- 7,790
That is correct! Dividends from life insurance policies are considered a return of premium overpayment and are not taxed.
Good Income Generator
- Thread starter dimpil1
- Start date
That is correct! Dividends from life insurance policies are considered a return of premium overpayment and are not taxed.
- 9,744
Technically a "return of premium" - TRUE (Bob - glad someone besides me was paying attention during CLU). However INTEREST on accumulated dividends is indeed taxable.
- 7,790
Paul, you just scored 100%. You are hereby awarded a gold star.
Well, at least a smilie.
- 9,744
Paul, you just scored 100%. You are hereby awarded a gold star.
Thanks arn! ChFC too....
NWInsurance
Expert
- 85
Sounds a little fishy
In oregon after 2 years there is no contestability
Lets say they replace the policy and then die after 6 months.
The company can contest the policy and lets hope the client was 100% honest and it can be proven.
In oregon after 2 years there is no contestability
Lets say they replace the policy and then die after 6 months.
The company can contest the policy and lets hope the client was 100% honest and it can be proven.
- 477
Not to be the bad guy here but she came on to share an idea; a really good marketing off the wall one too, if I may add.
Many of you were quick to point much bad and raise ethics' issues, while a few others pointed out some good legitimate things to be cognizant of - thank you.
And for those who are quick to jump on someone for thinking out of the box, why don't you please relax a bit?
And take a concept to see if you can apply it in your prospecting? You should thank her for this - as we all know, most do not share. You know, share. Something she did.
If unique marketing, then sales. If no sales, then no unique marketing. 'Operative' word = unique.
She found a unique way to get in the door, where most faulter and where most cannot these days for various reasons.
During the sales call, all of the other formalities can be fully disclosed. People do NOT give seniors enough credit. They are not that confused and ignorant as some think. If you're real and legite, that will come across. Remember, these people have at least walked 10,000 more trails than wew have so most seniors are not naive and if later - they were to play a naive card, it is because something either the agent did or did not do (but maybe some outside force or relationship entered the equation that the agent had nothing with to do) could kill a deal - where then - a senior may feel compelled to play the 'confused' card to get out of a deal for fear of confrontation of the salesman or something other. But the majority are not confused and if confusion enters the equation due to the agent- then shame on the agent for not having that 3rd party person who helps with decisions on initial sales call.
The OP is exicted and trying to help others on here think outside the the 4 angles. Kudos to this gal! Do the right thing; be real, do your dd, and cya as always. Minimal or no worries. K. And this applies to all products for seniors and others.
Many of you were quick to point much bad and raise ethics' issues, while a few others pointed out some good legitimate things to be cognizant of - thank you.
And for those who are quick to jump on someone for thinking out of the box, why don't you please relax a bit?
And take a concept to see if you can apply it in your prospecting? You should thank her for this - as we all know, most do not share. You know, share. Something she did.
If unique marketing, then sales. If no sales, then no unique marketing. 'Operative' word = unique.
She found a unique way to get in the door, where most faulter and where most cannot these days for various reasons.
During the sales call, all of the other formalities can be fully disclosed. People do NOT give seniors enough credit. They are not that confused and ignorant as some think. If you're real and legite, that will come across. Remember, these people have at least walked 10,000 more trails than wew have so most seniors are not naive and if later - they were to play a naive card, it is because something either the agent did or did not do (but maybe some outside force or relationship entered the equation that the agent had nothing with to do) could kill a deal - where then - a senior may feel compelled to play the 'confused' card to get out of a deal for fear of confrontation of the salesman or something other. But the majority are not confused and if confusion enters the equation due to the agent- then shame on the agent for not having that 3rd party person who helps with decisions on initial sales call.
The OP is exicted and trying to help others on here think outside the the 4 angles. Kudos to this gal! Do the right thing; be real, do your dd, and cya as always. Minimal or no worries. K. And this applies to all products for seniors and others.
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Nothing wrong with outside the box thinking. All of us are constantly searching for new & creative ways to make sales.
But there are some sales ideas that are a walk on the wild side and if not handled properly can create disastrous results.
This idea is one of them.
Another, perfectly legitimate pitch is pension max. You can still use this creative approach but the applications are much more limited now since fewer people have DB pension plans. You also have a ream of paper work to present, have executed and approved by the carrier before you can ever put your plan into effect.
But there are some sales ideas that are a walk on the wild side and if not handled properly can create disastrous results.
This idea is one of them.
Another, perfectly legitimate pitch is pension max. You can still use this creative approach but the applications are much more limited now since fewer people have DB pension plans. You also have a ream of paper work to present, have executed and approved by the carrier before you can ever put your plan into effect.
- 477
I agree; I was sticking to the original theme of - generating - how we can still self-generate at a time where it's an absolute MUST we be unique - not to dupe - but just hey, give me a shot to come in- hear the speal - and move forward with or without a sig.
Do the homework and do the right.
Tx.
Do the homework and do the right.
Tx.
- 2,370
I agree. Just take out the word rebate and play with it a bit and I think you will do fine, as mentioned prior.
Just ask them if they are familiar with a 1035 exchange. They will 99% of the time say no and start explaining it.
Just ask them if they are familiar with a 1035 exchange. They will 99% of the time say no and start explaining it.
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