 Hey, if you're new and you're selling life insurance, you need to know the difference between term and whole life I guarantee you'll learn something you didn't know by continuing to watch this video, right? I'm gonna do a life insurance explanation on term life versus whole life, right? You hear from others here from Dave Ramsey buy term invest the difference or you hear from a lot of file expense agents You know that well someone's later in their life and you know what because Dave Ramsey would say hey, don't buy whole life insurance Well, what if you're 72 you haven't planned before and you want to just take care of your burial and final expenses, all right, or maybe I've seen a lot of people stuff money away into a whole life insurance policy for later All right, you've also heard of IULs you've heard of a lot of different policies for life insurance, right? So I'm gonna walk through term life versus whole life. Okay, so first of all, all right term is kind of like I Want to compare it. It's kind of like renting Whole life is permanent Right, so it's kind of like renting a home versus buying home. You could use as an example, right? Because term can be for 10 to 30 years Whole life is Your entire life Right, you could also say that term is better if you have a Family You could also say that term is better if you have a lot of debt You could also say term is less expensive Instead of using the word cheaper You could also say that Whole life is better for covering final expenses or end-of-life expenses You could also say that it's more expensive Per thousand Dollars worth of coverage. Okay, you could also say that well Just a comparison standpoint and not actually explaining the agent side of it, right? There's there's because most companies Maybe would pay more for whole life than term Well, why is that if someone keeps a policy for their whole life? It's going to pay out right where you could say that you'll hear the statistics of well One to three percent of term policies actually pay out, right? Well if you needed to let's just say that you are Similar to make to my age. Okay, let's just say that's let's just say that someone is 30 years old All right, they have they have debt like maybe say that maybe say they have a home Right and they want you know, they want to cover some income because they're married and they have a spouse Right, let's just say that they wanted a million dollars in Coverage, right? I have a lot more than a million dollars life insurance and I believe most people should as well Okay, however, let's just say that was the case you could maybe get a million dollars life insurance for for 20 years for you know, probably 30 30 40 50 bucks a month and Maybe even less than that Okay, but on whole life you can't right. Let's just say that on a whole on a whole life insurance side. Maybe you're 64 and You want to get ten thousand dollars worth of coverage? Well, it may be also 40 50 $60 per month, but it lasts your entire life, right? There's Massive differences between the two. They're both life insurance and when I think about some life insurance Here's what I think about I think about one thing. I think about a consumer has a problem and Life insurance can be the solution now the problem can vary. So that's why I'm not a one size fits all I'm not a Here's your you know, no matter how well what's sickness you have here's a prescription Right. That's that's just not how I roll, right? I say They're both Phenomenal they both right because when I sell there's a lot of seniors that I may sell Whole life insurance to I've sold five hundred and five dollar a month whole life insurance policies I've sold thousand dollar a month terms, right to someone. Maybe that's 70 69. Okay, it varies and I think they're both Should be sold but they both serve different purposes Right. I always think that the the the easiest way to explain is I think if you need If you need a lot Of coverage Then I think term right If you don't have a lot of coverage if you don't if you don't need a lot of coverage Maybe whole life's the right choice Okay, if you ask There's a lot of there's independent agents out there that would that would that would differ on the types Of and they typically have a preferred preference, right? I don't have a preferred preference It'll matter to me or and I think because I started out as a captive agent, right? I started as a captive agent I sold both And I did what it was ever in the best interest of the client So that's the way I think about selling and how I explain life insurance term versus whole is I always think you know What it yeah, it's more expensive for a thousand. Yeah, maybe it's less expensive, but I think about it. Okay either way they both Are a solution to a problem that a client is having and it's our job as a life insurance Agent life insurance advisor life insurance field underwriter whatever you want to call yourself. It's your job To explain and put your clients in Whatever is the best fit right when we when we go through our fact-finding process We ask questions when I go to close and actually put someone in a plan whether it be term life or whole life I tell what we're going to be doing and what's best for you Right because the doctor doesn't say hey, do you think you should take this medication? Right. They say here's the medication you should take here's often you should take it Let's see if it's the right one Right, and that's how I think about when I'm selling insurance whether it be term life Whether it be whole life, right? I currently Own a lot more than a million dollars worth of term life. I don't own any whole life, right? But I've Helped a lot of there. There's also there's also there's also there's also a another Level to this that's from a permanent coverage. That's a lot more expensive that There's a lot of individuals out there that believe whole life is a is a obvious much better fit as a Way to fund retirement from a retirement vehicle and overfund a policy, right? There's people that use whole life for that people that use iul's for that, right? There's a lot of differing factors and I'm someone that says Every person is different Every situation is different every person you sit with has different problems every person you sit with Maybe some are married some are not maybe some have debt. Maybe some are not Maybe some want the most money coverage for the least amount of money. Maybe some Have a set amount of money of 500 bucks a month and They want a good amount of coverage and they want money to fund retirement Or maybe somebody's 79 years old and they don't have life. They don't have life insurance at all And they just want to fund final expenses or a funeral or cremation, right? That's where whole life can come in so at the end of the day They both serve a purpose they can both equally be As beneficial to your client, but the whole goal Is to do what's in the message of the client. So I want to encourage you To not think of one or the other as the right choice Because there's a lot of companies out there that would push a certain one, right? There's a lot of companies out there would say hey just like Dave Ramsey. Hey buy term invest the difference never buy whole life Well, what if someone never planned ahead or what if someone wants to overfund a policy for retirement or what if someone Want something that's permanent or what if somebody you know what already has term life See what I'm saying? There's there's variables Okay, so when you're explaining it to your client as I'm explaining it to you just realize that there's a solution for every single person No matter who they are All right, so we're talking about term and whole life. All right You say well, dude, I don't I don't know or I'm not educated and the whole reason that you're clicking on this video And asking this question right now is because you're not overly and you're probably wondering what I'm about to do right? Stay tuned. Okay, you're probably sitting there thinking. Okay. I I don't know enough All right, and we get thousands of questions a month from insurance agents saying I need to be better 92 percent of insurance agents fail, which is why I created something that is called success Society okay, it's called success society and what I've done with this is I have a secret Facebook group that most people are not a part of but you need to be Okay, other like my agents that want to succeed. They're in there. Okay. I also do a weekly training call Every single week you get me 52 weeks out of the year helping you be better Most fail most struggle we can fix that. Okay Also, you get access to a private event at Our 8% nation conference. You also get an initial Coaching call With me now for the time being and there's even more that comes with this the value is incredible You can get three dollars off leads right etc etc There's a lot that we have to offer in this program, which is success society currently As of this video It's only 497 dollars now. I can't promise it'll be that when you call in Or when you email me to get in all right, but do me a favor right now If it sounds like something that would benefit you, I don't know who wouldn't benefit Stop what you're doing And send me an email saying hey I want more information on being a part of success society because when you're part of success society We're sprinting to success together. It's you're a part of a society where I feel responsible For your success Hey, if you love this video and you want me better at actually selling this and pitching life insurance Then click on how to sell life insurance amazing. It's right there. It's amazing and I'll see you there First one's 50 000 for 110 30 000 for 84 and 10 000 for 61 Which one are you most comfortable? That's the close. I shut my mouth and I let them make a decision