Help Relieve your Clients’ Policy Loan Burden

Help 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.

 

Sales Idea – Why Offer Worksite Life Insurance?

Why Offer Worksite Life Insurance?
Why should employers offer Voluntary Payroll Deduction Life Insurance to their employees?

  • most U.S. households are under or uninsured and would not be able to pay for everyday living expenses without the primary breadwinner
  • guaranteed issue underwriting is available – no medical examinations or questions
  • coverage is portable for employees, they can take it with them when they leave
  • the employer or employee can pay the premium
  • spouse, children and grandchildren also eligible
  • one-on-one meetings with all eligible employees are mandatory

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

 

Why You Need to Review Every Mortgage Term Life Policy Your Clients Own

Why You Need to Review Every Mortgage Term Life Policy Your Clients Own
Why should you re-write every mortgage term life insurance contract your clients own? Chances are their old policies don’t include critical and chronic illness benefits. What does that have to do with paying off a mortgage?

A mortgage is usually the largest single debt a person would leave behind if they died too soon. With no income, the family’s largest monthly bill might become impossible to pay.

Wouldn’t you have the same problem if you were diagnosed with a life threatening condition like cancer, a heart attack or a stroke? Disability policies help some but most don’t until pay until 90 or 180 days after a diagnosis. Health insurance covers some expenses but does not replace lost income. In fact, 62% of bankruptcies are filed for medical reasons, and 78% of those involved people that actually had health insurance.

Several life insurance companies now include critical illness benefits in their term life insurance policies. They pay a portion of the death benefit upon diagnosis of a critical illness like cancer, heart attack, stroke, kidney failure and several other life threatening conditions. Go through your book of business (even old prospects) and make sure they have a policy that covers against this threat as well.

 

Sales Idea – What Is A Protection Focused IUL?

What Is A Protection Focused IUL?
A Protection Focused IUL is an alternative to a GUL. It’s designed to last for a client’s lifetime but without a lifetime guarantee. Instead it has a life expectancy guarantee and relies on cash values to maintain coverage for life.

If you’re like me, you’ve heard this before, right? Old fashioned ULs from the 80’s and 90’s didn’t meet expectations and policies lapsed. That’s why GULs were invented, so clients would have guarantees and not worry about their policy remaining in force.

You may not be aware that there are still potential problems with GULs. In fact, your clients may now be better off with the new protection focused IULs. If they prefer lower premiums or greater flexibility in their permanent life insurance policies, you want to consider a Protection Focused IUL.

 

IRA to IUL Conversion

IRA to IUL Conversion
Converting retirement funds from tax-deferred to tax-free status isn’t new. Over the past decade, more and more Americans – helped by financial advisors- have realized that deferring taxes may not be in their best financial interest. In the past, Traditional IRAs were converted to tax-free Roth IRAs. Today, funds from IRAs are being placed in Index Universal Life policies.

So who might benefit from this strategy? Is it a good fit for all of your clients? At Financial Brokerage, we have a pdf available that explains all. It takes you and your clients through six steps you want to consider in order to determine if this approach is the right one for your client, and how to best execute the strategy.