I will start out by saying that the things listed above have happened before, and will happen again. People are starting to get worried. The American public has been used to an astronomical rise in the markets since President Trump was elected. Oops. We had the big downturn in February/March 2020 due to covid.

For us older agents/advisors, we remember the “Cold War” and the removal of the Berlin wall. Granted, I was young, but I do remember the Cuban Missile crisis, too. Okay, I will age myself, I was selling life insurance in Baltimore in 1974-1975 and my wife and I had our “gas passes” to fill up twice per week (only 10 gallons). I could go on and on with the dot com crash, 9/11, and more. But, again for those in the business for a while, these were the best times to be in the life and annuity business. Our “Safe Money” products were in demand. And, they still are. Please read on…

“Baby Boomers” and “Seniors” are concerned about rising costs… of course. But, they are very concerned about their retirement income. So, enter the Fixed Index Annuity with the lifetime income rider. You all know that the factors on the income riders for payout are much higher than the old “4% rule” that is being debunked. What about the people that just want to put their toes in the water and not lock up their money for a long period of time? They are sick of low interest cd’s.

Enter, the MYGA now paying 3.5% and more for a 5 year product. What to do about loss recovery? At the time of this writing the S&P 500 is down bout 10% from previous high. Most agree that if this stays, we are in a bear market. So, the consumer with $1million in equities could be down $100,000. Looking for a quick way to recover? Sure you are. The American public should consider buying another $100,000 of Life insurance. Now, don’t forget the fear of needing assistance as we get older. My mom’s monthly cost in an assisted living facility is $7200. So, get a Simplified Issue Single Premium Life policy with accelerated benefits for long term care type expenses.

So, being a Life Member of MDRT, I know that it is time to “close the deal.” The Ohlson Group wants and needs your business. Sure, we have products and so does everyone else. But, we have leads, client facing materials to get the conversation started, marketing pieces and more. So, stop the delay and visit (or re-visit if you went astray) and book a time with one of our marketing consultants to find out why agents from coast to coast refer to us as… a different experience.

Everyone is facing challenging times. But, along with adversities come great profits and success. It is times like this that bring out the true leaders and the true winners. Those that place their heads in the sand and hope things get better are going to miss the “Success train.”

Let’s face it, in the “safe money side” of the financial services business we all have the products… everyone has products and so many are good. But, the products aren’t worth a dime if we don’t know how to use them, position them and provide a solution that the prospect wants. You need to get into their inner hearts, minds and soul to find out where things hurt and get them to allow you to find the right financial medicine that will allow them to get a good nights sleep. Okay, just a minute more.

The market is volatile… housing prices are through the roof and we could see a bubble, inflation higher than in recent memory and people are fearful that their retirement income won’t last as long as they will. We can guarantee a lifetime income that won’t decrease regardless of gas prices, inflation, volatile market or anything else. So, you know this and what is my point? 

We have the newest training program to mentor and help you sell virtually. We have the sales presentations and training, to help you close the sales. We have the digital annuity lead program to place in you in front of qualified prospects, under favorable circumstances and on a regular basis. We will also build you a “state of the art” website, drip on your clients and prospects with quality content and give you membership in the “Safe Money Places Agent Network.”

So, if you want more than products, if you want to be part of something bigger than you, if you want the tutelage of seasoned professionals, book an appointment right now or call to line up a 15 minute conversation with one of our marketing consultants. Also, for our valued producing associates in the field, please feel free to look at this opportunity. Might just be what the doctor ordered. 

To say our economy is in a unique position would be an understatement. We have growth, recovering from the pandemic, but inflation is raging and the Federal Reserve is going to try to cool things down. Our country is staring at a huge amount of debt. It felt so good while the government spent, people had free money but now the bill is coming due. Like a credit card that you spent like crazy and now you are sick to your stomach when the bill comes due. So, what does this have to do with wealth transfer? I will be quick.

Your clients have some money earmarked to be passed down and not used as retirement income. Maybe they have gains and should consider paying taxes at a lower rate and placing the money in a single premium life plan.

