2023 0608 – BetterWealth – How To Supercharge Your Retirement with Annuities & Life Insurance | Tom Hegna and Caleb Guilliam – YouTube

  • Tom’s Biography
    • MetLife
    • New York Life, Annuity Wholesaler, Retirement Income Push – Income from Annuities – SPIAs and DIAs – Boring Products
    • TH: Mortality Credits – Moshe, Babbel
      • Academic World – Nobody Know
    • TH: PBS – Don’t Worry, Retire Happy
      • Take what learned at New York Life and Bring it to a broader audience
    • CG: People think Annuities Bad
    • TH: No fees in SPIAs and DIAs, there are fees in a Variable Annuity. I own 11 income annuities – David Babbel had 14 mostly in Roth IRA’s. You can’t say that Annuities are bad
    • CG: Cash Flow
    • TH:
      • 2022 – Report – Ernst and Young – Benefits of integrating insurance products into a retirement plan –  [Link to Download – 18p]
      • 2005 0727 – WSJ – The Secret to a Happier Retirement: Friends, Neighbors and a Fixed Annuity, By Jonathan Clements – [link]
      • University of Chicago – Moshe-?
      • Happiest people in retirement – Freakanomics
      • FPA – Patrick – Financial Planning 
        • People live longer, 
    • CG: Sometimes Annuities get a bad rap
      • What are the downfalls for consumers?
    • TH: Annuity is for retirement, not for a down payment for a house, college education. Annuities may not be liquid. Some Annuities don’t have surrender charges.  Don’t put all your money in there. Guaranteed paychecks, Guaranteed playchecks.
    • CG: Life Insurance
      • Dr. Wade Pfau
      • I don’t always understand everything, Book Report
    • TH: Early days of selling BTID, Buy Term and Invest the Difference, Military, 5-pay whole life.
    • 15 – TH – My policy = 50 yo, 5 million, 220,000 premium. With Whole Life policy, it is not an expense, it’s an asset on your balance sheet that does better than bonds, it’s done better than bonds for the last 40 years.
      • I’ve been moving my wealth into cash value life insurance
      • taxes in the future
      • Switches you can flip
      • Life Insurance band wagon
      • IUL vs WL debate – I stay out of that
      • I’m a whole Life guy
      • I was the Variable Life Product Manager for MetLife
      • Universal Life – Weaknesses and Strengths
    • CG: Why is Life insurance and Annuities a better Bond Alternative
    • 17 – TH: 2016 0615 – NAFA Annuity Outlook Magazine [WinkIntel] – The 60/40 Portfolio is DEAD! Long Live Life Insurance and Annuities!, by Tom Hegna  —  [link]  —  [VIDEO-YouTube-04:50]
    • 18 – TH – Life Insurance and Annuities vs Bonds –
      • Life Insurance either goes up or stays the same, they don’t go down
    • CG: I’m shocked how you guys are talking about this.
    • 19 – TH: Don’t follow the masses because sometimes the m is silent.
    • CG: Does your advice change for entrepreneurs, younger people
    • 23 – CG – Advice / thoughts for the future
    • TH: Very Concerned, 100% problem, I could fix Social Security in 15 minutes, I don’t have a solution for Medicare.  Generational Warfare. Work from Home, getting back to the office, Golf, Whacko world right now,
    • CG: US Reserve Currency
    • TH: Bitcoin has a chance, 1% of Portfolio, article on Face 2-3 years ago – Nothing Burger, smart people are saying it might be a good thing
    • CG: Ken Keys-? – Social Security not easy to fix
    • TH: Moving the Social Security Date later for future generations
    • CG: I think you are Fiscally Conservative. Thoughts? – Healthcare is a disaster Socialized Medicine, Solutions vs Talking Points
    • TH:  I don’t want to get into politics, but… When Obamacare came out my premiums tripled. So, it wasn’t insurance, it was prepaid care.  
    • CG: – presentation – You want to be a Millionaire – writing a book –
      • 2023 – Book – Tom Hegna’s Who Wants to Be a Millionaire?, by Tom Hegna 
    • TH: my lane is retirement income, how simple it is to become a millionaire today. depreciating vs appreciating assets. takes time, not quick.
    • 37 – TH: Young People, Military, big company, Life Experiences, get off phone, get off tiktok, talk to people with grey hair, you might learn something, institutional knowledge
    • CG – The truly great people want to make an impact, 
    • TH: Jack and Gary Kinder, Joe Jordan, Ted Kilkusky (sp-?)
    • 38 – Pickleball
    • TH: Webinars for Companies, Agents – Multiple revenue streams, [Bonk: sounds like MLM]
    • 41 – $10 headset
    • 42 – Legacy Question
    • TH – Character, Focus on others, Zig Ziglar

