Best Term Life Insurance With Living Benefits – A Term Life Insurance Policy With Living Benefits

Best Term Life Insurance With Living Benefits – A Term Life Insurance Policy With Living Benefits

Video Transcript

welcome to intrinsic motivation from a homies perspective podcast where we meet experts from all walks of life to learn their intrinsic motivation so that they can share it with the world what do we have in store today stay tuned morning evening good afternoon everybody out there in podcast land you are in tune to another episode of intrinsic motivation from a homeys perspective this is Hamza and I am Davis and we’re going to take a little turn today in our podcast but I do believe it is part of intrinsic motivation because if we look at a linear best-case scenario we live our lives and then when we slide in the home base when we’re old and elderly we have life insurance that would take care of us and in many cases there was a recent settlement that was a big win for insurance companies and a big loss for policyholders and fortunately for intrinsic motivation from a homies perspective we have the insurance doctor he’s going to talk about what it means for to be an average policyholder how we were affected by the COI settlement and what we could do to protect ourselves so without further ado I’d like to welcome David Cutler to the podcast welcome David thank you for having me absolutely yeah thanks for being with us David and n I thought it was really important to have you on because in the best case scenario we all can live to our ripe old age of 150 in many cases that won’t happen and we would think that our life insurance that we have would have us cover four family members it in many cases that isn’t the case so I like for you to talk a little bit about on your background in life insurance and we can dive right into the details sure and by the way I know you might have been being a little facetious with 150 but a good friend of mine is actually part of a longevity Institute and today how many people take a guess are over 100 years old today in the womb in the world a percentage no just give me a number is a number a finite number of people that are over 100 years old okay hmm how do you say nepeta yeah how about over a hundred I would say 50 50 over 100 you would say 50 Wow worldwide yeah maybe whoa just gotta do something we don’t know about so if you say worldwide I don’t know I’m living in Florida oh yeah yeah David David need for him some more intrinsic motivation you think it was only 50 okay I’ll take I’ll take a stab at it David so there’s this there’s this blue ocean theory and they talk about Mediterranean diet and all that so I would say around 300 plus 300 people at on the lower I got good news for you okay Oh perfect perfect that are over a hundred years old how many hundred thousand hundred thousand Wow what we were way off I didn’t get to the good news what do you think is projected how many people will be living over 100 years old 20 years from now oh it’s going to go up with the technology so maybe 300 300 thousand we’re going to be robots okay three and a half million grown up 35 times is the projection Wow okay and so this you know I mean it’s a pretty fascinating concept and I think they have certainly people you know can and will live longer and you know part of the reason for that huge increase projected is you know the enormous amount of baby boomers that are now coming of age you know that are very concerned about their health and they do better things and they you know do a variety of things so that they are living longer medicine is better etcetera etcetera so when you talk about will my life insurance be around when I’m not I guess the question becomes even more important to think about it and as I was discussing with you you know just briefly before definition of insurance is shifting the risk you know it’s sort of crazy even when we’re young and you know you’re you most everybody’s got car insurance most of already’s got home insurance but you know what what are your most valuable asset is really your health your health and your you know your future earning potential you know for the rest of your life and that’s why it’s so important I think for you know we were talking about what age should you start being concerned about insurance and if you want to inch you know if you want to ship the risk to the insurance company that even if there’s a health change you’ll be able to have a permanent insurance policy in place there are very inexpensive options to buy is what we call term insurance it but you have to be very careful that it gives you the ability to convert it to a permanent policy at the end of the term for which you’re buying it for regardless of any health changes so that is a way of shifting the risk on your continued good health you know before that point when you could quote up quote-unquote a for permanent insurance yeah I want to go that makes sense that make sense issue I mean there’s a lot of questions just in that just just to kind of look at it from a historical standpoint and I was thinking about Social Security and when it was it when it started I think it was the late 30s early 40s and the life expectancy was 62 and you know they because they didn’t think the life people would the majority of people would reach that life expectancy and so now you’re talking about 3.5 million Oh or that’ll live to be over a hundred years old right you would think for insurance companies they don’t want a lot of payouts so what did they do to kind of mitigate their risk as well well one thing I can share with you as I chuckle is you don’t have to worry about the insurance companies because guess what there are a few steps ahead of the consumers matter of fact if you think about it if you ever been to Manhattan yes no okay San Francisco yes yes hot spot Boston yes no Philadelphia Chicago the reason I mentioned all these cities because if I asked you who’s got the biggest buildings and every one of those cities the insurance companies there