Friday, July 25, 2014

The Cost of Waiting - Summer Sales Ideas for 2014

To read the complete blog article which provides details and sample illustrations supporting the content in the video above, go here

What follows is an abbreviated version of the blog content:

To be certain of having life insurance when you need it, you should acquire it before you need it.  So an important factor to consider involves the advantage of acquiring your policy now -- while your health may be the best it ever will be.  Of even greater importance, should something unexpectedly happen to you in the short term, your family will be protected.

Here is another reason for acquiring life insurance early:  Harvey Pierce, MD, is an internal medicine physician.  He is age 45 and has determined that the participating policy loan features of an Indexed Universal Life (IUL) policy can provide him with a superb retirement supplement.  The death benefit of the policy, while certainly valuable to him and his family, is not the primary reason for his interest.

His adviser is encouraging him to purchase the policy now.  Dr. Pierce asks, "I will commit to this, but does it really make much difference if I do it now or in a couple of years?"

This question can be easily answered using the Cost of Waiting module available on the Personal Insurance tab in the InsMark Illustration System.

We'll compare the following two alternatives:

  • $500,000 increasing death benefit IUL issued at age 45 (max-funded with 20 annual premiums of $23,717 -- just short of a MEC -- with policy loans starting at age 65)
  • $500,000 increasing death benefit IUL issued at age 47 (max-funded with 18 annual premiums of $25,384 -- just short of a MEC -- with policy loans starting at age 65)

To read the complete blog article which provides details and sample illustrations supporting the content in the video above, go here

About Steve Savant

Steve Savant

As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.

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