Prospecting
What is the number one objective when your prospect someone?
Collect a phone number
What are the year brackets of a term policy?
10-15-20-25-30 Yrs.
What does IUL/ LIRP stand for?
Index Universal Life Insurance.
Life Insurance Retirement Plan.
What are the 4 Types of accounts we can rollover?
401K, 457, IRA, SEP IRA
What if the difference between gross and net?
Before Tax
After Tax
Where do you prospect?
Everywhere
What are the 3 living benefits of the Trendsetter Living Benefit Life Insurance Policy?
Chronical
Critical
Terminal
What the minimum life insurance face amount for an IUL with Transamerica?
25K
What is the percentage of money a client can pull out of the annuity after the first year without penalty?
10%
In a 401K what age do you need to be before you can withdraw money with no penalty?
59 1/2
What is the number one thing your must do when prospecting?
Take it away.
What is the difference of a Term LB and a Trendsetter Supper?
Term LB has Living Benefits
Super is only Life Insurance
What is the difference between increasing and level policies?
Increasing cash value + Death benefit
Level = Death Benefit Only
If your rolling over a ROTH IRA what kind of money are you rolling over?
Non Qualified Money - Money that is already taxed.
What are other terms for tax now, tax later, tax never?
Taxable
Tax Deferred
Tax Exempt
What is the three 3 foot rule?
Talk to everyone that is with in three feet.
At what age does a person not qualify for life insurance?
85 yrs.
How many months do you need to with a policy active with Nationwide/ Transamerica to not get a chargeback?
Nationwide= 13 months
Transamerica 24 months
What is the difference of Non Qualified money and Qualified?
Before tax and after tax.
What does RMD mean and at what age does that occur?
Required Minimum Distribution
age 72
What is the time frame to follow up on your prospect?
24 to 48 hrs.
A 65 yd old male wants a term policy, what is the max yrs you can cover him?
20 yrs.
What is a base insured rider on an IUL?
additional Term life Insurance.
What does G.R.I.P 5 mean?
Guarantees
Rate of Return
Income
Probate
What are the Three IRC Codes in an IUL and how do they work?
72E - Tax Deferred Growth
101A - Tax Free Death Benefit
7702A- Tax Free Withdrawal