Life Insurance

Simple

Presented by Gary Peterson Let’s get back to making life insurance simple.  You can now submit term insurance for $500,000 or less and potentially get Preferred Plus rates for your clients without any medicals.  We have three carriers that will look at your clients’ information and possibly issue policies in 5-7 days at the best rate available for their situation.  Give us a call at 800-397-9999 to learn just how simple this process can be – for both you and your clients!
Annuities

Bonus or No Bonus Annuity

Presented by David Corwin I think I’d take the latter – let me explain why. I’ve been in this ever changing Indexed annuity world for several years now and not unlike any other aspect of the insurance world, it is constantly changing. I’ve worked with hundreds of agents in my career. I work with some agents that only write bonus contracts. I’ve compared two of the best selling products with a particular carrier; one with a bonus and one without. I used the same index strategy and time period and the results were quite alarming. The bonus product that offers a 10% premium bonus netted $151k at the end of 20 years and the product without a bonus was over $215k. Why is this you ask? Well, I will tell you that typically on bonus products the commission rate is higher and thus the cap rates are lower than on a non-bonus product. This can result in much better performance long term.
Life Insurance

The Eight Elements of Extended Care Riders – Element…

Presented by  Brian Leising Finding the right formula for each client Not all extended care riders on life insurance policies are created equally. Do you know the differences? Different combinations will appeal to different clients more than others. Here are eight of the major distinguishing features among insurance companies offering extended care riders. All include some combination of the eight elements. This allows you to find the right formula for each client.
Premium Payments Benefit Qualification Benefit Amount
Pf Payment Frequency Pa Payment Amount
Lg Lapse Guarantee Tc Tax Code Pm Payment Method
Wp Waiver of Premium Ep Elimination Period If Inflation
Element 2 – No-lapse guarantee One of the primary reasons clients give for purchasing life insurance-based extended care plans over traditional extended care policies is the fact their premium will never change. As a health insurance product, traditional LTC polices are subject to rate increases. Good luck keeping your clients happy when they receive a rate increase notice of 50% or more! With a no-lapse guarantee universal life or a whole life based contract, your clients never have to worry about future rate increases. Everything is in their control. If they pay their premiums on time, every time, take no loans or withdrawals, their premiums are guaranteed to remain level. Some companies also offer life insurance without guarantees for their extended care riders. These need to be monitored regularly to ensure they maintain enough cash value to remain in force. Look for Element 3 – Waiver of Premium in March.
Life Insurance

More Coverage without More Underwriting – A Three Part…

Presented by Brian Leising Part 2 No Exams (Wish school was like that?) Looking for ways to help your clients obtain more life insurance coverage without the hassle of additional underwriting? Why not consider non-med or simplified issue policies? While the pricing is comparable to a fully underwritten standard or slightly table-rated policy, the underwriting turnaround is much faster, usually within one week. Clients are also limited to lower face amounts with a cap of $250,000 commonly. This is a great fit for those clients who need some coverage but are unwilling or unable to complete a full paramedical exam and labs. Many of our carriers even offer this simplified underwriting process on their otherwise fully underwritten products. This is usually limited to lower face amounts, but one company offers no-exam underwriting for up to one million dollars of death benefit! Don’t overlook this opportunity in the right situations.