Tom Hegna

2010s

2020s

  • Many people increasingly like the idea of paying taxes now on savings for retirement knowing they will not have to pay taxes on the growth or the distribution of that savings.
  • The most common financial vehicles that do that are a Roth IRA, tax-free municipal bonds, and cash value life insurance.
  • ⇒ I like to say it this way, if you were a farmer, would you rather pay tax on the seed or the harvest?
    • I think almost every farmer would rather pay tax on the seed. It works the same way with money.

2013 – MDRT – How to Use the Low-Interest Environment to Drive Life Sales, by Tom Hegna, at MDRT Conference – 18p

  • DHK – [David Kinder] – I don’t know of a single agent who is widely known in the public’s eye about the good that they do with life insurance and annuities.
    • Sure, there are plenty of internal industry heroes – John Savage, Ben Feldman, Burt Meisel, Van Mueller, Guy Baker, Mehdi Fakharazadeh, and more… but no one who seems big in the public eye and mainstream media.
    • The closest that we have, are the annual celebrity spokesmen for Life Happens… and Ed Slott who mentions the tax advantages of life insurance and annuities in his annual “Retirement Roadmap” specials on PBS.
    • I think Tom Hegna, CLU, ChFC, CASL is starting to become that agent though. Don’t Worry, Retire Happy with Tom Hegna | Don’t Worry, Retire Happy with Tom Hegna | Shows | KCET

2015 0304 – insurance-forums.com/community/threads/primerica-guarantees.73077/page-3

  • 2023 0905 – Cody Askins – Tom Hegna’s Advice On How To Become A Millionaire Selling Insurance! (Cody Askins & Tom Hegna) – [VIDEO-YouTube-27:02]
    • CA – wrote the foreword to Toms new book – Who wants to be a Millionaire?” 
    • 3 – Joe Jordan – MetLife – Annuity
    • 20 – TH – For 30 years I was on the road 200 days a year
      • always big events that will pay to bring in the gun
    • 22 – Orange – Branding
    • 23 – TH – Activity – 7-10 Apps a week – Plan for Fallout [Chargebacks]
    • ……………………
  • 2022 0914 – LIFE180 – Where Indexed Universal Life Insurance Works | Single Pay IUL – [MEC] – [VIDEO-YouTube-23:08]
    • 11:30 – Trillions sitting in Savings Accounts.
    • 11:30 – Chris: Companies don’t teach Infinite Banking, because it’s not as profitable for the company.
    • 13 – Danny: LTC – This is where this product shines. Tom Hegna. Individual LTC policy – increasing premiums.
    • 15 – Chris: I love everything Tom Hegna says. Solid Gold.
    • 17 – Danny – Maximize their Gift – Legacy – 
    • 18 – Chris: Many people trained as
    • 18 – Danny: I learned from Tom Hegna and Van Mueller. These two wrote the forward to Danny’s book.
      • Van taught me about MEC’s.
    • 22 – Chris: 

John Savage

  • The Financial Advocacy Podcast – John Savage on A.L. Williams (now Primerica) in 1988 – [VIDEO-YouTube-01:13]
    • John Savage, CLU puts the A.L. Williams “attacks” in perspective.
    • Replacements, Columbus Mutual Permanent
    • Isn’t that good.
  • 1978 – MDRT – John Savage – Selling millions in life insurance in a month — an MDRT classic – [VIDEO-YouTube-04:33]
    • 03:20 – People don’t buy insurance, people buy people.
    • 04:20 – I failed a long time in this business
    • 04:25 – For all you young people… All you have to do in this business is last.
    • People don’t ask to buy insurance, but they want to buy what it does and they want to buy from people they trust.

