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- [00:00]
A
I got into insurance 22 years ago and it was out of really desperation. I was dead broke and I was really struggling in life and I found my purpose in insurance and then I found myself a little bit immature and I didn't have the personal development and the disciplines that I have today. Philip lundstedt is a U.S. marine Corps veteran turned visionary entrepreneur, best selling author and CEO of ProCare Consulting. With over 16 years in the insurance industry, he's on a mission to revolutionize how individuals and businesses approach health and life insurance. I really found my calling within the insurance industry, helping people understand what seem to be complex ideas and complex strategies and making it super simple and allowing people to really win in the game of insurance by giving them the strategies that most insurance companies don't even want you to know about.
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B
So let's talk about the two sides of the coin. Right? You've got someone looking for themselves and their family and then the business owner.
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A
Yep.
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B
So give us a few tips, couple of minutes. Overview. On the solo side, I, I believe.
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A
That the, the best thing to do is it spans the globe like a super high cold Internet Eldis. Brandon, I have agreed today Apple is going to reinvent the phone. It's not over until I win. The Living youg Legacy podcast. For those who live to leave a legacy that's extraordinary. The impossible has been. Oh, that is sensational. Jord, open Chicago with the lead. You said Paul is the fastest man on the planet. You can live your dream.
- [01:43]
B
Hello, and welcome back to another episode of Legacy Makers, here with my friend Philippe, who is the insurance guru. But he's on a mission to really redefine and revolutionize the insurance game. He's helped myself and many of my friends and clients and, you know, really make it a positive process. A process that isn't scary and isn't, you know, going to rip you off and leave you hanging. And I think it's so great what he's doing. So excited for this. Welcome. Awesome. Really.
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A
Thank you so much.
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B
So, you know, you're called the insurance guru. You take a very different approach to insurance and your own story is, is, is epic. You know, how you've kind of gone from multiple jobs, burning out, you know, to really building a great business where now you're helping hundreds of people. So let's start there. Do you want to kind of give me the overview of your life story?
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A
Yeah, no, for sure. Yeah. I grew up with the entrepreneurial spirit. I've always been kind of in business for myself, so to speak. From a super Young age I was very blessed with, you know, well off parents. But they had some hard lessons for me to learn which is they're not going to give me any money so I had to go out and earn it myself. Right. So I remember buying my first 10 speed bike or 12 speed bike, wherever it was back then and just kind of going through life knowing that I had the ability to adapt and influence people. Right. And then when I got out of the Marine Corps, I got into the insurance industry and I really found my calling within the insurance industry. Helping people understand what seemed to be complex ideas and complex strategies and making it super simple and allowing people to really win in the game of insurance by giving them the strategies that most insurance companies don't even want you to know about.
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B
Why are you so passionate about insurance?
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A
It's, I don't know what it is, Rudy, but it's like a God given talent that came to me. There was a lot of things I wasn't really great at, but for some odd reason insurance just it fit. I just understood it. It was just natural for me to kind of go through it. And when I got natural at it, I was just like, I want to know more and I want to know more. And it's just like it was a hunger that was like insatiable that just I just wanted more and more and more. And then as I was helping people, you know, the fulfillment and joy from people saying, hey man, you, you really made a big difference for me. And you know, without you, I would have been trouble. I mean, to be had people say you saved my life, you know, because we're talking about surgeries.
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B
Well, let's talk about that because yeah, I mean insurance is like that scary word and like associated as we were talking offline about sales floors and just, you know, churning out a policy because you get commission from that policy. But you take this very different holistic approach. You're not partnered with only one sort of, you know, sort of provider. You're really looking holistically and helping the client, whether they're super poor and need whatever they can get to cover themselves, or super wealthy with a ton of employees, big business owner trying to create the best system for them. As an entrepreneur.
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A
Right.
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B
Which is a lot of, you know, our listeners and stuff are entrepreneurs. So why is the industry kind of got that like bad rep and why are you so different?