are pretty adept as staying a step or two or ten ahead of the consumers and you know this is why I get so much enjoyment out of sharing knowledge to help consumers of you know get what they pay for and make sure they’re not overpaying and make sure that you know that hopefully that insurance is in place what they needed to be in place sure David so one thing I think about it if you’re saying that the buildings are so large and I’m going to put on a tinfoil hat for a brief second and then I’ll take it off so my question is that there’s some so much conflicting information out there about you know the the poisoning and our in our soil and our food is not natural and our life expectancy is going to be cut in half but you have research that’s showing quite the opposite so would you say that they’re using a third-party Proctor to put misinformation out there so people because your mind is so powerful if I think I’m only going to live to sixty two then I start checking out maybe at sixty-one you know that’s a great point and that’s that’s what my friend that’s what that’s his whole mission is to have people realize that you should be shifting into like from second to third or third to fourth and your 60s as opposed like downshifting you know to put it in automotive terms to to address it and said I’m just not familiar I mean listen there’s always been and always will be scare information and scare tactics but and even though and maybe in the last two or three or four years is going to slight change in what I call mortality expectation or longevity expectation and that’s I think in large part due to the opioid crisis you know you’ve had so many so many people unfortunately overdosed and died and it’s just you know it’s a huge huge problem enough to where it’s slightly impacted the average mortality but for people that are educated people that have access to doctors arm you know the I would say today’s average life expectancy for a female as in the mid 90s and for a male in the late 80s early 90s now that’s that that would be based on if you were healthy at age 50 or 60 you know there’s certainly you know things are going to affect that but I’m saying in general for people that are educated and have access to good medical resources you know the average life expectancy is way way more than it was even ten years ago 20 years ago 30 years ago and that’s why what I’m going to share some other I think startling statistics with you it just becomes so important for your listeners and all consumers to be educated to the pitfalls of not having your coverage last as long as you do but let me let me start sort of painting the picture of where we fit today and part of the reason why all these big building are doing well and let me step back a minute and let you know that I am a firm believer in life insurance and I own life insurance I myself it’s just that it is like it needs to be handled properly okay um okay so here’s here’s the core here’s a question for you because you did so well on the guests on the people over – I’ll give you I’ll give you a chance to repeat yourself give us a mulligan please thank you a double Mulligan okay what club savage of policies do you think laughs in other words they terminate or one of a number of reasons before maturity maturity being defined as death of the insured determining example girl then um what percentage probably I don’t know half I’ll just fill it fast okay yeah I say I say it a little higher just because you were talking about the projections and mortality expectation I’d say 60 yeah what’s about 90 percent Wow ninety percent and by the way that has nothing to do with these future mortality projections leave your policy that are currently laughing like flies you know so here’s another startling statistic I I don’t know how many of your listeners are seniors that’s the demographic I ordinarily work with but here’s a wild question what what does a dollar dollar amount of policies owned by seniors that lapse annually every year the face goes overseas to death benefit amount it elapses time let’s go put it at that I’ll give you a hint it’s a big number yeah oh well okay let’s factor in dementia and Alzheimer’s so I forgot I had us okay insurance so yeah I put about ninety ninety-one while you do but what okay okay that’s good 94 94 was 94 pretty good this is this is a salary I got a percentage of the dollar amount ow oh oh my goodness oh my goodness that’s why we’re that’s why they have the biggest buildings in the middle of the city but what do you ever thought it’s a crazy salary god you could be a dollar a dollar amount of face benefit the glasses 150 150 million 150 million yeah let me give you let me give you a hit it’s in the billions oh there’s 50 billion how about that exactly be 70 billion Jeremy that’s with a capital B 70 billion okay well I’m a imagine if 25% of those policies yeah because I’m in the business of helping seniors monetize or sell their policies if they don’t want them they don’t need them they can’t afford them they’re not performing as expected for a variety of reasons there’s a third party market which we access you know people like Warren Buffett you know large hedge funds institutional buyers are interested in buying these policies but imagine if even a small fraction of that seventy billion dollars could returning the money to help these seniors with their increased longevity expenses with their health care expenses with their like I think if they want to make but the families they might want to leave money to I mean it’s an amazing waste of money amazing waste of money now you’re our anchor speaking when you talk about I guess the u.s. you know for the most part you don’t want to get pulled over so you have to have car insurance like there’s no sense of urgency to get like insurance and as we were talking before we recorded I’m in a business group and the gut in the gentleman there was talking about 40 so kind of walk us through the process of starting with term and does that graduate to whole life or what would be an ideal