Develop your Supplemental Retirement Income Sales
Ideas and Quick Tips to Help You Build Sales
 
 

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The supplemental retirement income strategy uses permanent life insurance
to provide clients with death benefit protection while offering the potential
to supplement their income during retirement. Topics covered below
include:

 

  • 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 salessupport@nacolah.com to learn how to put
this powerful strategy to work for you.


Product Strengths

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

Product Strengths

There are several benefits to discuss with your clients, including:

  • Death benefit protection during both working years and
    retirement years.
  • 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

Product Strengths

  • 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.

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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.


View illustration


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


View illustration


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


View illustration


 

For help with your supplemental retirement income cases,
contact Sales Development today at (800) 800-3656, ext. 10411
or email at salessupport@nacolah.com.