2023 0428 - AlwaysMarco - PHP - People Helping People
- 2023 0428 - Always Marco - Debating A Member Of PHP ---- [BonkNote] --- [VIDEO-YouTube-02:05:27]
- Alejandro Aguilar, 33yo, with PHP since 23yo, Bakersfield, Chairman of Distribution Office
- ref: WFG Videos
- AM: I am anti-mlm, networking marketing. Scam vs Scammer. How did you get into PHP.
- A: 60% I disagree with you, 40% I agree. You are not a troll, just saying this is crap.
- 11 - A: My Dad always had Life Insurance. I bought a 500k Life Insurance policy at age 19 working in the oil fields. I have 3 kids. Life Insurance.
- 13 - AM: Friend, WFG, getting Lured into MLMs
- [Bonk: Affinity Marketing, Bernie Madoff, Lions Club, Golf]
- 16 - A: Example - Woman, 36yo, couple of kids, NLG - 1,000,000 Death Benefit, $76 per month, National Life Group, heart attack - Living benefits, Can access 80% of the Cash Value. NLG gave her 800k.
- State Farm, Farmers, AllState -
- Life Insurance isn't their strength, they sell it like a side of chips.
- Don't customize Life Insurance policies
- Medical Bills
- Nobody to teach them in their language
- [Bonk: Connect: LC - California - Hmong?]
- I failed my test for a whole year.
- Insurance Retirement Plans,
- 401ks, 403bs, IRAs, - when they
- WFG - PHP - more - we insure people's money.
- Example: Woman - lost 60k - then we insured her money.
- AM: I believe that Life Insurance is a good thing, what I don't believe is - endless chain of recruiting.
- 20 - A:
- AM: 99% of people will lose money in MLMs, Zoom Calls - Rags to Riches story, That pitch is misleading, doesn't show the reality of the situation - most people lose money.
- A: Network Marketing is a distribution method. Wholesale, Resale, Digital Marketing, Direct Selling, email selling, cold calls,
- Network Marketing - MLM - Not everyone company works
- Elephant
- WFG - Primerica
- Beginning of Network Marketing - Amway, Primerica - Art Williams,
- AM: Ends with Buy Term and Invest the Difference
- A: In 10 years Primerica was selling more than Prudential and New York Life.
- AM: I don't think that is true. - not due to having a superior distribution system.
- [Bonk: Disintermediation,
- AM: Recruiting, Training Process - 100% of commission for non-mlm life insurance companies.
- PHP, WFG - Low Commissions - need to be the greatest sales person in history to succeed without recruiting
- 00:27:00 - A: 30% vs 100% -
- College - Stocks and Bonds, not insurance
- Banks - Stocks and Bonds, not insurance
- Most people in the financial industry are Stocks and Bonds
- Example - 1,000,000
- Stocks and Bonds - Lose Money
- Insurance - Don't lose money
- Hard to find a company that will teach the financial services and financial industry - Safe and best way for clients
- - have stockbrokers, high fees
- My Clients - Protect money from Stock market, not paying taxes, money is insured - we are the ones who teach that
- I make 40-50k per month
- 31 - Recruits
- I train them
- 100% companies don't train
- Selling isn't easy
- need to pass a test
- <MORE>
- Insurance companies incentivize us
- Beat company x
- White, Hispanic, Indian,
- Recruiting
- 34 - A: How many of your 10 friends are hard working?
- AM: I don't know if I even have 10 friends.
- AM - Supply and Demand - Value
- More recruits = More sales
- Company vs Agents
- Insurance - Most people set it and forget it.
- [Bonk:
- Churning,
- If I could show you a way.... 2x same amount of money.... Target Premium]
- 199x - GOV - Consumer Reports - purchase is once in a lifetime.]
- <MORE> - AM - MLM - Cannabalizing their own territory, McDonalds comparison,
-
- 42 - A: How much experience do you have in sales?
- 43 - I have 100 licensed agents in my office that I train every Tuesday and Saturday.
- People don't know about Life Insurance. People aren't looking for Life Insurance or to protect their 401ks.