scenario for for our listeners and for for me and David just to be selfish yeah and to quickly at the end to add to that can you maybe explain the difference between turn and lowlights and shares certainly certainly unless I’m gonna make it simple because there’s there are three or four types of what we call quote unquote permanent insurance or policies which have the ability to be kept permanently if they’re if they’re handled properly so to make it simple I’m just going to I’m just going to separate it into term and permanent as opposed to the three or four types of permanence that exists so it’s all it’s all affordability I get it when you’re younger on the other hand I’ve seen too many instances where young people with like two three four children and they don’t have coverage and they pass away and it’s a horrible horrible void of course in the widows or the husband’s life but but there’s you know monetary realities which could have been what the risk could have been shifted and that this is where term insurance comes in when you can’t afford permanent insurance you what you can do is purchase term insurance which is convertible to a permanent product because in my opinion you always want something which you have the option of keeping permanently and you want something which your protecting against a change in your health you know most people are very healthy in their early 20s I would recommend that the people buy it maybe even before they get married maybe they’re getting married in the early 20s you know then you start having children and and it’s so inexpensive to start and you could buy current policies that literally last 30 or 40 years where they give you a stable price they will charge you one flat price per year per thousand dollars worth of coverage and that price will not go up for the period of time and then at the ends of that period of time I guess check the fine print get some expert advice you have the ability to convert that to a permanent product so in terms of sequence that would be one recommendation that I would certainly make because if we we talked about it what is your most valuable asset is your health in their earning potential and you’re going to spend a lot more money on car insurance and property insurance and you know travel insurance and crazy things and ignore this at your peril I think it’s just it’s too important to ignore one thing David I’d like about comedians is you know they they make us laugh but they always have some little nugget of truth and there was a comedian TK Kirkland and he was talking about those that were in gangs so if they were gang banging they he was saying that their parents should get insurance on them because they’re in a high-risk employment and the untimely demise at least the family’s taken care of it’s not you’re about not sure about the underwriting issues on that IMATS offset but will we have another day more as long as the moral of ethical issues of wanting to potentially benefits of your child’s demise yes yes yes the sort sort of the reverse of the normal course of family protection right exactly exactly but there was a recent Transamerica COI settlement and you said it was a big win for insurance companies so it gave and and I you know you blessed us out of the water just on our lack of knowledge for insurance policies lapsing and dollar amount owed by seniors could you talk about the settlement and what it means to the consumer sure sure it’s another example and again you know there’s a lot of very fine insurance companies um so I don’t I don’t pin it and again I’m a believer in life insurance as long as you’re dealing you know with reputable companies and companies that have a better track record of protecting their insurance you know Transamerica I felt was very sort of out of bounds and significantly raising mortality costs now an insurance policy if you buy a permanent Powell field may be very try to make it very simple there is free compulsory moving components to a performance of the policy one is the amount of crediting that they’re going to give you on the cash that you put in the policy right so one of the credit some percentage of interest or some investment component that you’re good that you got in the policy the other two were what we call sabbath’s or expenses one is the mortality cost which is the annual cost per thousand of insurance and the third is you know the company’s expenses and administration administrative costs and as you can imagine you know as those things go up or down is going to perform is going to sorry impact the performance and you know either the policy will perform better or worse never exactly the same as a projection because there’s a lot of moving pieces so of mortality costs is a pretty big component to the performance of a policy and as we’ve been discussing our mortality in general is gaining other than you know a little blip because the opioid thing it’s gaining and it will continue to gain because people are living longer okay so if you think about it if people are living longer is that good for the insurance company or bad for the insurance company bad no it’s good if they’re living longer because it gets more paid to get larger payments yeah they’re they’re taking em um and they’re paying out later right yeah yeah okay okay you’d think it would be good but yes Transamerica have the opportunity because they want they want to do they want to make more profits so they put this huge increase in for mortality cost and that has been some instances that the cost went up 2 3 4 5 8 times what they were he Wow dinette good yeah so this is what’s leading it one at one example not by any means the only example but one example of why so a policies are lasting uni so what happened was you know there were some you know you always get pretty sharp attorneys circle around they smell a lawsuit a class-action suit and you know I’m saying they did it for for certainly for with good intentions if they want to you know provide some protection for consumers for insurance and you know there