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Thursday, November 28, 2013

Understanding How Emotional vs. Rational Purchases Can Lead to More Annuity Sales

The process of assisting clients has to be filled with patience. Customers haven’t developed their deep-rooted emotional attitudes about money overnight, so developing affections for annuities won’t happen immediately either. This is why it’s important to listen. A successful financial professional will discover what motivates clients to action, learning their goals, objectives and preferences. When this sales process is used, the client can begin to feel more comfortable and may be more willing to look at different products.

When sharing information about fixed annuities, make sure the product fits the client’s needs. Don’t be afraid of objections, as this can be a normal part of the selling process. Approach the concerns with patience and understanding. As a financial professional, you need to be willing to discover if there are any fears. Then you can help guide the client through the process of discovering what’s factual.
Once you have informed the client, a seed has been planted. Then give the client time to think about it. Continue to send articles, newsletters and other items that provide added information. Be patiently persistent and make sure they know you’re there through the long run, and eventually, the client may be able to better understand fixed annuities and their value. Trust and understanding are good partners.
For more information about understanding the emotional vs. rational sales process, you can access the full article by filling out this form {link here}.

For financial professional use only. Not for use with consumers.
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Thursday, November 21, 2013

Would You Like Fries with That?

Why should life insurance professionals be offering fixed annuities to their clients too?

The key to success in many businesses is serving a number of clients needs. If you're not serving your clients needs on many levels, they may look elsewhere. So, don't be afraid to ask a few extra questions. Some of America's most successful fast food restaurants don't miss the opportunity to ask their customers, “Would you like fries with that?” or “Would you like to make it a combo?”

These are some conversation starting questions to ask which may open the door to cross-selling opportunities:

1.       What sort of interest rate are you earning on your savings?
                  Are you happy with that rate?

2.       Have you lost any of your retirement savings in the past few years?
                  Are you happy with that?

3.       Do you have any 401(k) money sitting with a former employer?
                Do you want more control of that money and how it is allocated?

 All of these are good questions, because many people have lost money in the fluctuating economy. Some of your clients may now be interested in taking extra steps to protect their savings, which in itself can draw that additional sale.  If the clients say they’re not interested in learning about fixed annuities right now, the original sale is still intact. It could also mean a future sale, as the customer thinks about the questions and later calls back interested.

Asking an additional question of your customers costs you nothing, but rather many times it creates big results in the end. Learn more about how to enhance your life insurance and fixed annuity sales with MyTrainingPartners.com. Register using the customer code: PAIS.

Please note that in order to provide a recommendation to a client about the liquidation of a securities product, including those within an IRA, 401(k) or other retirement plan, to purchase a fixed or variable annuity or for other similar purposes, you must hold the proper securities registration and be currently affiliated with a broker/dealer or registered as an investment advisor. If you are unsure whether or not the information you are providing to a client represents general guidance or a specific recommendation to liquidate a security, please contact the individual state securities department in the state(s) in which you conduct business.

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Thursday, November 14, 2013

Opportunities Abound in the Underserved Small Business Market

Today, there is a tremendous opportunity for today’s financial professionals who are willing to pursue the necessary training and knowledge to serve the needs of the small business market.

Small business owners are normally focused on the day-to-day activities within their storefront. They face certain risks on a regular basis, but also have unique opportunities at their fingertips. A financial professional’s job is to meet them where they’re at, helping them discover those risks and opportunities ahead of time. This means knowing different types of protection that are unique to them, as well as business succession and retirement planning, executive benefit plans and key person insurance. When all of this is in place, an owner is better prepared for a death or disability of a key employee or the opportunity to buy into a business.

It isn’t an easy task for a financial professional to learn all of these possible solutions, but if agents are willing to seek out the training necessary to give them the knowledge to provide solutions to small business owners, there will be relatively little competition within the market. It becomes easier to handle the challenges many small business face, because successful agents have identified the underserved needs within the marketplace and made the effort to build up their expertise. There certainly won’t ever be a lack of clientele.
For more information on how to assist small business owners, you can access the full article here  http://www.partnersadvantage.com/email/blog/Opportunities.html.



For financial professional use only. Not for use with consumers. Not intended to serve as tax or legal advice. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation.


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Thursday, November 7, 2013

Annuities with Linked Benefits Address Multiple Needs

In today’s world, nearly 70 percent of people over age 65 will likely need some type of long term care.1 The problem is not enough people are aware of their needs after retirement. This is why respected financial professionals should know which options are available for their clients.

One way this occurs is by learning about additional benefits available through annuity contracts, especially ones that protect customers from the potential risk of a long term care event that alters retirement strategies, such as asset-based Long Term Care insurance (LTCi) or linked benefit annuities.

This specific deferred annuity is a fixed interest rate product that provides leverage for up to three times the annuity value for the purpose of long term care protection. The charges come from the gross rate of return on the annuity and are very competitive when compared to the expense of traditional long term care insurance.

The nice thing about linked benefit annuities is they provide a single premium solution with both living and death benefits, avoiding the two most common objections of buying traditional long term care. A person can utilize a 1035 exchange and move their money into a linked benefit product. Another plus is the benefits for long term care, if needed, are tax-free.

What happens if someone doesn’t qualify for LTCi? The annuity industry has created alternative solutions to help these particular individuals. When a financial professional is aware of their client’s situation, they can point them in the right direction and show them that an LTCi or another option is a possibility for their future.

To read more about linked benefits, request the full article here.




This is not a comprehensive overview of all the relevant features and benefits. Be sure to review all of the material details about these products before making specific recommendations to consumers.

This document 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.

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