Life Insurance

Where Am I?

Presented by Gary Peterson In our technological world, we can use our GPS system to find out where we are and how we can get to another place. Now is a good time to turn on your “Sales GPS”, using it to guide you through the remainder of 2016.  You can find a path to increase your production and obtain the goals you set back in January. Or, you can expand upon your goals that have been reached. Following are more areas you can use to fine-tune this Sales GPS:                 Client reviews                 Client anniversaries or birthdays                 Referrals from your centers of influence                 Referrals from your current and past clients                 Partnering with local agents not in your product area You may come up with others, but the bottom line is, turn your Sales GPS on and put it to use today!
Life Insurance

Eight Elements of Extended Care Riders

Not all extended care riders on life insurance policies are created equally. Do you know the differences? Different combinations will appeal to different clients more than others. View the first part of our video series to learn the eight elements of extended care riders offered on life insurance contracts and find the right formula for each client.
Long Term Care and Disability Insurance

Overcoming objections in a LTC sale

Presented by Tim Dreher In my many years of working with Long Term Care insurance, I’m pretty confident that I’ve heard just about every objection there is to hear. Over the next several blog posts, I will focus on what I believe are the three most common objections. The first objection: “I don’t need Long Term Care insurance. My family will take care of me.” I’m sure that most people assume that their family will help take care of them should they find themselves in a long term care situation. In most cases their assumptions are probably correct, at least for a short time. However, I’m also fairly sure that most people haven’t given much thought as to how a long term care situation can, and in most cases, does negatively affect the spouse, children, or other family members providing the care. You, as their advisor, need to discuss the potential physical, financial, and emotional toll that many caregivers suffer. Over half of all caregivers today are the adult children of the care recipient with families, careers, and responsibilities of their own. I have seen caregivers put their careers on hold by taking time off from their job or even quit their job in order to take care of a spouse or parent. Studies have shown that the typical caregiver misses an average of 7 hours of work per week caring for a family member and last year, 77% of all working caregivers missed at least some work time. Many caregivers themselves become sick due to the stress and exhaustion that can come with being a caregiver. Of caregivers surveyed, 43% felt that caring for a family member had negatively affected their emotional and physical health and well-being. Additionally, 55% said that they felt that they were not qualified to provide the necessary level of care needed. They also felt guilty about taking time away from their own spouse and children to be a caregiver to a parent or other family member. Many caregivers also suffer financially when they find it necessary to dip into their own savings and or retirement funds to help pay for care, not to mention the lost wages for taking time away from work to provide care to a loved one. Of course most people hope that their spouse, children, or other family member will help take care of them if they should find themselves in a long term care situation. It is your job, as their advisor, to show them that a Long Term Care insurance policy will help the family to take care of them better and longer, and without the extremely high levels of emotional, physical, and financial stress that many times go hand-in-hand when a family member needs care.
Life Insurance

With whom do you want to leave your money

Presented by Gary Peterson If given the choice, to whom would your clients want to leave their money: 1.  Loved Ones 2.  Charity 3.  The Government With your assistance, your clients could potentially leave all of their money to all other than the government. Use the RMD from their IRA or qualified plan to purchase life insurance that will pay the taxes to Uncle Sam and leave their assets for their kids or charity. Here is a hypothetical example: Client has a $500,000 IRA. Upon death, taxes and costs could amount to $200,000. Purchase a Survivorship life insurance policy for $200,000 with the RMD. The children can use the benefit to pay the taxes and have the $500,000 to liquidate to continue tax deferral as long as possible. Better yet, use the RMD and purchase a $500,000 policy and make the beneficiary of the IRA a charity. If done properly, all of the funds ($1 Million) would be received income tax free. Contact your life marketer at 800-397-9999 for more details.
Long Term Care and Disability Insurance

Prospecting for Disability Income Protection: Who is Your Target…

Presented by Michelle Daharsh Are you having the conversation with your prospects about disability income protection? Or are you reluctant to bring up the conversation for fear that you may not know the answer. With so many types of clients, of all ages and different incomes and occupations, who do you prospect for first? The easy answer just might be: young couples. Start the conversation about disability income with young couples who have recently bought a home or are starting a family. These life events are the best time for them to begin to build a foundation of financial protection with disability income being a cornerstone of their coverage. So how do you talk to them about need? Individuals in this age group have a lifetime of earning potential remaining and probably haven’t looked at the big picture of what that potential is. Income is their most important asset because their lifestyle and long-term plans depend on it. If faced with an illness or injury that keeps them from working and earning an income it can quickly impact other assets and take years to rebuild. Communicate to them about the value of their ability to earn an income and explain what’s at risk. Most young couples think disability is about getting hurt, not sickness. Explain what’s at risk should they lose their wage earning ability because of an illness or injury. Disability rates are based on occupational risk, their age and current health. Prospects in their 20s and 30s typically are easier to get through underwriting because at this age they are generally in good health with fewer past health issues. There are many flexible ways to create and design full coverage for your client when using disability income products, but they won’t know about their options unless you are willing to start the conversation today!