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True, but there's different ways to look at that saying.
Obviously, Ben Feldman used the same policies for key person, buy/sell, estate equalization, tax planning, etc. Same policy, different uses. (Of course, don't try to make the same policy do too many things at the same time for a client, or it will lose its effectiveness.)
Irwin Burt Meisel wrote a concept book (out of print) called "Pocket Full of $ales". In it, it had a bunch of 1-page concept presentations and he would customize them for the person he was working with. I don't have it anymore, but I vaguely remember some.
For a guy into watches, he had the "Casio" plan, "Timex" plan, and the "Rolex" plan (or something to that effect).
For the pizzaria owner, he had the "Plain Cheese" plan, "Pepperoni and Sausage" plan, and "Supreme" plan.
Anyway, he took the person's profession and labeled his policies in the plan according to prestige/quality within their profession.
Meisel then would add up all the columns for the multiple years and put the equations at the bottom: Term: $0 equity Whole Life: $xx,xxx equity and $xx,xxx death benefit for a given premium. "Which makes better financial sense to you?"
Obviously, Ben Feldman used the same policies for key person, buy/sell, estate equalization, tax planning, etc. Same policy, different uses. (Of course, don't try to make the same policy do too many things at the same time for a client, or it will lose its effectiveness.)
Irwin Burt Meisel wrote a concept book (out of print) called "Pocket Full of $ales". In it, it had a bunch of 1-page concept presentations and he would customize them for the person he was working with. I don't have it anymore, but I vaguely remember some.
For a guy into watches, he had the "Casio" plan, "Timex" plan, and the "Rolex" plan (or something to that effect).
For the pizzaria owner, he had the "Plain Cheese" plan, "Pepperoni and Sausage" plan, and "Supreme" plan.
Anyway, he took the person's profession and labeled his policies in the plan according to prestige/quality within their profession.
Meisel then would add up all the columns for the multiple years and put the equations at the bottom: Term: $0 equity Whole Life: $xx,xxx equity and $xx,xxx death benefit for a given premium. "Which makes better financial sense to you?"
