Sales Ideas Blog

  • Sales Idea 74 – How Do I Value My Client’s Business? (5/20/2019)
    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.

  • IRA to IUL Conversion (5/13/2019)
    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.

  • Sales Idea – Six Ways to Get Cash from a UL (5/6/2019)
    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.

  • Is there client risk in a GUL? (4/29/2019)
    Is there client risk in a GUL?
    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.

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