Ideas and Quick Tips to Help You Build Sales
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to provide clients with death benefit protection while offering the potential
to supplement their income during retirement. Topics covered below
- Client profile
- Helpful tips
- Illustration software tips
- Samples cases
North American is here to support your sales efforts—
please contact us today at (800) 800-3656, extension 10411
or email firstname.lastname@example.org to learn how to put
this powerful strategy to work for you.
Here are some characteristics of supplemental retirement income clients:
- Ages 30-60
- Need of life insurance protection
- Middle to high income
- Concerned about family's financial needs if death occurs
during work years
- Looking to supplement financial security in retirement years
- Self employed, member of a partnership, or corporate employed
There are several benefits to discuss with your clients, including:
- Death benefit protection during both working years and
- Cash values inside of a life insurance policy grow tax deferred.1
- No income contribution limits and generally tax free withdrawals
and loans to the cost basis (assumes non-modified endowment
contract status (MEC).2,3,4,5
- Avoid modified endowment contract (MEC)5 status.
- Aim for a minimum non-MEC death benefit that meets your clients'
needs for life insurance protection—lower death benefits may allow
the policy to accumulate greater cash value.
- When using the guideline premium test (GPT), if consistent with the
client's needs, it may be beneficial to use the increasing death benefit
option during the funding years, while changing the death benefit
option to level during the income years. This may allow for greater
cash value accumulation.
- The policyowner has the option to choose between net zero cost6
loans and variable interest rate loans. For variable interest rate loans,
consider running the illustration at several loan interest rates to
understand how the rate impacts the illustrated performance.
Sample Case One: Builder IUL
Take a look at Builder IUL® to help your clients build long term cash value growth.
This indexed universal life insurance product offers a guaranteed interest bonus on
the index account along with several index selections to help build the potential for
long term cash value accumulation.
Sample Case Two: Rapid Builder IUL
Rapid Builder IUL® is designed to help build early cash values and offers a Waiver
of Surrender Charge Option.7
Sample Case Three: Survivorship GIUL
A second-to-die indexed universal life insurance product with an optional death
benefit guarantee8 and a Waiver of Surrender Charge Option.7
contact Sales Development today at (800) 800-3656, ext. 10411
or email at email@example.com.