All About Mass Mutual (Pre-7702 Change) | IBC Global
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All advice and/or opinions expressed in our videos are the result of our experience in the insurance and financial industries. Any action taken based on the information expressed in our videos is the sole responsibility of the viewer. All content produced by Steve Parisi and IBC Global Inc is made for informational purposes only.
#Finance #WholeLife #Insurance #MassMutual
![[10/90 Split] How Dividends REALLY Work - Illustrations vs. Actual Performance | IBC Global, Inc](/img/n.gif)
I like when the videos speed up... gives the feel of him being superman in super speed. Great video Steve. Can you do a similar video for Guardian?
I would think that's his plan for the Big 4.
Thanks for the comment! Appreciate it! Can do on Guardian. We have it scheduled to be released in the near future.
Great Job Steve good information.
Steve, that was a great video. The only depressing thing, is that you know a lot more than many life insurance sales managers. They are the ones responsible for training the agents!
Thanks Amanda! We have a training platform available for agents. I've included it below.
- www.ilstrainingacademy.com/home
Steve, great video as always! Every time you answer a question, I come up with 2 more questions. After watching this, I would like to see the same analysis for Guardian. I am interested in the flexibility of adding to the PUA during the year. Understanding the policy year limit (time to adjust), is helping to make decisions based on the purpose of the policy. I would be interested to see if I could borrow and repay loans at any time. We have some Lafeyette policies now that we can borrow and repay anytime. We've mastered borrowing but have to master repaying as well!
Just throw unexpected windfalls of cash toward loan repayments. That is my advice and that is what Becoming Your Own Banker recommends.
Thanks Stephen! Appreciate the comment. Lafayette does have an advantage in terms of PUA flexibility. We have a video on Guardian that has been produced, and set to be released in the near future.
👍
This will be a good video because I have a whole life insurance with this company
Nice. Great Company.
Now after watching your video, "All about Guardian", I can understand some of the differences better. I can see a use for each of these companies depending on the purpose it will be slated for. I have watched both of these twice each and gather more and more information each time.
Great to hear!
Great breakdown of Mass Mutual. How difficult would it be to switch whole life insurance providers?
Good question. A 1035 Exchange is possible as a means to transfer policies to another company. With that said, this does not always make sense (Depends on the situation). I've included a video below providing more information on this strategy.
- czcams.com/video/0UjFRG27hz8/video.html
Very curious that any business would limit the amount of money a customer will give to them. What is the rationale for Guardian and Lafayette Life limiting PUA(s) to $500k per year? Is that only in the situation of a 10/90 policy design or is that for all of their policies?
Excellent question. This primarily has to do with the interest rate environment. Stuffing a policy with PUA's accelerates the cash value growth (especially when looking at the Guarantees). In he present interest rate environment, insurance carriers are concerned about too much money allocated toward PUA's and taking advantage of their general account.
It is a love/hate feeling from insurance carriers.
- Love factor: They want the business and their policies become more competitive in terms of maximizing cash value.
- Hate factor: They know they'll have to credit the returns (Guaranteed & Non-Guaranteed) to policyholders. The low interest rate is concerning to them as they generate a larger profit on base premium dollars as opposed to PUA's.
More reasons than what is mentioned above. Let me know if this helps at all.
Thanks for watching and commenting! :)
What are the limitations on the direct investment in regards to the riders that you mentioned? Thanks for the info. Great stuff!
Good question. We'll have details on this in our membership and agent training program. If a Direct Recognition contract is selected with Mass Mutual, a degree of flexibility is lost in terms of PUA contributions.
Hi Steve, great Video and much appreciated! Some questions: 1) What about the compounded interest payment in the cash value portion of the policy, which is supposed to be guaranteed? 2) When the inflection kicks in in high gear and FED raises the rates, how would the interest and dividend rate of the policy are expected to react? Would they also increase or decrease? Were there any historical correlation?
Hi Joe, thanks for the comment. Good questions.
1.) Mass Mutual's Guaranteed rate is 4% (pre-7702 change). Cash Value will compound based on the company's present dividend rate. I've included a video that provides more clarity to this point. czcams.com/video/FdY1SdU-1go/video.html
2.) We would expect dividends to increase if interest rates increase. If assets become available that insurance companies can acquire to drive returns then we can expect to see dividends increase over time. The below video will provide some historical context at the 5:56 mark.
- czcams.com/video/MQ6ySRr8gJk/video.html
Hey steve you mentioned that you can have ailr and keep lisr out if you are not interested in flexibility such in the case of a lump sum 5yr funding. Does this increase the irr?? What does a MM policy looks like if you don’t need flexibility?
Hi Juan, good question. You can slightly improve the IRR with a Mass policy under the following circumstances:
- Funding a policy 7 years or less (This can vary dep.ending on an individuals age and what they are trying to accomplish)
- Flexibility is not needed.
Which company gives me immediate access to take out a loan between Mass Mutual vs Penn Mutual?
Good question. Both companies you mentioned grant immediate access to the cash value. You may have to wait 10 business days after making a deposit but can access it anytime aside from that.
Do you really know what is a cash value? Are you under impression that this is some kind of savings money in cash form? You are mistaken. I was mistaken too when my agent never mentioned that by building cash value it gives you a chance to borrow money against your life insurance policy. They never outline this and consumer is always under impression that they are earning additional cash income other than the life insurance premium. Total misrepresentation and lie. Just for you to know when you die your family will not collect the cash value amount printed on annual invoice. This is a virtual number and not a cash. If your life insurance policy reached to 250,000 ( for example you started at 200,000) and you have 100,000 as a cash value you don’t get paid 350,000. Your pay is only 250,000.
And if you borrow 100,000 before you die your pay at death will be 150,000 ( again there is no other cash value as you may think)
I did not hear from this video that the truth is being revealed here. The product is presented in shiny colors and they are meticulously masterminded to make you believe that you are earning dividends like in cds or mutual funds. They abuse our subconscious
Thanks for the comment. What you mention is a big problem in the industry. Below are a few videos that might be resourceful.
- czcams.com/video/OWpsECNcrjI/video.html
- czcams.com/video/nvo73JN45rE/video.html
- czcams.com/video/YhPFGbjt8do/video.html
- czcams.com/video/7fu9fZaFsdc/video.html