Need Help for Selling Par Whole Life As a Retirement Strategy

[frappesos]

Hello

New to this forum and looking for some help on what to say to get the client engaged in the conversation at the first meeting wether rich or middle class about life insurance as a supplemental retirement strategy. I would like to do this for every appointment I see.

I really appreciate your help and thanks for having me be part of your community

 

[Norwayguy]

I ask questions. What do you think of the US debt? Where do you foresee taxes going? When they say up I point out the tax benefit they are currently benefiting from contributing to a pretax retirement account. (Most of my teacher clients its 23.5% fed & state) I then point out the current income to get into the 15 fed tax bracket and how student loans, mortgage and children deductions will be gone in retirement and they will be looking at paying the same or more in taxes.

So based on what we just discussed why are we deferring taxation. That make the case for a Roth sale. From there its showing the benefits a maximum funded policy can provide. I also love to added waiver of stipulated premium (IUL) so if sick or hurt the plan is self fulfilling.

 

[frappesos]

I see Let me ask this: What do you say when you first sit down and thank them for meeting you? what is it that you tell them you do so you can start the questions?

I really appreciate your help

 

[Norwayguy]

I see Let me ask this: What do you say when you first sit down and thank them for meeting you? what is it that you tell them you do so you can start the questions?

I really appreciate your help

Most of the time these are current clients. I know the tax benefit they are getting for the contributions so I have a supplemental illustration already prepared using the after tax amount for a minimum death benefit max funded option b IUL. It normally still takes some thinking on thier part because it is not the norm everyone else is doing I explain the difference and then go 1 of 3 things will happen.

1 you will die before reaching retirement this option provides more money tax free for your family day 1.
2 You will get sick or hurt and can not work. This will complete you plan.
3 You will reach retirement. The illustration shows more retirement income. I know the question you should be asking. What happens if the market does not perform as illustrated? That is a good question to ask, let me ask you this, do you not have the same risk of the market not performing in your current variable annuity? The answer is Yes. Do you not also have the risk of going backwards with a market loss? And the answer is Yes.

That is why I am making this recommendation.

 

[frappesos]

i like your thought process,

im just trying to frame the discussion with the prospect to get them engaged and wow them so that i can earn the right to fact find and uncover all needs.

do you have an idea on how to start the first meeting?

thsnks and wont bother you anymore

 

[Norwayguy]

What are they sitting down with you for now?

 

[frappesos]

I want to set up meetings to educate people that there is anoher way or at least a supplemental way to a qualified plan that allows for more options and safety for the client

 

[Norwayguy]

I want to set up meetings to educate people that there is anoher way or at least a supplemental way to a qualified plan that allows for more options and safety for the client

Personally I think your going to have your work cut out for you to get people that have never met you to sit down to a meeting that is the exact opposite of the current common sense approach. I don't disagree with you but I get some push back from clients I've had for years, I ask them to let me make my case.

 

[frappesos]

i think you are right

 

[Norwayguy]

i think you are right

Why not sit down and solve a problem they have instead of what you want to sell. Then next year when you do your review let them know you have an idea you want to share with them.