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A Case to Share April 29, 2020

April 29, 2020 By itops

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

Filed Under: Westland Word

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