IUL BASICS
This is a form of what type of Life Insurance
What is a Permanent Life Insurance Policy?
How is it Tax-Free?
A personal pension plan
What is an Annuity?
This sounds too good to be true.
You've heard of pension plans before, right? Ok, this is very similar to that except it will be your own annuity/personal pension plan, not the company's.
• I’m a Director of Expansion for a Financial Services company.
• I own a Financial Services agency. I help people make a transition into the Financial Services industry. It’s the Money Business, it’s lucrative, you can start part time, we have an amazing training program...
• I’m a professional headhunter for a financial firm, and I’m in charge of attracting new talent to the company.
• I meet with individuals, families, and businesses and help them make and save money.
• I teach people how money works and how to build a successful business around it.
• I specialize in helping families create tax-free retirement income.
Upside 1)___________, Downside 2)___________
What is 1) Potential, 2) Protection
Why haven't I heard about this strategy before?
This is the average annual rate of return
What is 4-7%?
How can you guarantee my principal?
Because we are not investing your money in the market, we just mirror what the market does.
I already have a job.
Well, how do you feel about making a few extra thousand dollars per month in addition to what you make at your job? We have a part-time position you should consider. We create a customized schedule to help train you when you aren’t working at your job. In my experience, I have seen many individuals begin this way and then eventually transition to full-time. Why don’t we exchange information so we can go into more detail?
This avoids what court proceeding when you pass away
What is Probate?
Does the cost of insurance justify saving money within this strategy?
Absolutely, the potential tax savings trump the cost of insurance. Would you rather pay 7-15% in cost of insurance to protect your life and generate tax-free retirement income or pay 35-40% in taxes with no protection? We can run the numbers if you'd like to see how it plays out.
True or False: There are penalties & taxes for doing a direct rollover into an Annuity
What is False?
What's a Living Benefit Rider?
It's a guarantee on your future retirement income.
I don't have experience in Financial Services.
You’d be surprised to hear that many of our most successful brokers had no experience in Financial Services! Many of them came from different and various backgrounds (give examples when possible). The great thing is we have a World Class Training Program that will more than prepare you for the position. Why don’t we exchange information so we can go into more detail?
The term for what Locks in Your Gains
What is The Annual Reset Provision?
What is Guideline?
Guideline is the maximum annual amount that you can send the insurance company and keep the strategy tax-free.
The way the growth is taxed
What is Tax-Deferred?
What happens if the insurance company goes bankrupt?
99% of the time when an insurance company goes bankrupt, a stronger insurance company comes in and buys the book of business for pennies on the dollar. So instead of your statement saying "ING" for example, it would say "Pacific Life." In the event where a stronger company does not come in and buy the assets, then every insurance company in California must participate in the "California Guarantee Association" where: Present value of annuity benefits including net cash surrender and net cash withdrawal values are 80% of the present value up to a maximum of $250,000.
Is this sales? I'm not good at selling and I don't want to sell.
We don’t train salespeople. We train Advisors who can help clients plan for their future. You may be interested to hear that at our company there are no sales quotas or minimums that you will have to meet every month. Why don’t we exchange information so we can go into more detail?
This saves the client 1-3%/year compared to most other investment options
What is No Broker Fees?
Is it tax-deductible?
No, however when you run the numbers it makes more sense to not pay taxes on the back end than on the front end; (C.A.D.)
The following client is suitable for what type of Annuity:
- 55 Year Old Male
- This is his main Retirement Fund
- Plans on retiring within the next 7-10 years
- Family history of heart disease
What is a Walk-Away Annuity?
What happens if I cancel?
If you cancel within your contract, you are subject to a "surrender charge." The charge depends on what year you cancel so it is important to know and understand the terms of your contract.
Is this commission?
How do you feel about commission? (WFA- If they respond they’re not comfortable with commission...) Like most advisor positions in the Financial Services industry, our position is production-based. However, we have a very competitive compensation package and it’s a lot more than just “commission.” It’s real ownership in your own business—a business you can sell on the open market for 3-5x its value. Plus it’s renewal/residual income (meaning you make money every year on the business you do today), stock options, bonuses, and world travel.
(If they show hesitation)...We understand that many people are looking for a base salary or hourly wage. That’s why I encourage you to take a look at our PART-TIME opportunity. We will create a flexible customized schedule for you that will allow you to balance a job and still earn some great additional income with us. Why don’t we exchange information so we can go into more detail?