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Fast & Furious: Five Problems and Five Solutions in Five Minutes

Ready for some fast and furious sales ideas that can help you get a head start on 2022?  Here are some of the best from Windsor and our carriers including:    

The retired wealthy client who has no cash

The couple on the edge of their seats about estate taxes 

The PhD in Financial Engineering 

The retiree with overfunded IRAs

The business owner who needs to find new ways to keep the best people



1,  The retired wealthy client who has no cash - or who doesn't want to spend it right now.

Your client is 78 years old and knows he needs more life insurance – but his usual liquidity is tied up in well-performing investments today, and paying premiums for permanent life insurance just isn't in the cards. Solution?   Guaranteed UL products that can be priced like term insurance when guaranteeing for similar durations.  Term at these ages doesn't offer a very long conversion window if any at all. With a permanent product designed like a term your client can "convert" at any time by increasing premiums as long as the policy is in force.  And you get to be a hero while being paid close to double the term commission because these products include a rolling target premium.  To see a Term Alternative case for a 78 year old client click here.


2. The couple on the edge of their seats about estate taxes – ready to take action but don't know whether they should – or when.

We've seen this show before.  Estate taxes have been in the legislative crosshairs for a few decades now.  For those who see an erosion of their hard-earned family wealth potentially happening somewhere down the line, and who want some peace of mind right now, term insurance has often been the answer.  But term insurance custom-made for survivorship scenarios is hard to come by these days.  Instead, there are products that can mimic term insurance with very low early year premiums for a "wait-and-see" approach.  If circumstances change premiums can be adjusted and permanent insurance protection comes into play.  And the question of insurability is already off the table.  For a comparison of a "wait-and-see" vs. a "do it now" Survivorship Life alternative, click here.


3. The PhD in Financial Engineering who has to squeeze the most out of his investments.

Analytical clients see value in a stepped premium when looking at the Internal Rates of Return (IRRs).  This approach is designed with significantly lower premiums for 20 years or so, followed by much higher than the level pay would be in the out years.  The resulting IRRs are impressive, even for an engineer.  To compare stepped premium IRRs to a level pay click here.


4. The retiree with overfunded IRAs who wants to optimize wealth transfer to future generations.

Rest in peace, Stretch IRAs.  The best option for IRA beneficiaries in the past is no longer available going forward.  So clients with more money than they care to spend in their IRAs must find new ways to maximize the net dollars moving to the next generation.  An IRA Maximization Strategy that uses IRA distributions to purchase life insurance can leverage IRA funds and substantially increase the amount and tax-efficiency of an IRA transfer to the beneficiaries.  It just makes sense. To read more about the benefits of life insurance working in tandem with IRA distributions, click here.


5. The entrepreneur who wants to find and keep the best people on an uber-team that outclasses any competition.

The "Great Resignation" notwithstanding, the best people in their professions want and need to pursue excellence and success. Compensation alone can be a meaningful reward at the start, but there are ways to sweeten the pot that provide "wins" all around.  A deferred compensation or executive benefit agreement is an attractive solution that provides valuable current benefits to select employees, along with both a powerful incentive to stay the course and a key person insurance bonus for your business.  There are several quality carriers offering simplified issue and guaranteed issue plans to ease the underwriting pain – a big advantage both for getting in the door and getting back out with a sale.  Click here for an overview and more information.


Many thanks for these sales ideas and accompanying resources to Windsor's extraordinary Product and Case Design Team - Dan Picerni, Elizabeth Ajemyan, and Larry Gardner!

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Saturday, 13 April 2024

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