Let’s think about a Male 60 that you may know, who needs $500,000 of Life Insurance. Most consumers come at us insurance advisors asking for term quotes, right? That’s all well and fine, but it’s our responsibility to advise them that, Hey, there’s something out there with a lot more longevity and certainty if you’re interested!
A 60 year old, healthy male, can get a 25 year level term product that will carry him out to his age 85. Is that his life expectancy? Maybe…..maybe not. The annual premium for that product is $4,950. So over 25 years, he’s paid in a total of $123,750.
· If he lives beyond age 85, his beneficiaries get nothing.
· If he lives beyond age 70, he’s too old to convert it to permanent insurance.
· If he gets sick between now and age 85 and needs care, I sure hope he has a Long Term Care plan!
The certainty is an extremely competitive GUARANTEED Universal Life Plan, that is packed full of guarantees and options! And, the sales team here at ISG is ready, willing and able to quote if for you on your next prospect. The client already told you he wants and needs life insurance, and he asked for term. So, you know he’s willing to pay you $4,950 for what he asked for. For an additional $2,000 per year, you have some major extras for him!
· His death benefit is GUARANTEED to last him to his age 95, rather than age 85, as it was with the term plan.
· No need to convert, this is already a Guaranteed UL. If he wants to continue coverage beyond age 95, done!
· If at his age 75, he no longer wants or needs the policy, he can cancel it and get 65% of all premiums paid, refunded to him.
· If at either age 80 or age 85, he cancels his policy, he gets 100% of all premiums paid refunded to him.
· Oh, and by the way, this policy is paid up in full at his age 85, GUARANTEED, no further premiums due!
· On to this getting sick and needing care thing, which at his age, there is a 65% chance that this could happen to him!
· This product has BUILT IN….Critical, Chronic AND Terminal Illness Riders, which allows him to accelerate part or all of his death benefit early to pay for care!
Your clients don’t know that products like this even exist, unless you tell them.
Go out and make it a great day!