You Can Generate More Income In Retirement, With Safety and Guarantees, Using Annuities

Would you like to be selling more annuities? Then learn a few simple presentations to help your clients to see and understand the value using annuities in retirement. You will find simple presentations, like the one below, in our Insurance Marketing and Sales Resource Center.

In two recent articles on the authors gave a simple but powerful explanation of how, by using an income or single premium immediate annuity, retirees can have more income.  (Retirement For Savers and Investors, by Steve Schankerman & The 1 Percent Advantage, by Sean Ruggiero)

To illustrate their point, let’s look at how much money it would take today to generate $10,000 of annual income!

For Savers

Savers aren’t risk takers; accordingly their focus is mainly on fixed products. The risk for the saver is the uncertainty of future interest rates. Looking at the current average interest rates from let’s see what lump sum would be required to generate $10,000 of annual income.Safe rate options Continue reading

You Can Get Qualified Life Insurance Prospects To Call You?

“Just Find Out What People Really Want Right Now, And Then Give It To Them”

Have you ever heard the story about two brothers who were each going to open a hamburger stand?

It seems the two brothers were quite competitive, and so they had a bet on who could make the most money from their hamburger stand. The younger brother, George, told Ned that he could have any advantage he wanted for his own hamburger stand.

Ned thought for a minute and said, “All right, I want the best hamburgers in town.”

“Fine,” George said, “Your hamburgers will be better than mine. Now what other advantage would you like?”

“I want the cleanest, nicest-looking restaurant in the entire state.”

“Fine,” George said, “Your restaurant will be the best around. What other advantage would you like?”

“I want the friendliest, best waitresses.” “No problem. What other advantage do you want?” “I want the best location for my hamburger stand.”

“You got it- the best location is yours.”

By this time Ned was feeling a bit smug about winning their bet. After all, George had given him every advantage he wanted, so there was no way he could lose.

So when George said, “I would like to have one thing for my hamburger stand, though…”

Ned gladly obliged: “Anything else you want, you got it.”

George couldn’t help but smile: “The only thing I want for my hamburger stand is a starving crowd inside it!” And then he went on to win the bet by a landslide.

So what’s that story got to do with selling insurance and financial services?

Peter Drucker Quote Continue reading

Six Simple Keys To Closing ‘9 Out Of 10′ Life Insurance Sales! (or Annuity Sales)

When I was full time in personal life insurance and annuity sales in the early 80’s, I was consistently closing about nine out of every ten people I sat down with. And, my lapse rate was less then 5%.

It wasn’t because I was a high-pressure salesman. And, it wasn’t because I knew all the latest 101 closing techniques. In fact my normal closing question was… “What Do You Think?”

The reason for my success in closing life insurance and annuity sales wasn’t because I was a natural born salesman. I wasn’t very outgoing. In fact I was very shy. And I didn’t have the gift of gab. During most of my first year, I was so nervous I puked before going out on a sales call.

Although I didn’t realize it at the time, the reason I was able to close 9 out of 10 sales was because I had stumbled upon these six simple keys… Brian Tracy Quote Continue reading

Agents Are Leaving A Lot Of Life Insurance and Annuity Sales On The Table!

Unfortunately, if you are like 95% of today’s agents and advisors, you are leaving a lot of money on the table. You’re overlooking one of the easiest and most profitable ways to significantly grow your life insurance and annuity sales short and long-term. But, don’t feel bad, 95% of all business are missing this one too.

Consider, if someone has already purchased a product or service from you, haven’t they already shown they have some trust in you?

Aren’t they in effect saying that you have some credibility with them?

Haven’t you overcome two of the primary obstacles to closing a sale?

Doesn’t that give you a huge advantage over your competition?

Why not use this huge advantage?

Who would you prefer to do business with… a stranger or someone you’ve already done business with?

Are your clients any different? W. Edwards Deming Quote Continue reading

There Are Better Options For Business Owners!

A few weeks ago a CPA called us with a case he wanted help on. He wasn’t sure what the best course of action was for his client and wanted a second opinion.

He told us that after doing the client’s business tax return, the client was going to owe over $100,000 to the IRS. The client wanted to know what he could do to reduce that amount. The CPA was considering the traditional advice of using a 401k, or some other qualified pension plan. Or, possibly setting up a deferred compensation plan.theirs

While either one of those is a viable option short-term, we told him there might be a better way long-term.

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There Is A Big Problem With Using Qualified Plans!

Whether you are a business owner, executive, or employee, you are probably using a qualified retirement plan like an IRA, SEP or 401(k) plan to accumulate money for your retirement.

On the surface, these traditional qualified retirement plans may seem like a good idea because you receive an income tax break on your IRA or 401(k) contributions. Those retirement accounts grow tax-deferred, and you normally don’t pay taxes on these accounts until you withdraw the money during your retirement.

But, let’s examine these plans in more detail using a traditional IRA as an example. Assume you have 30 years until you plan to retire. Currently, you can contribute a maximum of $4,000 into your IRA, so you invest $4,000 into the traditional IRA for the next 30 years.

