Work with group insurance? The typical group life insurance policy tends to be small face amounts.
Even worse – this is the only life insurance most people have! Worksite Life offers employees a choice of Term.
only pays out if the employee is actively at work, and if they ever leave employment the insurance cancels.
Return of Premium Term or Whole Life insurance at face amounts they get to choose.
The products are 100% portable – they go with the employee if they ever leave.
They are paid through payroll deduction, and the BIGGEST advantage is they are GUARANTEED ISSUE for the employee – NO HEALTH QUESTIONS! Make sure you add this product to any Employee Benefits Package you offer to your groups!
03. College Funding
Placing an Indexed Universal Life policy on a child not only covers the life of the child and at a lower cost than a policy on an adult, but the potential cash value accumulation inside the policy can help offset the costs of college in the future.
What if they don’t go to college or get scholarships? Use the cash and the gains for whatever needs you may have in the future – and if managed correctly, its 100% tax free!
04. Linked Benefits
Life Insurance with Long Term Care Benefits. We call it “Live, Die, or Quit...YOU WIN” Life Insurance. Live...
1) GUARANTEED PREMIUMS for Long Term Care benefits. Your client’s premiums are guaranteed to never increase. Your client has access to 100% of the death benefit paid monthly for long term care for nursing facility, assisted living, home care, etc. Die...
2) Guaranteed TAX-FREE DEATH BENEFIT. When they die, the death benefit is income tax-free to their beneficiaries.Quit...
3) Guaranteed CASH VALUE GROWTH. Your client’s money grows annually at a minimum of 4% (unlike CDs and money markets)
4) RETURN of PREMIUM (all years). If they decide to terminate the policy, they’ll receive all premium payments back....
05. Term vs. Term ROP
Term insurance is easy. You buy coverage for a certain period of time.
If you die during that period, there is a death benefit.
If you live, you get nothing.
But what if you could get something back? Return of Premium Term (ROP Term) offers the same coverage during a set term length, but if you are still alive after that term length, you get all your premiums back! Most people aren’t using term for actual death coverage, it’s just-in-case type coverage.
Any time you show a term case, make sure to show an ROP term option as well.