Tuesday, January 27, 2015

Advanced Concepts to Address Clients' Retirement Income and Tax Challenges


Partners Advantage Features Advanced Training and "I-DIAs" from Curtis Cloke

Riverside, CA (January 26, 2015) - Advanced concepts to help address clients' retirement income
needs and tax challenges are a hallmark of the training and techniques utilized by financial services professional Curtis Cloke. Now he is bringing his special approach to product positioning and retirement strategies through a strategic alliance with Partners Advantage.

Cloke's "I-DIAs" help financial professionals understand the special roles that Deferred Income Annuities, Single Premium Immediate Annuities and Fixed Indexed Annuities can play in helping clients develop more strategies to close their retirement income gap. Financial professionals are continuing to enter the program which provides advanced training to a select group throughout the country. Last year's class of approximately 50 financial professionals learned techniques through ongoing training sessions with Tom Hegna and Anthony Morris.

This program is part of the Partners Advantage Academy which offers a variety of training and sales concepts to help financial professionals grow their practice. Cloke's sessions will highlight the Advanced Coaching and Business Building program, which is complemented by additional sales training tracks including a weekly, live online training program at These programs which support the company's "training and education first" philosophy are enhanced by its in-house specialty services - an underwriting team, compliance and suitability team and advanced markets consultants.

Curtis V. Cloke, CLTC, LUTCF, RICP®, is an international speaker author and trail-blazer on deferred income annuities (DIAs). He is the founder and developer of Thrive Income Distribution System, launched in 2009, which helps financial professionals and clients focus on strategies to create more retirement income. Cloke is also a key contributor to the curriculum of the Retirement Income Certified Professional (RICP®) program developed by The American College of Financial Planning were he serves as an adjunct instructor.

"Our program was developed in response to an important need that financial professionals have, which is to receive ongoing, professional coaching to continually build their business to new levels," stated Partners Advantage President James Wong. "This is a key component in fulfilling our commitment to provide financial professionals with top shelf training, technology and service."

For more information, contact Partners Advantage at 888-251-5525, Ext. 709.

About Partners Advantage Insurance Services
Partners Advantage Insurance Services, LLC, is a national insurance marketing organization with 70 associates located in offices across the country. The company's Advantage Division is a one-stop brokerage for licensed agents and agencies throughout the United States who sell annuities and life insurance. The company's Platinum and Premier Divisions work to enhance insurance marketing organizations and agencies throughout the country. For more information about Partners Advantage, visit

This Advanced Coaching Program is designed to provide general information about the subject matters covered. It should be used with the understanding Partners Advantage is not rendering legal, accounting, or tax advice. Such services should be provided by the client’s own professional advisors.

Thursday, January 22, 2015

Curtis Cloke's "I-DIA" Offers a Strategy to Help Close the Retirement Income Gap

The term "Divide and Conquer” addresses the logic of breaking up one issue or challenge into smaller chunks and then conquering all of the little pieces to try and help resolve what might appear as an overwhelming challenge.

In many ways, anyone can follow this logic. It doesn't matter whether it’s a complex problem or entity; it can sometimes be much easier to handle the issue piece by piece, rather than as a whole. This is why many financial professionals are finding this helpful in reviewing retirement income options for their clients, especially when considering Deferred Income Annuities (DIAs).

When following the divide and conquer strategy with retirement, it helps to break it up into two specific goals: first is to create a retirement income floor based on the client’s basic income needs. It means taking a look at the client’s lifestyle and time horizon, current income needs and figuring out what needs to be done to help maintain a certain standard of living. The second goal is to work to enhance the other strategies taking into consideration the client's desire for growth, legacy, and liquidity. Make sure to take into consideration inflation risk and taxes, while calculating the client’s net income needs and consider unforeseen emergencies and short-term discretionary income.

Once the client’s objectives have been divided, it’s time to consider strategies. Deferred Income Annuities can offer options for minimizing some risks and may offer opportunities for additional options to close up retirement income gaps. They've also been found to help alleviate some risks while protecting a client’s strategies dedicated to producing floor income.

Once a Deferred Income Annuity has been properly positioned, it helps protect principal and provides a precise level of income at a predetermined start date and adds a variety of inflation adjustment options. This rider is an additional feature available on some annuities and generally comes with additional costs that many times simplify strategies which can help close your client's retirement income gap.

