Word Tracks / Analogy's
True or False: Select Term policies provide level premiums for 10-, 20- and 30-year periods. At the end of the initial policy term, the policy will automatically renew at a higher premium each year until the insured reaches age 95.
False
Sandra 28
makes $48,000 per year, has $200,000 in debt
$48,000x 5= $240,000
debt $200,000
1st industry standard $440,000
$4,000/mo income, $80 cost of policy, $3,920 monthly income remaining
How many beneficiaries is allowed on a life insurance policy?
up to 10 primary and 10 successor beneficiaries
What is our team goal for Life premium?
$1000
Select Term
This policy is a level term to age 95 life insurance policy.
The initial premium is guaranteed for the # of years selected on application. After the first term completes, premiums increase significantly. These premiums continue to increase annually and are adjustable but will not exceed the maximum premiums listed in the policy. This policy is convertible to the later of age 75 or the end of 5 policy years.
Oh WOW__ Did you know that with ___ if you were to kill someone in a car accident ___ would pay that family $25,000 dollars. HOWEVER if you were to pass away in that same accident __ would pay your family NOTHING. At our office we believe that your family deserves AT LEAST the same amount as a family that you don't even know, wouldn't you agree? ___ That is why at our office, I include a starter life insurance policy with every person I quote. When you come by the office we will tailor it to you and your families needs
Frankie 58
makes $52,000 a year, $300,000 home debt, $20,000 car debt
$52,000x5= $260,000
debt $300,000+$20,000= $320,000
1st industry standard $580,00
$4,333/mo income, $86 cost of policy, $4,247 monthly income remaining
Primary beneficiary is the first person to get paid the death benefit after insured dies. Successor beneficiary would be the next person in line to get the death benefit if the primary has passed.
What is the highest number of units allowed on a children’s term rider?
$20,000
Whole Life
Whole Life is a whole life insurance policy with premiums payable to age 100. This policy is participating and is eligible to receive dividends.
2%
The most important thing I do here is talk to you about the things that matter to you the most and that would be your family right? Now I don't take myself to seriously but I do take what I do seriously because your family is counting on me to come through for them.
Jenna 40
makes $80,000 a year, $38,000 car debt, wants to open a gym $350,000
$80,000 x 5= $400,000
$38,000 + $350,000= $388,000
1st industry standard $788,000
$6,666/mo income, $133 cost of policy, $6,533 monthly income remaining
What is the most important questions we need to ask in order to work up a life insurance quote?
1. Tobacco or Non Tobacco
2. State/ Country PH born in
3. Height/ Weight
4. Beneficiary
5. Social Security Number
6. Drivers License Number
7. Any serious health conditions
What is the term for the period during which a policyholder can cancel their policy and receive a full refund of premiums paid?
Free Look Period
10, 20, 30 Pay
10, 20, 30 Pay Life is a whole life insurance policy with premiums payable for 10, 20, 30 years. This policy is participating and is eligible to receive dividends.
Explain Job A vs Job B
Job A: Makes 60,000 per year, no benefits
Job B: Makes 58,650 per year, life insurance $83/mo life policy, $29/mo for health policy
Kevin 45
$45,000 salary, $30,000 student loans, $5,000 credit card debt
$45,000x5= $225,000
$30,000+$5,000= $35,000
1st industry standard $260,000
$3,750/mo income, $75 cost of policy, $3,675 monthly income remaining
Explain Automatic Premium Loan (APL)
Automatic Premium Loan (APL) is a policy provision. If any premium remains unpaid at the end of the Policy's grace period, a loan against the cash value is automatically made to pay the unpaid premium
What is the highest table rating available?
40
Universal Life
Universal Life (Form Number ICC20 20030) is a flexible premium adjustable life insurance policy. A Death Benefit is payable when the Insured dies. Flexible premiums are payable to the Insured's age 121
S Coverage in Spanish
¡OH, GUAU ____! ¿Sabías que con ____ si llegaras a matar a alguien en un accidente, _____ le pagaría a esa familia 25,000 dolares? SIN EMBARGO, si tú fallecieras en ese mismo accidente, ____ no le pagaría NADA a tu familia. En nuestra oficina creemos que tu familia merece AL MENOS la misma cantidad que una familia que ni siquiera conoces, ¿NO ESTÁS DE ACUERDO? Por eso, con cada persona a la que le doy una cotización, incluyo una póliza de vida inicial. Cuando pases por la oficina, podemos revisar todos los detalles para ajustarlos mejor a las necesidades tuyas y de tu familia.
Linda 25
$75,000 salary, $50,000 mortgage debt, $10,000 credit cards
$75,000x5= $375,000
debts $50,000+$10,000= $60,000
1st industry standard $435,000
$6,250/mo income, $125 cost of policy, $6,125 monthly income remaining
Explain Per Stirpes
Rule of 78s
January: 12 credits, 0 Carryover
February: 11 credits, 1 carry over
March: 10 credits, 2 carry over
April: 9 credits, 3 carry over
May: 8 credits, 4 carry over
June: 7 credits, 5 carry over
July: 6 credits, 6 carry over
August: 5 credits, 7 carry over
September: 4 credits, 8 carry over
October: 3 credits, 9 carry over
November: 2 credits, 10 carry over
December: 1 credits, 11 carry over
What are the living benefits of a Whole Life Policy?
Living benefits can be realized by accessing guaranteed cash values and/or dividends within a whole life policy - or - by accessing the account value within a universal life policy via loans and/or withdrawals.