Our educational and selling workshops will resume August 19th at 10am with AIG Annuities and Steven Burns, Regional Vice President. Until then, summertime can hold great opportunities for seeing clients in relaxed environments without the hustle of the other times of the year. Our Summer Reading List will change weekly and will include webinar information, and articles for both clients and advisors.
It’s July and we are continuing to feed you new articles every week that you can send to clients, update your knowledge, and build your own library:
MDRT Speaks: 6 Steps to Identify Consistent Marketing Opportunities
What Americans Don’t Know About Social Security
5 Major Risks to a Client’s Retirement
Great Ways Retirees Can Save Money on Long Vacations
How Advisors Can Protect Their Elder Clients Against Financial Fraud
The Basics of Life Insurance
In Case of a Bear Market: Do This
Talk with us about your next case; we can prepare ideas and show you a new solution not considered before or in a long time. Do you have a consultant behind the scenes offering the in depth, as needed, partnership for life insurance and annuities in your practice? You do now! Call us!
As the summer heats up, how do you stay in touch with your clients? Invite your clients and their families to have a cold beverage and mingle at a lemonade social. One of the easiest summertime refreshers to whip up, a lemonade event could be just the right touch on a hot afternoon in your office or a local restaurant with light snacks. We have ready-made invitations for your use below. Lemonade recipes are numerous and can offer a variety of options allowing the event to become a contest with a prize, a sampling event or a cocktail hour when spirits are added. Everyone looks forward to the relaxing days Summer can bring, and your clients would enjoy spending some social time with you in preparation for Fall financial planning.
Invite your clients today!
Is your client’s non-qualified annuity or qualified annuity where it needs to be?
According to Gallup’s 2009 survey of non-qualified annuity owners:
- 81 percent surveyed intend to use their annuity as a financial resource to avoid being a financial burden on children.
- 73 percent surveyed intent to use their annuity as an emergency fund in the case of a catastrophic illness or for nursing home care.
Make sure your clients’ annuities are aligned with their intentions.The Pension Protection Act (PPA)allows for income tax-free withdrawals from specially designed non-qualified annuities to fund long-term care expenses, regardless of cost basis. By exchanging a current annuity for an annuity that qualifies for the PPA advantages, your clients can be matched with a vehicle that can meet their needs while providing a tax advantage. Of course, before any annuity exchange is made, all factors should be weighed to verify the client’s best interest.
Can we protect a client from loss in a Long Term Care situation without a traditional Long Term Care policy? Yes! Let’s talk about One America. These are a few of our favorite sound-bites:
· “These solutions will not make you rich, they are meant to keep you from being poor” I say this several times every day because it is quite natural for a client and advisor to focus on the cash value growth. It is a good thing that we use interest-sensitive whole life contracts that guarantee a cash value growth, that is not the sole purpose. The sole purpose is to leverage the dollar and continue the benefit if they have a long-term care need.
·“Not only is this portfolio protection for the client, it is portfolio protection for the advisor” This is an important point to make. For many advisors, their business has been built on building client wealth, but many have failed to protect it. Also, with Baby Boomers entering into the years where they will begin to need care, many will spend hundreds of thousands of dollars out of accounts advisors manage.
·“Why pay retail dollar when you can buy it on clearance” This applies to the clients that would self pay. Usually, they feel they have plenty of money, so why buy insurance? This shows them the power of leveraging. Don’t pay retail – dollar for dollar….get a discounted dollar! If they wouldn’t self pay for cancer, or a heart condition, why would they self pay for Alzheimer’s?
· “It’s sort of like having a joint IRA, which of course you can’t do” This is to show the benefit of using Asset Care III. Covering both spouses with one’s retirement dollars is a huge advantage!
·“Your competition isn’t another advisor, your competition are nursing homes. They will easily take hundreds of thousands of dollars away from you and they won’t have to try.” I usually end meetings explaining this because the investment world is changing because Boomers have gone through the “accumulation phase” and they are entering the “distribution phase”. It is up to the advisor to help protect the “distribution phase”. Clients don’t know – what they don’t know….until their advisor tells them.
Planning for Financially Savvy
Life insurance can be a solution for clients who want to provide a death benefit for their families, but also want flexibility to use benefits during their lifetime as part of a diversified and tax-efficient financial plan. Read More…
Updated Guidelines for Foreign Travel and Nationals
Protective Life Insurance Company is pleased to announce two enhancements to their underwriting guidelines for foreign travel and foreign nationals that they believe will streamline the risk selection process and provide a more competitive approach for many cases. Read more…