MDRT - Million Dollar Round Table

  • 1999 0724 - The Salt Lake Tribune - MDRT - Million Dollar Round Table - Utah - Doug Andrew - p7
  • 2015 - MDRT - Top of the Table - Aaron Andrew - 58p
    • p 11 - LifePro: Five Keys to Generating 300 Leads Per Week and Millions in Target Annually
    • In this powerful session, learn from Top of the Table producer Aaron Andrew how Live Abundant, a financial practice established in 1974, has created a predictable marketing system that generates more than 300 leads per week and millions in target annually.
    • Aaron will show you how Live Abundant uses a potent combination of radio, email, educational seminars and webinars to create financial predictability and prosperity.
  • Guy Baker
  • Bob Castiglione
  • Van Mueller
  • John Savage

VIDEOS - 1970s and 1980s

  • 1978 - MDRT - John Savage - Selling millions in life insurance in a month -- an MDRT classic - [VIDEO-YouTube-04:33]
    • 03:20 - People don't buy insurance, people buy people.
    • 04:20 - I failed a long time in this business
    • 04:25 - For all you young people... All you have to do in this business is last.
    • People don't ask to buy insurance, but they want to buy what it does and they want to buy from people they trust.
  • 1987 - MDRT - Bob Castiglione - Life Insurance The Heart of Financial Consulting - [VIDEO-YouTube-54:15-U]
  • 1988 - MDRT - John Savage - 1988 "Suit Up! You're Starting!" - [VIDEO-YouTube-01:04:33-U]
    • :27 - replacements - A.L. Williams
    • 35 - Columbus Life

VIDEOS - 2000s

  • 2004 - MDRT - Bob Castiglione - Creating A Wow Experience with Life Insurance  ---  6p  ---  [VIDEO-YouTube-53:30-U]
  • 2017 - MDRT - Guy Baker - Guiding clients to requesting life insurance - [VIDEO-YouTube-15:39]
    • 5 - 
    • 9 - How Life Insurance Works
      • Cost, Life Expectancy, Adverse Selection -
        • Mid-1800's - Company Bankruptcies
        • Actuaries - Box, Compound Interest, Curve, Interest Rate, 
        • "Fill the Box or pay the Curve."
  • 2018 - 2022 0323 - MDRT - Brad Brain - How life insurance keeps family fortunes - [VIDEO-YouTube-03:14]
    • [Bonk: Doesn't use "Seeds" "Harvest" - uses "Pennies" "Dollars"]
  • 2020 0219 - NAIFA - MDRT Big Ideas: Dale Martin - Selling Large Insurance Policies to High Net Worth - [VIDEO-YouTube-59:28]
    • 48 - They didn't buy Life Insurance, they bought a legacy trust. AHA Moment
      • Life Insurance is a tool.
    • 52 - Pain in the Butt
    • 55 - Probably have to stay away from the words "Tax-Free." "I call them Insured Private Pensions."
      • Qualified vs Non-Qualified, Super Roth IRA
      • I would never say "Whole Life Insurance."
        • Eventually you have to tell them it is. I'm not saying that it's a Shell Game.
    • Didn't buy Life Insurance. Bought something to help him leave a legacy for his family. 
  • 2020 - MDRT - 10 minutes of favorite sales ideas from two industry greats - [VIDEO-YouTube-11:20]
    • three buckets
    • Cash Value Life Insurance
    • We learn from our friends
    • 10 - I'd be remiss...
    • 11 - Business Card - slide across the table - name 3 people

MDRT Proceedings

  • 19xx - MDRT Proceedings - New York Life - Vanishing Premium
  • 19xx - MDRT - Swiss Army Knife - Ben Baldwin
  • 1999 - MDRT Proceedings - Richard Weber
  • 1999 - Book - MDRT - Million Dollar Closing Techniques - 
  • 2021 1208 - MDRT - Massive goals build success - [VIDEO-YouTube-03:51]
  • Many people increasingly like the idea of paying taxes now on savings for retirement knowing they will not have to pay taxes on the growth or the distribution of that savings.
  • The most common financial vehicles that do that are a Roth IRA, tax-free municipal bonds, and cash value life insurance.
  • ⇒ I like to say it this way, if you were a farmer, would you rather pay tax on the seed or the harvest?
    • I think almost every farmer would rather pay tax on the seed. It works the same way with money.

