One of the most popular questions I get is “What is the best age for a client to purchase an IUL policy?” I always respond the same way, “It can be advantageous at any age, depending on the situation.” Let's go through the main scenarios where I see Indexed Universal Life insurance policies being used.
I don’t think there’s a workshop PowerPoint on the planet that directly results in sales of financial products. So far, I’ve never seen a financial presentation end with the presenter passing out applications for financial products and attendees getting out their checkbooks to buy. A solid workshop will result in the right fit prospects raising their hands to meet with you.
During the more than 20 years I’ve been in the financial services industry, I’ve been fortunate to meet hundreds upon hundreds of financial advisors and insurance agents across the country and in various stages in the business. From the eager newbies to the sage veterans, I’ve visited with them all and here are the seven reasons I’ve found that top producers have more success in the business.
In the past, financial advisors have relied on a well-balanced portfolio of stocks and bonds to manage a client’s risk versus return. While the concept is widely accepted, if you ask 50 different financial advisors what a well-balanced portfolio of stocks and bonds looks like, you'll likely get 50 different answers.
There are various products out there that provide your clients with retirement income, and many of the traditional options such as a 401(k), IRA or Roth account come to mind. What many of your clients may not realize is that a properly structured and funded Indexed Universal Life (IUL) policy can provide more benefits, more flexibility, and less risk than the traditional options.
Being rejected by a prospect does not have to be a total loss. There are many things to learn from a prospect who says "no" and a chance you could improve your financial services business.
As an independent advisor and a small business owner, you must leverage every minute you have and every dollar you spend to maximize your efficiency and profitability. One of the best ways to gain resources is to partner with a Insurance Marketing Organization (IMO) that has a skilled staff designed to support your business.
One of the most engaging topics that I cover in my Social Security education class is the impact of taxes. Most attendees at my workshops don't know that their Social Security benefits may be subject to tax. Of those few who do know, many are unsure as to how it is determined, and how much tax they are likely to pay.
The "Amazon Effect" is essentially the results of how a digital world has changed business models regarding consumer expectations, interaction, choices, and options. This phenomenon started back in 1994. Since that time, it has changed society as well as many business models in various industries and markets.
Even when your clients have significant retirement resources, it is important to create a comprehensive plan specifically for them. If you do not do your best to help each unique client, you risk your client's future as well as your own.