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  • Writer's pictureKris Krohn

How to Use Whole Life Insurance to Get Rich

Updated: Dec 28, 2023

Rob Gill and Kris Krohn tackle the secrets of life insurance policies, and how the right policy can help you become financially free.



Kris Krohn here. Do you invest in whole life insurance? What is life insurance? Do you use it for your real estate investments? Do you use it in business? Do you recommend it? Is it good? Is it bad? 


Listen, I hear you today. I'm making a video. I'm not just gonna tell you what whole life insurance is. I'm gonna show you how I've used it the last 15 years to make a lot of money. 1, 1 1, 1 shot, not future. Go. I'm turning dreams into reality. Yeah, it's one, one shot, not future for sure. Let's go. You know, there's one person I really trust to set the record straight. His name is Rob Gill. 


The man has written over 2000 life insurance policies and I'll tell you, there's things that I hate about life insurance and then there's a rare type that I really love and Rob's the only person I've met over all these years that I actually trust to use life insurance the right way. Now if he just came in town, let's meet him.


Rob Gill. What's up Brother? How we doing my friend? How You doing.

Dude? Glad to have you here, dude, I got you here on YouTube today we're gonna set the record straight on this Whole life Insurance thing. You ready?

I'm Ready to rock. Let's Go. Boom.


I am not The guru on life insurance, but if there was one it would probably be Rob Gill. Rob, what's your claim to fame in this whole insurance world?


You Know, we've written over 20 million in premium and and what that really means, Chris, at the end of the day from a president's council, chairman's council, M D R T all's 2008 consecutive year after year, top performers, top of the council.


I don't know what any of that means, but I do know that I trust Rob above anyone else when it comes to the game of insurance. Rob, this is the question I want to answer today. How do you actually use whole life insurance to a positive financial benefit, to a positive effect to actually make money? And I think for us to do that we actually have to discuss what actually is life insurance.


What is whole life insurance? According to Investopedia, whole life insurance provides coverage for the life of the insured in addition to paying a death benefit. Whole life insurance contains a savings component at which cash value may accumulate. These policies are also known as permanent or traditional life insurance. What does that mean to me?


It means If you use whole life the way the bank does, like a Swiss Army knife where you can get a guarantee rate of return with the savings account while then taking the money out for other investment opportunities, i e real estate, now you can become independently wealthy by understanding the magic of the guarantee savings account inside the whole life policy.


So listen, I've asked Rob to go super deep today on the answer to this question, how can you use life insurance policy to actually make money? And that's what we're about to cover. But more importantly, at the very end of this video, I'm gonna share with you how you can get a free $9,000 bonus.


I asked Rob from time to time to actually give this away to people. On average he helps people save $9,000, which is super dope. Hang tight. So it's actually strange to me that I'm making this video about what is life insurance? I mean is there a more boring topic on the planet? But it does turn out that life insurance answers this question. What is it that people actually want, Rob? What is it that people want?


People want the freedom Kris to do what they want when they want, how they want without financial or time constraints. And believe it or not, life insurance is the vehicle that'll get you there faster and in a more efficient manner.


For me, the bigger question is why aren't more people becoming financially free and why don't they know about what we're talking about right now here on life insurance because Of social media, the so-called experts and the fake news that's out there, it creates a lot of noise. Aka leads to confusion.


And frankly, if you wanna understand whole life insurance and how people, smart people, the rich are using it to actually make money, it's because of what you teach Rob. Like you, you've created this, this map, uh, a financial freedom map.


You know Chris, over the years I've helped thousands of people understand money and as a result I created this financial freedom map that focuses on three things. Number one, Mastering the rules of money. Number two, the formula of money. Number three, the velocity of money.


Dude, I'm so excited about this Because most people don't understand that. In fact, a lot of that's like, oh my gosh, that's going right over my head. It's not going to check this out. Now real quick, before Rob actually breaks down this financial freedom map, will you just take a second and talk about the elephant in the room? Don't think about elephants. 


Everyone thinks that life insurance is about the death benefit and we're clearly talking about what are benefits I get every day right now by having this policy. Everyone always thinks it's about death. Is that the case? You Know, Chris, this is actually my neighbor's house when I first moved into my neighborhood back in 2005, right as we started our financial planning P practice.


And what I remember the most about this beautiful soul is he came up to me, he was so friendly, asked what I did, wanted to get to know me, and in the middle of the conversation he realized that I was doing planning and part of the planning was life insurance. And as a result of that, we discussed that he had Crohn's disease.


And I said, do you have any insurance? And he said, yeah, I have a 200,000 term policy. And I talked to him about the virtues and the strategies of whole life. Yeah dude, That guy needs way more insurance, right?


Yes dude, if I had a financial problem, I would need a lot more insurance. I Know that's what I was thinking. His family talked him out of it and four years later he died. Geez, that's a tragedy. Horrible. And there was no full replacement value of his lifetime income. And he had two kids, two boys, one in high school, one in grammar school and his wife was in her mid forties, 20 years away from retirement.


