Annuities

Be the “Quarterback Advisor”

Presented by Life Marketing Many agents love sports analogies when talking about business – I know I do. Well, here is one that you might relate to. We have all heard to be all things to our clients. Many have tried, only some have succeeded. Still others may wonder what does this mean. Have you ever been the “Quarterback Advisor”? In football, all offensive plays run through the quarterback (QB). He doesn’t necessarily make all the plays; sometimes he hands off to the running back or throws it to the receiver. All calls from the coaches run through the QB and he is a part of everything. In most cases, the games are perceived to be won or lost due to the QB’s efforts. Let’s examine how this works in the insurance/advisor business. You want your clients to think of you every time they have a financial or business need. If they need law advice and don’t know where to turn – they call you. If they need a CPA to assist on taxes – you hope they call you. Business insurance, financial planning and the list goes on and on – do your part so that they think of you. Being the “Quarterback Advisor” means you are a connection maker. You know all the best people for the job for your client even if it isn’t you. Always strive to be the one they think of first. These are the types of qualities that go beyond just the sales part. It will pay huge dividends.
Life Insurance

State Estate Taxes

Presented by John Schraut Don’t overlook the other estate taxes: State Estate Taxes When working with our wealthier clients and talking about estate planning, we all talk about the federal estate tax or sometimes known as “death taxes”. The term “death tax” usually means estate or inheritance tax, or rarely, generation skipping tax. Death taxes may be due: • Even when no federal tax is due • To a jurisdiction other than the place of residence • In more than one form, causing double taxation • On generation-skipping transfers • From heirs personally When planning for a client’s liquidity needs at time of death, don’t overlook the impact of state estate taxes.
Life Insurance

Life Insurance Used in Business Liquidation

Presented by Gary Peterson When business liquidation is the only course of action at an owner’s death, life insurance can provide the funds that make the difference between a planned liquidation and a financially-disastrous forced liquidation. Consider the uses to which life insurance can be put in the planned liquidation of a business: Estate Settlement – Life insurance proceeds can be used to pay estate taxes and other estate settlement costs, allowing the liquidation to proceed on an orderly basis. Family Income – Using life insurance proceeds to provide the surviving family with a continuing income can avoid a forced liquidation of business assets for this purpose. Working Capital – If the executor needs additional cash to temporarily operate the business, life insurance can serve as the source of that cash. Offset Shrinkage – Even a planned liquidation will usually result in some shrinkage in value, as compared to what the business was worth as a going concern. Life insurance can be used to replace the value lost in the liquidation. For “pennies on the dollar,” life insurance provides the cash needed to avoid a forced liquidation will be available exactly when needed — at the business owner’s death.
Annuities

Six Questions for Six Life Insurance Sales to Seniors…

Presented by Brian Leising Do you have senior clients? Did they purchase only one product from you? Was it a Medicare Supplement, annuity, long term care or final expense policy? If you were able to uncover the need for one insurance product, could you uncover another? What if you had six simple questions to ask your clients that would uncover additional sales? Let’s start with the first, most basic question, “What planning have you done for your funeral?” Listen to your clients speak. They may discuss their will, preferred cemetery, music to be played, what funeral home to use. When they finish, follow up with “How will your family pay for all that? Do they really want to pay full price?” This conversation could lead to a fully underwritten life insurance sale, but don’t neglect basic final expense policies. Some people don’t need anything more than a basic burial plan. In lower income households, that may be the only sale possible. Premiums are guaranteed to remain level and underwriting is simple and fast. You should know whether your client qualifies for coverage before you walk out the door. People still purchase pre-paid funerals from funeral homes. You can offer them greater leverage on their dollars. Next time I will review question number two, for use with people who already have life insurance policies in force