- MYTHBUSTED! Four reasons for life insurance in retirement (6/2/2022)
- Life Insurance Allocation Tool – A Quiz For Your Clients (6/2/2022)
- Life Insurance Quoting – Beyond The Price, What Else Is Included? (6/2/2022)
- Life Insurance Quoting – Getting Started With A Basic Price Comparison (6/2/2022)
- Permanent Life Insurance Decoded How to tell one product from another (6/2/2022)
- Increase to Face Amount Limit for PL Promise GUL as of September 21, 2020 (9/18/2020)Pacific Life is increasing the PL Promise GUL1 face amount limit to $3.5 million effective September 21, 2020. PL Promise GUL is a universal life insurance product with no-lapse guarantees designed to provide affordable death benefit protection.
The face amount limit of $2.5 million that was implemented on April 1, 2020 is increasing to $3.5 million as of September 21, 2020. Winflex Web and all of our other quoting vendors will be updated with new face amount limit on September 21, 2020. Any ticket or application submitted on or after the effective date (September 21, 2020) with a face amount greater than $3.5 million will not be considered.
Life insurance remains an important product for consumers to purchase and own. It is our job to make sure you are capable of providing customers the long-lasting life insurance protection they need.
PL Promise GUL is an affordable option for clients seeking death benefit protection that offers: • Face amounts between $25k – $3.5 million, as of September 21, 2020 • Affordable alternative to whole life • Enhanced Surrender Value Rider at no cost² • Added consumer protection with a no-lapse guarantee³, that can be tailored to the client’s desired no-lapse guarantee duration • Optional PL Promise Chronic Illness Rider at policy issue for a monthly rider charge4,5 • Optional Waiver of Monthly Deduction Rider at policy issue for a monthly rider charge should the client become disabled
1 PL PROMISE GUL No-Lapse Guarantee Universal Life Insurance. Policy Form #P18PRUL and S18PRUL or ICC18 P18PRUL and ICC18 S18PRUL, based on state of policy issue. 2 Enhanced Surrender Value Rider. Form #R17LYESV or ICC17 R17LYESV, based on state of policy issue. 3 The Lifetime No-Lapse Guarantee Rider (form #R17LYFNL or ICC17 R17LYFNL, based on state of policy issue) is included in the policy at no additional charge. The no-lapse guarantee, depending on how your client structures their policy, has a maximum duration of the insured’s lifetime, subject to certain limits. If your client’s net no-lapse guarantee value is zero, the no-lapse feature terminates. If the no-lapse feature terminates, additional premiums would be required to resume the no-lapse guarantee. If policy performance is such that your client’s policy is being maintained solely by the no-lapse guarantee, your client’s policy will not build cash value. 4 PL Promise Chronic Illness Care Rider is an accelerated death benefit rider for chronic illness. Policy Form #R18LYCHR or ICC18 R18LYCHR, based on state of policy issue. 5 Riders may incur additional charges and are subject to availability, restrictions, and limitations. Please refer to the policy and rider contract for additional details. Clients should be shown policy quotes with and without riders to help show the rider’s impact on the policy’s values. 6 Waiver of Monthly Deduction Rider. Form #R18WMD or ICC18 R18WMD, based on state of policy issue.
Sales and Marketing Materials Pacific Life remains committed to making it easier for Brokerage General Agents (BGAs) and life insurance producers to do business with us.
- Sales Idea – Prospecting in a Pandemic (8/19/2020)The 2020 pandemic and recession have caused financial hardship for many people and businesses throughout the world. However, these conditions have also produced new markets for life insurance sales. If you specialize in auto and homeowners insurance or group benefits, you already have the inside track to these buyers. Take a couple minutes to learn about the fastest growing life insurance sales markets in 2020.