was this really a legal question as to whether how much how much can they raise the cloth and all these contracts are very very as you can imagine difficult to interpret they’re pretty complicated but you know they do have certain boundaries and so they were within the boundaries because they have very high boundaries built in as to what they can raise the cost to but generally the issue is can they can they just raise them and discriminately or because they feel like it or can they raise them based on a bad experience in other words people the class of people that are insured are dying much quicker than what was projected ii and here we have the reverse people are living longer so you can see why there was a lot that clear why the loss it it is and not I would also think about this week right with the Dow just plummeting and yeah when you’re talking about this the market where people sell these policies that would also be impacted severely wouldn’t you think well I guess that’s a great question I guess is that the marketing and the reason why people buy them but so to go back to this lawsuit so what really would have been a full recovery for the consumers would have been for the courts to say hey guys you can’t raise the prices as much give them a credit and lessen maintain their policies that would have been a really big win for consumers but yes yes the courts didn’t do that the course allows a very modest recovery against the charges that had been put in for the policies but did not prohibit the companies from continuing to charge those vastly increase mortality costs going forward you live in the wonderful world of Florida and that state usually determines who the next president is going to be in you I don’t maybe because I’m not that of that age but I don’t hear any candidates talking about that yet it seems like it would be a huge huge issue to decide that I’m going to choose for the next president you mean in terms of somebody protecting seniors you move it exactly yeah it’s a silent I mean I say you know I saw with my mother it’s a huge huge problem that you have quote-unquote legitimate companies and you can I can forget about all the scam companies that are out there and they’re just any attorney they’re just taking advantage of seniors and it’s pretty heartbreaking to see what goes on you know but it’s you know we can’t cure every ill but I feel good about being able to help seniors be able to get cash out of their policies or get good advice as to what they can do all they need to do is go to my website which is life insurance PR not doctor but er comm life insurance VR calm and there’s a lot of information there as to how they can actually calculate the value of their policies by putting in a little bit of information it’s like a Geico calculator within a minute you get a value as to what that policy may be worth the help of people that are out there and even for your younger listeners their parents may have policies so this is certainly pertinent for all ages to help them help them with drugs with getting cash to help them with their expenses to help them do it and things they need to do or to help them deal with problems like when you have these companies that are I think unfairly raising prices or not giving accurate information and contributing to this high ratio of laughs policies versus policies which which are meant to last until that until maturity and I’m glad that we have someone like you as an a senior advocate we had a guest not too long ago and she was talking about the opioid epidemic in the state of Florida and how you know the doctors are just companies in general they see that yellow brick road and they take advantage of the consumer where you have these huge what you would think wouldn’t happen but human nature just seems like it’s a rush to the bottom when when money is involved so at least we have a navigator to it yeah yeah no too often it is and you know it’s fast it really is fair these are people that really are not necessarily able to protect themselves or being taken advantage of and that’s that’s never a good thing yeah I wonder ask you days so how much how much do the insurance companies kind of count on people general public and being ignorant to how everything works and maybe all the coverages that they need well great question I mean your courses you know these guys all have very sharp actuaries and all this stuff so I’m sure that in their pricing their building in um you know some of their past experience you know and that’s why some of the companies are make it difficult uh you know for what we call life settlements that’s life settlement is the sale of a policy to a third party therefore again whatever reason the person doesn’t want to keep it can’t afford it doesn’t need it it’s not performing properly they need the cash they make it a little difficult for the people to get the information to become aware of what they can do but it is certainly something that people are well within their legal rights to do there was a lawsuit back in 1906 which ruled that life insurance is the same as a stock certificate the same as a house it is a piece of property and it is transferable to a third party so the consumers and the children of the consumers that have these policies needs to be aware that they have choices and that they need to educate themselves arm as to how to how to best navigate the market that’s out there and maybe it would be helpful if you want me to explain why there’s a market out there and how it came about and the various ways that you can get to it would that be helpful absolutely go for it okay so about 20 years ago about 20 years ago there was a very smart person in the industry and at that point in time the only choice that a policy owner had was to turn the policy back in to the insurance carrier that actually wrote the policy and they would be limited in recovery to something called a cash surrender value so in other words whatever cash there was in the policy at that point – whatever surrender charges might exist