Assuming you are in a 28 percent tax bracket, how much of a tax deduction do you get each year? Twenty eight percent of $4,000 is $1,120, so you will save $1,120 in taxes in the form of a tax break, each year, for the next 30 years. Over the entire 30-year period, you will save $33,600 in income taxes through this IRA tax deduction.


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There Is More To Saving For Retirement Than Getting The Highest Investment Returns!

I hope you’ll agree that saving for your family’s financial security and your retirement is critical. And it all starts with paying yourself first. The reality is that it doesn’t really matter where you save your money. What matters most is that you start saving today. Time and compounding interest is what makes your money grow.

However, once you start saving, you can help yourself achieve financial freedom and generate more spendable income in retirement by selecting investment vehicles offering more than just the promise of higher investment returns.

What would your ultimate retirement savings vehicle look like?

If you could design your ultimate retirement savings vehicle, what benefits or features would you like it to have? Let your imagination go wild.

  • Would you want to receive an income tax deduction for the money you put into the plan that’s similar to the deduction you get for many of the current qualified retirement plans?

  • Would you want to be able to put in as much money as you can without regards to how much money you make, with no limits or caps?

  • Would you like to have the money inside the plan accumulate tax deferred? You don’t pay any income taxes or capital gains taxes on the account while your money is building.

  • Would you like to be able to generate a tax-free income during your retirement?

  • Would you like to be able to access all of the money tax-free before retirement and without the early withdrawal penalties associated with traditional qualified retirement plans?

  • Would you like to have a minimum interest rate guarantee each year?

  • How about an opportunity for the higher stock market type returns?

  • What if you could lock in those higher stock market type returns each year and with no risk to your investment principle? (No stock market losses.)

  • If you become disabled, would you like for someone to keep putting money into the retirement plan for you?

  • If you die, would you like for someone to pay your family what you meant to save during your lifetime?
    Saving Money

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Find Your Prospect’s ‘Hot Buttons’

What is the number one problem to making a sale? It’s not money, it’s not the products, it’s hotbuttonnot you.  It’s failure to find the prospects pain. As a sales person, advisor or consultant…. if a prospect does not see their pain why should they buy your product or service?  People don’t just buy what you tell them to buy, if they did we’d all be making millions. Prospects buy when they can see the problem or pain they have and how our product or service can solve or eliminate the pain. It’s that simple.

So, how do we find the pain? By getting them emotionally involved by asking the right questions.  It’s not asking the hard facts, the simple questions like, how much do you have in your 401k or how much life insurance do you have.  It is the soft fact questions that make the difference.  The soft fact questions are the who, what, where, when, how and why questions that help uncover the Hot button.  So after asking the question…

how much do you have in your 401k? Follow up with How has it been performing? or Were you using your 401k for retirement income… if it lost 10, 20 or 30% … how would that affect your retirement? How do you feel about that?

How much life insurance do you have? follow up with, would that be enough money to replace your income for your family if you’re not here? What would they do when the money runs out? what would you like to see happen?

With all this being said here are some other tips to help find HOT BUTTONS!

  1. Be focused in your listening. – Listen, Listen, Listen
  2. What is the prospect proud of? Look for it.
  3. Find out what your prospect’s goals are.
  4. Find out about the prospect’s family or heritage.
  5. Pay attention to what the prospect repeats. What keeps on coming up.
  6. Listen for the emotions. Identify the emotions and what they are attached to.
  7. Ask about what the prospect likes to do most.
  8. Listen to hear the prospect’s vision.
  9. Learn to read between the lines. Some ‘hot buttons’ are hidden, but there are signals.
  10. What are they responding to?
  11. Find out the priorities of the prospect. Ask what the priorities are.
  12. Is there something that the prospect is alluding to?
  13. Guess at the ‘hot button’s based on your other customers and past experiences.
  14. What does the prospect do for fun. What does she/he do in their spare time.
  15. If you were the prospect, what would be your ‘hot buttons’.
  16. Is the prospect dropping any hints?
  17. Find out what the prospect does after work.

By helping prospects see their pain, it makes them take ownership of it and now they want to take action! To be successful, and really help prospects you must find the hot buttons.

Most People Have Unrealistic Expectations For Money Invested In The Market

If you listen to the people selling stocks, bonds and mutual funds; brokerage firms; and magazine articles; just about all of them want you to believe that you can average around 10% a year investing in actively managed funds. However, there is a significant problem with what they are telling you.


Consider, if you were to look at the S&P 500 Index 10 year actual annual return, ending December 31, 2012, you will find that it was only 4.95%. (Note: Very few funds out perform the S&P 500 Index in any given year, let alone over a long period of time.) Continue reading

If You Want To Grow Your Business, You Have To Constantly Make Changes!

How long have you been reading our weekly ‘You Can Make The Difference’ newsletter?

Have you liked what you’ve read?grow

Did you get some good ideas?

Have you applied any of those ideas?

How much have those ideas helped you?

What is keeping you from taking the next step?

Why are you waiting?

If you don’t make some changes, where will you be 6 months from now?

We have experienced advisors who have been following us for years, who have finally taken the plunge and invested in one of our specialized systems, with coaching. And, invariably within a month or two they will call and tell us they wish they had invested in one of our systems and our coaching years ago. Continue reading