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How to Build a TAX-FREE Retirement and Legacy with Life Insurance
23 Plays1 month ago
- What if you could retire with tax-free income, leave millions to your heirs, and not give Uncle Sam a dime?
In this episode of The Future of Finance, Marissa Wood sits down with financial industry veteran Marty Willenborg, who shares powerful strategies using life insurance, premium financing, and the Kaizen concept to create wealth, preserve it, and pass it on—without the IRS taking a cut.
- If you're skeptical about whether life insurance can be more than just a death benefit, this episode will change your mind.
⏱ Timestamps:
0:00 – Intro: Meet Marty Willenborg & His 44-Year Financial Journey
1:00 – How a Cancer Diagnosis Changed Marty’s Life—and Career
4:00 – The Harsh Truth About Life Insurance When You Need It
6:15 – Why Annual Policy Reviews Are Non-Negotiable
9:35 – Living Benefits: How Life Insurance Is More Than a Death Benefit
10:05 – Term vs. Permanent Insurance: The Real Cost of “Cheap”
11:30 – What Is Indexed Universal Life (IUL)? Explained Simply
13:20 – The Kaizen Strategy: Tax-Free Income Using Bank Leverage
15:10 – How the Kaizen Plan Works (Step-by-Step)
17:40 – Real Example: $125K In, $7M Out (Tax-Free)
21:55 – “Is This Too Good to Be True?”—Addressing the Top Objection
24:00 – 401(k)s vs. IULs: Tax Implications You Need to Know
25:00 – Can’t Do Kaizen? LIRPs & Legacy Planning Options for All Budgets
26:30 – How to Set Your Kids or Grandkids Up with Millions (G-Suite Strategy)
28:30 – Final Thoughts: Stop Giving Your Legacy to the IRS
🔗 Ready to take the first step?
Visit https://www.union-financial.com/ to schedule a free consultation.
💬 If this episode moved you or gave you a new perspective, please like, comment, and share it with someone who needs to hear this.
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Transcript
Introduction to the Podcast
00:00:09
Speaker
Hi, everyone. Welcome back to the Future of Finance podcast. I'm your host, Marissa Wood, owner of Union Financial Services. And today we have a really exciting episode ahead of us.
00:00:20
Speaker
We are joined with industry expert Marty Willenberg, who's had over 40 plus years in the financial services and insurance industries. And today he's going to share
Marty's Journey into the Insurance Industry
00:00:31
Speaker
some really exciting concepts that on how he's been helping his clients for over 40 years with the estate planning strategies and helping his clients achieve tax-free income when they retire using something called the Kaizen concept.
00:00:46
Speaker
So tell us a little bit more about how you got started in this industry. Okay. Like you said, it was over 40 years ago, Marissa. It was actually my son's 10th birthday. I was going to out the front door to take him out for pizza and stuff. And The phone rang. well I run back to get the phone and a friend of mine that was actually in my wedding party called me and says, Hey, Marty, I've just been promoted to a sales manager with a company called Prudential.
00:01:13
Speaker
He said, I'd like to talk to you about maybe getting in the industry. And ah I said, Ron, the last thing I'm going to do is sell life insurance. I don't want to do any of that. I've never sold a thing in my life and that would probably be the last thing I would ever sell.
00:01:30
Speaker
He said, well, just come down and talk to me. And again, we'll we'll talk about it. So the next day I went down and talked to him. And lo and behold, I did get started with him because everything he talked to me about was the opportunity, the financial rewards, helping people.
00:01:48
Speaker
And I really liked that. And the reason I chose life insurance, Marissa, was I wasn't in the ins insurance business, but I went to the ah doctor with a bad head cold when I was 25 years old.
00:02:00
Speaker
You know, you don't go to the doctor when you're 25, but my wife set up an appointment for me to go and I went. And when I went there, i was really congested. Well, he said, take off your shirt. I want to check your lungs.
00:02:12
Speaker
Well, when he but I took off my shirt and he checked my lungs, they found a spot on my shoulder, chest there, and he asked me how long I've had that. And I says, well, I've had it for two or three months.
00:02:26
Speaker
It's been getting bigger and it's getting blacker and getting a little lump under it. Well, to make a long story short, he said, we're taking that off tomorrow. You're going to come back in here. so I went back in the next day. They took off part of my shoulder here and sent it in, you know, and I go, what's, what's going on here?
