PRESENTATION OBJECTIONS
If the client says, "How come I haven’t heard of this before?" You would say?
When was the last time you sat with a financial professional?
What is the difference between accumulated value and cash surrender value in an IUL or FIA?
Accumulated value is how much you have and cash surrender value is how much you can access or would receive if you were to cancel your account.
What is the difference between Term Insurance & Permanent Insurance?
Term will expire
Permanent will last for as long as premiums are paid
What does MACHO, STEAM, and MBA stand for?
Sales Married
Teachers Age 28
Entrepreneurs Children
Ambitious Home
Money Motivated Occupation
Military
Bilingual
Athletic
How do you structure an IUL for immediate access to cash?
Minimum Non-Mec: Lowest death benefit to match their highest annual contributions
If a client says: “Out of these three? I would choose variable”, you would say?
That's great, but wouldn't you agree you don't want all of your eggs in one basket? Diversification is key.
What number do you use to calculate your commission on an IUL illustration?
Target Premium
What are the 3 Living Benefits included in a Term LB or IUL?
Critical, Chronic, Terminal
What are the 2 main scripts we use to call to book FTA's and HI's for new partners?
ETHOR
3 Good Qualities
What year was the IUL created & by what company?
Transamerica in 1997
If the client says, "I heard I was going to retire in a lower tax bracket", you would say?
With taxes rising, when you retire, you don’t have any tax deductions - therefore how could you end up in a lower tax bracket?
What is the difference between option A and B on an IUL illustration?
Option A is a Level Death Benefit and Option B is an Increasing Death Benefit
What is the difference between a Growth and Income Annuity?
Growth: To grow your money
Income: To create income for life
What is tap rooting?
Get your business partner a business partner right away!
What is the difference between a standard loan and an alternative/variable loan?
Standard Loans remove your cash from your policy.
Alternative/Variable Loans allow you to borrow the insurance companies money, using your cash value as collateral and not getting depleted.
If a client says: “I contribute to my 401(k) because I heard it lowers my tax bracket”, you would say?
Have you ever actually looked and see if contributing to your 401k puts you into a lower tax bracket?
What is the closing question you say at the end after presenting an IUL illustration?
If you give me this, and I give you that, would you take that deal? Would that be a fair trade?
What are the 6 activities of daily living?
Bathing, dressing, toileting, transferring, eating and continence
What is the point/overall goal of Onboarding 1, 2, and 3?
Onboarding 1 - Sell the dream on the products
Onboarding 2 - Sell the dream on building a business & book HI's
Onboarding 3 - Book (10) FTA's
What are the 3 ways you give up some of the growth on your IUL in exchange for zero risk?
Spread, Cap, Fee
If the client says, "I don’t need any life insurance", you would say?
Sell the benefits and the features that would be of most interest to them, not the product.
How do you include the bonus in an annuity illustration?
It's automatically included
What are the 4 types of permanent life insurance and how does the cash value grow inside each type?
Whole - Fixed Rate + Dividends
Universal Life - Interest Rate set by the Insurer
Variable Universal Life - In the stock market
Indexed Universal Life - Mirroring the stock market
What is the contract percentage for EMD & what are the requirements to hit EMD?
80% Contract + Up to 5% bonus'
(10) Net Licensed Agents
150,000 pts over 6 months OR 240,000 over 12 months
(1) Marketing Director Leg
$100K earned in 12 rolling months
What are the 3 IRC tax codes (you would know this if you read The Laser Fund)?
72(e): Tax-deferred growth
7702(a): Tax Free Access while living
101(a): Tax-free death benefit