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Life insurance as an asset class
Are your clients asking these tough questions?
Interesting book! - 5 Second Rule
Memorial Day; From a Somber Occasion to Summer
Interesting Article (Patrick Swayne):Life Insurance as an Asset
Class. The one question
many of our clients ask is whether or not they need life
Insurance. That is certainly an important question to ask, especially
for young families where the loss of a breadwinner could be
catastrophic. However, what about our clients who are getting ready to
reach retirement and have ac cumulated adequate assets to take care of
their family and even final expenses. Well, they may not need
life insurance. And sometimes the conservation ends there. That is
truly unfortunate because there is a huge opportunity being missed for
these clients. Why did that same client buy a mutual fund? Why did that
same client invest in real estate? It wasn’t for any need that had to
be fulfilled, but rather for the opportunity that these ventures
presented. Well, the death benefit of a life insurance policy can
present that same kind of opportunity. When that client passes away,
that death benefit just represents another asset to be left to his/her
loved ones. However, there are some attributes that insurance provides
that those other assets do not. What about a guaranteed value! A
guaranteed rate of return! And all this while receiving preferential
tax treatment. What if you asked that same client who said he doesn’t
need life insurance, that you could guarantee h im a 6% internal rate
of return at life expectancy on his investment dollars? And all of this
with no risk. Would that same client now be interested? We have to
start challenging the thought that life insurance has to be sold on a
need basis. If the goal is wealth transfer planning, there are a number
of ways to get the client to their goal. But the question is whether
life insurance would be a strong strategic tool in helping the client
get there. Due to those attributes previously mentioned, it would be
hard to argue otherwise.
Free E-Book (TA):
Are your clients asking
these tough questions?
- What is my death benefit need?
- What are my options in a low interest rate environment?
- What if extended nursing care is in my future?
- How can I prepare and protect myself?
These are all potential risks to your client's financial strategy.
Explore this eBook to learn how you can help mitigate risk in your
client's financial strategy.
Highlight (Brian Thompson): 5
Second rule by Mel Robbins on Audible (Brian:
Read by the author which was refreshing and relatable in many ways,
including mistakes made while recording. I definitely recommend this
book. “It’s not as simple as, “Just do it.” If it were that simple, we
would all have everything we want. There’s something really
foundational that has to happen before we can take action, and that is
that we must learn to conquer our own feelings.” Mel Robbins) Here is
the TedTalk that Put Mel on the map: https://youtu.be/Lp7E973zozc
"If you don't have humor, then you may as well nail the coffin lid
down now." Roger Moore
"Let us, then, at the time appointed, gather around
their sacred remains and garland the passionless mounds above them with
choicest flowers of springtime; let us raise above them the dear old
flag they saved from dishonor; let us in this solemn presence renew our
pledges to aid and assist those whom they have left among us as sacred
charges upon the Nation’s gratitude, the soldier’s and sailor’s widow
and orphan," General John A. Logan, the commander of the Grand
Army of the Republic