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A
Yeah, you know, I think it's, it's not necessarily a lot of people think that the system is broken. It's not, it's people that are selling the products that are broken. Right. Because so many people are getting into the business, it's easy to get a license sales thing. It's a sales. I mean, it's just hammering the sales and not handling it properly. And there's no white glove service. There's no luxury to it. So it's kind of like, you know, here's a product. See you later. Very McDonald's, right. You drive up to somebody, ask for a cheeseburger, they give you a cheeseburger. I'm not McDonald's, I'm going to be like, have you tried the filet o fish? Have you, have you tried the chicken nuggets? Why don't you want a grilled chicken sandwich? Like, have you tried these other things? So I would never work out at McDonald's.
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B
Right.
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A
But if I was working at a, you know, a fancier restaurant, a Ruth's Chris or something like that, or a Komodo, I'm going to be like, well, we have these specials. Let me ask a couple of questions. Do you like this? Do you like that? And really find out something. So maybe you find something new and you got this whole new value that exists. Right. So I think by being a broker representing all the insurance companies, I'm able to take that approach where I'm able to look at all the different policies and sit down with an entrepreneur and individual business owner and say, listen, you've got a lot of options here, but let's narrow it down to the strategies are going to give you the most value immediately.
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B
Well, let's, let's talk about the two sides of the coin, right? You've got someone looking for themselves and their family and then the business owner.
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A
Yep.
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B
So give us a few tips, couple of minutes. Overview on the solo side.
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A
So on the solo side, I believe that the best thing to do is to lower your first dollar expenses. First dollar expenses are premiums, deductibles, things that you have to pay before the insurance even does anything. Right. And most people, and we've discussed this before, is people will pay a ton of money to have low deductible, but the odds of you going to the hospital and utilizing that deductible are very low.
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B
They're paying for peace of mind. Right. When you buy a TV and add insurance to the tv, you're probably going to get a new TV before it ever breaks.
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A
Exactly, yeah. So I come in and I disrupt that thought, saying, well, I can give you more for less. Yeah. Because what I'll do is I'll give you a higher deductible for a lower premium, meaning your out of pocket dollars is lower than people say. But if something happens to me, I get this high deductible beside no, because I'm going to give you another insurance policy that's going to cover the deductible if anything ever happens to you. And the two policies added together is lower than what you would be paying premium wise for high.
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B
Why do most people not know about that?
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A
Most brokers are lazy. Most agents are just going to sell you one thing, move on. Sell you one thing, move on. They're not going to take the time to go through this because many people say confused minds don't buy and I agree with that. So they don't want to take the time to slow down the process to really explain how the strategy utilizes and works. So when I do that with people and I show them how it works and I give them examples. I do this myself for my own personal right. And when I do that, I lay it out, they're like, really? I could make money on a tragedy. I said yeah, absolutely. You know it's, and it's helpful to know that because it, it takes away the anxiety. So actually gives you more peace of mind knowing that if anything happens to me, I'm not paying a lot of my out of my pocket right now. So it's more affordable. Plus if anything ever happened to me anyways, someone else is going to pay the bill. It's great peace of mind, you know.
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B
Yeah. I mean really, that's, you know, the health care system in many other countries, obviously government funded.
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A
Yeah.
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B
America, it's, it's, you know, it's different. Right. And kind of strange coming from the UK where people can be without insurance and get refused treatment, you know, or even if they do get the treatment, they maybe have a life of debt after because they didn't have the right insurance. Correct. It's kind of scary.
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A
It really can be if you're not prepared for what you're walking into. And a lot of people, you know, the number one reason why people go broke in America is because of medical expenses. Really the number one reason. Right.
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B
But it's crazy because it's like you can't drive a car about insurance. But a lot of people walk around about their health insurance.
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A
Oh, a lot of people, yeah. He was a time there was at one time everybody had to have insurance or penalties and stuff. Right. The marketplace. But then they kind of got rid of that and rolled it back because it was just Insane. Some people that are. Have, like, if you're healthy and wealthy, you're paying thousands and thousands of dollars a month for an hmo and they've got someone that makes no money and pay nothing for it. Right. And you're like, well, I'm paying for that person to be on there and I'm healthy. Why would I do this? But someone that's healthy and wealthy, I just take them and I say, listen, you got to. You got to leverage your health to get a lower premium. So we put you through an underwritten program. Yeah, when you go through an underwritten program, it's a lot cheaper because they can. They know the risk.
