Wealth Transfer Products

Dec 30, 2006

  1. dvd493
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    dvd493 Super Genius

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    Anyone hear of the wealth transfer products some insurance companies have come out with like Americo and F&G?
     
    dvd493, Dec 30, 2006
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  2. James
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    James Guru

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    LOL, yea isn't that basically what some call life insurance?
     
    James, Dec 31, 2006
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  3. James
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    One thing I find useful if you can steer a conversation, esp. with seniors between the age 65-75 and in good shape (able to get favorable underwriting). "Oh by the way dear Senior person, do you have any assets (such as cash) you're planning on passing on to an heir, church, university, charity etc etc???" Like the old men in this area associated with a local Babtist Church have this thing going, who leaves more when they die to the church? My wife's grandfather (uninsurable now) got mad because an old friend of his died last year and left more then he planned on leaving to the church at his death. In other words its a competition thing going on, who has the most to leave to the church at their death? This one person left 100 grand, well Wallace had 50 grand set aside in CD's for the church at his passing. Since then he has transfer a hefty amount and remarked "Bill aint going to beat me!", of course in a friendly manner.

    So after you ask the question, and if they are planning on leaving money behind to a third party, show them how buying a life contract such as the One Pay W/L will leave more money behind and the cash and a hefty part of it will be available in a emergency situation. Plus its tax free, this matters if its going to a person or organization that doesn't have tax exemption.
     
    James, Dec 31, 2006
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  4. dvd493
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    dvd493 Super Genius

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    Americo has "Lifetime Legacy" that is a single pay or 7 pay. It is for ages 55-75 and depending on the age you start can produce an immediate return of about 280%. It has some flexibility also. You can borrow against it. Up to 80% of it can be used for nursing care. It can usually be transfered to heirs tax free. It seems like a good product for a senior who has cash in the bank and wants to leave more behind.
     
    dvd493, Dec 31, 2006
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  5. maryjd123
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    maryjd123 Super Genius

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    check out Assurity Life
    they are in Lincoln Nebraska
    phone is 800-276-7619

    its the legacy estate maximizer

    issue age 0 to 85 wealth transfer product

    pays 15% commission to the agent...
     
  6. maryjd123
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    maryjd123 Super Genius

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    almost forgot

    i went thru www.seniormarketsales.com and signed up with them thru this group

    they are really helpful with training and questions
     
  7. James
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    James Guru

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    Once again nothing but life insurance contract with some basic ryders! All companies have this type of product. It isn't the product though, its the ability to steer the conversation to this or knowing how too use a product in real time that confuses most.
     
    James, Feb 2, 2007
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