1 / 26

Estate Maximizer: Single Payment Whole Life Insurance

Maximize your estate, minimize the wait, and eliminate the hassle with the Estate Maximizer Single Payment Whole Life Insurance. Leave a lasting legacy and provide for your loved ones.

trandall
Download Presentation

Estate Maximizer: Single Payment Whole Life Insurance

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Maximizean estate.Minimizethe wait.Eliminatethe hassle. The Estate Maximizer Single Payment Whole Life Insurance

  2. Estate Maximizer A Single Payment Whole Life Insurance Contract1 Issued by: Liberty Life Assurance Company of Boston, Member Liberty Mutual Group Home office Boston, MA • In NY, form PI-PSP-9411-NY. Not available in KY and NJ.

  3. Target Markets • Conservative investors age 60-85, planning to leave money to heirs. • People with large amounts of cash in (CD’s, Money Markets, Savings, etc.) • Annuity contract holders • Pre-1988 SPWL policyholders • Non-performing UL policyholders • Minimum distributions from qualified plans

  4. Desires of Seniors • Leave a living memory (know that they are not forgotten) • Leave the next generation better off than they were • See that their grandchildren have excellent opportunities • See that their favorite charities continue to grow

  5. But…They Still Have Needs • Not to burden their children • To be cared for properly • To access funds in case of an emergency • To feel like they can still look after themselves

  6. They Tend to… • Be conservative in nature • Dislike lengthy processes • Dislike excessive fees or charges

  7. They Want… • Honesty • Integrity • To know that their best interest are being considered • Flexibility

  8. So let’s look at some real life cases • The following are a few actual Estate Maximizer cases which have been placed in the last couple of months. • They represent real scenarios of today’s senior investor.

  9. Male Age 70$50,000 in VAWorth $35,000 Presently

  10. $50,000 into EMax Hold out $8,400 to cover taxes $41,600 net into EMax Buys $80,317 of DB Gets $72,285 of ADB In 5 years, CV of EMax worth $45,930 Still have $80,317 of Tax Free DB $50,000 into 5 year fixed annuity In 5 years, FA worth $62,308 Only $12,308 will be gain versus $30,000 before split Total DB is $142,625, equal to an 8.5% ROI Female Age 65$100,000 in Fixed Annuity$70,000 Cost Basis28% Tax Bracket

  11. She wanted to leave as much money as possible to her loved ones Wanted to retain control for access purposes Full $179,000 in EMax Bought $234,436 in DB Gave her $210,992 in ADB access 3 Stand Outs At 83, Advisor was able to get life coverage Since client had complete physical in previous 6 months, no para medical was needed, only APS Wasn’t underwritten in 10 minutes, but the process was simple for the results gained! Female Age 83$179,000 in CD’s

  12. Product Benefits For your clients: • Safety – 100% Principal Guarantee • Access to cash • Life Insurance death benefit – more to heirs For you the Advisor: • 10 minute jet underwriting1 • Control of underwriting is in your hands, not the company’s • Knowledgeable back office support • Weekly commission payments • Some restrictions apply

  13. Safety • Backed by the full strength of Liberty Mutual • Guaranteed return of principal1 • Guaranteed account values • Guaranteed initial death benefit • Guaranteed to endow at age 100 • 30 day free look • Barring loans or withdrawals. Not available in NY. • Gross 5% in non-NY states and 4% in NY. • 10 Day free look in NY.

  14. Attractive Returns • Premium earns interest immediately • Renewal rate declared on each anniversary and locked for the next contract year • Accumulations grow tax deferred.

  15. Access to Cash • Partial withdrawals up to the greater of contract earnings or 10% of accumulation value • Low cost loans • Interest 4% charged; 4% credited • Principal 6% charged; 4% credited • Extended Care Benefit1 • Qualified medical stays - 45 out of any continuous 60 day period • Insured or insured’s spouse • Withdrawal charges waived • Not available in SC or NY

  16. Accelerated Death Benefit1 • Up to 90% of death benefit (max $250,000) • Payable while alive if terminally ill or chronically ill • Chronically ill defined as unable to complete 2 of 6 ADL’s • Terminally ill, less than 24 months to live – insured only • Accelerated benefits not taxable under current law • Free Riders. • May be different by state.

  17. Life Insurance Death Benefit • Immediate increase in estate value – more to heirs • Passes income tax-free under current tax law • Estate tax-free if set up correctly – please consult with a tax advisor.

  18. 10 Minute Jet Underwriting Eligibility • Stay within min and max premium guidelines • “NO” answers to all parts of question 9 • MIB inquiry does not prompt further investigation

  19. 10 Minute Jet Underwriting Normal underwriting applies if: • Premium exceeds jet issue limits • Any “YES” to question 9 or if MIB prompts further investigation. • Normal underwriting in most cases does include blood and urine etc. It requires medical records review.

  20. 10 Minute Jet Underwriting Minimum Premium = $10,000 Maximum Premium = • Larger amounts available with normal underwriting.

  21. 10 Minute Jet Underwriting “NO” answers to question 9.

  22. It’s as Easy as 1-2-3 1) Complete the Application for Life Insurance and the Signature Page. Be sure to write in your Agency name, telephone number and fax number 2) Fax the white copies in the following order to 1-800-505-2115 (It is not necessary to attach a cover sheet or call ahead) • A) Application for Life Insurance • B) Signature Page 3) A Liberty representative will call you within 10 minutes to let you know if the policy can be “Instant Approved.” However, if you do not hear from us after 15 minutes, please call our Service Team at 1-800-897-9883

  23. Things to Know • Issue ages 0-85 (age last birthday) • Issue Classes: Standard and Class A • 2nd to Die Option available • Modified Endowments (MEC) – taxes and penalties may apply for loans or withdrawals before 59½. • 7 year surrender period

  24. The Choice is Yours(Illustrative Results After One Year)Assumes $30,000 principal, 2.0% net interest, 33% tax bracket • Account value grows tax-deferred. Death benefit passes income tax-free • Initial death benefit for a female age 65

  25. About Liberty Liberty Mutual Group1 • $56 billion in consolidated assets • Nation’s largest writer of workers compensation • 6th largest property & casualty insurer • A (Excellent) AM Best • A (Strong) Standard & Poors Liberty Life1 • A wholly owned subsidiary of Liberty Mutual Group • Leading writer of Life Insurance through banks • Top ten writer of Structured Settlement Annuities • A- (Excellent) AM Best • A (Strong) Standard & Poors • As of 12/31/2002

  26. Contact Information CPS Ron Viola Insurance PO Box 6250 Los Osos, CA 93412-6250 Tel 800-640-7770 Paul Irving – ext. 19 E-mail paul@ronviola.com Internet www.ronviola.com

More Related