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B
So they look at like bmi, you know?
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A
Yeah, they look at your bmi. Sometimes they do blood, sometimes they're going to look at your. They're always going to look at your medical, Medical background and history. Some of them are fully underwritten. Some just have knockout questions where it's just like 12 questions that if you answer no to all of them, you're good to go. They have preexisting conditions if you lie on that application. So it's like those safeguards, but the insurance company does it because they're able to leverage the risk.
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B
Yeah, that makes sense.
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A
And if you're healthy and wealthy, that's the best way to do it. And I say healthy and wealthy because, yeah, these programs sometimes 5, $800 a month, but in comparisons to the marketplace, it's two, three grand a month. We're talking about PPOs as well, where you can go in and out of networks, choose your own doctors, you have a lot more choice. Right. So I think there is a strategy comes in for people that are individuals of really paying attention to what their situation is and not going by what somebody else told them. You need to talk to a broker. I was just telling this to someone earlier. I said, you know, if someone walked up to me and was like, hey, man, how do I. How do I fix a roof? I don't know. I call a roofer, man. Like, I don't need to know how to fix a roof. I don't even know about these shingles in the wood. And yeah, I don't even know about any of that. Oh, well, we put this, I don't care about that. Just fix the roof, right? How do I fix my engine? I don't care. I take it to a mechanic, they fix the engine. Insurance should be the same way. The problem is, same reason. Mechanics, people like, I don't trust them because I go in I also love these lies.
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B
Well, also, I mean, like a mechanic or a roof, it's like, you know, it's so complex. You don't attempt it. But I mean, insurance is a little more manageable or at least seems that way.
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A
Seems that way.
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B
So then you do attempt it and then you kind of go down a rabbit hole or just get the wrong policy or get frustrated and. Yeah. So it's like, it's almost more dangerous when it's like kind of manageable versus unmanageable because you just, you know, delegate it.
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A
Exactly. They make it so easy for people to choose their own insurance, but what they don't do is educate you.
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B
Yeah.
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A
On why you want to choose that insurance. Because the insurance company makes money when you spend more money than you should and then don't use it. I mean, that's how they make the money. Right. It's, it's an 8020 split.
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B
So. So let's talk now about a couple of minutes. Just entrepreneurs listening. What, what should they do differently if they own a business? If they have employees, maybe.
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A
Well, that's a good one, you know, because if you're an entrepreneur or you're a small business owner and you have employees, there's a great way that you can leverage out the manpower. Right. There's two things we can do. One, if you're under five employees, we can put you in an association with millions of other people that makes it look like you're an employee of this company with millions of people. And then I can get you really low costing insurance PPOs for your entire company. Or if you have more than five employees, there's lots of different insurance strategies that people can get on that are inexpensive. You get return on claims. At the end of the year, we enroll you in wellness programs where the government actually gives you funds as well for offering insurance to your employees. So there's all these upsides to giving benefits to employees rather than just being like, hey, here's a stipend, 500 bucks, go, go buy what you want. Those people going to, they're going to make a mistake and they're going to look at you or the employer and be like, well, this is your fault. Like, you know what I mean?
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B
Yeah.
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A
So it's always good to deal with an agent for sure.
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B
So the next question let's talk about, you know, you got your TV episode. It's more about your story as well, obviously your goals and really changing an industry that's maybe archaic and crazy. And you know, all the things we discussed but, but what is your story?
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A
To get that, you know, to really get to where I want to go. It's, it's about helping as many people as possible, and I can only be in so many places. So it's about training the next generation to understand the lead with impact, lead with purpose, and have passion for what they're doing. So being able to translate that emotion to other people is really where I'm going to build that legacy. Where, where when I'm retired or I get out of the business, I'm going to have hundreds of brokers that I've taught and trained that are going to move it forward and then teach the next generation and the next generation. And that's going to influence my family, my daughters, my clients, people around me towards something that lasts, you know, throughout time. Yeah, that's really what I'm trying to change, is those systems and those strategies. You know, a lot of my, A lot of my industry, they don't use technology. And it's wild. It's wild to me that I'm like, you got to start doing this. And for them, they're like, I automated an email. It's mine, mine.