So There is a place a hundred percent for like the death benefit of life Insurance. Absolutely. But You know what we're Gonna do right now? We are going to Actually talk about the living benefit. And to do that, Rob, you gotta give us all three parts of the financial freedom map.

Let's do it.


Alright Chris, we're gonna talk about the rules of money And How it Pertains to The financial institutions who want your money on a regular and ongoing basis. They wanna hold it for as long as they can and give you back the least amount as possible through taxes and through penalties. There's something wrong. The bank won't give Someone their money. Well, I'm going to get nine now. 


By the way, this is one of the reasons why Rob and I really see eye to eye when we talk about taking your money out of your world and putting it in their world. I'm talking about 401Ks and IRAs and and annuities and all of these wealth plans that are basically, hey, you go to work and make the money and then give it to these other people to control.


And if you try to touch it, you're gonna get penalized. Instead, you've gotta find a way to say, wait, I've gotta keep some of that money for me. I gotta be the financial ninja in charge of investing, in making choices with my money.


If you keep the money in your world, very simply, if you pay yourself every single month and get used to doing that, you could then invest it and then once you invest it, you could then leverage it and have more control over it.


So in its simplest format, what you're basically saying is if you're the one that's gonna go to work and trade your time for money, then instead of hurrying to Give it up to other people, You gotta keep some of it for yourself. 


You actually have to have a forced savings plan or this PYF, meaning pay yourself first so that you actually have the ability to invest and grow your own financial life. Simply said, pay yourself first.


The second element of the financial freedom map is understanding the formula of money. Now I love this because Rob, this is where you talk all about opportunity costs and you may not know what opportunity cost is, but it's super important that you do opportunity cost is basically what is the next best option that you're missing out on because of the current choice that you're making. 


For example, if I put my money in a 401K or an IRA, then I can't now take that money and actually invest or do anything with it 'cause it's out of my hands. So I'm missing that next opportunity because of the choice that I've made. How does that apply though to this situation with like, uh, this dope looking car and this house?


Let's say if you had $20,000 and you won't see the opportunity cost of either purchasing a car Or Purchasing a house.


For example, A car is non-preferred debt, $20,000 at 6% interest means are You calling that bad? Bad, okay, So it's worth less. Non-preferred debt is like, I don't prefer this debt. Exactly. And Why don't you prefer it? Because You can't write it off and it's worth less. So every year it becomes worth less versus this is Preferred debt. Not only can you write it off, not only can you get 20% ROI on it through proper planning strategies, oh, it's gonna increase in value over time historically.


So if you get opportunity cost, let's actually dive into what financial opportunity cost is. And very simply it's somebody else earning a rate of return on your money that you're not earning because you didn't put it into a proper place.


Dude, This crazy, this is like the bank, right? You take money, you take it to the bank, and the bank pays, you 0.01%, but guess what they're doing with it? They're lending it out and they're making tons of money 40 cents in every dollar that you give.


Have you ever wondered why when you walk out of the bank they give you a dum or a sucker, you suck. But Dude, that's because they're making money on your money instead of you making money on it.


And that's exactly what's happening right over here when you compare 401Ks and IRAs to what you could be doing otherwise. Yes. So if you get that, let's now talk about financial opportunity cost because most people will put their money in prison.


Yes, they, they actively choose to put their money in jail in the form of a 4 0 1 k an i r a as opposed to putting it into another bucket here that they have access to. That gives you three to 4% without the risk of the market going down and it's coming back tax free as well. So when you look at financial opportunity costs and you specifically look at a 4 0 1 k and or an i r a money goes in with pre-tax dollars, right?


You're told it's tax free, but it's really pre-tax. It then goes in jail as you could see, and it stays there until you're 59 and a half. And when you take it out, it's in, it's on probation in the form of taxation because remember you didn't pay taxes on the way in, but you have to pay it on the way out.


The bottom line is lost opportunity cost looks like a bucket that has a bunch of holes in the bottom and all your money's flying out through improper credit card interest financing, debt, frivolous spending, retirement plans, financial planning fees, noise and confusion based on chaos and opinions.


Which brings us finally to whole life insurance and what it is because on the third party, your map, Rob, you've got my favorite topic, the velocity of money. Let me tell you what financial velocity is. What if you could put money in an account that paid you three to 4% tax free while allowing you to borrow the money to do additional investing and earn money in two, sometimes three places at the same time?


This is the part that gets me maximum excited, Rob. Like the idea that I put my money here, pull it out and earn also over here, pull it out. Or bottom line is if I'm, if I'm earning money in multiple places on the same dollar, I'm feeling like a financial genius. Show us how we actually do that through these life insurance policies. Yeah, You know, this is, by the way, this is what banks do. 


It's called Tier one capital. As they loan money out to you over and over again, they're making that guarantee rate of return. So if you get the right kinda life insurance policy where you get three to 4% guaranteed by state law and by contract, and they're gonna give you a dividend depending on the carrier, of course it grows and comes back tax free. 


The beautiful part about it though is while it's growing, you could take it out, leverage it for other investment opportunities, and there in life you get to spend down your death benefit because whatever your assets are worth, spend them down knowing a death benefit's gonna replace it, which is why the death benefit is the last reason why we buy whole life, not the first.


