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Understanding the Sales Process

Understanding the Sales Process. How having a plan can help protect those you love. What is the Plan?. The Plan has 2 objectives: The first is to allow you to remain in the community without risking the emotional and physical well-being of those who will provide your care

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Understanding the Sales Process

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  1. Understanding the Sales Process How having a plan can help protect those you love

  2. What is the Plan? The Plan has 2 objectives: The first is to allow you to remain in the community without risking the emotional and physical well-being of those who will provide your care The second is to preserve your retirement plan so it can execute for the purposes you intended which generally include; supporting your financial obligations, minimizing taxes and insuring the financial viability of your surviving spouse

  3. Reasonable people… Understand that they could live a long life Understand that it’s possible they could become frail and need care as they age Are willing to consider taking action if they understand that needing care could have serious consequences to their family and retirement portfolio.

  4. Establishing the reasons to plan • It must be established that the client believes he / she may live a long life and when he/she does he/she will likely need care • It must be established that the client understand the impact providing care can have on their family and best thought-out retirement plans • It must be established that almost nothing can pay for care except assets and income otherwise allocated for retirement

  5. Your Ability to Keep your Financial Commitments • Paying for care requires a reallocation of income. This has an immediate impact on your ability to keep financial promises. • If the illness lasts long enough it invariably leads to an invasion of the investment portfolio • This could have a direct impact on your ability to secure the financial viability of a surviving spouse and children who may depend on an inheritance.

  6. Transferring All or Some of the Risk Car ----- ----» Auto Insurance Home ---------» Homeowners Ins Family & Kids --------» Life & Health Ins Wealth ----------» More Life Insurance Salary ----------» Disability Income Ins Retirement -----------» ?????

  7. The Consultative Approach The Consultative Approach is based on educating a client about how severe the consequences to those the client loves would be if an unexpected event happened in his or her life. The principle is based on the premise that those who love someone other than themselves will take steps to protect them, when given compelling reasons to do so.

  8. Questions to Ask • What’s important to you? • What responsibilities do you have now that you didn’t think you would have 10-15 years ago? • Going forward, what expenses do you see continuing? • Do you have a plan if you live a long life and should need care? • Do you have prior experience with a long-term care event?

  9. How a plan can protect those you love • By providing a stream of income to pay for care • Your primary source of income generated by social security, pension, and retirement portfolio does not have to be reallocated which means… • Your ability to support your lifestyle which includes commitments to your family and community is assured which means… You never have to go into your portfolio!

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