Under Attack? Fall Back

There is a popular saying “the customer is always right” – in fact some very successful corporations base their whole business model around that concept. But those of us in the financial arena who deal with clients everyday know that the idea that the client is always right  is not necessarily true. In fact, it is often not true. Our clients come to us because they are not sure of what to do in this very complicated financial world that we live in. But, while the client is not always right, he is definitely the judge and the jury. This we must be aware of in all of our dealings. So how do we respond when we are under attack – being questioned about something we absolutely know is wrong?

Another popular saying is that “a good offense is the best defense.” But in the financial arena, again this may not be the best approach. If you take a so-called “good offense” and attempt to justify and explain your position you will likely cause your client to dig in his heels. A “good offense” will only make your client feel “not OK.” Why not try a different approach? When under attack- fall back.

How does that look? What does falling back sound like? Suppose your client challenges your idea that an annuity is a good solution for their concern of “outliving their income in retirement.” Now we know that is not correct but again- to go on the offense might force your client to dig in their heels. But, using questions- we can successfully “fall back” and give our clients the opportunity to change their mind. Here is what that might sound like:

“I imagine you have made up your mind already that a guaranteed lifetime income is not for you and that you do not want to go forward. Would that be a fair statement?

“If you were in my shoes what would you do to make this work for you?”

“Is it me, or is something bothering you about this concept?”

“Falling back” takes the wind out of the customer’s sails and makes it possible for you to have a conversation in which each side is OK. Once the emotional intensity is reduced, and nobody is under attack, you have a better chance of working towards a solution.

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Is It Time to Merge?

Now Might be a Good Time to Merge your Agency with Another

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Is There A Loan On Your Life Policy?

1035 Exchanges of Life Insurance Policies with Outstanding Debt

We have been assisting our brokers and their clients with loan rescues for over 30 years.
If you are interested give us a call.
We can step you through the entire process.
Starting with the reason why your clients policy is at risk.
Then we obtain an in force illustration.
Once we both determine the policy is at risk, we will then develop a series of rescue options for your client.
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How to Win an Argument

Arguments have played a vital role in shaping societies. In fact, we could have never progressed without challenging dominant viewpoints and changing the way others see the world.

Argumentation is an art, but it is one that requires a great deal of time to master. After all, having the ability to persuade and influence people is never an innate skill. It never will be. It takes time for one to polish his rhetorical skills and be able to argue with people on a wide variety of issues. `

All you have to do is to have patience and make use of the most important tips to convince even the staunchest debaters.

Know your purpose

The first thing you will need to do is to figure out why you are having an argument in the first place. This would help you to create rebuttals that will certainly win over opponents to your fold. What’s more, knowing the reason why you want to keep on arguing should also help you in terms of formulating your rhetorical strategy. You also need to ask yourself if the argument is worth or if so much is at stake.

Size up the other person

Do not just focus on what you want to achieve. Besides, this could pass as the easiest tip to learn in the area of debate. But to further enhance the appeal of your propositions, you will have to assess your opponent first. This would mean keeping tabs on their habits as well as examining their choice of words. You should also anticipate what they are going to say next by throwing key phrases or words that can lower their defenses.

Come prepared

While you can’t always expect to engage someone in an argument no matter how trivial or academic it could be, it is still crucial to flex your debate skills and do research on possible topics you will be arguing over. Any well-meaning law frim know better than to come to court unprepared since doing so would put their reputation on difficult ground. With that being said, it pays to read about new things each day and apply what you know to the real world.

Show confidence

The way you project yourself to your opponent can greatly impact the way you structure your arguments. Confidence is always an important component of success, and to deliver a penetrating counter-statement requires being able to convince yourself that yes, you can influence people by the power of your words. To do so, you will need to appear authoritative if you want your voice to have power over your audience.

Address each point one by one

Engaging in a debate might seem like the easiest thing to do. It is not. In such a game where logic rules supreme, it is crucial to possess a sharp mind or have the ability to sort one’s thoughts into consumable bits. It is another thing to examine another person’s statements and determine logical flaws. In that case, it is actually a bad idea to address an issue on the whole. The better way is to observe certain statements, slicing them up into segments and identifying loopholes where you can wriggle your way through.

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Get On the Index UL Train

Indexed life sales up 6.1% in 2017

Total 2017 sales of indexed life insurance came in at $1.9 billion, an increase of 6.1% as compared to 2016, according to the Wink’s Sales & Market Report, released on March 14.

