Sie sind auf Seite 1von 2
REASONS TO SELL LIFE INSURANCE. Client Profile. Age: 18-75 Status: Recent graduate, just married, married

REASONS TO SELL LIFE INSURANCE.

Client Profile.

Age:

18-75

Status:

Recent graduate, just married, married with children, primary wage

Concern:

earning years, affluent, nearing retirement, retired Protecting insurability, income protection, estate planning, and wealth transfer

Conversation

Starters

Conversation Starters
estate planning, and wealth transfer Conversation Starters YOUR CLIENT’S PORTFOLIO. LI Life Insurance
estate planning, and wealth transfer Conversation Starters YOUR CLIENT’S PORTFOLIO. LI Life Insurance

YOUR CLIENT’S

YOUR CLIENT’S PORTFOLIO. LI Life Insurance

PORTFOLIO.

LI
LI

Life

Insurance

Situation:

Your clients look to you to manage their total portfolios.

   

Solution:

Life insurance protects what they cherish most – their families.

 

NEXT STEPS

Benefits for You and Your Clients.

   

1. Review your client files for potential prospects.Take a

1.

Next

Establishing life insurance programs for your clients and thereby establishing

look at the Client Profile and find

 

Generation

relationships with their families can ensure that you will continue to manage

those who are a good fit (look

 

Risk

their portfolios when the client dies.

at age, asset types, occupation, marital status, financial goals etc.) Review the Situation, Solutions

2.

Exit

Life insurance pays large up-front commissions and annual renewal

 

and Benefits sections of this

 

Strategy

commissions, increasing the value of your practice, even as you enter a more passive phase.

 

document to further gauge who might benefit from a life insurance recommendation.You can also use your annual portfolio reviews to

3.

Another

With the help of experts (lawyers, accountants, insurance specialists)

 
 

Touch

you can increase the number of touchpoints with your clients by including

 

identify opportunities.

   

insurance among the instruments you manage for them. The more touchpoints, the “stickier” the relationship.

 

2. Sure, you can take a full paper application, but with AppAssist

it’s just a few clicks from the request for an interview, to an issued policy

4.

Total

Allocation of assets across a range of classes helps protect your client from

 

Protection

volatility of returns. Your client is an income-producing asset who also needs protection. Life insurance is the most efficient way to do this.

and full commissions. In total, the process takes roughly one hour of your client’s time and 15 minutes of the advisor’s.

5.

Tax Free

Life insurance death benefits are free from federal income tax (IRC Section 101 (a)) and free from state income taxes.

3. Get a term or a UL quote from your BGA partner,

6.

Estate

For final expenses, college funding, the replacement of lost income and

your website, LGAmerica.com or MobileSuite. Then complete Legal

 

Planning

the completion of retirement plans, life insurance is unmatched protection against the risk of premature death. Experts (lawyers, accountants, insurance specialists) can also structure programs using trusts and other legal vehicles to transfer wealth to a spouse or to future generations most efficiently using life insurance.

& General America’s Request for Life Insurance Interview (RLI). It’s part of AppAssist - our drop ticket tele-app program.You can complete the RLI for your client or ask for the help of your BGA back office, your point-of- sale partner, and/or internal office

7.

Completion

Major carriers with direct sales forces are targeting top wealth management

support.

   

clients, and these companies generally have a complete portfolio of savings and investment products in addition to life insurance. If you “give up” the sale of life insurance to someone else, you run the risk of giving up much more.

4. The final step is managing the client’s expectations.

Prepare your client for the 25-35 minute phone interview during

8.

Equivalent

When the death benefit is viewed as a return on premiums paid, a fully

which the application is completed.

 

Tax Yield

guaranteed universal life insurance plan can earn an impressive equivalent tax yield, generally between 6 and 8 percent at life expectancy. Further, it’s a non-correlated asset to traditional investments.

The application can be approved by voice signature and a paramed exam will be scheduled. A one- page What to Expect from Your Life Insurance Interview makes it easy to

9.

Living

Legal & General America bundles an Accelerated Death Benefit (for the

explain the typically 30-day process. Legal & General America will fully

 

Benefits

terminally ill) with its life insurance policies at no additional cost. Long term care riders are also an industry benefit.

underwrite the application and eDeliver the policy to the client. It's always good to touch base once the

10. Discovery

Your clients will expect you to know how much life insurance they need. To do so, you and/or an insurance specialist advisor will, in part, need a complete inventory of assets as part of a fact-finder. Some of these assets may be better managed by you, if not already.

policy is issued and to communicate your availability for questions.

