In this final episode debunking life insurance misconceptions, Kyle and Todd discuss the rumors that whole life insurance is expensive with a low rate of return. Most of this information comes from unequal comparisons, but the reality is that life insurance can provide one of the highest rates of return over the course of its life. Tune in to hear more about how to maximize your dollars through whole life insurance.

Highlights 00:55 Misconceptions about whole life insurance being expensive and having a low rate of return 02:26 How unequal comparisons play a significant role in misconceptions 04:56 Case of misinformation such as getting only the death benefit and no cash in life insurance 07:04 The concept of rate of return in a life insurance policy explained through a comparison with an alternate investment scenario 11:04 Importance of having term insurance during working years and the higher likelihood of death post-retirement 13:40 How having a mix of equities and bonds in one's portfolio can yield better returns than a life insurance 16:50 The concept of self-insurance and the advantages of using an insurance company's pool 17:59 Comparing the certainty and protection of a whole life insurance policy to wealth accumulation 19:02 Benefits of partnering with a strong mutual insurance company 20:20 Debunking the common misconceptions about whole life insurance policies 22:00 There are no "deals" in the insurance industry, everything is built based on balance between risk and cost 23:24 The difference in risk and cost between term and whole life insurance 25:46 Assertion made that it's incorrect to label whole life insurance as "expensive" and term insurance as "cheap" 28:52 Observation that comparing the rate of return from a whole life insurance policy to an investment vehicle is usually taken out of context 30:02 How partnering with life insurance companies can be valuable to the equities market as life insurance can provide a certain asset to counter market fluctuations 32:34 Conclusion that term insurance is not cheap and whole life insurance is not expensive, both are priced perfectly for what they do

Episode Resources

• https://www.factumfinancial.com/
• https://www.factumfinancial.com/resources/#courses
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Todd Langford
• https://truthconcepts.com/
• https://www.linkedin.com/in/truthconceptssoftware

In part two of this series with Todd Langford, they tackle the misconception surrounding the interest rates on policies and the rate of return on being your own banker. Despite what people say, your costs have to be less than your investments to make money. Listen in as they share examples to explain this theory and how to make the most of borrowing from your policy.

Highlights 01:14 The common misconceptions with simple interests 04:25 Debunking the myth of earning 4% and loaning at 6% 07:41 The impact of the time value of money and the cost of money in financial transactions 11:40 Only circumstances under which having money at a lower interest rate and having debt at a higher interest rate makes sense 14:02 Busting the myth: Why earning four and borrowing six ultimately doesn't work 15:39 The idea that borrowing money from the policy is where the "magic" happens 18:08 Differences between certainty assets versus opportunity funds 23:02 The accumulation phase: Having a comprehensive understanding of whole life insurance and financial planning

Episode Resources

• https://www.factumfinancial.com/
• https://www.factumfinancial.com/resources/#courses
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Todd Langford
• https://truthconcepts.com/
• https://www.linkedin.com/in/truthconceptssoftware

Joining Kyle today and for the next three episodes is Todd Langford, creator of the Truth Concepts. Over this mini series, they will address the misconceptions of whole life insurance starting with commission on life insurance policies. Many people think these policies pay out the highest commission which in fact, they have some of the lowest commissions. This is why it is important to pose life insurance as more of a savings avenue versus an investment. Tune in to part two to hear more misconceptions about life insurance.

Highlights 01:20 How most misinformation in the financial industry comes from numbers taken out of context 03:30 The unfair comparison between industries with different payment structures 04:25 Realization that the cumulative fees on a 4% bond with a 1.5% management fee is greater than the commission on a whole life insurance 09:09 Understanding that real value comes from the delivery of services, not just from the price 10:47 What happens when a new company and a new fund manager manages your portfolio 12:32 The hypothetical scenario since insurance gets paid differently compared to equity advisors: Insurance gets paid higher upfront, but equity advisors earn more in the long run 17:01 The comparative analysis between life insurance and other assets, and how life insurance provides certainty 22:00 The need for a balanced perspective when comparing different finance industries and their commission structures 23:27 Consideration of how future market trends might impact financial decisions and the value of life insurance as a stable asset 25:36 The misconception that life insurance is the most lucrative commission-based industry, and the educational resources available for better financial understanding

Episode Resources

• https://www.factumfinancial.com/
• https://www.factumfinancial.com/resources/#courses
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Todd Langford
• https://truthconcepts.com/
• https://www.linkedin.com/in/truthconceptssoftware

Today, Kyle and David discuss the importance of having the right framework, the right mindset, and the intention to help bring success to your life. They dive into the details of the Wealth Pyramid they have created for their agents to help their clients create financial freedom and build wealth. Take a listen today to learn more and see if you're following the right roadmap.