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B
Well, I still imagine like some insurance, they're like stood at the public's entrance, you know.
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A
They do, yeah, they literally do that at a Walmart.
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B
When I moved to America, that's like what I saw. What is that?
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A
It's wild how it's done. So I'm trying to change all of that and move people into a pace where they can impact more people at a time, do one to many, and really be able to get their mission out there a lot faster and a lot more clear.
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B
Good. And what about your upbringing and your, your past? You know, is there a story there about how you got to this today?
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A
Absolutely. You know, I got into insurance 22 years ago and it was out of really desperation. I was dead broke and I was really struggling in life and I found my purpose in insurance. And then I found myself a little bit immature and I didn't have the personal development and the disciplines that I have today. So I made a lot of money and then lost money, and then I made a lot of money and then lost money. And the second time that I had lost all this wealth, I decided I'm going to become a broker so no one else could control my future. But that was a proverbial jumping off the edge. That was like two feet off the edge into the deep. Right. That was like a, a big choice to make because I didn't have any money, and I had bills, and I had responsibilities. So I was like, okay, now I've got to work a lot. And I worked three jobs for about three and a half years, and I sacrificed all my time, right? And it was really just to plug in and make sure that I was earning an income. And I was able to chase this dream that I wanted, which was to become an insurance broker. And I had people in my camp that were like, maybe you shouldn't do this. Maybe you should be in real estate. Maybe you should do that. Maybe you should do this. And I was. I had a good friend of mine who's a mentor, Tim Ramick, who was like, no, man, you just got to stay the course. Listen to those people. They love you. They don't know any better. Stay the course. Stay the course. I promise you. I promise you it'll work out. And he was right, you know, about four years in.
- [15:25]
B
I always say the worst people are the ones close to you that aren't entrepreneurs because they want to care. So they kind of say what they would sell themselves maybe until their brain works. But it does the opposite often.
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A
Yeah, it's projection, right? Yeah, yeah. No, it's true. So doing all that, it really. It made me disciplined, and it also taught me the lesson that I can. I can go through anything and rebuild myself multiple times. Multiple times. Multiple times.
- [15:52]
B
So what would you say? Let's talk about that. Someone's listening to this. Maybe they're at the point now listening to it where they're in one of the ditches, right? Yeah, the peaks and the ditch. What would you tell them?
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A
I would say you got to set the right expectation that it's never going to get easier, because the more peaks and ditches that you go through, the next peak is higher than the last one you hit, which means the climb up is. Is worse, and the way down is worse. So it gets worse, but better. And it's important to build resilience within yourself and a belief system that you can tether to that says, this is possible. I will make it through this. We were. We were meant to go through difficult times. We're built for it, right? Like, that's the unique thing of being a human being, is no one's coming to save us because we're already saved and our destinies are in front of us to be great. And it's just a matter of you checking the boxes and doing the things every single day to get better and just reach that point.
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B
What would you say if someone is Maybe trying to kind of get more stable. You've been through these ups and downs. What are some tips to stop the yo, yo sort of cycle that a lot of entrepreneurs live in?
- [17:09]
A
The biggest one is ask for help. Never think, I got this on my own. I don't need anybody. I'm gonna do this on my own. No, if you ask for help, you'll be surprised on how many people will help you. And it's usually our own fears and our insecurities that make us think, nobody cares about me. It's not true. There are people out there that you could meet. You could just do the success clues. Right. You could look for the people that have done it.
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B
Yeah.
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A
And you want to talk, and you just reach out. You just cold call them and say, listen, I'm struggling, and I'm looking for a mentor. You know, can I buy you a cup of coffee? Could I pay you a hundred dollars to spend 10 minutes with you? Just something outrageous? And they may say no, but they may say yes. And if they said yes, it could be all the difference for you.
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B
I mean, I've paid. I remember, like, I needed something solved. I paid, like, 2 grand for 10 minutes just to get an answer.
- [17:58]
A
Yeah. You know, I literally just recently did it.
- [18:01]
B
Yeah.
