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Topics in Life Insurance
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For access to these materials, please call (800) 359-5102 x 354 or email info@lifeagents.com
Advanced Case Design Webinar - 8/31 at Noon Eastern
You are invited to join us Tuesday, August 31st for an Advanced Case Design Webinar.
This one-hour program will help you stay a step ahead of your competition with innovative case design strategies that create entirely new sources of revenue for your practice.
Topics of discussion will include
- Unique strategies for buy/sell and key-person case design
- Cash value products as a term alternative
- High limit simplified and guaranteed issue for the business market
For more information or to request dial-in instructions, contact Matt at (800) 936-0339 option 1 or email info@lifeagents.com .
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Current Assumption Universal Life and Cost of Insurance
Current Assumption Universal Life products are characterized by two primary moving parts:
- The interest crediting rate and
- The Cost of Insurance charges
Interest rates, of course, will change over time, and most universal life products have a “current rate” and a “guaranteed rate”.
Current Cost of Insurance charges are not guaranteed, and may change (increase or decrease) at any time subject only to the upper limit of the guaranteed maximum COI charges as stated in the contract forms. Therefore, consistency in terms of COI rates is viewed as a very attractive feature for Current Assumption products. In this regard, Sun Life Financial and its subsidiaries (Sun Life Assurance Company of Canada and Sun Life Insurance and Annuity Company of New York) have never increased COI rates on any in force block of U.S. Current Assumption UL business since the inception of writing Universal Life products in 1982.
Continue reading for more on current assumption UL and Sun Life’s history of stable COI charges.
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Client Flyer - Disadvantages of Group Term - for Teachers
Group term insurance is often not enough! This client-ready flyer helps explain to consumers the disadvantages of group term compared to individual term life insurance.
This version is directed at teachers. Click here for a flyer targeted at hospital employees.
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Client Flyer - Disadvantages of Group Term - for Hospital Employees
Group term insurance is often not enough! This client-ready flyer helps explain to consumers the disadvantages of group term compared to individual term life insurance.
This version is directed at hospital employees and healthcare workers. Click here for a flyer for teachers
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Client Materials - Buy-Sell Planning Using Life Insurance
Business owners are often so busy with day to day business operations that they may forget to adopt a plan to protect the value of their business interest when they or another owner leaves. Because every business owner will leave his/her business someday, buy-sell planning (usually with life insurance funding) is an important part of protecting business value. Different life insurance-funded buy-sell strategies can be used depending on a business legal structure and the objectives of the owners.
For help with a buy-sell case, call our business planning experts at 800-936-0339 option 1.
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Why write life insurance with Sun Life Financial?
Ranked as one of the largest life insurance companies in North America, Sun Life Financial1 offers an innovative portfolio of life insurance products that can provide solutions for your client’s accumulation and protection needs.
Here are some highlights about Sun Life to consider:
Never Raised Our Cost of Insurance Rates:
While Sun Life Assurance Company of Canada and Sun Life Assurance Company of Canada (U.S.) have the contractual right to change our cost of insurance rates, we have not increased our COI rates on any of our U.S. individual UL or VUL policies to date, although there is no guarantee that we will not do so in the future.
Sun Power Points
The Sun Life Underwriting team uses this innovative health crediting program that may move a rated case by 3 tables or move a proposed insured from Standard to a Preferred risk class.
Financial strength and support
A.M. Best has recognized Sun Life Assurance Company of Canada for maintaining a financial strength rating of A or higher since 1946. Please refer to www.sunlifesales.com to view all appropriate ratings.
Sun Life products to consider:
• Sun AccumULatorSM is a high early cash value product for the individual market. It is ideal for clients looking for insurance protection and cash accumulation on a tax favored basis. Some of the features include:
–~100% cash surrender values in the first 4 years for highly funded cases2
–Competitive Internal Rate of Return on both cash value and death benefit
–No surrender charges
–Interest bonus starting in year 11
• Sun Executive UL targets small to medium size business owners who require high early cash value and competitive cash accumulation to fund business insurance needs such as buy sell, key person and supplemental retirement income for themselves or their employees.3 This product offers unique features including:
–High early cash values which minimize the impact to a firm’s financials
–Special cost of insurance designed for business and executive marketplace
–Flexible underwriting including, Guaranteed Issue on 10 lives or more
–No surrender charges
Both of these products are designed as current assumption products which combine the benefits of life insurance protection your clients need with the ability to heavily fund these polices to take advantage of competitive cash build-up and tax favored distributions.
For more information, quotes, or fast help with your toughest life cases, call Matt at (800) 936 - 0339 option 1 or email info@lifeagents.com .
