Retirement Income planning is like a puzzle. We usually start with the outside pieces, and move inward. We start with essential income needs, and then the discretionary needs like vacations, gifts etc. We then take a look at available assets. If the person is a "pre-retiree" we look at the assets and estimate growth. We factor in Social Security and come up with the income that will be available. Many times, it stops right there. The client purchases a financial instrument and then we close the book. Everyone feels pretty good and things aren't that stressful.
One thing that reduces the stress is that the client underestimates how much money he/she will need in retirement. They also don't worry about the "lost social security check" (remember that if the client is married, the smaller check goes away when one spouse dies).
Most will agree that they will need more money to continue in the life they have become accustomed to. You can only work with what is available. However, many have the "secret stash" that they keep around for emergencies. And, if it isn't needed, they will pass it to the kids or grandkids. But, there may be a better place for that money and it might just "complete the puzzle". Let's look...
I am speaking about many of the hybrid life and annuity products on the market today. Some are so simple and they are "custom made" for the annuity professional to present. In short, these products have an accelerated death benefit. The death benefit can be used For "LTC Type" expenses. In most cases, the client does not have to be confined in a nursing home. They qualify if they cannot perform 2 of the activities of daily living.
The money comes to them tax free - they never have to go back to the doctor to be "re-certified" and they can use as needed for their expenses. And, (this might be just as important), this benefit may keep them independent and not dependent upon their children. Plus, with many... no exam, fluid draws... just a phone interview. Oh, in case I forget, cash value growth linked to an index. Let's keep looking.
One thing that reduces the stress is that the client underestimates how much money he/she will need in retirement. They also don't worry about the "lost social security check" (remember that if the client is married, the smaller check goes away when one spouse dies).
Most will agree that they will need more money to continue in the life they have become accustomed to. You can only work with what is available. However, many have the "secret stash" that they keep around for emergencies. And, if it isn't needed, they will pass it to the kids or grandkids. But, there may be a better place for that money and it might just "complete the puzzle". Let's look...
I am speaking about many of the hybrid life and annuity products on the market today. Some are so simple and they are "custom made" for the annuity professional to present. In short, these products have an accelerated death benefit. The death benefit can be used For "LTC Type" expenses. In most cases, the client does not have to be confined in a nursing home. They qualify if they cannot perform 2 of the activities of daily living.
The money comes to them tax free - they never have to go back to the doctor to be "re-certified" and they can use as needed for their expenses. And, (this might be just as important), this benefit may keep them independent and not dependent upon their children. Plus, with many... no exam, fluid draws... just a phone interview. Oh, in case I forget, cash value growth linked to an index. Let's keep looking.
If they don't need it for care, the death benefit goes tax free to the beneficiary. A lot more than would have been available if the "stash" was in the bank. And, what happens in the event of a big emergency and they need the cash? No sweat, many have a return of premium at any time.
The bottom line: this could be the final piece to the puzzle. We have the tools, the videos, the point of sale pieces and the white papers. So, take a close look at this and give us a call at 1-877-844-0900 if you would like some guidance.
One more thing, commissions are higher than annuities, first year bonus and cps that blow away annuities. Everyone wins on this one. This is a great product for client reviews. Until next time ... good selling.
The bottom line: this could be the final piece to the puzzle. We have the tools, the videos, the point of sale pieces and the white papers. So, take a close look at this and give us a call at 1-877-844-0900 if you would like some guidance.
One more thing, commissions are higher than annuities, first year bonus and cps that blow away annuities. Everyone wins on this one. This is a great product for client reviews. Until next time ... good selling.
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