- COVID-19 Underwriting Opportunities (8/10/2020)The COVID-19 global pandemic has changed life insurance underwriting. This is not necessarily a bad thing. The lack of available or willing paramedical examinations has actually made the underwriting process much easier for the majority of applicants. Conversely, the tightening of underwriting guidelines for another segment of the population has created new challenges. It has also created a tremendous sense of urgency for those clients. Both underwriting changes should make life insurance sales faster and easier for everyone involved.[yotuwp type=”videos” id=”k1s19K77Dpc” ]
- Sales Idea – What if healthcare was built into your retirement plan? (12/9/2019)What if you could build healthcare benefits into your retirement plan?When your clients need healthcare services in retirement for long term care, they will need to accelerate their spending. What if there was a way to access MORE than what was in their account? There’s only one way to do that! Take two minutes to learn more then contact me at Financial Brokerage to discuss how we can help you help your clients do the same. Be sure to subscribe to our channel so you don’t miss a single episode. Learn more »
- 20% More Coverage For The Same Price? (12/2/2019)
- Sales Idea – Why Use Cash Value Plans For Key Person Policies? (11/25/2019)
- Have you heard of the 35-35-35 Retirement Plan? (11/15/2019)
- When Does $100,000 Equal $1,000,000? (11/8/2019)
- Sales Idea – A Millionaire For $100/Month? (11/4/2019)
- Sales Idea – How to SUPERCHARGE a Retirement Plan (10/27/2019)
- Sales Idea – Fill Retirement Gaps with IUL (8/26/2019)Fill Retirement Gaps with IULAre you aware of all the potential gaps in your clients’ retirement plans? Index universal life can help fill those in three different ways:
1- Your clients can tap into index universal life insurance funds during a down market cycle so they don’t have to sell at a loss.
2- Index universal life insurance funds can be used to bridge the gap between retirement and claiming social security.
3- Index universal life insurance funds can be used to optimize a client’s tax bracket throughout retirement.
- Life Insurance as Easy as 1-2-3 (8/12/2019)Life Insurance as Easy as 1,2,3Buying life insurance can be confusing for consumers. Determining how much life insurance is difficult enough, deciding which type of policy is even more confusing. Financial Brokerage has a life insurance allocation tool that helps simplify the conversation. Not only will this tool help determine how much life insurance your clients need, it will also determine the right mix and the right type of policies. That’s not even the best part! This tool will help your client’s determine what they want their life insurance to accomplish for them for their reasons…not ours. Simplify the conversation and putting their interests first will build trust to help you close more sales.
- The Greatest Threat to Retirement Savings (7/23/2019)
- Help Relieve your Clients’ Policy Loan Burden (7/8/2019)
- Sales Idea – Why Offer Worksite Life Insurance? (7/1/2019)
- Sales Idea – Top Five Most Profitable Life Insurance Sales (6/24/2019)
- Why You Need to Review Every Mortgage Term Life Policy Your Clients Own (6/17/2019)
- Sales Idea – Three Largest IUL Sales for Your Commercial Accounts (6/10/2019)
- Sales Idea – What Is A Protection Focused IUL? (6/3/2019)
- Hello world! (5/30/2019)Welcome to aThemes Demo Sites. This is your first post. Edit or delete it, then start blogging!
- Sales Idea 74 – How Do I Value My Client’s Business? (5/20/2019)
- IRA to IUL Conversion (5/13/2019)
- Sales Idea – Six Ways to Get Cash from a UL (5/6/2019)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.
- Is there client risk in a GUL? (4/29/2019)Nearly 20 years ago, the insurance industry responded to consumer problems with old fashioned universal life contracts by creating the no-lapse guarantee UL. Rather than a policy based on the concept of maintaining cash value in the contract, a no-lapse UL gives the client another method to keep their policy in force. If the client pays their premium every time, on time, takes no loans and no withdrawals, the policy will always remain in force. It does not need to have cash value. This has been by far the most popular UL we’ve seen at Financial Brokerage over that time period. It’s about a third the cost of a traditional whole life product but still has the same coverage and premium guarantees.
So, what risk is there for the client? If a client is going to maintain this contract for a few decades, what are the chances of them missing a premium somewhere along the way? If that happens they void their guarantee.
What can we do about this? Take a couple minutes to learn what you can do to save your client’s contract and save your bacon as well.
- Score a Triple Double with IUL (4/22/2019)
- Unlock the power of Indexed Universal Life so you can transform your business. (4/15/2019)
- Sales Idea – Ready To Increase Your Insurance Agency Profits (4/8/2019)
- Sales Idea – BIG Estate Tax Problem for Foreign Nationals – Will your clients be affected? (4/1/2019)
- Sales Idea – Final Expense Alternative (3/25/2019)Final Expense AlternativeWhat if you could offer clients seeking burial insurance more coverage for their money? Well, you can! Clients under age 70 have additional options for their final expense needs. Some companies offer Guaranteed Universal Life (GUL) with no exams for clients under age 70. The premiums are guaranteed to remain level and the coverage will last the client’s entire lifetime. Better yet, you clients may be able to realize a 23% savings compared to a traditional final expense whole life insurance policy.
