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Thread: Living Balance Sheet

  1. #1

    Living Balance Sheet

    Is it as good as Guardian says it is? The Guardian agents and managers I've talked to in the past practically say that everyone else is doing it wrong with needs analysis and similar things. "No one else has what we have" and so on.

    Is it that much better, if at all, than what other big Mutuals (or others) use? Is there anything that is actually better?

  2. #2

    Re: Living Balance Sheet

    Living Balance sheet is proprietary to Guardian captive agents and built on the philosophies of LEAP and Circle of Wealth, but the interface uses the E-money platform.

    Yeah, it's a little different, but to say that "no one else has what we have"... is a bit of exaggeration.

  3. #3

    Re: Living Balance Sheet

    Living Balance sheet is proprietary to Guardian captive agents and built on the philosophies of LEAP and Circle of Wealth, but the interface uses the E-money platform.

    Yeah, it's a little different, but to say that "no one else has what we have"... is a bit of exaggeration. That's what I was thinking. I think Guardian started using it about 10 years ago, or maybe a little more. Maybe it was more of a difference maker back then?

    So Living Balance Sheet isn't going to be that big of a game changer compared to what Guardian's competitors use? Do some agencies or offices with Mass, etc. maybe have something that they use that isn't necessarily carrier specific? Or do they all pretty much use the same thing?

  4. #4

    Re: Living Balance Sheet

    LEAP is used by Penn Mutual (owned by Penn) and also used by MassMutual - if agents pay for it. They have a discount program for these agencies... and not all agencies support it. Ohio National and Mutual Trust Life also have support programs for them.

    Circle of Wealth by MoneyTrax... I don't know if it is "endorsed" by other career agencies. It is simply LEAP with a different flavor.

    The difference with Guardian is that it is proprietary to Guardian and it has its own client interface - which makes Guardian clients far less reluctant to leave their Guardian agent. It's a client and agent retention tool if they have something that no one else has. In that respect, it is different.

    But don't assume that everyone at every agency is using LEAP, Circle, LBS, or whatever. Your prospects and clients won't know and they won't care. All they care about is if you can help them to solve their problems in a way they can understand.

  5. #5

    Re: Living Balance Sheet

    I have never met one person, client/insured, that has used these programs successfully for a long period of time. Have met several people that started them but stopped and felt like they were mislead.

  6. #6

    Re: Living Balance Sheet

    Search engines don't help much either. Try typing in Google: "Lifetime Economic Acceleration Process" and one of the next suggested words is "scam". The same thing happens with Circle of Wealth. Both end up showing articles written by people who don't understand the power behind the concepts.

    Plus, if the agent doesn't provide a written plan, stay in touch, or conduct annual reviews... then of course they will feel misled. And with plenty of advisors who don't understand, it's easy to feed into that fear and tear the whole strategy apart.

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  7. #7

    Re: Living Balance Sheet

    Search engines don't help much either. Try typing in Google: "Lifetime Economic Acceleration Process" and one of the next suggested words is "scam". The same thing happens with Circle of Wealth. Both end up showing articles written by people who don't understand the power behind the concepts.

    Plus, if the agent doesn't provide a written plan, stay in touch, or conduct annual reviews... then of course they will feel misled. And with plenty of advisors who don't understand, it's easy to feed into that fear and tear the whole strategy apart. No doubt, staying in touch is really key with any program or plan of this type. And with so many agents that fail in this business, many end up having no agent. That's one reason why there are still so many blown up UL policies from the 80s that sounded like such a good deal at the time.

  8. #8

    Re: Living Balance Sheet

    One would think if these plans were so advantageous, tons of folks outside of the life insurance entities would be praising them. I know three "big producers" of these concepts busted for fraud.

  9. #9

    Re: Living Balance Sheet

    Perhaps. But there are THOUSANDS of agents that use these systems/concepts. Granted - some have gotten in trouble with some of these "moves", particularly if they involved liquidating securities or dumping in home equity (both things I don't advocate or recommend) to fund a life policy. Personally, I think the complaints come out when recommendations are not put in writing and people forget why they bought what they bought.

    Part of the problem is that most life insurance companies want to profit from these concepts, but they don't want the liability. That's why they don't put the information out there directly themselves with company names & logos.

    I will say that Guardian is a little different in that it is a wholly owned and proprietary "selling system". Guardian's name is all over the 'fine print' of LBS materials, so you can't say that Guardian isn't for all the "approved" moves they recommend.

  10. #10

    Re: Living Balance Sheet

    I just want a simple retirement software that shows the benefit of life insurance without necessarily trying hard to sell IUL's or Par WL .. .something that incorporates social security income and tax implications .. tax implications of qualified plans...also how RMD affects withdrawals later on.

    I really like Retirement Analyzer .. but the issue I had is that you could not really put life insurance in the asset category ... ALthough you can still make it work but it's not really built for that ..

    I think a lot of these retirment software don't have that feature because if they do it properly . life insurance would outshine many of their other "investments"


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