Time to renew "Buy Term & Invest The Difference" ?

[DHK]

If you're going to go down this road, subscribe to the VSA for $23.95/month. It'll help you keep out of trouble and it's a great resource.

The VSA

 

[myinsurebiz]

If you use annuities, you will. Is this your newest squirrel chase?

Luis - not funding the Roth IRA with anything but cash, and probably though payroll deduction or EFT for the Self Employed.

Just trying to find the "Invest The Difference" part of this equation.

It needs to be simple to understand by the client and simple to understand by the Agent.

 

[KRobby]

Thinking more of the lower / middle class funding the IRA with after tax $ from their jobs, businesses, etc . . . Like $50 a week or $500 a month to the max, etc.

Needs to be able to be done by the average L&H Agent - that's why I'm thinking IRA and FIA . . .

Most good FIAs come with a minimum that exceeds annual IRA contributions. Not to mention, would be very hard to be approved by the carrier.
If you're not getting any securities licenses, FIA are great to use. Just stay away from the IRA stuff if that's the case. (Not to mention commission would go from $40 to $4000). IRA paydays come from rollovers, not getting someone setup.

 

[myinsurebiz]

Most good FIAs come with a minimum that exceeds annual IRA contributions. Not to mention, would be very hard to be approved by the carrier.
If you're not getting any securities licenses, FIA are great to use. Just stay away from the IRA stuff if that's the case. (Not to mention commission would go from $40 to $4000). IRA paydays come from rollovers, not getting someone setup.

I'd get paid from the Term / Life biz + whatever else the client may enroll in. Just thinking of helping them setup the IRA as a courtesy ( maybe even earn a small referral fee )

But, have to keep it simple.

 

[KRobby]

I'd get paid from the Term / Life biz + whatever else the client may enroll in. Just thinking of helping them setup the IRA as a courtesy ( maybe even earn a small referral fee )

But, have to keep it simple.

Getting them setup basically consists of checking the box on the application that says IRA. And maybe another page to open. But you won't be able to walk them through any of that without a license for whatever you're discussing to be in the IRA, unless it's like a cd or something.

 

[myinsurebiz]

Getting them setup basically consists of checking the box on the application that says IRA. And maybe another page to open. But you won't be able to walk them through any of that without a license for whatever you're discussing to be in the IRA, unless it's like a cd or something.

Exactly. Simple.

I'm not trying to be anyone's "financial advisor". If someone needs a greater level of service that I offer - I can just refer it out and get that "referral fee" if available.

But seriously - just targeting the lower / middle income and getting them higher face with the Term with ROP and showing them how to put some money away each week / month in the IRA and have something for retirement / tough times.

 

[myinsurebiz]

If you use annuities, you will. Is this your newest squirrel chase?

Just giving my Agents additional options for the younger / healthy folks.