- Which Life/LTC Insurance Combo is the Best? (3/18/2019)Which Life/LTC Insurance Combo is the Best?How do you know when to use universal life insurance with a LTC rider or a true hybrid life/LTC product?
We usually associate hybrids with clients that can afford larger premiums since these products are usually available as short-pay or single pay plans. Likewise, we propose ULs with riders for clients with less cash flow. You might be surprised to learn that for most of your clients, the hybrids provide a better value even though the initial premium may be slightly higher. The lowest initial premium is not always the best option for every client.
- Sales Idea 68 – Non-Med IUL on a Budget (3/11/2019)Non-Med IUL on a BudgetThe average index universal life (IUL) insurance premium is just over $9,000 per year. What about clients working with a smaller budget? Can an IUL still work for them?
This convenient chart shows retirement income amounts for several ages based on much lower monthly contributions to an IUL. Better yet, many of these amounts will not require your clients to complete a paramedical exam or labs.
Let us know if you would like copy of the pdf. This works with individuals as well as groups. In fact, the idea was meant to be used in an employer group setting.
- Sales Idea – IUL or 401(k)? Which is right for your clients? (3/4/2019)IUL or 401(k)?
Which is right for your clients?Many people fund 401(k) plans for retirement savings, but are they right for everybody? Would something else be better? In this video, I explore pros and cons of 401(k) plans when compared to an overfunded index universal life (IUL) insurance policy. For some people, the tax free income, no risk of loss and other benefits in an IUL outweigh the risk of loss and restrictions found in 401(k) plans.
Let me know if you would like a copy of the handy one-page chart that compares the differences. You can use this to explain why your clients may be better off using indexed universal life insurance instead of a traditional 401(k).
- Sales Idea 19 – Two Reasons to Move IRA Funds to Permanent Life Insurance (2/25/2019)Two Reasons to Move IRA Funds to Permanent Life InsuranceTwo 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.
- Sales Idea – Unlock the Power of Indexed Universal Life (2/20/2019)Unlock the power of Indexed Universal Life so you can transform your business.
With Stonewood software and turn-key marketing programs, you get access to proven IUL sales stories and the tools to close business with them.
Seminars and meeting scripts for prospecting. Brochures and handouts for client meetings. Customized IUL proposals to close business. Our software and programs take you from “nice to meet you” to “nice doing business with you.”
- Sales Idea Episode 66 – 40 Year Term Life Insurance (2/11/2019)
- Sales Idea – Is IUL too expensive? (2/5/2019)Is IUL Too Expensive?Is Indexed Universal Life Insurance too expensive? To answer that question you should consider a few things. How long will the policy be in force before I access the cash value? Some of the expenses are both fixed and front-loaded. This means the longer the policy is in force and the more the accumulation value increases, the lower the expenses will be as a percentage of the overall cash value. Also, what are the expenses for? A portion of the expenses pay for a death benefit which is an incredibly valuable asset that the client owns from the first day of the policy being in force. Remember this is a life insurance policy and the benefits of the policy are unique to life insurance. Finally, consider a larger expense that is absent from a life insurance policy…taxes. The money grows tax-deferred, is accessed tax-free and pays a tax free death benefit.
- Sales Idea – Laid Back Underwriting to Grow Your Business (1/29/2019)
- Life Insurance as Easy as 1,2,3 (1/21/2019)Buying life insurance can be confusing for consumers. Determining how much life insurance is difficult enough, deciding which type of policy is even more confusing. Financial Brokerage has a life insurance allocation tool that helps simplify the conversation. Not only will this tool help determine how much life insurance your clients need, it will also determine the right mix and the right type of policies. That’s not even the best part! This tool will help your client’s determine what they want their life insurance to accomplish for them for their reasons…not ours. Simplify the conversation and putting their interests first will build trust to help you close more sales.
- Relieve your Clients’ Policy Loan Burden (1/14/2019)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.
- NAC Benefit Solutions (12/27/2018)
- AssetShield 5 | 7 | 10 (12/27/2018)
- Learn how to get free marketing tools using AtheneConnect. (12/27/2018)
- Why Permanent Life Insurance? (12/27/2018)
- Strategic Design Annuity X (12/27/2018)
- Sales Idea Episode 63 – Quick Issue Success Story (12/27/2018)Do you avoid selling life insurance because you think the process takes too long? Learn about Mike, an accomplished insurance agent who has run a successful auto and homeowners agency for over 20 years. He helped his client receive more life insurance than he applied for, with no paramedical exam in just 12 days! No paperwork is needed for this process. Interested in learning how you can do the same thing for your clients?