Highlights 00:15 The concept of wealth pyramid and its effectiveness 02:57 What financial freedom is and how it differs for everyone 06:50 How perceived limitations can hinder wealth growth 07:46 The concept of quality of life and its relation to the ability to think and make decisions 09:34 Importance of community and collaboration in building wealth 14:45 Importance of an unshakeable wealth foundation for long-term financial security 17:57 How the wealth pyramid and scorecard can guide individuals in wealth building 22:27 Assurance that mastering these financial concepts need not take a lifetime 22:56 The process that successful individuals took towards wealth 24:28 The vision of increased value, opportunity, and creativity arising from the use of the wealth scorecard

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with David Zapata
• https://www.linkedin.com/in/bydavidazapata/

In today's episode, Kyle and Monty discuss what they feel like it takes to launch a successful Life Insurance business. They talk about the importance of having the right agents and the right training in place to ensure not only their success, but the business success. Kyle and Monty talk more about the processes they have in place to help to make someone an above average agent. Tune in today to hear if you are on the fence about getting into Life Insurance!

Highlights 00:44 Why most agents fail in their first two years in the life insurance business, attributing it to lack of focus 04:51 Importance of having a mentor and developing a clear identity in your business 07:35 The necessity of having solid, uninterrupted focus hours for your business 11:05 The role of leadership principles in agent training 13:55 The power of community and collaboration 22:16 Top three to focus on during the day 30:08 The three books that helped them integrate their philosophy into 38:00 How during their virtual training, they allow new agents to practice their scripts and how positive "peer pressure" can lead to increased productivity 39:54 Importance of personal development alongside business development 42:37 Why agents need to focus on servitude first before thinking about creating their unique approach 44:57 The benefits of the life insurance industry and the need for more leaders in the field

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Monty Flack
• [email protected]
• https://www.factumfinancial.com/

Kyle Fuller and Wade Borth talk about the overlooked concept of the cost of acquisition, its significance in business sustainability, and the effective methods Factum Financial has put in place to aid insurance agents. Factum's approach includes their franchised-like model, the Cash Flow Dashboard for wealth tracking, and educational courses for continued client learning. This system promotes efficiency and relationship-building, steering agents and clients towards success.

Highlights 03:41 What causes you to take a successful business 09:23 Empowering agents to reach their maximum potential through systems and models 12:20 The importance of relationship building and problem-solving as key roles of an agent, outsourcing application and policy tasks to professionals 19:50 Analogy of investment insurance 22:46 How winning is ugly in cost acquisition 30:40 The cash flow dashboard, a newly developed project aimed to guide clients through a high-level wealth conversation in a systematic manner

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Wade Borth
• https://www.linkedin.com/in/wade-borth-43121542
• https://podcasts.apple.com/us/podcast/wade-borth-sage-wealth-strategy/id1515358066

Kyle Fuller and insurance specialist Wade Borth argue that they operate a leadership development agency that sells insurance. They prioritize empowering their agents and fostering an abundant community. They emphasize personal and business growth innovations, such as transforming non-productive habits into productive ones and advocating long-term, intentional thinking. Kyle and Wade offer training programs and mastermind gatherings for agents to learn and lead.

