A Case to Share June 15, 2020

During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
Great way to position and speak about Long Term Care.  Tell this story…
 
Recently a couple was contemplating long term care and they were about settled on the thought that they didn’t need it because they had the where-with-all to self-insure.  
 
The smart and confident advisor said… let’s imagine we were staring at your family home that was burning to the ground with no insurance.  You turn to you wife and say “No worry, we have the funds to rebuild”.  Would it be better to say, “No worry, we have good insurance and we’ll be okay”?
 
The wife turned to husband and said, we’re getting this.
Case 1 
 
A very successful financial advisor providing guidance to his 46 year old successful daughter wanted to assist her with establishing life insurance protection for her family (his grandchildren) and provide her an account that she could tap into for tax free funds for any use in the future.
 
We looked at several IUL options, however we settled on the Variable Life Option with a guaranteed death benefit.  She was able to fund with about $100,000 up front and pay $25,000 annual to age 60.   She would have a guaranteed $2,000,000 death benefit and much more potentially if she lives into her mid 80’s or beyond.  Along the way, she had a nice growing cash value account that she could tap into – estimated to be over $1,000,000 at her age 70.
 
Case 2
 
An advisor had a wealthy female client age 78 that hadn’t really done much in planning and wanted to guarantee a legacy and offset some Estate Tax exposure.  At first glance, you might think not much could be accomplished or leveraged with Life Insurance for a 78 year old.  However you would be surprised that with a $500,000 10 year pay plan she could get a $9,000,000 death benefit at preferred rates.  Through her ILIT, there was also the opportunity to finance the premium. 
 
Case 3
 
CA couple was looking for LTC protection and liked the idea of a Hybrid Life with LTC option.
 
Female age 65 Life with LTC needed.  $500,000 death benefit – John Hancock Recommended.
4% LTC Rider ($20,000 per month for LTC)
Preferred Rate : $11,019    IRR at age 85 7.29%
Standard Rate: $14,412     IRR at age 85 4.99%
Male age 65 Life with LTC protection. $500,000 death benefit – John Hancock Recommended
4% LTC Rider ($20,000 per month for LTC)
Preferred Rate: $11,683    IRR at age 85 6.79%
Standard Rate: $16,682    IRR at age 85 3.71%
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When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income? What would have to happen for your business to continue?
 
Would you like me to look at some life insurance protection for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share May 13, 2020

During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Guaranteed Life Insurance: We have had several cases these last 2 weeks for Guaranteed Universal Life (GUL) and a couple of cases that opted for Variable Life with Guarantees.  Both options will provide guaranteed death benefits through ages 105-126 at more affordable pricing than you might think.  Take a look at the IRR page(s) of an illustration.  Most show a 5.0% – 7.0% IRR through age 90.  
 
In one case, client age 50 Male wanted $1,000,000 Guaranteed and only had a budget of $8,000.  We couldn’t get him the $1,000,000 guaranteed since that cost was over $9,200 annual.  We opted for $700,000 Guaranteed at $6,600 annual and an additional $600,000 of 25 year term at an annual cost of $1,500.  $100 over budget annually, however his family and goals were better protected through age 75. He was happy that his family could continue their lifestyle should his unexpected premature death happen sooner than later. His remaining earning years were better protected and lost social security for his spouse at his death would be protected for life and very likely he would leave a nice legacy should he live a long life. 
 
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Would love your input if you have never done business with Westland – click here  
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income? What would have to happen for your business to continue?
 
Would you like me to look at some life insurance protection for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 29, 2020

During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Pension Max: Client was retiring early with a nice pension. However, the joint life amount was almost $3,000 less per month ($36,000 per year) than his single life pension.  We took $20,000 and applied for a Standard Health guaranteed permanent policy with Lincoln and had a guaranteed Death Benefit of about $950,000.  The client will enjoy an additional $16,000 annual in retirement income and protect his surviving spouse with a nice tax-free death benefit should he pass pre-maturely (his single life pension will cease).  Note: We’re hoping he can qualify for preferred health, then the death benefit will be nearly $1,200,000 guaranteed to age 126 (Lincoln VULOne).
Case 2
 
LTC Protection –  Clients ages 55 and 57 (Male/Female) need LTC protection as they prepared for retirement.  After looking at many options including traditional LTCi, State Life AssetCare and other products, we recommended MoneyGuard policies.  These were quoted with a 10 pay option.  Roughly $4,700 annual for him and $5,700 for her.  In their mid 80’s when an LTC event is likely, they will each have nearly $400,000 for care.   
 
Case 3
 
Supplemental Retirement Income:  Client age 31 deposits $3,291 Annually until age 65 to create a potential supplemental tax free retirement income of $28,000 annually at age 66 for 15 years.  This also supports death benefit that should be $470,000 prior to starting the income and still be about $225,000 at age 90.  Win Win
 
_________
 
When you speak with clients and calm their fears in this volatile market, why not introduce a life insurance and/or a LTC discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income (earned, pension or social security)?
What would happen if you needed to spend an extra $5,000 – $8,000 per month for care expenses?
 
What would need to happen for your business to continue?
 
Would you like me to look at some protection options for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 23, 2020

During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Simple Idea: Client applied for Term Insurance at a Preferred Rate and got approved for a Preferred Plus Rate.  Instead of taking the lower rate (and lower commission amount) we suggested that the advisor increase the death benefit for the same premium the client was willing to pay. Win Win.
 
Case 2
 
Legacy –  Wealth Transfer: Clients aged 72 wanted to enhance their Legacy.  Simple Survivorship (Second-to-Die) Strategy allowed them to deposit $20,000 for 20 years and create a tax-free death benefit for heirs of $1,100,000.  
 
Case 3
 
Supplemental Retirement Income:  Client age 32 deposits $1,000 monthly until age 50 to create a potential supplemental tax free retirement income of $101,000 annually at age 60 for 30 years.  The client will also have a significant death benefit to help fund goals for his family should he pass away prematurely.  Win Win
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income? What would have to happen for your business to continue?
 
Would you like me to look at some life insurance protection for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127