2013 - MDRT - How to Use the Low-Interest Environment to Drive Life Sales, by Tom Hegna, at MDRT Conference - 18p

FFL – Family First Life – Lawsuits

  • 2021 1227 – Letter – FTC to FFL Family First Life – Cease and Desist – 15p
    • This is to advise you that FTC staff has reviewed social media posts made by Family First Life’s business opportunity participants or representatives in December 2021.
      • We have determined that Family First life is unlawfully misrepresenting that consumers who become Family First Life business opportunity participants are likely to earn substantial income.
    • Some examples of earnings claims made by your business opportunity participants or representatives include:

2010s

  • 2018 – LC – Family First Life v. Winnett
    • 2:2018cv01275
    • California Eastern District Court
    • 05/18/2018 07/11/2018

2022

2023

2024

  • 2024 – LC – Family First Life Fenix Financial v. Parris
    • 3:2024cv00506
    • Tennessee Middle District Court
    • 04/23/2024
    • Pacer – Yes

LIAA – Life Insurance Association of America

  • Journal – Proceedings of the Annual Meeting of Life Insurance Association of America
  • In addition, a special LIAA-ALC-ILI Committee on Life Insurance Costs was formed to study life insurance cost comparison methods.

—  Robert G. Braund

1969 – SOA – Life Net Cost Comparisons, tsa69v21pt2dn59ab7 – Society of Actuaries – 34p

DSA – Direct Selling Association

  • 2025 – Direct Selling Caucus Members – dsa.org/advocacy/caucus/
    • Rep. Andy Barr (R-KY)
    • Rep. Joyce Beatty (D-OH)
    • Rep. Burgess Owens (R-UT)
    • Rep. Bill Huizenga (R-MI)
    • Rep. Gregory Meeks (D-NY)

1990s

  • 1990 – LC – Amway v Director of Revenue, State of Missouri, No. 72155 – Amicus Curiae of Direct Selling Association (DSA) – 13p
  • 1990 – LC – Amway v Director of Revenue, State of Missouri, No. 72155 – Amicus Curiae of Direct Selling Association (DSA) – 13p
  • 1991 – LC – Debi Eyerman vs Mary Kay Cosmetics
    • No. 91-3083, United States Court of Appeals – Sixth Circuit –
    • Amicus – DSA – In Support of Mary Kay Cosmetics – 13p
      • DSA is concerned that Appellant and her amici curiae
        are seeking to expand Ohio’s employment discrimination law beyond the scope intended by the legislature. Specifically, Appellant attempts to stretch the scope of the employment law to cover nonemployee independent contractors. This could have serious repercussions for direct sales businesses and independent contractors by causing confusion about the scope of numerous employment-related statutes which, in the past, have not applied to independent contractors.
  • 1996 0422 – LC – Shaun Webster and Robert Ligon vs Omnitrition International, Inc., Jim Fobair, Roger Daley, Charles Ragus and Jerry Rubin – [Herbalife] – 

2010s

  • 2015 1030 – Letter – DSA to Direct Selling Caucus – Congress – 1p
    • Recently, you received a letter and may have also noticed an op-ed in The Hill newspaper from Robert FitzPatrick representing a group calling itself the International Coalition of Consumer Advocates (ICCA).
    • His well-documented agenda of fear mongering and lack of credibility on direct selling issues has remained constant for years.
      • If consumer protection was truly at the heart of ICCA, it would attempt to reach the general public where it actually resides, not where investment pros go for insight into billion-dollar decisions.
      • Furthermore, FitzPatrick is critical of short sellers, which he says harm the public interest, yet it is he and his ICCA cohorts who are partially responsible for aiding the irresponsible tactics of Pershing Square.
  • 2017 – DSA – Academic of the Year – Brenda Cude, Professor and Undergraduate Coordinator at University of Georgia, College of Family and Consumer Sciences, Direct Selling Association – p21
    • As the recipient of DSEF’s Academic of the Year honor, the Foundation recognized Brenda Cude for her outstanding service to direct selling through her leadership, personal involvement, teaching and research.
    • Cude has helped DSEF broaden the understanding of the direct selling channel as a powerful go-to-market strategy, distribution model and entrepreneurial option among DSEF academic fellows, university students and the public.
    • 2017 – DSA – Looking Beyond: DSA Annual Meeting 2017 Wrap Up – issuu.com/directsellingassoc/docs/am2017wrapupbookletemail