Highlights 01:24 The importance of helping clients live abundantly and the impact on various areas of their lives 03:54 The abundance mindset and the importance of long-term thinking to their approach 07:32 Leadership and focusing on an 'infinite thinking mindset' 10:18 The importance of nurturing agents and building them into better leaders 17:09 Developing a signature contacting method and its impact on business growth 20:50 Striving for long-term results and educating agents on how to scale and run a business effectively 27:49 The need of planning for long-term success and equipping agents with skills to stay in the business 33:21 Importance of infinite thinking and exposure to different perspectives within the Factum community 33:44 Immense value of live events

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Wade Borth
• https://www.linkedin.com/in/wade-borth-43121542
• https://podcasts.apple.com/us/podcast/wade-borth-sage-wealth-strategy/id1515358066

Kyle Fuller and insurance specialist Wade Borth discuss the ethos at Factum - using their business to build an abundance-minded community founded on strong relationships. They highlight the 'infinite banking' concept, using life insurance as a tool for financial education to empower others. Finally, they advocate for whole life insurance and infinite banking to serve clients and attract passionate contributors.

Highlights 01:53 The role of content and community in Factum 09:48 The right use of money and using it as a tool to fund goals and visions, not just for making money 17:30 The impact of the "Becoming Your Own Banker" book on their agents and the paradigm shift it inspired 19:36 Uniqueness of the community they've created 21:45 Value of communal reading and the alternative perspectives a book club can offer 24:57 The guiding visions and long-term perspectives shaping their business

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Wade Borth
• https://www.linkedin.com/in/wade-borth-43121542
• https://podcasts.apple.com/us/podcast/wade-borth-sage-wealth-strategy/id1515358066

Kyle Fuller and insurance specialist Wade Borth discuss their shared vision for the life insurance industry. They emphasize focusing on community and relationships, and their goal of building a mutually owned agency with 5,000 agents. Their principles are summed up by the acronym FACTUM (Focus, Authentic Leadership, Compelling Vision, Training and Coaching, Unrelenting Innovation, and Mutually Owned). They believe in intentional growth in all life aspects and aim to create long-term abundance.

Highlights

• Wade's nearly 35 years of experience in the life insurance business
• Meeting R. Nelson Nash and the value he found in his book
• The necessity of collaboration in the insurance industry
• Building an insurance agency that's mutually owned with 5,000 insurance agents
• The importance of intentional growth in every aspect of life
• Their approach towards retirement and opting to continue working due to their love for what they do
• The importance of mentoring and coaching for new insurance agents
• The value of storytelling and having a broad database to impact more lives
• Providing stability in the insurance business
• Creating a sustainable business rather than owning a job
• More stability at the business level to serve and protect more families

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Wade Borth
• https://www.linkedin.com/in/wade-borth-43121542
• https://podcasts.apple.com/us/podcast/wade-borth-sage-wealth-strategy/id1515358066

Today, Kyle and Monty discuss The Factum 15 - their daily roadmap to success, helping them stay focused and productive in the life insurance industry. They talk about starting their day by winning their morning, expressing gratitude, and setting positive intentions. The primary focus is building and nurturing their database, adding new contacts daily, and sharing valuable IBC information. They also reflect on personal growth goals to maintain balance in life and business. The Factum 15 is a simple yet powerful system for new agents to achieve early success. Tune in to hear more about your mindset can be one of your most powerful tools.

Highlights

• Previous experiences and what led to the creation of Factum. There were three founders initially.
• Nostalgic recall of the beginning of their partnership, acknowledging the hard road traveled.
• The company ethos at Factum; aiming to create an environment for personal and professional growth in all five areas of life.
• The need to constantly grow and explore new tools.
• The importance of following up with clients and adapting systems to better serve their needs.
• Emphasizing the effectiveness of focusing on key activities and giving it sufficient time, touting the success experienced as a result.
• The benefits accrued from implementing the lessons from "The Compound Effect", leading to significant business growth.
• The importance of putting oneself together in order to succeed.
• The transition of Factum into being mutually owned, emphasizing on profit sharing for agents.
• Three guiding principles of Factum: Stronger together, infinite thinking and intentional growth.

Episode Resources

• https://www.factumfinancial.com/
• Connect with Kyle Fuller
• https://www.linkedin.com/in/kyle-fuller-9516311a9/
• https://factumfinancial.ac-page.com/book-appointment
• Connect with Monty Flack
• https://www.linkedin.com/in/monty-flack-2380ba17/