Thank you for attending DFS’s Free IUL/Annuity Leads Event. We hope that you found the workshop informative and worthwhile.
Our primary goals were:
- How to receive our FREE INDEXED LIFE & ANNUITY LEADS
- How to position yourself to sell more IUL than you could ever imagine
- The ULTIMATE annuity sales pitch and sales tool
- “Ticking Time Bomb” and working with high net worth clients
- The strategy for answering and overcoming any objection when selling IUL
- How to present annuity in a way that makes prospects WANT to own it
- A complimentary Software/Calculator that will help you close more IUL prospects
- Marketing/Prospecting programs to attract more annuity opportunities
- Award winning agent platform – SuperAgentTools.com
- If you attend, you will receive a FREE FINANCIAL PLANNING WEBSITE
There were many topics covered during the workshop and the presenters did an outstanding job of sharing their expertise with you.
You were a great group and your enthusiasm and positive spirit helped make our time together both productive and fun.
Thank you for your comments and suggestions on the evaluations and I assure you that each will be given consideration so that future workshops will be even more of a success.
If we can be of help in any way, or if you have questions, please feel free to contact DFS Marketing at 855-740-3140.
Again, thank you for being part of our Free IUL/Annuity Leads Event and I wish you the best.
Increase the death proceeds to your beneficiaries while spreading the tax impact on your qualified or tax-deferred holdings. Enjoy the security of access to funds in the event of a chronic illness. Earn index-linked returns while protecting your values from declining markets.
Sooner or later, your financial life may reach a challenging dilemma: to position your assets for a smooth transition to your beneficiaries, or to maintain access in case of certain health conditions during your lifetime.
WealthPay Life not only helps with either scenario, but provides the opportunity for a larger gift passed on to your beneficiaries.
Life insurance serves to protect your family from financial hardship in the event of your untimely death. More than simply death protection, WealthPay Life provides protection on a variety of levels.
- You protect your family with a death benefit greater than your premium payment.
- You may have access to the death benefit amount if the insured is diagnosed with a terminal or chronic illness.
- You may achieve policy-value growth through index credits linked to the growth of a market index –with downside protection when the index values fall.
WealthPay Life, from EquiTrust Life Insurance Company, offers a combination of two products to create what may be an ideal solution to your current circumstances. It combines an index-linked whole-life insurance policy and an annuity (a “single premium immediate annuity,” or SPIA). Upon purchase of both policies (for applicant ages 60 to 80), your lump-sum premium is directed to the SPIA, which immediately begins directing periodic payments to the life policy. From there, we do the rest – and you enjoy peace of mind.
Why periodic payments to the life policy instead of a single-premium payment?
This strategy is designed for individuals with either qualified retirement assets or non-qualified, low-tax-basis annuities – the proceeds from which they likely won’t need for living expenses during their lifetime; and for people seeking a simple, tax-efficient means to pass a larger death benefit from these assets to their heirs. If this describes your circumstance, and you were to liquidate your assets for purposes of purchasing a single premium life product, the liquidation would likely result in substantial taxation. Or, if the taxed proceeds are used to purchase an investment that can be passed on to the heirs upon your death, the proceeds may be taxed again, by inheritance taxes.
When you purchase a SPIA, you incur the taxation when the income is “paid out” – in this case, to the life policy in the form of premium payments. So, you can spread out the taxation over several years. And the policy’s death benefit may go to your heirs income-tax free!
What are the time-period choices for spreading payments from the SPIA to the life policy?
WealthPay Life allows premium payments from the SPIA to the life policy to be spread over 3, 5 or 10 years. The life policy is paid-up after all scheduled premiums are paid. A longer payment schedule allows you to spread your tax liability most effectively, but with a tradeoff of a reduced death benefit. Your age and underwriting classification will determine the payment-period options available to you. Regardless of the payment schedule you choose, you have the knowledge that if you were to die during the payment period and before the policy is paid up, your beneficiaries will receive the full death benefit and any remaining SPIA payments.
Your circumstances will determine if spreading out premium payments is more beneficial than a single premium option. While your agent can assist you in this evaluation, you should also seek assistance from your tax or legal advisor before purchasing WealthPay Life.
How does it work?
Consider this hypothetical example. Sharon, age 60 and retired, wishes to leave her son, Scott, a portion of her estate upon death. She previously named Scott as beneficiary to her 401(k) plan, valued at $100,000. Sharon does not need these funds for purposes of daily living, and would like both to increase the value of the gift to Scott and spread the income-tax liability he will likely incur upon receipt of the proceeds.
