Annuity Pitch/presentation

Discussion in 'Annuities Forum' started by BoomBoom68, Mar 8, 2015.

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  1. BoomBoom68
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    BoomBoom68 Active Member

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    Do you use a pitch book? Power point?
     
  2. DHK
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    DHK Well-Known Member

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    Nope. No scripted presentation. Legal pad & pen.

    I will have a reference binder with various IRS publications - primarily IRS Publication 590 on IRAs, but that's about it.
     
  3. BoomBoom68
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    BoomBoom68 Active Member

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    Thank you fit the reply DHK ... I just googled that ... What is it that you specifically use that for?
     
  4. GreenSky
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    GreenSky Well-Known Member

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    You ask questions as if you're looking to get into insurance.

    Are you licensed now and if so, what product(s) do you actually sell?

    Rick
     
  5. BoomBoom68
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    BoomBoom68 Active Member

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    I'm new ... 6 months in ... Working for a company similar to NAA ... Selling mostly mortgage protection and final expense ... I realize there are a lot of negatives to working for an NAA type company ... I'm at a 70% payout ... Based on the limited knowledge I have, I recently sold two small annuities $70k and $50k ... I'm just looking to improve, get some guidance and learn from some of the more experienced forum members.
     
    Last edited: Mar 8, 2015
  6. GreenSky
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    GreenSky Well-Known Member

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    Ok, that makes sense. I saw you got here 4 years ago and didn't realize that you are indeed only 6 months in.

    The more important question you should be asking is how to get in front of people, not how many sits, power points, etc. Everyone sells differently. For example, many agents sell Medicare supps using a one-call close, meaning over the phone. I use a 2 call close with the first call just to see level of interest. I then email (or mail) information. The actual close is on the follow up phone call.

    Anyone can sell anything. You don't have to be a good salesperson. I suck at sales but I'm really good at having a conversation.

    Prospecting is 95% of the business. Knowing the "math" behind the value of what you're offering is the other 15%.

    Rick
     
  7. BoomBoom68
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    BoomBoom68 Active Member

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    Yes, I was in mortgages for a long time and flirted with idea of gettingintoinsuradevgirva while ... I joined 4 years ago ... Popped in here and there to read and learn ... Finally pulled the trigger in August ... All my appointments are FaceTime face ... God I'd love to sell over the phone like the good old days in mortgages ... I hate showing up to people's homes and getting no showed lol .. Doesn't happen a lot, but when it does it puts me in a foul mood lol
     
  8. DHK
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    DHK Well-Known Member

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    It puts me in a foul mood to think that you want to sell annuities, but you don't know why you would want to reference an IRS publication on IRAs.

    You need to take a class on retirement planning.

    In short answer - selling annuities is NOT like selling mortgage protection life insurance. It goes FAR deeper than that.

    And I assume you don't want to sound like this "peddler": http://www.insurance-forums.net/forum/annuities-forum/fixed-annuities-vs-varible-t73249.html
     
    Last edited: Mar 8, 2015
  9. BoomBoom68
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    BoomBoom68 Active Member

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    Thanks for the kind words DHK ... Appreciate it ... So you're saying you can't sell an annuity without referencing IRS Publication 590???? Lol

    I'm familiar with IRA's as I had a brief stint with Merrill. My question was ... What exactly do you find pertinent in that IRS publication 580 that you feel you need to share with your clients during your pitch??
     
  10. DHK
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    DHK Well-Known Member

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    Okay...

    #1 - Never "pitch" anything. I have conversations. Conversations that revolve around their needs and preferences. It's not "sign here and buy an annuity". It's figuring out if it would be a fit, and if they would prefer to use an annuity to help manage their retirement portfolio.

    #2 - Notice the wording on the cover of IRS Publication 590 - Individual Retirement Arrangements (not just accounts).

    #3 - Talking about RMDs. You can use the life expectancy tables to help you calculate an RMD distribution calculation. It's also a good check to ensure that the annuity (especially with living benefit riders) you may be proposing is "RMD friendly" in case the Required Minimum Distribution goes above the guaranteed amount in a given year and if it'll skew the guarantees offered by the rider.

    #4 - Confirm the income taxation structure of IRAs and Roth IRAs. Many people are clueless and until you can point to something official, they may not believe you when you tell them that IRS distributions are taxable.

    #5 - In addition to all this, have a current "tax tables" to show the tiered income tax rates.


    Be a consultant and help consult with your client about the tax nature of their IRAs, 401(k), Roth IRAs, etc.
     
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