Thought for the day:
Living without assets is so much more painful than dying rich that people who have no annuity income will either draw down less than they could otherwise afford, or accept a risk that they can’t afford at all.
If you will read no further:
Westland has all of the top term insurance carriers with their rates and forms available on our website and Genworth just announced an average 12% decrease in their term rates. They will be available on our website here next Sunday. You can choose either to get the quotes and forms yourself, 24/7 or proposals, advice and forms from Randy firstname.lastname@example.org or Nancy email@example.com . You can call them at (800) 238-8144 and tell Peggy I told you to call. You will find that doing term insurance thru Westland is so much more satisfying.
Thought for the week:
When people ask me for advice on investments I find that my stress level goes up a notch, especially if I think I have to respond by saying anything but, “Don’t ask me. I don’t have a clue.” My sense is that most of the more knowledgeable wealth managers and investment advisors are in the same place when it comes to insurance questions.
It makes sense when you think about it. Do you really have time to read, digest, and assimilate all the information that is available from the insurance carriers about their products, tax laws and design strategies while keeping current on the economy, stock market, investment products and COMPLIANCE?
Do you know how to increase the income your clients can receive from their retirement assets while reducing the volatility, the taxes and their stress? Josh Ver Hoeve knows about every annuity known to man and can provide you with everything you need to know about placing annuity income in the portfolio. And he knows which is the best company to place it with at any point in time, and why.
Or when the young entrepreneur is looking for a way to increase the amount he is contributing to his IRA or Roth IRA; wouldn’t it be great to show him how to contribute to an insured fund that has the capability of earning upwards of 8% tax free with no downside risk, then pay tax-free income for life. What a nice base to have in the retirement portfolio. Nancy and Randy know how to do all of these things and more. And you don’t have to call several different wholesalers to get it done. They have all of the top carriers and the knowledge to use them appropriately.
Then there is long-term care. You never again have to make a long-term care presentation on your own. Call Chris and let her know you have a client who should have LTCi insurance. We will design the case and propose the appropriate carrier based on age, sex, married status, health and financial ability. Then we will present you with the proposal and assist in the presentation (if you like) by being available on the phone when you talk to the client. Once the client says “yes” we will take the application, arrange for and track the underwriting and present you with the policy ready to present to the client. Since the only other thing we could do for you is spend your commissions, I would say it doesn’t get much easier than that.
Call us and experience the difference between talking to the “sales desk kid” at the “brokerage” and discussing your case with one of our 10 or 20 year veterans of the business. Now that’s what I call providing professional advice.
One more thing:
There are only four financial scenarios possible with regard to potential long term care need.
- Don’t have Insurance; don’t ever need LTC assistance
- Have LTC insurance; don’t end up ever needing LTC assistance
- Have LTC insurance; end up needing LTC assistance
- Don’t have LTC insurance; end up needing LTC assistance
The truth is, 1, 2 & 3 will end up being okay for your client and their family; and you as their advisor. . But the stark truth is long-term care is now costing upwards of $100,000 per year. If you are not encouraging your clients to adopt a strategy that will take a chunk of that off the table, you will have to answer some tough questions from some distraught family members.