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Small Business Client Seminar Marketing Program
Our Small Business Client Seminar marketing program is a turnkey package you can use to offer small business clients the opportunity to step up their results while keeping their balance sheets healthy.
Use these free tools to connect with business owner clients and take your practice to the next level.
Click here to view a brief presentation outlining this marketing program
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Turnkey Business Valuation/Business Continuation Marketing System
The FREE Business Valuation/Business Continuation Marketing System gives you all the tools you need, from prospecting materials to closing the sale. The simple 4-step sales process is packed with tools that sell!
Buy-Sell Review Sales Process
* Approach Tools
* Initial Meeting & Fact-Finding Tools
* Presentation & Solution Recommendation Samples
* Funding & Administrative Services
Step 1: Approach Tools
* Exit Planning Campaign Introduction E-Mailer - Send to clients to introduce them to the Exit Planning campaign.
* Free Exit Planning Services E-Mailer - Send to clients to introduce them to the advantages of our free exit planning services and prepare them for your next contact.
* Resolving the Problem of Business Valuation - Use this piece to introduce business valuation and help establish your client’s need. Customizable version available.
* Approach Letter - Use this approach letter to introduce clients to the advantages of our free exit planning services and prepare them for your next contact.
* Approach E-Mailer - Send to clients to introduce them to the advantages of our free exit planning services and prepare them for your next contact.
* Postcard - Use this post card to introduce clients to the advantages of our free exit planning services and prepare them for your next contact.
* Mailer - Send this tri-fold mailer to start business owners thinking about their exit plan. Introduce them to the advantages of our free exit planning services. Enclose in a #10 envelope with your business card.
* Phone Script
Step 2: Initial Meeting & Fact-Finding Tools
Let our Advanced Solutions team prepare an informal business valuation and comprehensive business continuation proposal for your client. Take a look at the sample proposal to see the valuable ideas and sales opportunities that can be uncovered with our Informal Business Valuation services. Start gathering client information and submit an RFP today.
* Request for Proposal (RFP) - Use this piece to gather important client information to receive a customized proposal package.
* Exit Planning Questionnaire - A fact finder that helps gather information needed to design a business succession plan.
* Sample Business Valuation Proposal - Sample proposal for business valuation. Order a customized proposal using the RFP.
* Sample Proposal - Business Continuation - Sample proposal for business continuation. Order a customized proposal using the RFP.
Step 3: Presentation & Solution Recommendation
Our team of Advanced Solutions exit planning experts is available to provide all the support you desire – every step of the way! After preparing your proposal, they will consult with you to review recommendations and discuss sales opportunities.
Informal Business Valuation and Continuation Services:
* Informal business valuation identifies a range of values based on 5 common methodologies
* Business continuation proposal and solution identification
o Identifies recommended transfer and buy-sell solutions.
Information on all of our transfer and buy-sell solutions is just a click away.
Buy-Sell Strategies
* Cross Purchase Buy-Sell
* Entity Purchase Buy-Sell
* Wait &-See Buy-Sell
* Multi-Owner Buy-Out
* Business Continuation General Partnership/LLC
* Select Buy-OutSM
* No-Sell Buy-Sell
* One-Way Buy-Sell
Transfer Strategies
* ESOP
* Gifting Solutions
* Installment Sale
* Self-Cancelling Installment Note
* Interest Only Installment Sale
* GRATS
Step 4: Funding & Administrative Services
When it comes to funding and providing administrative services for your exit plan clients, our experts leave nothing to chance – helping you every step of the way. We offer a broad portfolio of competitive products, sample agreements and top-notch service during the sale and throughout the life of the plan.
* Sample Agreements
* Product Information
o Life Insurance products
o Disability Insurance products
* Underwriting
* Business Market Administration
Request FREE access to the Business Valuation/Business Continuation Marketing System!
Permanent link to Turnkey Business Valuation/Business Continuation Marketing System
Turnkey Buy-Sell Review Marketing System
The Buy-Sell Review Marketing System gives you everything you need, from prospecting to closing sales, and simple 4-step sales process and tools that sell!
Step 1: Approach Tools
* Exit Planning Campaign Introduction E-Mailer -Send to clients to introduce them to the Exit Planning campaign.
* Free Exit Planning Services E-Mailer - Send to clients to introduce them to the advantages of our free exit planning services and prepare them for your next contact.
* Letter - Use this approach letter to introduce clients to the advantages of our free exit planning services and prepare them for your next contact.