Sharon opts to transfer her 401(k) funds to a WealthPay Life policy and elects the 10-year payment option. This allows Sharon to reduce the immediate tax impact of moving the 401(k) funds by spreading the tax liability over the 10-year premium-payment period.
Upon her death, the WealthPay Life policy will provide a guaranteed death benefit of $191,236 to Scott. Because life insurance death benefits pass generally income-tax free to beneficiaries, Scott’s benefit will not be diminished by income tax.
Compare the benefit to Scott between leaving the
$100,000 value in the 401(k), and transferring it to a WealthPay Life policy.
What if you encounter an illness?
Your life policy gives you access to a portion of the Death Benefit if you (the “insured”) are diagnosed with a chronic or terminal illness. This benefit is called the “Accelerated Death Benefit,” because death benefits are “accelerated” to help meet health-related expenses during your lifetime. During the payment period, the Accelerated Benefits are limited to a percentage of the death benefit, subject to the payment period selected and the type of illness incurred. After completion of the payment period up to 100% of the death benefit may be accelerated. Accelerated Benefits may be received federal income-tax free.
What if you need access to your money?
Only money not needed to meet current and foreseeable living expenses should be placed in WealthPay Life. However, if you need cash, you may take either a loan on your policy, or a withdrawal that may be penalty-free in certain instances. Some WealthPay Life policies will be classified as a Modified Endowment Contract (MEC). Only policies with a 10-year premium-payment schedule will not be classified as a MEC. Generally, any amount received under a life insurance policy on an insured that is determined to be terminally ill or chronically ill is considered to be an amount paid by reason of death. A Terminal Illness benefit will generally be received income-tax free, and a Chronic Illness benefit may be taxable. You should contact a qualified tax advisor regarding taxability of Accelerated Death Benefits.
Can your policy value and death beneﬁt grow?
Depending on the index credits earned in your policy’s accounts, your cash value and death benefits may increase to levels higher than the guaranteed amounts. You may allocate to a fixed interest-rate account as well as several accounts offering index-linked returns based on the performance of either the Standard & Poor’s 500 Index® or the Goldman Sachs Dynamo Strategy Index.® When the index goes up, you earn “index credits”… and when it goes down, your account value is not impacted. In other words, you benefit from the “ups” and are protected from the “downs.”
Each policy anniversary, “index credits” are determined on the index accounts and applied to your policy’s current accumulation value. You may also transfer account values among accounts on policy anniversaries. At the end of 10 years, surrender charges no longer apply, yet you continue to earn interest and index credits on an income-tax-deferred basis.
EquiTrust Life Insurance Company
Note: This information is not intended to be a detailed description of the effect of taxes on Social Security benefits. Deferred annuities contain certain restrictions and/or IRS penalties related to premature distributions. Please consult with your tax advisor to determine the actual impact on your specific situation.
All written content is for information purposes only. Opinions expressed herein are solely those of MyRetirmentSaving.com / DFS Marketing, Inc. and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual financial professional prior to implementation. Insurance products and services are offered through MyRetirementSaving.com / DFS Marketing, Inc. and Julian Dougharty (TX License #1703718) and are not affiliated with or endorsed by the Social Security Administration or any other government agency. This content is for informational purposes only and should not be used to make any financial decisions. Exclusive rights to this material belongs to MyRetirementSaving.com / DFS Marketing, Inc. Unauthorized use of the material is prohibited.
GUARANTEED DEATH BENEFIT
Signature Guaranteed UL – SI (Simplified Issue) is an individual universal life insurance policy that will provide a guaranteed death benefit to age 100, assuming that all premiums have been paid as scheduled. The policy can still lapse due to loans and withdrawals but you can make additional premium payments to keep the policy in force.
Signature Guaranteed UL – SI will pay a tax-free death benefit directly to your named beneficiary to help replace your income, take care of final expenses, and meet your financial promises.
WHAT DOES SIMPLIFIED ISSUE (SI) MEAN FOR ME?
When applying for life insurance, underwriting refers to the extensive
review process that may include medical exams, blood tests, physician
reviews and more. Simplified Issue underwriting requires a few simple
health questions and NO medical exams or blood tests. Only standard
rates are available.
AM I ELIGIBLE?:
To be considered for the Simplified Issue Program your employer must be
approved to participate by American National and you must fulfill the
- Be an active Full Time employee
- Be between ages of 18 and 65
- Be able to answer a few simple medical questions.
Even though you must be an employee to apply for Simplified Issue Life
Insurance, if you choose to leave your employment, you may keep your life
insurance by continuing to pay premiums on your own.