Curtis Cloke, CLTC, LUTCF, is a pioneering advocate for Deferred Income Annuities (DIAs). He provides training through the Partners Advantage Advanced Coaching and Business Building program and is a licensed financial professional, speaker and author. His contributions toward the discovery, development, and delivery of the DIA have been nationally recognized and widely embraced as part of the retirement income puzzle by the financial industry. Curtis is the founder and developer of Thrive Income Distribution System and ThriveU. To learn more contact Partners Advantage at 888-251-5525, Ext. 700.

For financial professional use only. Not for use with consumers.

This information is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Encourage your clients to consult their tax advisor or attorney.

A Rider is an additional feature available on some annuities, and generally comes with additional costs. Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.


Friday, January 16, 2015

Training to Help You Increase Sales and Prospect

Focused training for financial professionals! Get informed on cutting-edge sales concept in just 30-40 minutes each Wednesday at 11 a.m. Pacific, 12 p.m. Mountain, 1 p.m. Central, 2 p.m. Eastern

My Sales Insights is a comprehensive learning program delivered live by high-caliber presenters (including an industry leader Harry N. Stout) 

The program will provide you with:
·           Cross-training and sales concepts to help you open doors to new sales and bigger cases
·           Live, interactive training in 30-40 minutes
This training covers a breadth of topics, including life, annuity and linked-benefit products in addition to prospecting techniques, compelling sales tips, advanced market strategies, and compliance and suitability. Plus, you receive access to additional online resources, including bite-size training and consumer-ready presentations.
Register here using Customer Code:PAREC  Training compliments of Partners Advantage.

For financial professional use only. Not for use in advertising or solicitation to consumers. 

Thursday, January 15, 2015

Determining Client Needs and Policy Amounts

When identifying how much term insurance is appropriate for your client, it’s important to evaluate their current financial needs as well as their financial and estate planning goals. When determining a client’s coverage amount, guidelines can vary depending on the situation.

Determining Expenses
Immediate Expenses are those that a client’s survivors and beneficiaries will face directly following their death and may include:
 üUncovered or outstanding medical bills
 üFuneral and other final expense costs
 üPaying the mortgage on the family home
 üCovering the cost of car loans
 üOutstanding student loan debt
 üCredit card or personal loan debt
 üFees and costs associated with settling the estate

Ongoing Expenses are everyday cost-of-living expenses the client’s surviving beneficiaries must handle on a regular basis, and may include:
 üInsurance for the home, autos, health and life coverage for surviving spouses

Future Expenses are those a client can reasonably anticipate needing to cover in the future, including
 üChildren’s college education     üSpouse’s retirement

Then it’s asking how you can help your client calculate their coverage amount.

Coverage amounts vary according to each client’s unique situation, needs and goals. Your clients’ best asset for selecting the most appropriate policy value will be your professional expertise.

Even if your client isn't earning an income because they’re a stay-at-home parent, homemaker or non-paid caregiver, you must also be able to assign a dollar amount to the services they provide to calculate the most accurate amount of term life coverage.

In addition to deciding how much income the client’s family will need to replace, you’ll also need to consider:
       Their debts and all expenses
       Their savings and investments
       Whether they’d like to leave a financial legacy
       Probable future expenses like college tuition

For Financial Professional Use Only.  Not For Use With The Public.  This material is intended for educational purposes only and is not intended to serve as the basis for any investment or purchasing decision.  This article is not intended to provide financial advice and does not address individual circumstances.

Thursday, January 8, 2015

Framing the Life Insurance Death Benefit Need with the Underwriter

I was standing in line at the coffee shop when a wealthy gentleman walked up to me and said, “You look like you sell life insurance and I need $10 million in coverage!”

Really? Sorry, but it just doesn't happen this way and you know it. Effective and efficient financial planning involves more than just an arbitrary amount and an unsubstantiated purpose, especially when it comes to life insurance. Each application you submit must reflect how and why the policy was sold, as well as an explanation of how it meets the client’s goals and needs. While everyone may “need” a $10 million policy, does that so-called need really align with the loss of income they’re trying to replace and the purpose of the coverage?

