Presented by Gary Peterson
Following is a concept that can generate life sales into the future. When you sell a term plan to your clients, prepare them for the next sale by discussing their needs for permanent insurance. One of our carriers offers Return of Premium on their Universal Life product in addition to a Chronic Illness rider. Another carrier has the option to make the change from a Universal Life to an Index Universal Life. The approach would be:
- Sell the term
- Prepare clients for conversion to a Universal Life in a few years
- In 20 years, get refund of premium or exercise the Chronic Illness rider for Living Benefits (if desired)
- Change the Universal Life to an Index Universal Life to build potential supplemental retirement funds