or not exist at that point would be the sum total that they could get and this person said wow you know this is really unfair to the consumer in terms of not having a market to find out what’s the real value of this policy that is a very depressed number what you’re going to get because most of these policies will fall behind people are assisting that they might not want to keep them usually have very minimal cash to them so a market was developed where and again big institutional fire you know it’s not recommended for the individual consumer wants to buy a policy and grandma because you think she’s going to not live or live but people that have a lot of money and for the following kendama captures decide that it would be is it’s a good investment so over these years as interest rates have become lower and lower in terms of what’s being offered in the savings account or what you’re being able to get as an investment you know people are looking for where can we put smart money and if you think about a life insurance policy what’s the likelihood that someone’s going to die boy the likelihood that someone will you initially die has pretty good pretty good right yeah Auto percent right right into say yeah okay I got and then what you’re getting better on these percentage questions what what’s the likelihood that the company will pay the death claim assuming it’s a you know it’s a highly rated company right um there yeah it’s 100 percent yes what is it yeah it’s not a health it’s not like a health claim or they’re going to fight you you know if you’re dead you’re dead so if you got the policy you can prove you got the policy you’re going to get paid on it so from that standpoint it’s an attractive investment what you don’t know is how does the math work is it going to be profitable for me or is it I got to lose money on it and if we’re a rather you know sophisticated set of statistics and longevity reports and analyses of the policies has evolved to where you know the buyers have a fairly good idea or you know a guesstimate rather of how how well the investment will perform and when you’re buying in large numbers you know kind of Cordray have your white hand from your blog on some but you’ve got two components out of the three that are definite you know the insurers going to die and the company will pay off if the policy is enforced when they die and and so as a result of this you know business was started about 20 20 years ago become a very large business I think about a thirty billion dollar a year and transactions annually and you know there’s a lot of it’s very consumer friendly I think in 40 out of the 50 states in the country it is it’s monitored by the states there they’re you know they’re they’re in favor up there all favor of it but that you know there are rules and regulations that have to be followed so it’s it’s very consumer friendly and you’re doing something to eliminate this tremendous waste of these lapse policies that laughs with no value now at the point where a person might want to say gee I’d like to investigate what is my policy worth in my opinion and it’s not just self-serving because I am a broker but I think if you don’t take the policy to the entire market in other words let’s say there’s sort of like a liquor license in most states there’s maybe 20 liquor license or sort way portals you can go through companies that have to get registered stay compliant but there may be a hundred buyers going through those 20 portals right yeah in order to get the highest the best value to the policy it’s just common sense that you want to be able to shop it to the widest audience to try to get the most people interested to try to get the best price for policy and today there’s three or four very major companies spending millions of dollars per month advertising they can quote-unquote help the owner of the policy sell their policy but it’s sort of like going down into a little you know little pass where they’re not going to get the full market exposure the buyer isn’t even able these price they can pay because people aren’t going to be aware that they might have much higher value you you know what I’m getting you I’m saying oh yeah so we put a calculator into our our website and we actually actually yeah on our website we show how later values the policies and when you rub them against the other calculators we’re generally twenty-five to fifty percent higher on the values we feel we can get for the seller versus so many other companies that are shopping a very limited marketplace or solely working on behalf of a unitary buyer one buyer is buying as their advertising get these policies but there’s a lowball they’re going to pay the minimum they can let me as you’re talking to me think of a shock jocks in the 90s when they were talking about life expectancy for certain celebrities you know and it sounds like this has been legitimized symptom has been the Third’s in this marketplace oh yeah yeah but let me ask you with this with this marketplace as you were saying as in an ideal scenario we use the worst-case scenario if I’m a gangbanger right but if let’s put it at the other end I waded into I was 70 to get life insurance like how what percentage in the marketplace are those that were late in getting life insurance versus those I got it earlier in life you know I think that says people generally buy life insured people that are buying life insurance a lot of times our multiple buyers or buy a policy then they’ll say oh it’s not working well buy a different policy or my needs have changed or whatever arm so I would say that the older you get the more expensive it becomes um but on the other hand depending on what’s your life expectancy may be you know your family is going to be collecting on it sooner than somebody’s devices in the earlier age so it’s it really it really takes you know an individual consultation to discuss with the prospective buyer where your needs why what do you what do you do you know what are your preferences why are you buying it you know are you buying it