00:02:45
Speaker
And he he said, well, we're just checking. We want to make sure it's benign. And course that scares you. You know, I'm 25 years old. Think you're going to live forever. So back then you had to wait about 10 or 12 days. Well, when it did come back, I went in for the appointment and I knew it wasn't going to be good because they put me in a room with another gentleman and, uh,
00:03:06
Speaker
Unbeknownst to me, he was kind of like a psychiatrist or something because they don't know how you're going to react. But anyway, they said, Marty, we hate to inform you, but you better prepare because you have a it's a malignant melanoma and the odds are very good. You're not going to be around next year at this time.
00:03:24
Speaker
So again, and i had to go home and talk to my wife, and Elena, and she goes, hey, what's going on? What'd they find out? Well, I remember walking up the stairs. We saved about five years to buy a new house, and we just bought it in June. I'm diagnosed in September.
00:03:40
Speaker
And I said, Elena, it's not good. I'm checking out the kitchen window at my four- and two-year-old out in the backyard playing. thinking, son of a buck, I'm never going to be able to play ball with my son. I'm never going to walk my daughter down the aisle.
00:03:55
Speaker
And she
The Importance of Life Insurance
00:03:56
Speaker
knew something was really up. And I said, Elena, yeah, they found a tumor, a malignant melanoma, quick cancer. And I said, the odds are very good. I'm not going to be here next year.
00:04:07
Speaker
course, we both cried. And what are we going to do? What are we going to do? And I says, well, Elena, ah I've got that old policy I pay $44.88 a month on every month, and I complain about it because I didn't understand it.
00:04:20
Speaker
So I go back to my sock and underwear drawer and dig it out. And I come out and I show it put it on the table. It was a $40,000 policy, and I'll never forget. i put it on the table. I says, Elena, here's $40,000.
00:04:34
Speaker
And she looked at it, turned it around, and shoved it back at me. And she says, Marty, what am I going to do with that? We just took out a $40,000 mortgage. I have two young kids to raise. I'm not working because we figured you work. I'll raise the kid.
00:04:49
Speaker
So dumb, unbeknownst to me, I said, Elena, I'll go get some. Again, I wasn't in the industry or in the business. So I go down and apply it i at a policy.
00:05:02
Speaker
i tell the salesman or the the receptionist, I'd like to buy some life insurance. Well, All the people in the room come loose it are tighten their ties up and come out and see me. And make a long story short, I applied for $250,000 of term insurance. And the gentleman started asking me my date of birth, social security number. he started asking the health questions. And he says, hey, are you a smoker? Have you ever had any cancer, heart trouble, anything like that? And I said, yeah, about two or three weeks ago, they found a melanoma my chest.
00:05:34
Speaker
And it it's not good. Well, he took the paper application, Marissa, and he tore it half right in front of me. And I says, hey, hey what are you doing?
00:05:45
Speaker
He says, Marty, yeah I sell a funny product here. when When you don't need it, you can get as much as you want. And the day you need it, you can't get any.
00:05:57
Speaker
So ah that was to me then I knew I wasn't going to get the insurance and thank God it I made it past it, that couple of years. But anyway, when I talked to the the gentleman that called me, and went down and talked to him I really like helping people and I know what it's like to be told, Hey, you might only have it six months or a year.
00:06:18
Speaker
And that's the first thing that popped in my head you know, who's to take care of my kids and family and everything. So, I'm a big advocate for beneficiaries, children, but spouses, and and grandchildren and stuff. So I really like doing that.
00:06:33
Speaker
And Marissa, you know me well enough. I've done it for 44 years now, ah pretty much. and And it's just amazing what I'm finding. But that's when I got into this business.
00:06:46
Speaker
That is so true with life insurance. You can get as much as you want when
Living Benefits of Life Insurance
00:06:50
Speaker
you feel Immortal, when you feel as though you're not going to die anytime soon and you don't have any health issues, but then all of a sudden, as you age and you're diagnosed with this or that, it becomes harder to get that life insurance. And so putting it in place as young as possible is crucial, really.
00:07:11
Speaker
Well, Marissa, I love, I mean, you bring up a good point, but I love doing this business. I love everything about it except one thing, and that's ah naturally delivering the death benefits.