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A
I paid a guy 1600 bucks to spend, like, six hours with him, and he's, you know, just does a tremendous job and takes care of his clients and has amazing systems. And I was like, can I just pay you money to sit with you? And he was like, well, I'm running this boot camp thing. I said, I'm in. 1600 bucks. I'm in. I'll be right there.
- [18:18]
B
Yeah, Right.
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A
I got. I literally got back from vacation and drove straight there, like, boom, boom. And it was. It was great. I learned a ton, and I was able to sit with him. And now I've got a friend.
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B
Yeah.
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A
He's like, here's my cell phone. You call me whenever you want. Yeah. Text me whatever you want. So the sixteen hundred dollars was priceless.
- [18:31]
B
Yeah.
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A
Because now I get to reach out to him all the time, because he saw I. I was. I asked him for help. I'm like, I'm an established guy, but, yeah, you're doing what I want to do.
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B
Well, and you paid, too, that big thing. Because a lot of successful people, they get so sick of everyone asking for free help.
- [18:48]
A
Yeah, absolutely.
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B
Right.
- [18:49]
A
No, it's 100% true. So. And it's even just a gesture, because I know a guy that's young, 23 years old, and he's a public adjuster. And he's like, I'm struggling with my networking. And I said, well, you really got to play on the heartstrings, right? You got to make people feel sorry for you, and you got to get them to back your mission. And this guy's 23 years old. He was living in a storage unit, right? Like, I mean, dead broke, living in a storage unit. Now he's making money, he's crushing it in public, adjusting. He just wants more referrals. And I say, you got to tell that story to people.
- [19:16]
B
Yeah.
- [19:16]
A
You got to lock them down and say, listen, man, your. Your story is inspir. I'm looking for mentorship. Can I buy you lunch? I just take you out for lunch, man. And you do that on a regular basis. Can we do this every month? You just ask. They say, no. Great. Next one. You'd be surprised. And who's going to teach you stuff and plug you in? Where you need to be to where you can have this major success is everybody's looking for this macro movement.
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B
Yeah.
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A
That's so big that it's scary for anybody. It's like, well, what are the little things that you're changing? How many books do you read? Right. How many. How many events or seminars do you go to? Right. And there's lots of guys that do free events that you can go to. Tony Robbins and Grant Cordone and all these, you know, big guys. And you go to one of those events and people always downplay them. You go to one of those events and it will set you on an addiction and trajectory of wanting more and more knowledge about oneself and your own belief system.
- [20:09]
B
I agree. So, last couple of questions around legacy. What does legacy mean to you?
- [20:15]
A
Legacy for me means being able to be successful with the setup of doing more for other people than I expect in return. Like that, and passing that impact on to everybody that I come in touch with and having that being a provable system over the years and handing that down to my brokers, my daughters, and everybody that I come in touch with.
- [20:40]
B
Love it. And next one, someone listening wants to build a legacy. What tips would you give them?
- [20:45]
A
Well, self development. Invest in yourself. Don't buy the car, don't buy the house. Spend the money on you. And even though it might be ten thousand, hundred thousand dollars, it'll be scary. But when you do it and you jump off that ledge with belief in your own self, there's no investment that will pay you more.
- [21:07]
B
Love it. And couple of things. They will get or learn from your episode if they've not watched it already.
- [21:14]
A
I really think you're going to understand some of the strategies and some of the nuances of insurance and how you can win. Some simple changes, some simple concepts. And you're also going to learn that at my company at Procare, there's a lot of availability to meet with us and we don't charge any consulting fees where we help people, give them strategies, multiple strategies to help them win. We advocate for people. We're inviting you into our family and treating you as such.
- [21:40]
B
Love it. And last question, where do they find you that easy?
- [21:43]
A
You can find me on Instagram under FT Lunds or ProCare Consulting and also on Facebook at ProCare Consulting or Philippe Lundstadt.
- [21:51]
B
There you go, guys. Another episode in the wrap. Check out his full show. Full episode. And of course, go down. If you're going to go down that rabbit hole, have someone that knows what to do and someone that you can trust to take that holistic approach. That's what I love about what he does. And I'll see you soon. Keep building a legacy. Take care.