It is already November, and I have no idea where the year has gone or how to fit in all the great things happening here on the AE Life Team! Hopefully, you were able to listen in to the recent call with Tbone on how $1,000,000 of commission can be made using our Ultimate Gift strategy. Over 220 producers registered to hear how this case came together, and we were flooded with calls filled with opportunities from those listening. Exciting stuff, thanks again to Tbone for sharing!
Last month, we piloted a life insurance training session with one of our top annuity and life producers in Arizona. This event was so well received by the attending advisors that we already have a $200,000 annuity and a $14,500 life sale after - get this - one appointment. The group was very excited as Staple Gun, a major annuity and life producer (check him out on the leader board) shared how to increase your revenue by bringing life insurance into your practice, incorporating it in such a way that it also enhances your annuity production. Please look for more details on Arbitrage University taking place here in sunny Topeka, Kansas on January 4-5, 2012!
Finally, as this Thanksgiving season approaches and we step back to count our many blessings, please know that your friendship and business are counted highly among them. We know that as the nation's top producers, there are dozens of possible marketing organizations from which you could choose, and we greatly appreciate the trust and confidence you place in our ability to help continue to grow your business. Have a wonderful holiday!
Sincerely,
Jim Bowman
President of Life Operations
As 2011 nears its end with the market in a continued state of volatility, many clients are taking a look at their portfolios to see just where they stand. Assisting your clients with annual reviews of their annuities, 401(k)s and other investments is likely something that you do on a regular basis. But are you overlooking their life insurance? Of the many instruments that make up a client’s portfolio, life insurance tends to often be the least monitored. Many policies have not been reviewed since they were purchased years ago. However, like any other financial tool, life insurance policies need to be continually managed and adjusted every few years to ensure they are keeping pace with market conditions as well as your client’s needs and objectives.
A perfect example of how powerful a simple policy review can be is the recent case submitted by Razorback Keith. His clients owned a $5M Second-to-Die life insurance policy that came with a $94,000 annual price tag and had a cash value of $357,000. When the original policy was issued, the husband was approved at Table 2 rates and his wife at Standard rates. Two important reasons for life insurance reviews are the advancements in underwriting and improved product pricing - both of which have resulted in the potential for more affordable coverage for your clients. After a thorough review of this policy, Razorback Keith was able to help his clients capitalize on both of these benefits. The clients applied for a new policy, and this time the husband was approved at Standard Plus and his wife came in at Preferred! With the improved medical offers and the 1035 Exchange of the cash value, the clients ended up with a new policy for $6M in coverage for a premium of just over $80,000 annually. So not only did they gain an additional $1,000,000 in tax-free death benefit, they're also getting it at a savings of almost $14,000 a year! Razorback Keith himself earned an $81,000 commission to help his clients save significant premiums and enhance the legacy they will leave for their children.
The beauty of doing policy reviews for your clients is that there is no real “sale” to be made. These clients already own life insurance and already understand its importance and value to their families or business. Your only task is to make sure that the existing policy is still the best solution possible. While every policy review may not result in a new application, it will give you and your clients a comprehensive view of their assets, and that's never a bad thing! Your Life VP has the tools you need to start implementing policy reviews into your daily practice. Give him a call today for all the details!
 Did you miss the highly anticipated Ideas at Work call with Jack Teboda?
CLICK HERE for instant access to this AE "instant classic!" In this powerful webinar, Jackshares how he generated a $1 million commission utilizing The Ultimate Gift Strategy to help a high net worth client transfer $10 million out of their estate, turning it into over $45 million in income, gift and estate tax-free benefits for their heirs! Better yet, he explains how you can you profile these types of scenarios within your own book of business and duplicate this same process to uncover huge life cases of your own! |
| 1. tindesk |
$525,221 |
| 2. Staple Gun |
$369,602 |
| 3. tbone |
$305,414 |
| 4. The Leader |
$282,096 |
| 5. TonyK |
$241,842 |
| 6. rollercoasterguy |
$185,983 |
| 7. Rhino |
$182,122 |
| 8. SafeMoneyPeople |
$162,140 |
| 9. VegasBallers |
$160,958 |
| 10. Golfin4Fun |
$148,393 |
Empower your clients to prepare for a better future. Give them the guidance to protect their retirement savings and their independence. Help them shelter their loved ones from taking on the burden of long-term care. One of the most powerful solutions available today is Lincoln’s MoneyGuard product. MoneyGuard is universal life insurance with optional long-term care benefit riders which provides:
- Tax-advantaged LTC benefits if your client needs care
- An income tax-free death benefit if your client doesn’t need care¹
- A money-back guarantee if your client changes their mind²
Your Life VP has all the tools you need to find the ideal prospects for this particular product, and the best part is we can help you uncover sales right there within your own current book of business! Our powerful CD Alternative materials, which focus on the benefits of repositioning dollars from CDs into the MoneyGuard product, include client pre-approach and follow-up letters, seminar slides and customizable print and internet ads!
Call your Life VP today to start getting your clients ready for their future, no matter what lies ahead!
¹Beneficiaries can receive an income tax-free death benefit under IRC Section 101(a)(1).
²Through the Enhanced Surrender Value Endorsement, after all premiums are paid, less any withdrawals and/or benefits paid.
In an effort to help you increase your sales and better serve your clients, several of our top carriers offer Table Reduction Programs. These programs make their already competitive products even more attractive by providing greater underwriting flexibility. Aviva and Lincoln Financial are two of our core carriers currently offering this benefit. The basic parameters to qualify for these programs are:
| Max Issue Age |
70 |
Max Table |
Table 3 |
Max Face |
$10 million |
Products |
All permanent products |
To see just how powerful these programs can be, take a look at this example:
A 65 year old male is approved at a Table 3 with a carrier which does not offer a Table Reduction Program. His annual premium for a $1,000,000 No Lapse Guarantee UL is $35,795¹. That same client is a candidate for a Table Reduction Program and could potentially lower his premiums to just $25,130² - a savings of $10,665 a year!
Make sure you are having discussions with your Life VP about potential cases, especially if there is a chance that the client has some health issues that could result in a slight sub-standard rating. We can help guide you to a carrier which will give your clients the best chance at a standard rating and ultimately save them significant premium each and every year!
¹ Table 3 Nontobacco rates using Custom Guarantee Gen 6 issued through North American Company for Life and Health
² Standard Nontobacco rates using LifeGuarantee UL 2011 issued through Lincoln Financial Group
|