00:07:22
Speaker
I mean, that's the worst time in people's lives. ah But, you know, 40-some years of doing this, I've pretty much heard everything, you know, when it comes to life insurance and stuff. But there's one thing I've never heard.
00:07:35
Speaker
In 44 years. And that's when I deliver a death plane claim claim. I give them the check and stuff. I've never heard anybody say, Marty, that's too much. You better take some back.
00:07:46
Speaker
I mean, we all smile about that. I still smile about it. But, you know, so I've never heard that where somebody said that's too much money. and We got to give some back. But I've heard way too many times, this is all we get.
00:07:59
Speaker
Marty, what am I going to do now? My husband's gone or something like that. And what am I supposed to do? And I've heard that way too many times. So when you look at this stuff, you got to really look at annual reviews with your policies. I can't tell your clients enough and people out there, make sure that you at least review your policies once a year with somebody.
00:08:24
Speaker
I mean, Marissa, I found people at 70, 75 years old still have their mom and dad down as beneficiary, would have been gone for 15 years. Yeah, that's probably common.
00:08:37
Speaker
Well, yeah, very common. I've had people that they still had their children down with, again, revealing your policies is really, really important. Yeah, that's a no-brainer for anyone that has insurance.
00:08:49
Speaker
Let's review it. Maybe we can buy you more coverage for the same amount that already paying, or maybe we can lower that annual payment that your premium is, and you can get even more insurance or the same insurance amount.
00:09:05
Speaker
um But we don't know until we review it. And luckily, you know we've partnered with Marty as back office support. We're a small family business, but we need to outsource some of our expertise to people like Marty who can help us design these policies, review them, make sure we're serving our clients to the best of our ability, and do it with someone that has over 44 years of life insurance experience.
00:09:33
Speaker
So our clients really are getting a
The Kaizen Strategy Explained
00:09:35
Speaker
ton of value through our partnership with you, Marty. Thank you. And so we've kind of covered the surface of the value that life insurance has in terms of death benefit. But what I really want to dive deeper into with you today is all the living benefits that you can utilize life insurance for and some strategies that you've designed to help people take tax-free income and get a crazy return on investment.
00:10:02
Speaker
So tell me a little bit more about permanent life insurance. Okay. The two types are... and and and temporary insurance or term insurance. And that's the cheapest because again, ah you just buy it for a term and when the term's up, you're you're done. So you can pick the term you want, 10, 15, 20, 30 years.
00:10:24
Speaker
It's gonna be the cheapest, but you have to understand about term insurance is 98.6% of term insurance is never paid out in a death benefit. So that only leaves about 1.4% is actually paid out as a death benefit.
00:10:40
Speaker
All right. And why is that? Well, well, congratulations. If you're one of the 1.4% and it's paid out as a death benefit, you just beat the insurance company pretty bad, but you're dead.
00:10:52
Speaker
But you're dead. Well, they just know and insurance companies know how many people are going to live, you know, how many 35 year olds are going to live this year. they They have it really, really good. So they can charge a 10 year term. They just collect that premium. And if you're one of them that pass away, it doesn't build any cash or anything like that. So 120 years ago, they came out with whole life insurance.
00:11:17
Speaker
where you build cash value in there. So someday you can take the cash out and keep your insurance permanent, then you never run out. Okay. But then about 20 years ago, they came out with something called Universal Life because a lot of the insurance companies were making money off the cash value.
00:11:36
Speaker
And the client wasn't, they'd get a small dividend. Well, the insurance company is making all the money. So us consumers said, hey, we want to be able to make some money off of that. So then the insurance company switched to something called, the people said, well, I want i want to invest my money.
00:11:51
Speaker
cash value into like the market. Well, then a product called variable universal life came out. Same thing as universal life. You didn't have a fixed amount, but you got to play the market.
00:12:04
Speaker
Well, then things were so expensive. But again, when anything was variable means it can do what? It can go up and it can go down. So if you lost money during the year, then your policy took a hit for that.
00:12:16
Speaker
And they're very, very expensive because they had all the charges going with that. Well, then a few years after that, out came Index Universal Life, IUL it's called.
00:12:28
Speaker
There, not in the market, but again, it builds the cash and you get to pick like an index, like the S&P 500 are or different scenarios you know that you can pick. And then that index does that. That's what you get on your policy.