to satisfy a charitable bequest are you buying it for your family are you buying it for spousal income you know you just really have to get into those they buying it for state taxes you have to get into those types of questions and then devise the best product to meet the needs the best way and we were talking about help to the higher because the the help dwindles or you know there’s some people that I’m going to get my act together but I’m like 68 years old and I’m finally going to eat broccoli so that does that factor into that cost well madam I don’t I think I think it’s just it’s just that if you’re 68 your life expectancy which is what the pricing is going to be based on is going to be many less years and if you were 48 you know you could be very healthy and you could be very healthy at 68 and it could still be a very good ah acquisition you know I better than death I think I hesitate to call it an investment again I call it really shifting the risk you know there’s so many reasons why you might buy life insurance if you’re a business owner and you add her four kids you had two of them in the business and threw them out of the business I could pay from experience you’re really better off not having owners and equipment that are not participating in running business so you know there’s there’s so many reasons why insurance makes sense but really the whole crucial question is having expert advice as to what you’re buying and how to maintain it so that it doesn’t fall into the category of 90% lance’s II but you talk about the business owner and unfortunately this week Miley Cyrus broke up with her her life partner how often do you have someone trying to turn in that policy but it was the first white Butner already on the males already onto the second or third wife how often does that happen oh the owner is there what really is a funny question it would really depend on who owns the policy you know if for example Miley owned the policy on him could she keep it you know is there going to be some kind of settlement oh yeah you have a lot of questions is yours just bring a celebrity to it because you know we’re talking about something that some families don’t talk about until it’s too late and you know it’s something that that should be covered and what’s the best way to approach family members if they aren’t talking about it but they factor like you said you could be 20 and get life insurance but let’s just say they’re in the 60 70 year range and they don’t have life insurance what’s the best way to educate them well you mean if you’re a family member or if your insurance yet here if you’re not so okay if you’re a family member that has the insurance well here’s the guy right here you stand right behind me as a family what’s that if it was a family member to talk to an insurance agent what’s up but I are you are you saying if you’re the child of somebody that maybe should have insurance you don’t know yeah I am yeah I work with a homecare business and I hear these scenarios all the time and like you said you’re in Florida so you probably I’m sure you hear it a lot more than I do but it is something that if it’s not once all for once in a blue moon it’s a regular conversation that us in the Sandwich Generation are having or need to have with older family members what I I think I think you absolutely do and I think it’s a conversation that can be brought up in a nice way which is really protective of both sides of the equation is you know you know you don’t want to pry but you you know you want to maybe know so maybe an entree point is you know I just heard something interesting and there’s there’s so much waste in life insurance policies that laughs from there’s opportunities to actually get money for these policies you know arm they just wanted to make you aware of it because I don’t know what your situation is with it if you ever folks you can’t afford it or if you have it or why’d you buy it it opens up this dialogue because those people that are in the middle you know you care about you know the ill to the elder generation living out their lives grace armed and not wasting assets and so that’s that’s why it’s pertinent to bring it up I think as the middle generation that makes em numb it makes total sense and it will be good for us just to kind of send that out even this podcast out because you know having a senior advocate and even on your site where you have the value calculator they’re more educated into the marketplace i I think I think you’re totally right I think this is a huge message for for everybody and I think that everybody would be better off being educated to the possibilities and so the current realities as to what’s happening because again I was brought up to a poor way you know I’m part of that generation so my parents weren’t depression babies and you know eat all the food on your place because somebody’s starving in Asia whatever it was you know and there was there was a keen sense of appreciation for you know for saving and for not wasting and so that’s the SS that I was brought up in and it’s just um you know I felt very good very passionate very good about being involved in trying to help people avoid waste and turn waste into something positive since you are also talking about the projected 3.5 million population in the future or do you also partner with overall or alternative health agencies like now that you have your insurance and motor you thought you’re going to die at 75 and hold on to your seat you’re going to be there are another 30 years or so what should you do to change that do you work with other people to point people in that direction yeah as a matter of fact like I said friend of mine that I’ve recently become much more aware of what he’s doing I think he would be a great speaker for your podcast and I’m happy to make the connection for you guys and he could speak directly to the topic of what his message is our four alternative thinking and alternative lifestyles become part of that three and a half million people right that are in the future