benefit - Financial Brokerage Inc.

The Income Stream Death Benefit – Part Two

Conduct a needs analysis with everyone you see, discuss paying off debts and funeral expenses, funds for college and income replacement.
Instead of a lump sum for their income replacement needs, use an income stream death benefit to clearly show how life insurance fulfills a client’s needs. Several insurance companies offer clients the exact income amount and time period they need to replace lost income. Better yet, clients receive a discount when choosing an income stream rather than purchasing a lump sum. For example, assuming a male age 35 receiving the best available rate class, $1,000,000 of 30 year term would cost $814 per year. If the need was actually to provide $50,000 per year for 20 years (still a $1,000,000 pay-out) the client could pay as little as $647.75 per year using an income stream death benefit option. That’s about a 20% savings in annual premiums amounting to a total of nearly $5000 over the life of the 30 year term policy.

The Income Stream Death Benefit – Part One

Presented by Brian Leising I’d like to help you close more life insurance sales by showing how an income stream death benefit can help your clients save money and better understand how their coverage works. We will explore the problem in part one, present a money-saving solution in part two and simplify everything in part three. The Problem How many people do you quote term life insurance for every year but never take action? Many of those people did not purchase life insurance from someone else. They are still uninsured. How can you get them back in your office? You may need to revise your approach. How do you determine how much coverage a person needs? What needs analysis system do you use? Many people do not purchase life insurance because they don’t see the need. Many of those with insurance have no idea why they purchased the amount they have. The amount was likely a random number they picked among many their agent presented. If an analysis was conducted, they may have been intimidated or confused by the large face amount presented. Many people do not understand how large a lump sum is actually needed to provide adequate income replacement.

Annuities

Tripler Benefit

Presented by Deb Strong We all have clients that will need additional income now or who can wait a little later. One thing we might hear from our clients is that they do not want to pay a fee for having this option available to them. We have a rider that can offer your client a 5% rollup for up to 20 years while they wait to turn on income. This rider also has a Tripler Benefit. If your client goes into a qualified care facility, it will “triple” the income for 5 years!! I know in the state of California it’s hard to find these options approved for sale, but this one is approved. Please call Deb Strong at Financial Brokerage today at 800-397-9999 and ask for details.

Life Insurance

Six Questions for Six Life Insurance Sales to Seniors…

Presented by Brian Leising Do you have senior clients? Did they purchase only one product from you? Was it a Medicare supplement, annuity, long term care or final expense policy? If you were able to uncover the need for one insurance product, could you uncover another? What if you had six simple questions to ask your clients that would uncover additional sales? Once you have determined your client has the proper life insurance coverage, you should be asking them: “Have you protected yourself from the high costs of extended care should you become ill or frail as you age?” The high cost of long term care is the greatest threat to a client’s retirement funds by far. After a fall, the stock market bounces back, the elderly do not. Long term care insurance has traditionally been used in this situation but is not a good fit for everyone. Linked benefit/life insurance based long term care policies offer protection with guarantees not found in traditional policies. The life insurance based solutions guarantee the client’s premiums will never change. They also guarantee a benefit will be paid out. If the long term care benefit is never used, the death benefit will pass to the insured’s heirs. Your clients are not really protected until they have some form of extended care coverage in place. In part four, I will review a question to ask seniors who have their protection in place and have extra funds to leave to following generations.

Long Term Care

Facing our own Mortality: Will your Trip be Memorable?

Presented by Leonard Berthelsen The data is out there, 70 million baby boomers are entering retirement and also coming to grips with their own mortality. Will our clients be ready for this trip and will you make it a memorable one for them and their families? Retirement should be all about family, friends, faith, travel and many pleasant memories. Planning now for the possibility of a Long Term Care need erases the concerns of who will provide care, where that care will be rendered, and how often. Give your clients peace of mind and allow them to focus on the things that really matter in retirement. Long term care coverage is that peace that so many individuals and their families share in this aging trip. Have you made that available to your clients or had the conversation about this? I have discussed in other blog postings about friends and family affected by this process. The more I reflect on this issue, the more keenly aware I become that we have to have this conversation. Yes, it is the professional, ethical, and right thing to do, but sometimes this conversation can be difficult. I have come to the conclusion that in order for there to be a peaceful, memorable process for this aging trip, I need to find a way to soften the financial burden associated with it. Whether it is traditional long term care insurance, a hybrid life insurance plan or a linked benefit annuity, it doesn’t matter, something needs to be there to help our clients with this aging trip. Have you had the conversation; is your client and their family going to have a peaceful and memorable trip?