- I have to be educated about my product, know how to sell, Laws and Regulations, Insurance industry, paperwork
- Friends are families are not the people who are buying your product.
- Friends and families can send referrals
- 50 - Chargebacks / Commisisons -
- 53 - Selling to family, Trainer vs Recruit - Appeal to Authority Fallacy, Herd Mentality
- 57 - 3 types of Training
- Hands On
- Classroom - Tuesday (Sales), Saturday (Product-How the Policy Works), Laws and Regulations
- 58 - MLM - Duplication
- Personalities of MLM people
- AL Williams (was in Amway, then started AL Williams (Primerica)
- Patrick Bet-David (was in WFG, then started PHP)
- A - Alejandro - 9th largest organization in PHP, I was an oil field worker, who would get into fights, somebody mentored me, part-time = 100k, Woman = 80-120k per month,
- Duplicating people to do things that create harm
- Example - new recruit - 30% commission, How much life insurance would I have to sell in a month to make $900 per month.
- Strong Assumptions - Aggressive
- Why would I work for PHP for 30% when I could go anywhere and make 100+% without having to recruit. 11 levels
- Alejandro - I feel like I am doing the Devils work.
- How is this not a scam?
- A: Freedom of Equity Group, FFL -
- A: There's math behind Insurance, recruiting, bonuses, incentivised to recruit,
- ⇒ A: Commissions for Life Insurance - State Farm, Farmers, AllState, Prudential - 5%
- you just said other insurance companies get 100%
- 11 Levels - How is that not a scam?
- Commissions -
- State Farm - Farmers - AllState - 5-10%
- 100% = No Training
- Pros and Cons
- Pro - State Farm - Little Commission / Salary
- Pro - PHP -
- AM: I make 500k per year, 100k overhead
- Compared to his Dad - Real Estate, Restaurants
- Develop and Mentoring agents
- Non-Tangible industry
- Teach how products work
- Companies paying 100% don't train.
- AM: Companies paying 100% do train people. Example: Experior-?? - Canadian-??
- AM: People make money on the backs of others who lose. you should go to a 100% Life Insurance Company.
- A: I know that I would make more money.
- 01:28:00 - A: 150k - Personal Sales, 350k-400k - Agency and Overrides. If I didn't sell anymore I would still make 350-400k. I get paid 86%
- <MORE>
- A: More money in Recruiting than Sales
- Real Estate / Franchising
- AM: Equivocation Fallacy -
- Drinks vs Shots
- MLM - Recruits - Ranks, Titles, Commissions, purely a products of recruiting -
- Saturate the Market - A: What do you mean by that? I've never had that happen.
- A: Creating the need for Life Insurance.... [Bonk: Life insurance is sold, bought]
- AM: Harm to Recruits, 19 year olds, most people live paycheck to paycheck.
- AM: The Life Insurance industry doesn't need more Life Insurance Agents.
- A: Insurance Agents are in the 50s-60s and white
- AM: Everybody knows what Life Insurance is. Supply and Demand
- A: The industry needs 500,000 more agents. 400,000 agents in US currently.
- 01:49:00 - A: I am not going to be training after 2025.
- 01:50:00 - Recruiting - 5x5x5x5x5x5x
- 01:55:00 - MLM vs Pyramid Scheme vs Ponzi Scheme
- A: Pyramid Schemes don't have products
- AM: Yes they do.
- A: You are full of shit. I agree with you 40% of the time. The things that make us us look bad.
- FTC - consumer.ftc.gov/articles/multi-level-marketing-businesses-pyramid-schemes
- Bad Apples / Bad Name
- AM: That sounds a lot like what PHP does.
- AM: MLM - shampoo - why would anyone buy from MLM when you can go to Costco etc.
- AM: Why would I buy insurance from PHP when I can go online and buy it.
- A: MetLife - in Store - Kiosks - Sell Life Insurance - Failed Miserably.
- People have questions, they are not sure of what product.
- Big Accounts - Sikh guys - 250,000 into life insurance policy, taking out 150,000 loan, buy big trucks, company still paying on interest on it, Tax-Free and safe.
- Agent Education, agent commissions
- I'm not like the other companies, I don't get paid to recruit.