00:12:42
Speaker
But the nice thing with them, Marissa, is they have a 0% floor on them. You can't lose any money as your cash value grows. So you get the growth, the anniversary comes around, next day,
00:12:54
Speaker
You stop, you stay there because zero is your floor for the next year. Yeah, it's almost like a staircase. You're just, you know, every time you earn, you lock in, you go up that next step.
00:13:05
Speaker
The next year you go up again, you lock in, you go up that next step. and And what a beautiful way to make money knowing that you're never going to suffer a loss. Yep. It's like walking upstairs with the yo-yo.
00:13:18
Speaker
You know, it goes up and down, but you still keep going up the steps. So yeah, that, that works real well. So what I've done, I was just going to retire five, six, seven years ago, and I came across this product called Kaizen, K-A-I-Z-E-N.
00:13:34
Speaker
And this is a concept I really fell in love with because again, the way to qualify for a Kaizen, I asked a lot of my clients, ah number one, are you saving enough for retirement?
00:13:46
Speaker
Now, 95% of them said, well, Marty, we could always be doing more. I wish I could put more away. So so be it. I'd say, okay. I said, let me ask you another question. How do you feel about volatility in the market?
00:13:58
Speaker
And again, they all hated it. They had lost some money, took five years for it to get it back and this and that. And I says, okay, if I could find you some extra money, if I could protect it so you can't lose it, how do you want to be taxed on that in your retirement?
00:14:14
Speaker
Well, they all look at me and they like, I'm a dumb bunny. They say, well, Marty, if that's tax free, that would be everything I've got is taxed. 401k IRAs, I own land, all that stuff's going to be taxed someday.
00:14:28
Speaker
I says, okay, let me summarize. then And then I'll show you a concept that I found you extra. I can find you extra money. I can protect it and i can get it to you tax free. And that's the way I would sit down with people and I would show them just how this product works.
00:14:43
Speaker
Marissa, it's called premium financing, where you borrow money from the bank. Okay, now don't get nervous and tune me out, but everything is done with the policy, the life insurance policy. You're not putting your house up for mortgage or your farmland or anything like that.
00:15:00
Speaker
The policy is a collateral. All you have to do is qualify for the policy. And again, everything, the trust and everything is set up through the policy. That's the only collateral you have.
00:15:11
Speaker
But here's the deal. You have to make a five-year commitment. All right? You pay five premiums, and then the bank will match that with five premiums. So there's a whole premium going in here.
00:15:23
Speaker
Then you're done. You're done for the rest of the contract. The next five years, the bank pays the whole premium. OK, so for every dollar you put into it, the bank is matching it the first year and the next year they're putting two dollars in. So every dollar you put into this program, the bank is putting three dollars in.
00:15:43
Speaker
All right. From the 11th year to the 15th year, nobody's putting anything in. We're just letting this thing grow and do its thing into the index and see how the index does.
00:15:53
Speaker
But please remember, you have a zero percent floor, so you can't lose any money with it. Then after the 15th year, the bank will go into the policy, take a loan against the to get their money and interest out, and then you get what's left.
00:16:07
Speaker
Okay?
Eligibility and Benefits of Kaizen
00:16:08
Speaker
So what you're really doing here is using leverage, and leverage is not a bad thing if you know how to use it. Okay? So it works just like a mortgage. I bought a $350,000 house. i put, about down on the house. Okay?
00:16:28
Speaker
And again, as that has grown, my $350,000 house is now worth about $700,000. And I've paid down that loan. So what I did is I used the bank's money, okay, to take it from $350,000 to $700,000. And again, so my down payment was kind of like the five payments on a Kaizen.
00:16:48
Speaker
Works the same way. so years one through five, You're putting in your premiums and the bank is matching you. And then years five through 10, the bank is paying the whole amount.
00:17:03
Speaker
What you were putting in plus what they were putting in, they're paying that whole amount years five through 10. And then we let it marinate a bit. Year 15, the bank takes back the money they loaned you.
00:17:15
Speaker
And then the policy is yours from there on out to borrow from, to take from, correct? Correct. Yeah, you can, if you have kids in school, you can use it for college funding. If you want to buy a different house, you know, all that money after all them 15 years is yours.