So I've been leveraging these kind of policies for years and I've been basically dumping money into policies and then as that money is built up, I'm pulling them out and using 'em for doing things like this. In fact, you guys, if you're subscribed to my channel, you see deals like this all the time. 


This is a house in Florida and there's the address right there. I won't even, um, blip it out. Check this out. 35% annual ROI, do you know what that means? That means that you're making all your money back in three years. I've got one right here where I'm earning a 27.84% ROI, I've got one right here where I'm also earning 28.65%.


Guys, I put my money in these policies so that I become the bank on pulling that money out to buy other assets and now my money is earning in two places at once. So by the way, all these benefits, they are real and they're legit.


My Friends personally, this is what I call a life insurance bank account. Rob will call it a cash value dividend paying life insurance policy. And I've set up several of them.


Here's a quick example on how to use the velocity of money when it comes to financing a car instead of through the car company. You do it through your life insurance bank.


Traditionally, if you were to buy a car, put $20,000 or borrow $20,000 at 6% over five years, it may cost you $22,545. Now that car five years later is worth about 10,000, right? When you finance it through your life insurance bank. 


And this is based on rating and and gender and everything else, but conceptually speaking, if you borrowed 20 to pay the car off and made those same payments over five years into your policy, the car will still be worth 10.


The money will be worth 23,400. So you would've gained $855 of recovering the lost opportunity cost of financing the car versus doing it through your own life insurance bank.


Bottom line is the life insurance policy. It's almost like it becomes a bank that you can Leverage from For making different financial choices. And you're always gonna be better off doing that in most situations, really, rather than actually doing traditional financing or working through those financial institutions that wanna keep your money captive. Yes, you Just gotta own the process. 


Everything you do is long term, but staying specific to the process, all good things begin to happen. And now you can begin to make money on money while you're buying different assets in different asset classes.


Now, This one's mine, listen, check this out. If you're earning 4% as an example in your insurance policy, and then you can access the money and for example, put it into a real estate deal, like I was just showing you, these are actual real life hot deals that I'm in the process of buying right now.


Let's just say theoretically that I'm earning 25%, I showed you deals where I'm earning 28%, 35%. If I'm earning 25% and then I take that cash flow and I put it back in my policy, then my policy grows. I continue izing it. 


It's actually paying for the policy. This, this right here, when I finally understood this, I had to get this set up for myself. And I wanna tell you right now, setting up your own life insurance bank account, do you know what it really costs? It costs free 99.


That's a dumb way of saying it's free. It doesn't cost any money. In fact, click the link below if you literally just want to talk to someone on Rob's team and have an expert help build you one of these policies, it doesn't cost you anything to do and it's the perfect way to save money for future investing, for money, for business deals, or even financing debt.


Absolutely 100%. And by the way, create your own banking strategy by mimicking what the bank does through the proper kind of life insurance that allows you to keep funding it over and over while your assets are growing.


So Chris, utilizing the life insurance strategy is basically gonna give you the ability to have multiple returns off of the same dollar. Optimize your investments, pay off your debts faster if they're non-preferred, generate wealth, not only now, but for the next 30 to 50 years.


Listen, I wanna thank you for watching today's video. If you're not a subscriber and you enjoy this information, make sure you do subscribe and let's just bring it home. If you wanna understand how to use life insurance to grow your life financially, number one, open your own life insurance bank account. It's free, it doesn't cost money. Put your money and save it there versus a normal savings account. 


Number two, find a business deal, find a real estate deal, find something that makes sense. Number three, borrow money from that policy. Use it to support your investment. Step four, make money and then pay the policy back. And boom, you're now doing something that some of the wealthiest and smartest financial people on the planet are doing today. But you know what, Rob? This is available to who? Everybody.


Everybody, Everybody. Anyone That's saving money should actually be doing this. Yes, over 18. Yeah. Now check it out. By the way, if you are over the age of 18 and you're saving money on a regular basis, then I want you to click the link below where you can actually sign up for free. But Rob, this is the cool thing I asked him to do.


This is Rob's $9,000 bonus. Tell us about this cashflow analysis that comes with the free life Insurance bank account.


So my team has done over 25, 20 3000 cashflow analysis and the people that took advantage of the program on average received the $9,000 savings that were applied towards alternative investments that were already in their world that they didn't even know existed. Now You guys need to understand something. You're not paying for this, you're literally going to suck their time out. 


You're going to just get a benefit and a value for free. That's one of the cool things that comes with being a subscriber on this channel, is I'm here to awaken your financial genius. And Rob, I want to thank you today for your knowledge, your expertise, friend. I hope that you have a greater understanding of what life insurance is and how you can use it to your own personal financial gain. 


Mad props to Rob for taking something super complex and making it super simple. And if you wanna know how I became financially free in my mid twenties, if you wanna know how you can follow the same path and get a different financial freedom map from making money in real estate, click the video over here. I'll take you in a limousine on a journey through my first several purchases, how much money I made on those deals and how you can do the exact same thing.

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