“Another record-setting year for indexed life sales is on the books!” said Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc., based in Des Moines. “Five of the top 10 manufacturers had double-digit sales increases; this is absolutely a product line with growth potential!”

Indexed life sales in the fourth quarter of 2017 totaled $575.2 million; up 20.3% when compared with the prior quarter, and up 7.6% as compared to the same period last year.

Items of interest in the indexed life market included Pacific Life Companies retaining the No. 1 ranking in indexed life sales, with an 18.5% market share. National Life Group, Transamerica, and Minnesota Life-Securian round out the top four sellers, respectively.

Pacific Life’s Pacific Discovery Xelerator IUL was the top-selling indexed life insurance product, for all channels combined, for the quarter. The top pricing objective for sales this quarter was Cash Accumulation, capturing 79.7% of sales. The average indexed life target premium reported for the quarter was $9,073, an increase of more than 5.0% from the prior quarter.


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High Impact Appointments

Last year we were lucky enough to host a conference featuring Joe Ross from AIG and the Sequoia Program called “High Impact Appointments” All who attended walked away with some great ideas on how to get more out of each appointment. Here is one of the better ideas for you to consider:

Define Your High Impact Appointments

The typical financial professional conducts dozens, if not hundreds of meetings every year. While we like to think that each contact is a unique experience, the far more likely scenario is that dozens of meetings are generally made up of perhaps 4-6 different types of meetings done multiple times each year. Furthermore, while it is nice to believe that each of our meetings has equal impact, the reality is that only a handful, perhaps 2 or 3 of our meetings actually produce the greatest impact on future business with clients. The ability to repeat those relatively few high impact appointments has an enormous impact on our overall success.

So which appointments produce the highest impact? That is for you to decide. No two times are the same and there are differences for each of us. For this reason it is good to define and identify what are the 3 or 4 highest impact appointments in your arsenal. Once defined you need to focus on a few key elements. Break it down so you can duplicate success over and over again.


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An Eight Year Window

Saving for retirement is key for most business owners and professionals. Its need is now magnified – with all the comings and goings in Washington — with talk of reducing 401k contributions — with other threats to retirement benefits. The time is now to become more self-sufficient in planning for your retirement.

The new Tax Cut and Jobs Act gives sole proprietors and pass-through entity owners a special tax benefit, but one with a narrow window. For 8 years starting in 2018, most owners can deduct up to 20% of their business income. It’s an unprecedented gift to help fund retirement. Take your tax-free income and relay it into a tax-advantaged cash value life insurance policy. Grow your cash values tax-free and receive tax-free income in retirement.

The Fine Print

How much you have by way of savings, and how much you might contribute to a life insurance policy will vary from person to person. To participate in this approach, you need to have an established life insurance need. The amount of life insurance and the contribution will vary based on many factors, including your life insurance need. The
accumulation potential may vary based on the premium for the policy and the insured’s medical underwriting.

• To be effective, you need to hold the policy until death. A life insurance policy generally takes years to build up a substantial cash value.

• Tax-free distributions will reduce the face amount and cash value of a policy. You may need to fund higherpremiums in later years to keep the policy from lapsing.

• Generally, there are many additional charges associated with a life insurance policy, including but not limited to, a front end load, monthly administrative charge, cost of insurance charge, additional benefit rider costs and surrender charges. The amount that can be contributed will also vary from person to person. You’ll want to work with your tax advisor to determine how much is a reasonable annual contribution based on their business.

• This is only a limited window that expires after December 31, 2025. To take maximum advantage of this window, work with your financial professional to develop a design that optimizes this limited opportunity.

• $315,000 for married couples ($157,500 for single tax filers) is the key number. For many, your K-1 income will be below these amounts. Beyond these amounts there are a complex series of calculations. For most white-collar professionals, their ability to deduct 20% phases out over the next $100,000 of income over these key numbers.

• For other business owners, additional tests apply over these thresholds that are tied to the business’ wage income and a portion of the depreciable assets. Your tax advisor might be able to suggest other tax planning that can help you plan your income and business deductions to help bring your income in line with the $315,000/$157,500 thresholds. Your tax professional can tell you your approximate tax savings to help steer some of the tax savings towards your retirement savings.

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