00:17:30
Speaker
Okay. So again, you can do whatever you want with it. Now, again, if you let it sit, ah that's when you can pull tax-free income out. I had one the other day, just for an example, he put X amount of money in it and he's going to do it. You have to commit to 15 years. I'm going to be up front. and It's a 15 year commitment, five from you, but you got to let the thing do its course.
00:17:54
Speaker
It's never failed with all the back testing they've done. And then what happens at age 65 or whenever you want, you start drawing income out of this thing and it's all completely tax free.
00:18:07
Speaker
So that's that's the beauty behind this thing that people can get. Number one, you find them extra money. Number two, you protect it Number three, you're getting them tax free income. You know, this is this is fixed index universal life insurance because a lot of our listeners and clients might already be familiar with fixed index universal life insurance.
00:18:26
Speaker
But this is just taking it to another level by adding premium financing, adding that bank leverage. So it really, it's taking the same concept and product, but just enhancing it.
00:18:38
Speaker
Yeah, it's like it's on steroids or something that, you know, because you got to understand, number one, it's a life, but the company that designed it didn't design it to see how big a policy we can sell my clients. It's designed for one thing and one thing only, tax-free income.
00:18:56
Speaker
They did that for their employees 22 years ago. And that's how this thing all developed. ah So the the insurance cost, we don't want to sit here. you don't want to spend a lot of money on insurance, you on the cost of insurance. So again, we want to keep that as low as possible.
00:19:12
Speaker
All right. But here's the thing, Marissa, not everybody can get into this. Number one, you have to have income of probably a hundred thousand or more.
00:19:23
Speaker
household income to get into it. Okay. Because again, you just can't do smaller policies and stuff. It just doesn't work. Okay. So if you have a household income of $100,000 or more, if you're you married, you and your spouse make more than $100,000, you can look at it.
00:19:40
Speaker
The second qualification is you have to be qualified relative. you have to be relatively healthy. If you're a diabetic or or what they call a special class four or more are rated on insurance, it doesn't work because, again, the insurance costs get to be too much.
00:19:56
Speaker
And it's not designed for that. So if you're relatively healthy and you and your spouse, you're married, make more than $100,000 a year, yeah give Marissa a call and get a what-if scenario and see what this thing looks like.
00:20:10
Speaker
And what is the minimum premium every year? Because I know that has been something that has caused this to not be a good fit for some clients. And we've gone just the traditional fixed index universal life route.
00:20:24
Speaker
What is the minimum that you have to put in every year for five years? Now, again, what you're looking at, the minimum premium is about $22,000 a year. Okay, so don't hang up on us here, but you know you take that times five years, because I've had one that the gentleman was putting in about 25,000 on his wife, put it away for five years, and at 65, they could pull out about $234,000 a year based on six percent interest
00:20:56
Speaker
Now you can do that for 26 years. All right. So if you take two, 235 times 26 years, that's about $6 million dollars tax-free income.
00:21:11
Speaker
And if she died on her 90th birthday, it's what we project these things to, there's still about 1.2 million go to her her heirs, her children, charity, or beneficiary.
00:21:22
Speaker
So on $125,000 investment, She herself is going to get $6 million back of income, no taxes, but her heirs are still going to get a little over a million.
00:21:34
Speaker
So if you did the math, that's $7 million $125,000 investment. That's why, Marissa, didn't retire. People just really, really like this concept. that's why marisa
Alternative Strategies for Retirement Planning
00:21:45
Speaker
i didn't retire ah people ah just really really like this concept Now, those numbers are staggering.
00:21:54
Speaker
And obviously, the wealthy use leverage to build wealth. And this is classic example of it. But something that's going to come to mind probably for a lot of our listeners, and it even came to my mind when I first heard this concept, is it sounds too good to be true.
00:22:11
Speaker
So how is this not too good to be true? Well, you bring up a good point, and I hear it all the time. The three biggest objections, that's one of them, right? There's too good to be true. But the only way this would be too good to be true is if Marty paid the premium.
00:22:26
Speaker
And that's not going to happen, right? But you got to understand too good to be true. Number one, you have to qualify. But they don't qualify health-wise, so they can't do it. The second thing is you have to commit to them five premiums.
00:22:40
Speaker
All right? Not everybody wants to commit to it. Like I said, $22,000 a base or $25,000, that's a of money. Okay? Okay. yeah that's a lot of money okay Then the third thing, again, is that you have to give it some time to work. You have to commit to the 15 years.