SPECIAL FEATURE: LATE PAYMENT FORGIVENESS
Your Signature Guaranteed UL-SI policy has late payment forgiveness
which allows premiums to be paid up to one full month beyond the monthly
deduction billing date without negatively affecting the lapse date. This
feature prevents the projected lapse date from decreasing due to late
payments here and there.
ADDITIONAL BENEFITS AVAILABLE WITH SIGNATURE GUARANTEED UL – SI:
ACCELERATED BENEFIT RIDERS
Should you become terminally, chronically, or critically ill, a full or partial accelerated death benefit may be available to you before you die, providing an unrestricted cash benefit for you to use for any expense, including medical.
- ACCELERATED BENEFIT RIDER FOR TERMINAL ILLNESS:
For use if an eligible insured has an illness or chronic condition that is expected to result in death within 12 to 24 months, depending on state definitions.
- ACCELERATED BENEFIT RIDER FOR CHRONIC ILLNESS:
For use if an eligible insured is unable to perform two out of six activities of daily living (bathing, continence, dressing, eating, toileting, or transferring) or is cognitively impaired. The benefit is an unrestricted cash payment.
- ACCELERATED BENEFIT RIDER FOR CRITICAL ILLNESS:
For use if an eligible insured experiences a critical illness described in the rider after the issue date. The 16 covered critical illnesses (13 in California) may be found in the ABR Overview, Form 10743.
MINIMUM DEATH BENEFIT REQUIRED FOR ABRs:
- Terminal Illness: $25,000
- Chronic & Critical Illness: $50,000
MAXIMUM DEATH BENEFIT AVAILABLE FOR ACCELERATION ON SI POLICIES PER INSURED:
- Up to $250,000
There is no additional premium for this benefit. However, the death benefit accelerated will be less than requested as it is discounted by an amount calculated based on American National’s evaluation of the insured’s health at the time the benefit is exercised as well as an administrative fee of up to $500 assessed when the benefits are elected. See the Accelerated Benefits Rider Brochure 10473 for more information on these riders.
DISABILITY WAIVER OF STIPULATED PREMIUM
For an additional premium, we will waive the stipulated planned policy premium in the event of disability. Any waived premiums are considered to be paid premiums and are credited to the insurance policy. This amount may not keep the policy active to the policy maturity date.
The insured must provide proof of total disability, which must last for at least six consecutive months.
This rider expires after the policy anniversary following attained age 60.
Form Series PWSTP (Forms May Vary by State)
CHILDREN’S TERM RIDER
For an additional cost, separate level term life insurance may be provided for each child age 15 days old through 18 years if the base policy insured is between 18-55. Each insured child can be covered up to the earlier of either:
- The child’s attained age of 25, or
- The policy anniversary following the insured’s attained age of 65.
The insured can apply for additional coverage on a child at issue or following the birth of the child.
Form Series ULCTR14 (Forms May Vary by State)
Source: American National
If you’re like many people, you have imagined what your ideal retirement would look like. Maybe it involves travel to new and exciting destinations. Perhaps you want to fill your time with children, grandchildren and even great-grandchildren!
You deserve to live your dream retirement, but are you prepared? Many consumers are not adequately prepared financially for some of the key retirement risks we face.
Fixed annuity basics
Building a foundation
Fixed annuities may be a solution to help address your retirement concerns but more importantly reach your retirement goals. Fixed annuities have the following benefits:
Tax-deferred growth allows your money to grow faster because you earn interest on dollars that would otherwise be paid in taxes. Your premium earns interest, the interest compounds within the contract and the money you would have paid in taxes earns interest.
Under current law, annuities grow tax-deferred. An annuity is not required for tax-deferral in qualified plans. Annuities may be subject to taxation during the income or withdrawal phase.
May Avoid Probate
By naming a beneficiary, you may minimize the delays, expense and publicity often associated with probate. Your designated beneficiary receives death proceeds in either a lump sum or a series of payments.
Please consult with and rely on your own legal or tax advisor.
A good Insurance Carrier will pay out a death benefit which equals the Accumulation Value upon the death of the annuitant or an owner. The death benefit is payable upon the death of the first owner, unless the sole beneficiary is the owner’s spouse and he or she elects to continue this contract under spousal continuance. If there are joint annuitants and an annuitant who is not also the contract owner dies, the
death benefit will be paid on the death of the second annuitant. A death benefit is not available if an annuity payout option has been elected.
Through your election of an annuity payout option, A good Insurance Carrier can provide you with a guaranteed income stream with the purchase of your tax-deferred annuity. You have the ability to choose from several different annuity payout options, including life or a specified period. Once a payout option is elected it cannot be changed and all other rights and benefits under the annuity end.
See product details sheet for more information regarding annuity payout options.
Click Here to see the brochure
Source: North American Company