I’d be up yeah I could be healthy why not so if that’s of interest to you I’m happy to make that connection for you it would be because I’m thinking that people would say well I’m 75 and I’m at the end of my rope why would I want to live to a hundred where I think I’m ready to go now no I think I think it’s very very important now to get out there I think it’s a very important message yeah awesome so so again just to kind of recap I mean first of all thank you for clearing up that there’s more than 300 people over 100 years old [Laughter] [Music] grandmother guns man okay so yeah I mean he gave us the whole gamut of of the insurance business it with regards to life insurance how we can as you said shift the risk and become better consumers in the marketplace I mean I learned a lot for sure good good yeah I appreciate you being able to help spread that message because I think how do you do that what it was you said send the podcast out what is entails with that yeah so we I know we’ll let David answer on his behalf but I’m in the business community so I do some marketing with folks across the country and like I said I know a lot of health care or home health or just under the health umbrella you know they deal with the aging population and the United States we are continuing to grow older as a country and not to be political but you know if there’s been some talks recently about if people are being deported then who’s going to take care of us when we get older so you know there’s a lot with baby boomers that they’re concerned about and so that this podcast could be one reason to get that message out yes good and also in addition to the podcast you also have your book that we didn’t highlight which is the best-kept money secret in your insurance policy did you like to talk a little bit about that and how people can get that book sure and I wrote a second book which you might get a kick out of also it’s called common sense is not that common Oh perfect which really has a lot of a lot of good advice and values to live by both of those books are available free as a download on my website oh yeah so they’re both you know they I wrote them as a labor of love one was sort of more of a personal history and my cashier oh yeah the experience that I got those things I learned working with my dad and working in business and as he used to like to say and everybody sort of likes this one good judgment comes from experience unfortunately experience comes through bad judgment so you know the cheap way to benefit from that is to try to benefit from somebody else’s experience and utilize the wisdom that hopefully gets developed over time through making mistakes there’s nothing wrong with making mistakes I mean I make mistakes every day if you’re not good I’m making mistakes you’re not doing enough and but but in the other book is really sort of kind of expose might be too strong a word but as an educational tool and a lot of stories and a lot of I think information for the layperson as well as the professional as to what we can do to combat this tremendous amount of waste I’m life insurance policies and again if they go to my website life insurance dr.com and you scroll through there they’re both there they’re there on one of the pages and all you got to do is click a button and put your email address in you get a free download um you know I wrote them out to sell them and make a profit selling them but really more to provide the information so for me that’s the easiest way to provide that information for the public sure and lastly I also noticed on your site that you do speaking gauges as well as that limited to the florida community are you speaking nationally well no I speak nationally I mean I’ve been speaking for years at a very high-end CPA conference as it goes on every year called winning is everything my speaking spoken with industry things for the insurance industry in spoken its charitable venues because a lot of times these policies can be used to fulfill charitable requests charities themselves don’t want to take on policies because they don’t have the internal expertise you know I’m there their concern about the policies laughing but it’s much simpler for the policy owner that wants to make a donation to the charity to sell or sell that policy and then give them cash they all like cash cash cash is king and make it all use cash and you will you eliminate the evaluation clause it’s a much more beneficial streamlined process for both the policy owner and the charity in that venue awesome also I mean I learned so much my goodness I’m even going to listen to this a couple of times just so I can become more versed and I might edit out that I only knew about 300 people over 100 years old you guys got the pencil as they say on the golf bag exactly well you you have been into to another episode of intrinsic motivation from a Holmes perspective this is Hamza and as David David it was a pleasure and I’d love to speak with you further stay in touch with you so we can learn more about shifting our risk absolutely and then send me send me something and I’ll send you the contact information for this gentleman mark pace and of course I’d love to get it like like a well I get a downloaded copy of the podcast or whatever yeah absolutely yep right great well it’s been a lot of fun guys I think you asked a lot of great questions and hopefully it’s helpful for for both you in their audience that’s been into it thank you have a great day thank you all right thanks again for checking out another episode of intrinsic motivation from our homeless perspective podcast please check us out on our website at intrinsic motivation dot life where you can click on the speak pipe button and leave any suggestions for a future podcast that you’d like us to cover also check us out on our social media sites we have a YouTube channel Facebook page iTunes podcast in addition to stitcher and Google Play all under intrinsic motivation from a homeys perspective check you out next time have a great day

Success & Abundance Quiz