Do I need to die to get this?
What are the 5 ABRS?
Terminal Illness - Critical Illness - Chronic Illness - Critical Injury - Alzheimer's Disease Benefit
What are the two different type of annuities we can fund at National Life?
Bonus: What are the abbreviations for the funding types?
Fixed and Indexed
Bonus:
SPDA and FPDA
Approaching a potential COI - What do you say to gain them as a COI?
Hey COI, I have been working at this new financial firm for the past few weeks/months/years and we have some really interesting things we do for clients. I assume your all set with that but I would love to share 15 minutes with you on what I have been doing, in case you know someone in need of my help. When would be a good time for you to come to my office and I can show you around?
Draw the T chart and explain it to a client?
Draw T Chart on whiteboard
What does GLIR AND LIBR stand for?
Guaranteed Lifetime Income Rider
Lifetime Income Benefit Rider
What is the first death benefit amount band discount for term insurance?
250,000
Name two different crediting strategies we use with annuities?
S&P 500 Pt to Pt, S&P 500 Monthly Sum, Global Balanced, US Fundamentals
Bonus : Which would you use?
Prospect: I own my own coffee shop, down at the shore, WHAT DO YOU DO FOR WORK?
Coffee shop?! Thats awesome! I love coffee, Its funny you ask that, I actually work with small business owners like yourself by helping them scale their business and make sure they continue to grow.
Give me your 30 second commerical
Best one wins
When someone applies for life insurance, how do we know if they are insurable?
Bonus: What is the type of underwriting do we offer?
Underwritten
Bonus: Non Fluid
Describe how the IUL interest is credited?
Its credited based on the growth of an index.
Bonus Question: What index is usually used?
What are Qualified Funds?
Qualified - Have not been taxed yet and need to be 59 1/2 to withdraw without penalty?
Give us a pain statement whos is 55 years old approaching retirement
Example: We work with people who are UNSURE if they are able to retire and SCARED that when they do they will outlive, their money.
Give us the 6 Step Sales Process from start to finish
Introduction > Discovery/Fact Find > Analysis > Presentation > Implementation > Reviews
What are the two types of expenses you should indentify?
Discretionary and Nondiscretionary
How much does it cost to add the chronic illness rider to a term policy?
Its included in the cost there is not fee
Name 4 tax codes and who can contribute?
Bonus - What are the contribution limits on them?
IRA - Anyone
403B - Non for Profit
457 - Non for Profit
401K - For Profit
You just closed up your first client: Give me an example of how you can ask for a referral.
So I am glad I was able to help you out and put you in a better place by getting this plan together for you. Question for you though, do you know anyone personally that could benefit from having a conversation with me?
DAILY DOUBLE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
What is the term for paying too much into a life insurance policy over the IRS limit?
Bond Pays 6% and the fed decides to increase rates. What do the current bonds trade at?
A Discount
How long do I have to convert a 30 year term policy?
Up until 20th year....
Bonus Question: What could interrupt that?
Explain what accumulation base means on an annuity
It is the amount of bonus money that is credited to the annuity in the event that they turn on income they will use that number over the cash value.
You're talking with a prospect and after you explain to them what you do and how you can help them and they tell you " Yeah I have that through my Employer"
What is your response?
I appreciate you sharing that with me. Many of my clients initially told me the same thing but discovered after meeting with us they had a much better understanding of their group benefits. Would it hurt you to have a better understanding of where you currently stand from a protection standpoint? May I make a suggestion? We sit down for 15 minutes discussing your current situation and what you have in place and in the odd chance their were some gaps at least you'll have the knowledge of how to improve it and you can decide if you would like to continue the conversation from there. Sound fair?
Explain the 4 different types of permanent insurance using the L chart
Name three specialists we have in office and who runs those programs?
Chris Curran - College Planning
Don Brown - Special Needs Planning
Todd Bass - HNW and UHNW
Joe Scotti - CPA Relationship Building/ Teachers Pension