Middle-Income Families – An Untapped Life Insurance Market!

Is there any question that, during the past three decades, many of the major companies have been moving into the more affluent markets. They appear to have forgotten whom they initially served and what made them the company they are today. According to LIMRA this leaves the Middle Income Family marketplace wide open. And, in our opinion provides an exceptional opportunity for those financial advisors who learn how to help Middle-Income Families to spend, save, invest, insure and plan wisely for the future, to achieve financial independence. We want to help people to take control over their money using traditional strategies and products to build a solid financial foundation before they ever think about investments.

“When people understand how money really works, they can make their money work for them.”
Rodney Ballance – Understanding The Problem

Most agents and advisors are taught to tell people they need to invest in (or buy) ‘this or that’ by taking additional money out of their current budget. The problem is that many Middle-Income Families are only one or two paychecks away from going bankrupt! They don’t have any savings or even an emergency fund!

Consider, the United States savings rate steadily declined for roughly 25 years, reaching its lowest point in the early 2000s. At the same time, consumer debt levels skyrocketed and the savings rate actually turned negative (U.S. households consumed more than their after-tax income).

Personal Savings in the United States decreased to 2.40 percent in January of 2013. Personal Savings in the United States is reported by the U.S. Bureau of Economic Analysis (BEA). Historically, from 1959 until 2013, the United States Personal Saving Rate averaged 6.89 Percent reaching an all time high of 14.60 Percent in May of 1975 and a record low of 0.80 Percent in April of 2005.

Many households are having trouble increasing their saving. Only 52 percent of the households participating in the 2010 Survey of Consumer Finances reported having saved over the preceding year, down from more than 56 percent three years earlier.

But, the good news is that Americans do recognize the need to save more: In a recent survey byAbsolute Strategy Research, 71 percent of respondents reported that they were “saving too little.”

Now consider, with personal savings rates at one of its lowest rates ever, not only are secure retirements in jeopardy but also many families are one medical emergency or layoff away from financial disaster.

And, there are currently 22 million U.S. families that lack a basic checking or savings account and who are often forced to cash checks through such services as check cashers, which charge high fees.

Also consider that defined benefit pensions, which provide people with a lifetime benefit, used to play an enormous role in providing a safe and secure retirement for many in the middle class. Pensions have successfully helped millions of people prepare for retirement by providing a secure, guaranteed benefit for life. Pensions shield people from the risk of market downturns and the possibility of living longer than expected. However, the pension system has been in a steady decline for decades, and now, only one out of every five people working in the private sector has a pension.

Solving The Problem

We believe that most Middle-Income Families have been at a distinct disadvantage when it comes to managing their money and accumulating wealth. Most of the financial information being passed on by the major publications, the financial media, and TV personalities is really geared towards people who are already wealthy. These are the people who have their basic necessities covered. They have already built a strong ‘safe money’ financial foundation, so they can afford to take risks with their other money!

Wealthy people live in a different world. They are not concerned about qualifying for college financial aid, so their children can afford to go to college. They are not concerned about eliminating debt to improve their cash flow, so they can afford health insurance or put braces on Mary’s teeth. They don’t have to worry about whether there will be food on the table or a roof over their family’s head if something happens to them.

You can help Middle-Income Families by providing them with the little known, unconventional strategies that the wealthy have used for decades to accumulate and hold onto their money. The wealthy were able to accumulate wealth not by taking risks, but by taking a portion of everything they earned and putting it to work for them. They understand that the road to wealth starts when you truly understand that “part of what you earn is yours to keep!”

The reason most Middle-Income Families continue to struggle today is because the conventional financial wisdom that has been passed on from generation to generation isn’t designed to accumulate wealth. The conventional wisdom our great grandparents and grandparents learned was designed to protect their assets during the tough economic times of the great depression.

Found Money Management Strategies

Unfortunately, in order for agents to make money, most Middle-Income Families have been sold policies with low deductibles and all sorts of unneeded expensive riders… They’ve been sold supplemental policies that aren’t really needed. They aren’t being told about quantity discounts and price breaks. And, they’re not taking advantage of the new types of home mortgages.

Plus, the average household credit card debt in 2012 stands at a distressing $7,117 – a startling number considering that if you look at only those households that have debt, the average rises to $15,257. And the American debt profile only gets worse.

  • Average credit card debt: $15,257
  • Average mortgage debt: $149,782
  • Average student loan debt: $34,703

Additionally, in many cases, Middle-Income Families are being told to put their safe money in the wrong places. They are losing money in the stock market, disqualifying themselves for the free money available for college financial aid and paying more income taxes than necessary.

All of this is keeping many families from saving money and building a secure financial future!

We need to help Middle-Income Families to find the money to:

  • Reduce Or Eliminate Their Consumer Debt
  • Maximize The Amount They Can Save From Current Income
  • Reap the Upside Of the Market, While Guaranteeing The Safety Of Their Investment Principal
  • Position Their Assets To Increase Your Eligibility To Qualify For College Financial Aid
  • Minimize Their Income Taxes
  • Position Their Money To Provide More Current Liquidity
  • Maximize Their Savings and Investments For Retirement

And, in many cases, you can help them do it all without taking additional money out of their budget or changing their current lifestyle!

Help Middle-Income Families… And Watch Your Sales Soar!

Now the question is: “Can you really make money helping Middle-Income Families?”

The answer is a resounding “YES!”

…If you learn how to conduct a thorough fact-find to help these Middle-Income Families to see and understand the financial problems they are facing now and in the future, so they want to set better financial priorities. Then you help them to reposition their spending to have the financial security they want and deserve!

“When you’re money is working hard for you, you don’t have to work so hard for your money.”Rodney Ballance

We have many agents that are working with Middle-Income Families, using our Found Money Management™ strategies and are:

  • In front of 20 to 30 qualified prospects every month…
  • Earning an average commission of $3,000 to $5,000 per case…
  • Earning $25,000 to $50,000 per month. (Every month)…

And, you can do it too!

Get the report to learn more!Click Here

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