October 2014
CLIFF'S NOTES
Well, another year has come and gone and I hope you have had a great one, both
personally and in your business. Personally, I always see room for improvement
in both of these areas in my own life. With that being said, my focus for 2015,
will be the same as it was in 2014 ­ GROWTH! In my business life, I obviously depend on you to
work with me to reach that goal. In doing so, you
grow your own business. Win ­ Win situation,
right? I will be sending out a brief survey to some of you within the next few days, to better dial in
how ISG can help you grow your business. Again, it will be very brief, so I'd really appreciate it if you would take just a
couple of minutes to respond. And as always, I welcome your phone call or email
to discuss a more inline approach of working together one on one. Effective Monday, December 8th if you visit www.isgi.biz, you will see a brand
new website! We have cleaned up the look, hopefully making it easier for you to
navigate, with a lot of cool new features. Your same user name and password will
get you into the site, but if you have problems, please give us a call. I will be putting a large amount of focus in 2015 on Life Insurance for the Small
Business Owner. We have always had great success in working in this market and
with some new ideas I have been utilizing, this market is really going to explode
in 2015. I will be reaching out to most of you that work in this market to schedule
a time to come and visit with you. If you want to beat me to the punch, please
give me a call and let's get a time on the calendar soon. Another focus will be to better educate our brokers on the new permanent
insurance products on the market that are absolutely game changers. I can assure
you, if you will simply explain how permanent insurance works to your clients,
you'll notice a huge uptick in your permanent insurance sales, therefore, your
commissions also. Your customers only buy what they know you sell. So, tell
them about permanent insurance and the new features they now come with, such
as Return of Premium, Long Term Care riders, Chronic Illness Riders, etc. I think
you'll be amazed at how open they are to hearing what you have to say. There is
so much out there now, other than Super High Priced Whole Life that they have
known in the past.
Quick recent success story, called "REBA, the Golden Handcuff Girl".
My broker approached me with a very successful small business owner who
had numerous concerns about his one KEY EMPLOYEE. This lady has been
with him for a number of years, and generated over 95% of this total business
revenues in sales.
His first fear, was that if she died prematurely, there would obviously be a
BIG hit to his overall revenue until he could find a replacement for her, IF
that was even possible. Easy sell here ­ Key Employee Life insurance on her,
with the company as the owner and beneficiary. We chose 20 year term, as
she is 48 years old. Commissions ­ $1,000.
Next, she is a single Mom with 2 young children
and no life insurance. Easy, personal life
insurance to protect her young children. Commissions ­ $3,500.
Lastly, he wants to make SURE that she does not
leave employment with his company, especially
to go work for a competitor. Solution, Restrictive Executive Bonus
Arrangement (REBA). He gave me a budget of $1,000 / month to create a
plan that would be very appealing to this key employee and make her want to
stay with his company for another 15 years at least. Solution­Permanent Life
Insurance on this key employee paid for by the employer via a bonus. She
gets to own the policy and name her own beneficiary. Pretty nice so far,
huh? With the type plan we designed, it also has a built in Long Term Care
rider. (remember, she's a single Mom, so this is very important to her) It also
has significant cash value accumulation. So if she owns the policy and he's just paying for it, what are the "Golden
Handcuffs" that tie her to employment. A restrictive endorsement gets drawn
up by his attorney, that both he and the employee sign, that states that she
may not have access to any of the cash values within the contract, nor does he
have to pay the premiums if she leaves employment for a period of 15 years
of service. Boom ­ If she stays working for him for 15 years and the
Restrictive Endorsement gets released, here is her reward:
PAID UP Whole Life policy with a death benefit of over $1,000,000 at her
life expectancy age.
$1,000,000 available via the Long Term Care rider, should she get sick and
need care
Cash Value of almost $500,000 at her age 75
Great for the Employer. Great for the Employee.
Good for the agent ­ $16,500 total commissions! Let me know if you'd like to know more about this concept, or have a particular
client in mind, that may be interested in talking about it.
Go out and make it a great day!
Cliff
WE HELP YOU SELL MORE LIFE INSURANCE, FASTER AND EASIER!
Insurance Solutions Group 405 Legacy Park Ridgeland, MS 39157
phone 601.362.9546 fax 601.362.8587
toll free 800.873.5754
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Insurance Solutions Group, Inc. | 405 Legacy Park | Ridgeland | MS | 39157