2020s

  • 2020 – LC – CC Just Energy Marketing Corp. v. Davina Hurt and Dominic Hill
    • No. 20-1093
    • Supreme Court of the United States
    • 2021 0315 – LC – Brief of the Chamber of Commerce of the United States of America, National Federation of Independent Business, and the Direct Selling Association [DSA] as Amici Curiae in Support of Petitioners – 27p
  • 2023 0301 – Letter – DSA to Member of Congress – 2p
    • On behalf of more than 7.3 million active direct sellers who sell to 44.6 million preferred customers, discount buyers and many other consumers, we oppose re-introduction of the current version of the Protecting the Right to Organize (“PRO”) Act.
    • Direct sellers contributed $42.7 billion in estimated retail sales to the American economy in 2021 Sales increased 6.4% from 2020-2021 and have grown almost 22% since 2019.

1974 0710 – GOV (Senate) – Pyramid Sales, Frank E. Moss (D-UT)

  • (p1) – Frank E. Moss (D-UT) – Today we will look into the strange and disturbing world of the fast buck pyramid sales scheme.
    • Untold hundreds of small investors have been bilked out of hard earned savings by the fast talking operators of these get rich quick schemes. 
  • (p9) – Securities & Exchange Commission v. Glenn W. Turner Enterprises Inc.
  • (p9) – The non-disclosure charged Is that it Is mathematically impossible for each participant to do so. See Blachly v United States .380F.2d 665 (5th Clr.1967).
  • (p11) – Third. lines 12 through 16 of the amendment are objectionable for vagueness. With the acceptance of this amended language, counsel for the United States would be forced to ask a jury in a criminal prosecution to find beyond a reasonable doubt that there is a “reasonable probability” that compensation will be derived “primarily” from recruitment of others. 
  • (p11) – Fourth, the last four lines of the proposed amendment on page 12 of the IFA Statement fail to distinguish between sales to consumers and sales to other participants and, therefore, it is objectionable for the reasons mentioned earlier.
  • (p11) – endless chains
  • (p15) – 
  • (p16) – Senator MONDALE (D-MN)  – However, their efforts have frequently been frustrated by neighboring States with no law concerning these organizations or no enforcement efforts. Pyramiders simply flee to States with weak or nonexistent legislation.
    • The bill imposes criminal and civil penalties on those fraudulent pyramid sales operators who prey on the public with unfounded presentations of future earnings through endless chain promotions.
    • Pyramid sales schemes are defined by  S. 1939 as including any plan or operation for the sale or distribution of goods, services, or other property which contains any provision for increasing participation in the plan through a chain process.
    • This chain process is further defined to include payment of considerable compensation for introducing one or more additional people into participation in the plan each of whom receives the same or  similar right or opportunity to receive compensation when a person introduced by the participant introduces one or more additional persons into participation in the plan.
    • This definitional language isolates the fraudulent pyramid sales operations without affecting the hundreds of legitimate companies which do business using commission arrangements or franchise organization in which the primary aim is sales to the consuming public rather recruitment of additional persons into an endless chain.
  • (p17) – Senator Moss (D-UT) – I wonder if I can interrupt. Do you know of any organized opposition to the basic thrust of this bill? There may he questions on the definition or something like that.
    • Senator MONDALE (D-MN) –  I know of none. More than that, there is a very strong sense of urgency by all concerned, and I think the attorneys general will spell out why we need legislation of this type to help them and to help the Securities and Exchange Commission and other agencies that have been frustrated in attempts to eliminate this pernicious and widespread practice.

No Premium Due

  • Commissioner Willis (DC) said the trouble with disclosing that the premium might at some point “resume” is that the premium never stopped.
    • It is misleading to make a consumer think the premium is not being paid.
    • [Bonk: Vanishing Premium, Policy Mechanics, Cash Flow, Work)

1994-3, NAIC Proceedings

1983 0206 – Fort Lauderdale News – Guardian – Vanishing Premium – LifeGuard Whole Life – p78 – Newspapers.com