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Financial Planning Integration IRRRL chm
- 3. • Up to 22 Veterans commit suicide daily. • 49,933 of Veterans are homeless, which represents 8.6 percent of the total homeless population. • About 11-20 out of every 100 Veterans suffer from PTSD, depression or both. • VA hospitals are underfunded and over populated. • 3.8 Million Veterans have a service-connected disability. QUICK FACTS ABOUT OUR CUSTOMERS • 50,647,676 Veterans are retired living on a fixed income. • Based on a DOD non-profit survey, 1 out of 3 Veterans claim they struggle with covering basic cost of living and inflation.
- 4. CREATIVE HOME MORTGAGE What we Already Offer Skip Two Payments Escrow Refund Lower Payment Property Tax Reduction Cash Out Debt Consolidation Financial Planning
- 5. CREATIVE HOME MORTGAGE What Will They Offer? Universal Life Policy Retirement Plans Pension Creation Life Insurance MORTGAGE PROTECTION
- 6. CREATIVE HOME MORTGAGE How to Integrate in to Call Flow Savings Program Cash Out Financial Planning At the end of each call, whether a client chooses to participate in a Refinance, introduce the option of a free financial planning consultation. “A recent non-profit VA survey found that veterans are struggling to make ends meet at the end of each month, would you consider yourself in this category?
- 7. CREATIVE HOME MORTGAGE How to Integrate in to Call Flow Savings Program Cash Out Financial Planning “We work in partnership to assist veterans regarding financial planning and presenting options to alleviate financial stress while living on a fixed income. Here’s what I would like to do, when would be a good time within the next week to have one of our financial planners sit down with you and show you a few options to help.”
- 8. CREATIVE HOME MORTGAGE What Will We Do About It: • Offer free in person financial planning to our clients • Integrate PACE Financing within the next few months • Cover Closing Costs to Win a Deal
- 9. CREATIVE HOME MORTGAGE Goals of Financial Planning • A few options: •Leverage Equity to invest in Retirement Planning •Help Clients pay off mortgage early by leveraging life insurance • Pension Creation • Resell client to cash out for investment purposes
- 10. CREATIVE HOME MORTGAGE Leverage Clients Equity Earn a Bigger Return on IUL Investment
- 11. CREATIVE HOME MORTGAGE “If you don’t like the way the table is set, turn over the table.” -Frank Underwood
- 12. CREATIVE HOME MORTGAGE Once equity was calculated, the Census Bureau broke out this information by age groups ranging from people less than 35 years old to people 75 and older.
- 13. CREATIVE HOME MORTGAGE Early Pay Off with IUL
- 14. CREATIVE HOME MORTGAGE Leveraging IUL for Early Mortgage Payoff Year 1 Mortgage: $450,000.00 Rate: 4.5% Monthly: $2,208.00 Year 30Year 10 Year 20 TOTAL INTEREST PAID $11,765.54 $ 185,364.03 $ 318,048.90 $ 370,830.20 : $ 370,830.00 TOTAL PAID OVER 30 YEARS: $ 820,830.00
- 15. CREATIVE HOME MORTGAGE Leveraging IUL for Early Mortgage Payoff Mortgage: $450,000.00 Rate: 4.5% Monthly: $2,208.00 TOTAL INTEREST PAID: $ 370,830.20 TOTAL PAID OVER 30 YEARS: $ 820,830.20 Year 1: Client buys home at $2,208 per month. Year 1: Client buys IUL at $500 per month. Mortgage IUL 20YEARS 20YEARS Client still owes: IUL Approx Value: $218,270.00$209, 702.96$8,567.04$209,702.96Free and Clear! GAINS! •Mortgage paid off in 20 years. • Additional wealth of $8,567.04 • Client makes 120 less payments to mortgage: • 120 X $2,208.00 = $273,609.60 WINS! •4% Estimated Gains with OPM (Other Peoples Money) •Sell More by Utilizing this Tactic
- 16. CREATIVE HOME MORTGAGE “We work in partnership to assist veterans regarding financial planning and presenting options to alleviate financial stress while living on a fixed income. Schedule the appointment and earn more commission.
- 17. CREATIVE HOME MORTGAGE Integration: • If you find that a client is on the fence, or we cannot close due to a client having concerns about financed closing costs, flag your manager and we will evaluate in real time whether we can cover the closing costs to win the deal. •Manager or Ops approval is required prior to offering this to your client, and may be an escalation with a call back. • If a retirement plan, mortgage protection, or other policies are sold you will receive a commission of up to $800 per client, paid within the week. Your manager can track the status of the client and policies sold online.
- 18. Q/A
Editor's Notes
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- Here are my objectives for you today to increase your ability to provide phenomenal service: How to leverage your clients equity to invest in IUL’s How to help your clients pay off their mortgage early by using an IUL Break down whether it’s more beneficial for a client to sell their investment property to invest in an IUL or not How to leverage us, your partners, to help you achieve these results easily.
- Leveraging Clients Equity How to earn a bigger return and commission
- A lot of people can’t see the forest, because of all of the trees. Old saying, still true. One of my employees wrote that quote (joke)
- Helping your clients pay off their mortgage earlier with an IUL
- Now let’s say this same client wanted to pay their mortgage of early, say in 15 or 20 years. We’ll first start without this client have an IUL X in order for this client to pay off their mortgage they would have to almost double their monthly payment for the entire 20 years. And by doing so, they will save $187,674.34 in interest to the bank, but it will have cost them $547,200.00 for that house! X Let’s now look at the same client, and if they were to choose to invest in an IUL instead of pay extra to their mortgage. If the same client invested just $500 per month in to an IUL, they could cash out their IUL in 20 years and PAY OFF their mortgage in full, and they would have only contributed $120,000.00. They would also make 120 less payments, save the same, have a death benefit and new monthly income is created for your client. Which options seems better?