So what’s the best way to convey this crucial aspect of the sales process to the underwriter? Simply write a comprehensive cover letter on how the sale was made, the purpose of the coverage and the calculation indicating how you arrived at that amount (and just because a customer wants it is NOT a good reason). Presenting this cover letter with the application frames the picture you want the underwriter to see when they review the case and assess the risk and show the need for insurance.

Need some help writing cover letters that effectively convey these points? Contact Partners Advantage Underwriting and we will assist you in not only putting your sale on paper, but also in performing calculations needed for financial justification. By creating a detailed cover letter outlining the complete sales process and the coverage purpose, you’ll present a more positive perception of the partnership with underwriting, and it may ultimately aid in a smoother underwriting process. Now you can have that cup of coffee you were waiting for!

For financial professional use only. Not for use with consumers. This material is intended for educational purposes only and is not intended to serve as the basis for any purchasing decisions.


Thursday, January 1, 2015

Powerful Marketing Tips for 2015

Rise Above Competition 
Powerful Marketing Tips to Help Set You Apart from the Crowd in 2015

In the competitive world of insurance, financial professionals are always looking for new and innovative marketing ideas to stay ahead of their competitors. This can be challenging in an industry with similar products and solutions, but as an insurance marketer you must dig deeper to find ways to distinguish your business and convince the customer they should place their trust in you not only today, but for many years to come.

To reach customers and ultimately help grow your sales, it helps to add several new approaches to your overall strategy. This can be done by:
1. Create Your Elevator Speech – Have a mission or focus statement that describe your goals and share how your business can help the consumer.
2. Identify Your Key Clients – Pinpoint top clients and market to these individuals regularly. By analyzing your customer base, it helps you focus marketing efforts and identify key links in business development activities.
3. Schedule Yearly Check-ups – Regularly make contact with policyholders throughout the year. Find at least one way that may make your client happy with your service, whether it’s a new discount or improved coverage.*
4. Rate Your Service – Asking your clients for input can help you determine what services or products are important to them. If you receive constructive criticism, take it in stride and use it as an opportunity to make it right.
5. Skip the Elevator Music – When your clients are on hold at your office, utilize the time to expose them to a wider array of your services.
6. Make a Phone Connection – Know your market, including what makes it tick and the areas of opportunity for financial education.
7. Go Beyond the Birthday – Watch for significant life events in your clients’ lives to acknowledge and celebrate. This can help set you apart from the crowd.
8. Fill in the Blank – When out in public, carry blank cards for people to fill in their name and contact information. This exchange could aid in strengthening connections and helps you stay prepared and organized.

By adding several new approaches to your sales repertoire, it can help you rise above the competition in 2015.

*Gifting laws can vary by carrier and state. Review the regulations in the states in which you do business prior to implementing a gifting strategy.

For financial professional use only. Not for use with consumers.

Wednesday, December 24, 2014

The Role of Financial Underwriting

Financial underwriting can make or break an important case.
Therefore, clear submission of the two most recent tax returns, profit-and-loss statements and balance sheets are crucial to the success of business life insurance cases, as these materials will allow the underwriter to valuate business interests and the precise definition of business life insurance needs properly and accurately.

In order to justify personal and estate planning insurance needs, tax returns, appraisals, and a clear description of insurable interest is necessary for smooth underwriting. Agents and advisors who use a modern diversified financial planning approach will find that a complete financial background naturally flows from this process. What’s more, this approach will also justify the need for coverage based on confirmed client needs.
If you find yourself dealing with an unusually complex situation involving a large estate or complex business or farm interests, a team approach will be necessary. Advanced markets resources at the IMO or carrier level are able to make certain the concepts presented validly address client needs.

These same resources can ensure that there is a smooth interface with the client’s other advisors, such as attorneys and accountants. Oftentimes, this interface is just as important as medical or financial underwriting to successful case placement.

For financial professional use only. Not for use with consumers.

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This material was not intended or written to be used, and cannot be used, to avoid penalties imposed under the Internal Revenue Code. This material was written to support the promotion or marketing of the products, services, and/or concepts addressed in this material. Anyone to whom this material is promoted, marketed, or recommended should consult with and rely solely on their own independent advisors regarding their particular situation and the concepts presented here.

PAIS 04111714