Mass Mutual Whole Life Legacy 100 - The biggest myth when it comes to designing Whole Life insurance policies for the unlimited banking concept (IBC) is that the Base Whole Life policy is bad. Some agents even go so far as to suggest that the best Whole Life insurance companies are those that allow you to purchase a small amount of Base Whole Life while simultaneously paying a large amount of PUA (paid add-ons) premiums.
This video breaks down this logic by comparing the Guardian Whole Life policy which allows up to a 10/90 mix (10% is primary and 90% is PUAs) with the best Whole Life policies from Mass Mutual and Penn Mutual for non-banks and limited. In both cases, the Basis:PUA ratio is not as slim as 10/90, but still exceeds the Guardian's 10/90 split.
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Today we are going to talk about the biggest story ever when it comes to designing a whole life policy for unlimited banking and being in it for a decade and a half. Now we know how the sausage is made when it comes to designing life policies. We also know the shenanigans other agents are up to.
If you go back to the guts of what these other agents are doing, you'll often find that there's some sort of employment or inmate contract issue, where if they refer their business to this company, they get extra raises, extra perks, extras. benefits, additional retirement bonuses, deferred payments, whatever they consider their business.
We don't play games like that - we like to update and pivot as the market moves. So we have brokerage contracts with all the companies and we get paid the same if we sell this amount or many of the companies, maybe it's not the most profitable approach.
It makes our lives easier because things change. Like there was a big regulatory change at the end of last year and that gives us the freedom to go ahead and move around without any conflict of interest involved. So the biggest story, what is it? The biggest story? And as good as it sounds, the best way to design a policy is to use the lowest base premium to PUA ratio.
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As you want to pay the lowest percentage on the base payment and the highest percentage on the PUA, which again, on the face of it, who can even argue with that, it sounds strange. But if I use this analogy, this chef analogy would be like saying this restaurant uses the best recipes, the best number of ingredients.
And that's why it tastes better. The food tastes better, but you also know that the quality of the ingredients is important. Like, does it matter the proportions in which the ingredients are mixed? If they are weak links, the answer is no. And so there is a mixture. As always, we use the longest writer we can and therefore put more PUA in the can.
But sometimes with certain companies that require a higher base or sometimes with certain companies, their best products, it's not life pay to 100 where you'll have a lower pay because you increase that pay to 100 years and hit the turn rider . Sometimes the best, uh, product is 10 payments where you take a hundred year old, 100 value payments and squeeze it into the next 10 years.
That base charge will be higher, but it's a stronger ingredient, if you will. It is richer in nutrients if you like because of its composition. So it's not cut and dry. Right? And that's how we'll use the rest of the video. If you look, in terms of optimal temperature, the L 100 S is the best and compare it to products and companies out there, which are good products and companies where you can get the lowest base to PUA ratio.
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You can see for yourself which one you like best. Well. So to back up my statement with some math, I'm going to show you a company-approved piece and I'll let you know, we don't usually show these company-approved pieces, but we actually came to our conclusion by our own doing. independent research in our Whole Life 2022 product update video comparing the best IBC policies.
There are some examples at the end of this video, but I just wanted you to know that by showing them, we hit the same number and Penn Mutual came out the best in terms of both.
Basic policy and PUA relationship. And what you're looking at here is a life policy that pays out until age 100 for a 45-year-old child. It is a million dollars, just to pay age 100 premiums against another New York caregiver in the United States, all quality companies. Their minimum basic premium or policy. And what you can see is that Penn has the lowest payout for that million dollar death benefit.
It also has the highest IRR for the death benefit, as well as the highest IRR (internal rate of return) on the cash value over that time. Now remember, nothing special is happening here. There is no part-time writer. No additional PUAs - dividends are returned to the policy as PUAs, but this is one of those types of slow life policies that gets a bad rap in the industry because it takes any 10, 12 or 14. years to break even.
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What you can see is that type of ingredient pen is the most effective and why it's important the PUA (paid add) is basically on the same chassis as the lifetime paid up to 100 basically you just sit. lifetime premiums in the first year. And if you did it outside, if not in the PUA, but you just bought such a product, it would be MEC - modified foundation contract.
And you will lose your tax benefits immediately. But the reason you can do this within a PUA is because it is linked to a larger policy. So they look at the whole kitty litter and decide that it doesn't work, and that's what we do. Because, um, for unlimited banking is to add a term co-writer so we can add an excessive amount of PUA to the base policy so you can get additional PUA.
Now we also have a great video called Lifelong Growth Lifelong Growth by its authors. Where we talk about what I just said, conceptually, with the analogy of a race car. And then we show case studies of different levels like this kind of policy slowly developing and some levels of, uh, UAS and part-time writers about it if you're wondering, but still.
Going back to the biggest myth you'll hear from other lifestyle competitors is that you should have a very low PWA relationship policy because PWAs are the best. And it is true that you can get more in more money there in advance, but than the quality of the links. Are you not as strong as you can be, can you say with Penn around where they don't let you put a lot of time on base, uh, or PUA on base, does that matter?
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Again, going back to the ingredients, you can have the best recipe in the world, but if you are, the ingredients aren't great or they're not organic or they're not grass-fed or they're not pastured. whatever the analogy. that you like, uh, maybe it doesn't matter. What about. The recipe itself is worth it, and that's what this chart shows me.
Now. Another thing to consider is in a whole life policy, the death benefit is not a bad thing. You, the greater the death benefit, the cash value must equal the life expectancy, or it's just a form of growth is growth. Oh, and so the fact that Penn has the highest death benefit, the IRR, the lowest payout amount to the highest death benefit amount, also puts the biggest leverage if you're going to rely on that guaranteed cash value, that's why 'I see money
So, more evidence to clarify. The fact that basic pay is bad is to check out these 10 basic paychecks. It is contractually paid up to 10 years, 10 paid policy. It also gives us an overview of, uh, what they, what the company's PWAs look like. Because. Remember PWA is a lifetime annuity paid in one year.
All we looked at was something that was paid off in 55 years. It was paid off in 10 years. So it's a
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