00:22:58
Speaker
If you can commit to the payments and you can do it for five years, you're done. Let the bank leverage work and commit to 15 years. Then this is just right for you. And it's ah again, if you can't do them two or three things and it's it is too good to be true.
00:23:14
Speaker
But again, ah the wealthy, like you said, the wealthy have been doing this for a long, long time. Exactly. And it's important it's important for people to remember that that 401k that they are building up for retirement, that's all going to be taxable at an unknown rate in the future.
00:23:32
Speaker
Whereas this type of policy, those tax-free income distributions, you know, if you're taking out $100,000 a year from your ah fi ul policy That's a true $100,000 in your pocket. If you're taking that same $100,000 from 401k, depending upon your tax rate, you might net $70,000. You might net even less than that.
00:23:58
Speaker
And so you're truly getting a great return on investment by it being tax-free. And having that peace of mind for the future that you don't have to worry about, Uncle Sam, in your retirement plan huge.
00:24:12
Speaker
is huge Well, every illustration I run, Marissa, with my agents like yourself, I show the four scenarios. I show them Kaizen. The next part, let's let's do this without borrowing any money and just do a life insurance policy without the borrowing.
00:24:26
Speaker
And then the next thing, let's put it in something that's after tax savings account or something like that. And then let's put it in a tax deferred vehicle, like an IRA or something. And I lay all four of them right next to each other and let you pick up which one does the best.
00:24:42
Speaker
And that usually works out with the Kaizen because of, you just said it, because of all the tax advantages. Okay. But one thing I want to get across Marissa is that not everybody can afford premiums for Kaizen.
00:24:56
Speaker
All right. And not everybody wants to be that aggressive. I have a lot of clients too. They want to do this concept, put money away. They want to not pay taxes on the growth and they want to get it at it tax free.
00:25:08
Speaker
That's been
Life Insurance for Legacy Planning
00:25:09
Speaker
around. We've been, I've been doing them for 35 years. It's called LIRP, L-I-R-P, which is life insurance retirement planning. And I have some folks that will put five or $10,000 a year away for five, eight, 10 years, and then start taking income out. I do a lot of them illustrations all the time too.
00:25:29
Speaker
Okay. A bigger one right now, it's called the GWT, not acronyms in our business, but again, great what the great wealth transfer, that's where parents or people like myself, maybe I'm too old to do it, but I can do these on my children or my grandchildren.
00:25:47
Speaker
I mean, I had a gentleman, a pharmacist here that he had a 19, a 20 year old, both in college and 22 years old, he put $20,000 on each of them for five years.
00:26:01
Speaker
And again, based on 6%, they were going to get about ah close to income at tax-free, and he was putting 100,000 on each them.
00:26:13
Speaker
so you take three hundred thousand times twenty six years about seven and a half million tax-free and he was putting a hundred thousand on each of them He was a pretty well-off guy, but, uh, again, it just worked so beautiful for him.
00:26:27
Speaker
And the way they qualified, the, the kids had to qualify health wise, but financially dad and mom had to qualify. And he had three, 400,000 of income net worth of about four or 5 million. So he qualified and everything was fine.
00:26:43
Speaker
I wrote them on a Monday morning and they were all issued and everything was ready Friday afternoon already took five days, but, uh, And the referrals he gave me, Marissa, were just great because of all the advantages I'm talking about.
00:26:57
Speaker
But please, anybody's even interested in this, give you a buzz and let's run an illustration. doesn't cost anything. You can do all the what if-ing if you want. And if they really want to go in and play around with this, Marissa,
00:27:10
Speaker
there's an You can send them and they can go in and do everything. They can investigate everything. They can get 98% of their questions answered and do their own illustrations using their amounts of money just to see what that will do.
00:27:25
Speaker
If they're even interested in that, get a hold of you and we'll make sure we get them the email. Yeah, because you know there's multiple routes that we can take this. Like you said, the tax-efficient wealth transfer for grandparents and parents that they can fund for their children or grandchildren.
00:27:42
Speaker
and then there's doing it for your own retirement plan. and then... you know If we don't want to look at the bank leverage, maybe if we just want to look at a couple thousand dollars a year, that's what we can afford and that's what makes sense for us.