This page not valid without disclosure on page 2.

   

EVERY DAY MATTERS. ® BANNER. WILLIAM PENN.

   

Example:

Male Annual Premiums for $1 Million Death Benefit

Class

Age

OPTerm 20

OPTerm 30

 

35

$490

$870

45

$1,200

$2,020

Preferred Plus

55

$2,860

$5,750

Non-Tobacco

65

$9,200

N/A

75

N/A

N/A

 

35

$620

$1,020

45

$1,430

$2,470

Preferred

55

$3,370

$6,770

Non-Tobacco

65

$11,280

N/A

75

N/A

N/A

 

35

$790

$1,420

45

$1,910

$3,190

Standard Plus

55

$4,290

$8,310

Non-Tobacco

65

$13,780

N/A

75

N/A

N/A

* Assumes premiums paid to age 121 to guarantee death benefit to age 121.

Legal & General America life insurance products are underwritten and issued by Banner Life Insurance Company, Urbana, MD and William Penn Life Insurance Company of New York, Garden City, NY. Banner products are distributed in 49 states and in DC. William Penn products are available exclusively in New York; Banner does not solicit business there.

Banner OPTerm policy form # ICC12OPTN and state variations. In New York, William Penn OPTerm policy form # OPTN-NY. Premiums are guaranteed to stay level for the initial term period and increase annually thereafter. Premiums quoted include $60 annual policy fee. Premiums based on underwriting classes shown. OPTerm Rates as of 10.10.14.

The Equivalent Tax Yield on a life insurance death benefit is defined as the pre-tax annual interest rate at which investments equal to the annual premium would be required to earn outside a life insurance policy to accumulate to an amount that is equal to the death benefit proceeds paid upon the death of the insured. For illustrative purposes only, we have assumed a 35% income tax bracket when determining the Equivalent Tax Yield.

Fifth place ranking among U.S. companies determined by 2014 year end LIMRA report based on survey participants. Rating sources: A.M. Best as of 05.30.14. Standard & Poor’s as of 05.27.14.

Two-year contestability and suicide provisions apply. Policy descriptions provided here are not a statement of contract. Please refer to the policy forms for full disclosure of all benefits and limitations.

Insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. A licensed financial professional can provide costs and complete details. This piece has been designed to provide general information in regard to the subject matter covered. It should be used with the understanding that we are not rendering legal, accounting or tax advice. Such services should be provided by the client’s own advisors. Accordingly, any information in this document cannot be used by any taxpayer for purposes of avoiding penalties under the Internal Revenue Code. Securities and Insurance Products: Not Insured by FDIC or any federal government agency. May lose value. Not a deposit of or guaranteed by any bank or bank affiliate.

For producer use only. Not for public distribution. LAA1879 15-038 (03.11.15)

 

02

WHY SELL LGA?

Financials. For overall financial strength, we are rated A+ (Superior) by A.M. Best and, because S&P considers us “core to our parent, we inherit its AA- (Very Strong) rating. Our COMDEX score of 94 gives us the triple win.

Our parent, Legal & General Group, Plc is the 8th largest insurance company in the world, as measured by 2012 assets under management, according to a 2014 study by A.M. Best. L&G’s history is more than 177 years strong.

We ranked #5 in the U.S. by issued face amount in 2014.

Benefits. Accelerated Death Benefit Rider included with all policies in approved states.

Underwriting. More than 78% of cases are placed in the top 3 underwriting classes.

Rated non-tobacco cases are based on Standard Plus rates.

Stay-at-home spouses can qualify for $1 million or more in coverage.

Retention. Bigger isn’t always better. Our retention limit is $2 million through Table 4. Our reinsurance is in excess of retention with a $20 million automatic binding limit for most ages and underwriting classes. Other carriers are managing their reinsurance using first dollar quota share, meaning they are only retaining a percentage of coverage for each policy. If a carrier is using 90/10 first dollar quota share, it is only retaining $1 million of a $10 million dollar case. We will retain $2 million of the same case.