Single Premium Life to Increase Sales and Value - PowerPoint PPT Presentation

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Single Premium Life to Increase Sales and Value


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Title: Single Premium Life to Increase Sales and Value

Single Premium Life to Increase Sales and Value
  • This week we wanted to talk about the leverage,
    tax advantage and guarantees of Single Premium
    Life. How can you use it to increase value to
    your clients and increase your income?
  • It is well known that the vast majority of
    annuity owners rarely, if ever, make withdrawals
    from their annuities. Most leave the money to
    heirs. While annuities may be great accumulation,
    tax-deferral, or income tools, annuities are not
    the most tax-efficient resource at your disposal.

  • The fact is life insurance leverages money
    income-tax-free. The problem for most agents has
    always been that it also involves underwriting
    hassles and delays and clients who are reluctant
    to undergo a long invasive process.
  • In this day there are virtually limitless case
    design possibilities when it comes to life
    insurance with all the carriers and products
    available. What we want to focus on with you
    today are Life Insurance Calculator specially
    designed for re-positioning of assets, to
    maximize leverage, illness and tax benefits while
    still remaining transactional enough to get
    placed quickly and efficiently.

  • The Key Features
  • Key features on specially designed Single Premium
    Policies include
  • Simplified Issue Underwriting, designed to
    accommodate clients in good but not necessarily
    perfect health, usually application and phone
    interview, no exams or doctor visits.
  • Immediate leveraging of premium up to 100 or
    more depending on age.
  • Most have some type of return of premium
  • Many have indexed crediting options for potential
    growth of cash value AND death benefit.
  • SPLs typically have Tax Free accelerated benefits
    that are enhanced beyond what you will see on
    other life contracts, some SPLs have Chronic
    illness benefits strong enough they can reduce or
    eliminate the need for expensive long term care
  • Most SPLs are also going to have emergency
    liquidity via various kinds of partial surrender
    and policy loans options.

  • The Best SPLs
  • The best designed and most popular Single Premium
    Lifes incorporate most or all of these key
    features, issue to age 80 or 85 AND offer
    competitive commissions particularly when
    compared to Annuities at older ages. Also, in
    this day and age of increased regulation and
    compliance hurdles, with the liquidity and
    guarantees of SPL, suitability scrutiny is rarely
    an issue.

  • Sources of funds may be savings, life insurance
    cash value, annuity monies, stock funds or
    others. The one thing to keep in mind is that
    generally the best way to fund an SPL is with
    lump sum non-qualified monies. There are SPL-like
    products designed to accommodate qualified funds
    or periodic pay options as well, however they are
    less common and generally not quite as powerful.
  • Whatever your exact specialty or focus is, adding
    Single Premium Life to your offering can help you
    get sales and increase your income by servicing
    clients interested in using life insurance to
    immediately leverage their assets for illness and
    wealth transfer without risk on a tax free basis.

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