* Postcard - Use this post card to introduce clients to the advantages of our free exit planning services and prepare them for your next contact.
* Mailer - Send this tri-fold mailer to start business owners thinking about their exit plan. Introduce them to the advantages of our free exit planning services. Enclose in a #10 envelope with your business card.
* Phone Script
Step 2: Initial Meeting & Fact-Finding Tools
We offer free Buy-Sell Review services that can help uncover potential agreement oversights and funding deficiencies to spotlight sales opportunities. Our team of exit planning experts reviews current buy-sell agreements and prepares a customized summary report for your client – which may include an informal business valuation (see sample below).
* Request for Proposal (RFP) - Use this piece to gather important client information to receive a customized proposal package.
* Exit Planning Questionnaire - A fact finder that helps gather information needed to design a business succession plan.
* Sample Business Valuation Proposal
Step 3: Presentation & Solution Recommendation
Our team of Advanced Solutions exit planning experts is available to provide all the support you desire - every step of the way! After preparing your proposal, they will consult with you to review recommendations and discuss sales opportunities.
Buy-Sell Review Services:
* Identify funding deficiencies
* Recommend life insurance and disability products
* Identify agreement oversights
* Review key person needs
* Identify additional buy-sell and transfer strategies as appropriate
Buy-Sell Strategies
* Cross Purchase Buy-Sell
* Entity Purchase Buy-Sell
* Wait &-See Buy-Sell
* Multi-Owner Buy-Out
* Business Continuation General Partnership/LLC
* No-Sell Buy-Sell
* One-Way Buy-Sell
Transfer Strategies
* ESOP
* Gifting Solutions
* Installment Sale
* Self-Cancelling Installment Note
* Interest Only Installment Sale
* GRATS
Step 4: Funding & Administrative Services
When it comes to funding and providing administrative services for your exit plan clients, our experts leave nothing to chance – helping you every step of the way. We offer a broad portfolio of competitive products, sample agreements and top-notch service during the sale and throughout the life of the plan.
* Sample Agreements
* Product Information
o Life Insurance products
o Disability Insurance products
* Underwriting
* Business Market Administration
Request FREE access to the Buy-Sell Review Marketing System!
Permanent link to Turnkey Buy-Sell Review Marketing System
Life and Annuity Sales Ideas - Upcoming Webinars
Wealth Preservation Using Annuities
Thursday, Aug. 12- 2:00 p.m. EST
Wednesday, Aug. 25 - 2:00 p.m. EST
Estate Conservation and Supplemental Retirement Planning Ideas.
Friday, Aug. 13 - 2:00 p.m. EST
Thursday, Aug. 26 - 2:00 p.m. EST
Request an invitation!
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Life Sales 101 - Buy/Sell Fact Finder
This simple, unbranded buy/sell fact finder will help you gather all of the information necessary for a buy/sell case.
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Life Sales 101 - Needs Analysis Worksheet
How much money will a client’s family need when the client dies? Use this simple life insurance needs analysis worksheet to help clients find the answer.
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Buy-Sell Lessons Learned
A recent Indiana court case reinforces the need to “close the loop” on ownership of life insurance policies funding a buy-sell arrangement when the need for such coverage ends.
Introduction
Many buy-sell agreements use life insurance policies to fund buy-out obligations created by the death of a business owner. Most of these policies are owned by either the business or its owners. Occasionally, they are owned by a trust, an LLC, or a partnership. Each of these ownership alternatives may be appropriate when properly aligned with the overall buy-sell plan design.
A strong majority of buy-sell agreements reviewed by our Advanced Solutions Team, however, fail to address disposition of life insurance policies acquired for purposes of the buy-sell agreement when the buy-sell insurance need ends. A recent Indiana state court case, Hilliard v. Jacobs, 916 N.E. 2d 689, points out the importance of providing for disposition of buy-sell life insurance policies when they are no longer needed to fund a buy-sell arrangement.
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ING IUL-Global - Waiver of Surrender Charge Rider
ING IUL-Global offers a new Waiver of Surrender Charge (WSC) Rider1 that’s designed to generate stronger early cash values by waiving the surrender charge only on the full surrender of your policy (please note, 1035 exchanges do not qualify for the waiver benefit, except in Florida).
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ING IUL Global - Consumer Flyer on How to Access Cash Value
Agents and consumers alike have questions on how to access the cash value in an ING IUL-Global policy, given that there is a 5-year crediting method. This simple one-page Q&A flyer explains the impact of taking a policy loan or partial withdrawal from an index block before maturity, how the index credit is applied to the policy, and how policy loans and partial withdrawals are deducted.
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