They would leverage the cash, create a nice death benefit and be able to pass it on… free of federal income tax and free of capital gains tax. Plus, unable to do 2 of the 6 daily living requirements, you can use the money while living. And, about a 10 minute approval process. Can I upset you just a little more? During the quest for “Build Back Better,” there was movement to eliminate the “step up basis” and have the heirs pay taxes upon death and not liquidation. Reminds a lot of us “veteran financial pros” of the saying,  “Had to sell the farm to pay the taxes.”

Okay, want the real down and dirty and want an illustration and sales presentation? How about the fact finder and a client video? Come on, of course you do. Click for an appointment, or call us to have a one on one meeting with one of our marketing consultants. 

​Way back in December, 1993, Cornell University’s Science News calculated that over ten trillion dollars in wealth would change hands by the year 2040, with about 115 million bequests averaging more than $ 90,000 each! With the up-tick in our recent markets, who knows what those numbers really are today? This question gives you a tremendous opportunity to provide your clients with solid information regarding wealth transfer using a product they may never have considered before – Single Premium Life.

In your next conversation with your clients, you should explain that if they are considering wealth transfer, Single Premium Life could be one of the most efficient vehicles on the market today. Then, mention the article quoted above from Science News stressing that “things have certainly changed over the past 21 years and the numbers could be a lot higher over the next 25 years.” 

Next, you should explain that since most of these new inheritors/heirs are in the middle class, they are not usually candidates for sophisticated estate planning, they are not hiring money managers, and often – for these same “middle class heirs” – estate taxes will not be a factor, especially with the increase in the deduction.  Also mention that Single Premium Life products take advantage of current tax laws by allowing your clients who have a lump sum of money to increase the size of their estate, pass the proceeds to their heirs Federal Income Tax free, and bypass probate! 

Ideal candidates for Single Premium Life are usually between 65 and 80 and have money set aside for future generations.  They're somewhat conservative, and they love “guarantees” not “what-ifs.”  Since Single Premium Life is life insurance, many agents are afraid that their client has to be in excellent health and meet stiff underwriting requirements.  That is not the case: They just have to be in fairly good health and meet minimal underwriting requirements if we're using a simplified issued product. 
 
So, when you’re considering presenting a Single Premium Life plan to your clients, you’ve got to look for money that your client doesn't need. Finding that money is simple. Ask your prospect a few simple questions:

• “What do you want this money to do for you?” 
  
• “Are you going to pass it on to your children, grandchildren, church, or charity?”  
  
• “Are you living off the income?”
  

If your client answers “yes” to these questions, you have an excellent candidate for Single Premium Life.   

Furthermore, prospects who have CDs, passbook savings accounts, and/or fixed annuities are also usually good candidates. Look for money the client doesn't use for retirement income now because he or she has other sources of income, such as: CDs that roll over year-to-year or interest on the CDs or passbook savings account. Explain that these earnings are all taxable every year thereby reducing the amount of money they're going to leave to their heirs, their beneficiaries. 

Maybe your clients have deferred annuities. They're great, but if they have those earmarked for their kids, they're not the best way to go. Deferred annuities were originally designed to provide lifetime income for your client not their heirs. The problem is that the money left behind in an annuity can create an enormous tax time bomb for the heirs. Not only will they pay taxes in their income tax bracket – that is normally many times higher than your client’s – it’s going to push them into a new income tax bracket, possibly causing significant additional taxation problems. So, if your client doesn’t need the funds for their own income, Single Premium Life can eliminate those taxes, allowing a tax-deferred build-up and a tax-free income transfer at death.  

Single Premium Life was designed as a wealth transfer product and provides a lot of other benefits such as: accelerated death benefits for nursing home care, home health care, or the inability to do two activities of daily living. If available and approved in your state, Single Premium Life may also carry many types of accidental death riders. 
 
We can provide guaranteed benefits. For example, you can give your clients the safety that they want, tremendous liquidity, and great tax-efficient growth. The key to selling Single Premium Life is to identify those prospects who have money earmarked for future generations – children and grandchildren or nephews and nieces. How do you know? Easy: Ask the questions! If you need some help, use our great Safe Money Places™ fact finder to help you determine if your client is a candidate for Single Premium Life.  
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Like to know more?

Give us a call and let us help you help your clients with tax efficient wealth transfer.