Life Insurance
Life Insurance
Life Insurance
Life Insurance
The Income Stream Death Benefit – Part Three
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.Make it easy
I realize the example in part two did not take into account the fact that a beneficiary receiving a lump sum could invest that amount and receive more than the lump sum divided by 20 each year over 20 years. Assuming a modest 3% interest rate, $735,490 would provide the beneficiary $50,000 per year for 20 years. A 30 year term life policy based on that face amount would cost only $638 per year. That’s actually slightly lower than the income stream death benefit price of $647.75 quoted previously. Why would a client pay an extra dollar per month for the income stream? Simplicity. What’s easier to understand: “$50,000 for 20 years” or “$735,490 invested at 3% should generate an income stream of $50,000 per year for 20 years. “
Sometimes we fail to understand the majority of the population does not deal with interest rates, inflation and compound growth on a daily basis. Keep it simple.
For income replacement life insurance sales, consider using the income stream death benefit option. It will help you close more life insurance sales, potentially save your clients money and certainly give them a better understanding of how their coverage works.
Life Insurance
Don’t Make Your Clients Sell at a Loss
Presented by Brian Leising Managing the effects of financial market fluctuations is a critical element in retirement planning. If retirees receive plan distributions in a stable or rising market, they have the potential to preserve or grow their retirement assets. If these clients take distributions in a declining market, they are often drawing down and selling into losses. What if they did not have to sell at a loss but had an alternative fund to draw from in those down years? This could be a three million dollar decision. I explain how in this quick video.
Life Insurance
More Coverage without More Underwriting – A Three Part…
Presented by Brian Leising Part 3 Conversions (renounce your old life) Looking for ways to help your clients obtain more life insurance coverage without the hassle of additional underwriting? Converting a term policy to a permanent plan avoids underwriting and typically pays you a new commission on the permanent plan. Look through your client files for clients with older term life policies. If they have no permanent coverage, discuss their conversion options. For a traditional conversion, a client may convert all or part of their term plan to any permanent plan offered by the company at the time of conversion. If they have a return of premium term policy, they may be able to obtain a reduced paid-up plan in lieu of receiving their premiums back. If you don’t like the options the carrier presents, MetLife offers a cross-company conversion plan. You can convert another carrier’s term to one of their permanent plans. Also, don’t forget about child riders. Companies usually allow children covered by riders to convert the rider to a permanent plan, all without additional underwriting.
Life Insurance