Single Premium Life to Increase Sales and Value

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Single Premium Life to Increase Sales and Value
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• This week we wanted to talk about the leverage,
  tax advantage and guarantees of Single Premium
  Life. How can you use it to increase value to
  your clients and increase your income?
• It is well known that the vast majority of
  annuity owners rarely, if ever, make withdrawals
  from their annuities. Most leave the money to
  heirs. While annuities may be great accumulation,
  tax-deferral, or income tools, annuities are not
  the most tax-efficient resource at your disposal.

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• The fact is life insurance leverages money
  income-tax-free. The problem for most agents has
  always been that it also involves underwriting
  hassles and delays and clients who are reluctant
  to undergo a long invasive process.
• In this day there are virtually limitless case
  design possibilities when it comes to life
  insurance with all the carriers and products
  available. What we want to focus on with you
  today are Life Insurance Calculator specially
  designed for re-positioning of assets, to
  maximize leverage, illness and tax benefits while
  still remaining transactional enough to get
  placed quickly and efficiently.

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• The Key Features
• Key features on specially designed Single Premium
  Policies include
• Simplified Issue Underwriting, designed to
  accommodate clients in good but not necessarily
  perfect health, usually application and phone
  interview, no exams or doctor visits.
• Immediate leveraging of premium up to 100 or
  more depending on age.
• Most have some type of return of premium
  guarantee.
• Many have indexed crediting options for potential
  growth of cash value AND death benefit.
• SPLs typically have Tax Free accelerated benefits
  that are enhanced beyond what you will see on
  other life contracts, some SPLs have Chronic
  illness benefits strong enough they can reduce or
  eliminate the need for expensive long term care
  planning.
• Most SPLs are also going to have emergency
  liquidity via various kinds of partial surrender
  and policy loans options.

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• The Best SPLs
• The best designed and most popular Single Premium
  Lifes incorporate most or all of these key
  features, issue to age 80 or 85 AND offer
  competitive commissions particularly when
  compared to Annuities at older ages. Also, in
  this day and age of increased regulation and
  compliance hurdles, with the liquidity and
  guarantees of SPL, suitability scrutiny is rarely
  an issue.

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• Sources of funds may be savings, life insurance
  cash value, annuity monies, stock funds or
  others. The one thing to keep in mind is that
  generally the best way to fund an SPL is with
  lump sum non-qualified monies. There are SPL-like
  products designed to accommodate qualified funds
  or periodic pay options as well, however they are
  less common and generally not quite as powerful.
• Whatever your exact specialty or focus is, adding
  Single Premium Life to your offering can help you
  get sales and increase your income by servicing
  clients interested in using life insurance to
  immediately leverage their assets for illness and
  wealth transfer without risk on a tax free basis.
  

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