Presented Brian Leising
Turn your annuity clients into life insurance sales with a discussion about taxes on the annuity gains. First, find out if the annuity money is “live on” money or “leave on” money.
“Live on” money means they will be taking distributions to cover income needs in retirement. “Leave on” money is the money they have no need for but most likely will leave to their heirs.
Ask them if they know that their beneficiary will be liable for income tax on the proceeds at their death from their “leave on” money. This is where you talk about using life insurance to cover the tax liability.
Tell them that they can provide a meaningful benefit to beneficiaries at their death. The beneficiary’s tax liability can be paid with an income tax free life insurance benefit.
This will help you boost your sales, cement your relationship with existing clients, build your bottom line and provide an opportunity to obtain referrals from satisfied clients.
Annuities