want the benefit of it to help support
my other investments. -Okay. -So, when you do an IUL, you’re basically saying, “Actually
I’m investing in the stock market. Actually, I want higher… Like for me,
insurance is an investment.” I’m like, “Alright. I get that.” For some of you might
actually be. But dude, there’s some downside. Don’t you want the steady-Eddie?”
-Kris, you are confused brother. Let me just tell you that right now. Because at
the end of the day, when it comes to premium finance strategies and you use
your indexed universal life with whole life, instead of doing just
stay planning where you put your life insurance into a trust, you can now
create a tax-free distribution strategy on your exit from age 60 to 80, 70 or 90
by complementing the IUL with the whole life. -Explain that to me. That’s new to me.
-Yes. So… We’ll we do some premium finance strategies. You have to have a
certain level of net worth. But in that space, the bank pays the premium. -Okay.
-Right? And the insured pays the interest on the loan from the bank. -You’re kidding
me. -Yeah, 100%. -Hmm. -Right? If you do that over time, after maybe 12, 13, 14 years, it
depends on the product. Depends on how you structure. You have to pay through
your cash value. The the bank back the loan. -He’s fighting dirty right now. I
thought I knew everything about this. Right now I’m actually like… I think I
need to learn a few more things. That’s kind of cool. I didn’t know that. -Yeah.
-Just in general though, the idea of having an IUL go back to zero or one
percent. -Yes. -And it’s like… I think people have to ask himself, “What am i investing
in? Do I want my… Am I counting on what I’m gaining from the insurance company?
Or is this facilitating my investment or is it some of both?” I mean for me, I just
look at everything all the dividends I get on my whole life as a benefit
because really I don’t care as long as it’s facilitating my investments.
-Remember, you still get a guarantee in the IUL.
Right? So, there is a guarantee there except you could tap in on the upside of
the market and add the protection on the downside. So, in the end, when you can
pair the both… -Brings it back to zero and one? -Yeah. But you’re in that scenario,
you would assume that the markets down 10 years in a row and it doesn’t work,
right? But if you have a market that goes up and down but it’s always trending up
and you have a long term view point, nothing is short-term. In that space, you
can take advantage of the up market. Now, what I will say is I’m whole life, I love
whole life first and foremost. But as a compliment with an IUL, there’s a lot
of value in there. So, I just signed a freaking huge
double-digit policy on whole life. Should I be adding some indexed
universal life? -The next policy we’re going to have to bank pay for it. Kris
Krohn will have an IUL policy inside… -No, no. If I do
that would mean I’m eating a lot of crow. And pride will keep that from happening.
But the bank’s paying my premium? -Yes. -What do you mean by that?
-Oh. You going to eat the crow? -Yeah.. No! No! I’m not eating the crow. I’m curious. I’m just curious right now. So, what
the bank will do is… You know, let’s say it goes from your average… Let’s say your
premium is 100,000. -Okay. -Just throw that number out there. And now, all
of a sudden, we’re going to buy a death benefit. That’s 50 million. -Okay. -Because
you’re that person that’s accelerating. -Okay. -Somebody like you. So now, all of a
sudden, the premium to maintain that kind of coverage is 500,000.
-Okay. -But you’re building… You know, you’re building everything that… You build them
so you want to dump your money back into your business but you want the proper
coverage. -Yes. -So, what’ll happen is the cash value is
collateral to the bank. The bank pays the premium and they’ll do that for
12 years. So now, you have the big-ticket item life insurance which
gives you the ability to buy all those different bills. -Yeah. -Did not know that.
Dang! You’re smart. You’re too smart for your own good. Friends, today we’re
talking about the difference between… -I think we just got another policy out of it. -I think you did. The last was costing me like an arm and a leg but I won’t put it back in real estate. So, it’s
all good. -But now this little disclosure interest payments. -Okay. -Yeah. -Alright. So,
listen. I don’t know if you’re any clearer right now. I’m feeling like I
need to go back and retract some statements and I think through a couple
other things. -My only concern is when he comes back to me, he’s going to come back
with bullet points and we’re going to have to take this to the next step. -Probably. Listen, I’ll tell you this… I mean, Rob and his team, they clearly know
what they’re talking about. They’re incredibly experienced. Took me a decade
to find this team to actually run and own and build and operate all my
insurance needs for my company. And now, doing it for a lot of other people as
well. So listen, if you’re looking for saying… “Wait.” For some of you, you’re
super savvy and you got what we just said. Some of you went a little over your
head. But here’s the bottom line. Bottom line is when you’re going to save money
and then put it into an investment or an alternative investment,
you always have an option of directing it first through insurance. Whether it’s
an IUL or if it’s whole. And when that happens, you pick up more
benefits. We’re arguing about which and how many benefits you want to get and
what’s the best way to maximize the Bennie’s. And if you want to know, it’s ultimately going to be customized to you personally. So, if you don’t know
what that looks like for you, there’s a link below, reach out to Robin and his team.
They’ll actually do free consultation. Actually
work up a bunch of options and actually demonstrate what an IUL would look like.
What a whole life policy would look like and ultimately what it looks like to
funnel that and leverage that as a vehicle to enhance your alternate
investments, real estate, anything else like that. -Can I create one little
creative distinction? -Yeah. So for all the good folks out there, an IUL is
not a variable life insurance policy which variables actually that is
invested in the stock market. It doesn’t have any protection from the downside
and there is no guarantee. This is not a variable. -Yeah. -This is an IUL. -Now, you
have key distinction on that as well. Friends, thank you so much for watching. Rob, dude. Thank you for being here. Thank you for duking it out.
-You just broke a bunch of bricks yesterday. -Yes, -Wood. -Yes. So, listen. If
you’re not a subscriber, fix that right now. I’m going to march over your freaking
house and we’re going to… *Haya!* Make sure that you smash the like
button. That tells YouTube that this is worthy of sharing. Do that. And otherwise
we will catch you on tomorrow’s video. Get with Rob and his team. Get
financially savvy. We’re one phone call away. Make it happen.