Sales Idea – Three Largest IUL Sales for Your Commercial Accounts

Three Largest IUL Sales for Your Commercial Accounts
If you work with commercial accounts in the areas of property and casualty, employee benefits or group health insurance, you need to know about the three largest Index Universal Life (IUL) insurance sales you might be missing with your existing clients.

We’ve compiled top sales strategies from three of our leading insurance companies to bring these ideas to you in just a few minutes. You will learn about the most profitable IUL sales you should be making with your commercial accounts. These involve sales to the owners, key executives and their employees. Just by using average numbers, a business with one owner, two key executives and 10 additional employees would generate over $100,000 in new life insurance premiums!


Sales Idea 74 – How Do I Value My Client’s Business?

How Do I Value My Client’s Business?
We know that life insurance to fund a buy/sell agreement is one of the largest premium sales we can make as insurance producers. One major hurdle often involves producing an accurate valuation of the business. Multiple owners may give you different figures, or the business might not have time or want to pay someone to conduct an analysis.

At Financial Brokerage we can help. Several of our top life insurance companies offer forms you can complete with your clients (often online) to produce an accurate valuation of their business. They can base their buy/sell agreement on this number which you can use as the face amount for their life insurance policies.

If you work with business owners or have commercial accounts, take a few minutes to view the video and learn more.


Sales Idea – Six Ways to Get Cash from a UL

Six Ways to Get Cash from a UL
Did you know there are six ways your clients can get money from a universal life insurance contract? To demonstrate this, I’ve re-worked the classic bucket illustration that we’ve all seen to help explain cash value life insurance. It shows the money going into the contract at the top with a spigot at the bottom that shows cash coming out of the contract for different reasons. This new bucket has six spigots because there are six ways (depending on the carrier and product you use) that your clients can get cash out of that contract. Three of them are based upon an income stream and three of them are based upon your client’s health. In just two minutes I can walk you through all six.

You are probably familiar with one or two of these already but might not know about all six.

Sales Idea 19 – Two Reasons to Move IRA Funds to Permanent Life Insurance

Two Reasons to Move IRA Funds to Permanent Life Insurance
Two Reasons to Move IRA Funds to Permanent Life Insurance
Do you have clients with money in IRA’s right now? Here are two reasons to consider moving those funds to a permanent life insurance policy:
1) Market risk – The stock market goes up and down, but when? Nobody knows. Index returns in a life insurance policy lock in gains with no exposure to downside losses when the market declines.

2) Taxes – Since clients receive a deduction for funds placed into an IRA, those funds (plus growth) will be taxed upon withdrawal. The larger the IRA, the greater the tax burden to your clients or their heirs. With an ever increasing national debt, taxes are likely to increase in the future. Plus, clients in their working years generally have deductions available now that they may not have in the future (mortgage interest, dependents).

Why not pay the taxes today when rates are at historic lows and their deductions may be at historic highs?

Who fits the ideal criteria for this concept?

Clients in their 60’s. They don’t need to worry about the 10% tax penalty for withdrawing qualified funds prior to age 59 1/2. You should stretch the withdrawals over 10 years if you can to reduce the annual taxes. As long as clients move the money prior to age 70 1/2, they will not need to worry about required minimum distributions. They will still have to pay taxes, but now they can pay when tax rates are at historic lows.

As a bonus, with no taxable retirement income, your clients won’t have to worry about their social security income becoming taxable.

Relieve your Clients’ Policy Loan Burden

Stop me if you’ve heard this one before…

During a client review you discover that your client has a life insurance policy that has accumulated cash value. However, you also see that loans have been taken from the policy to pay premiums or for funds for your client. Because the policy may not be performing as expected, the interest rate on the loan is a bit high and mortality costs have decreased…the policy is in danger of lapsing.

What do you do next?

Check out this quick video to learn more about the options available.