48k in Premium Needed this Year??

[AdvisorsIns]

This. Do a performance evaluation on their existing life policies (if healthy), then shop the case. You will find a lot of imploding UL only guaranteed until 70-80. Order their in-force illustrations, shop it, and put together a better option. They'll be in a better position after you extend their guarantees to 120, and you'll get paid on target for the case, plus a little for the 1035. Easy way to hit your goal.

Great idea. Do you try to get the in force illustration for them or do you get them to acquire it?

 

[WinoBlues]

Re: 48k in Premium Neede this Year??

Great idea. Do you try to get the in force illustration for them or do you get them to acquire it?

You order it. You always want to control the process or any he other agent will.

 

[Gabe9175]

Re: 48k in Premium Neede this Year??

I have always been a big term life seller. I multi-line my P&C client with about 3-4 per month and average $500 per policy. I need to get 48k in premium this year to qualify for travel. What are the best ways to get this done?

If you have whole life product available to you this is what I used to do when life insurance was mainly what I did. Get in with non profits like credit unions, churches, and local organizations. If they are a non profit they do not face the same tax concequences as an individual. They have the ability to take out a small WL policy and dump a large amount of money in them without it turning into a MEC. It takes the death benefit and shoots it through the roof meanwhile they can access the funds whenever they want without taxation or penalties as well as borrow against the cash value. They become their own bank and borrow money from themselves vs. spending that money or paying a higher interest rate at a bank. I have written a few of those in the past with over 50k in annual premium. You only need one

 

[AdvisorsIns]

If you have whole life product available to you this is what I used to do when life insurance was mainly what I did. Get in with non profits like credit unions, churches, and local organizations. If they are a non profit they do not face the same tax concequences as an individual. They have the ability to take out a small WL policy and dump a large amount of money in them without it turning into a MEC. It takes the death benefit and shoots it through the roof meanwhile they can access the funds whenever they want without taxation or penalties as well as borrow against the cash value. They become their own bank and borrow money from themselves vs. spending that money or paying a higher interest rate at a bank. I have written a few of those in the past with over 50k in annual premium. You only need one

Thank you for this post. Interesting idea.

 

[Gabe9175]

Re: 48k in Premium Neede this Year??

What have you done to bring in some of the large accounts?

I was fortunate to know some former NFL players that had non profits to help with the taxes.

 

[MikeRobinson]

Whole life. Curious as to what is the better choice for customer versus say UL or ? Are u asking for lump sums or installments? We have a good amount on non profits and need to learn more