00:27:55
Speaker
Or we need income sooner than the 15-year mark. We can also look at that traditional fixed and index universal life policy, which lot of our clients have already taken advantage of. But if any of that is appealing or if you want more information on this Kaizen using the bank's money,
00:28:13
Speaker
to benefit your future retirement wealth transfer legacy plan. And using that as leverage, if you have questions on that, by all means, reach out to us.
00:28:24
Speaker
Go to our website, union-financial.com. We can schedule a phone call. And we have Marty as our resource at Asset Marketing to help us run these illustrations. And to answer any questions that I might not be able to answer, i have another resource for you.
00:28:40
Speaker
And that's been a game changer. Again, with Kaizen and things like that, I mean, there's a reason it's called life insurance. Use it during your life, okay? And you can't find a better vehicle if you want to leave a legacy to your children or your heirs or charity.
00:28:57
Speaker
That's the best vehicle out there. Do that all the time. People leave lots of money. Uncle Sam gets none of this. So Uncle Sam doesn't want... want want you guys to watch in this video with Marty involved. know he He doesn't like me. I pay enough taxes during the year, so I don't need to give him more at the event of my death.
00:29:18
Speaker
Yeah, I remember you told me the
Conclusion and Final Thoughts
00:29:20
Speaker
four bucket concept that when it comes to legacy planning, there's the four buckets your money can go. You can spend it all. You can give it to your heirs. You can give it to charity. Or if you don't plan properly, it can go to the IRS.
00:29:33
Speaker
And If you don't want the majority of your assets going to the IRS, let's have a conversation. Let's utilize these great strategies that exist. And that's why we wanted to put out this podcast, because not enough people know about these amazing investment vehicles that are out there. And it's our job to spread the word and to educate the public on this.
00:29:55
Speaker
I'm a pretty good advocate. I love life insurance. I hate delivering death claims, but But, you know, I've seen what it's done for families, Marissa, and it's just ah probably the bleakest moment in their lives, which you're the one thing that gets them back on track and puts kids through college, pays off houses, gives them income.
00:30:16
Speaker
So, again, i won't get too mushy on this, but that that's the part that that motivates me for forty over 40 years of doing this. That's about all I have for today. I'm sure we'll have you on a future episode because you're always a wealth of knowledge. I appreciate you taking the time today. And for everyone that is watching, like I said, head to our website if you want to schedule a call or a meeting or just have a couple follow-up questions.
00:30:42
Speaker
And make sure to tune in every other Thursday for a new episode of the Future of Finance podcast. I'm your host, Marissa Wood. Thank you, Marty Willenberg.
00:30:53
Speaker
And we look forward to helping you live a better financial future.
00:30:58
Speaker
investment advisory services offered through brookstone capital management lc a registered investment advisor bcm and union financial services are independent of each other insurance products and services are not offered through bcm but are offered and sold through individually licensed and appointed agents The opinions expressed by Marissa Wood and guests on this show are their own and do not reflect the opinions of this radio station. All statements and opinions expressed are based upon information considered reliable, although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Investments involved risk and otherwise stated are not guaranteed. Past performance cannot be used as an indicator to determine future results. Any strategies mentioned may not be suitable for everyone. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for you. Before acting on any information mentioned, please consult with a qualified tax or investment advisor to determine if it's suitable for your specific situation. This program is designed to provide accurate and authoritative information with regard to subject covered. Indexed or fixed index annuities are not designed for short-term investments and may be subject to caps, restrictions, fees, and surrender charge as described in the annuity contract.
00:32:09
Speaker
Guarantees are backed by the financial strength and claims paying ability of the insurer. Please refer to our firm brochure, the ADV 2A, item 4, for additional information. Any comments regarding safe and secure products and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products.
00:32:28
Speaker
Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered by Brookstone.
00:32:45
Speaker
The Kaizen strategy is dependent on the client making contributions for the first five years, therefore not defaulting on the policy, which could result in policy lapse and surrender charges. The client will not have access to the policy, the cash values, the death benefits, or the living benefits until the loan is repaid and the assignment is released.
00:33:00
Speaker
The lender has the right to discontinue funding new premiums, exit the market, or to demand loan repayment based on the terms and conditions signed by the master trust. See the master trust documents for additional information. There are some exceptions to this rule. Please consult a tax professional for advice concerning your individual situation.