Accelerated Access Solution

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The Problem

If you haven’t asked your clients, “What’s your plan if you get sick?”, then you may be missing an opportunity to protect your clients’ assets through retirement, as well as provide a legacy for their loved ones.

In 2016, the average annual cost for Long-Term Care in a shared-room facility was $72,000-$120,000, and an average benefit period was just under 3 years.

The Solution

Secure Lifetime GUL 3

Secure Lifetime GUL 3 delivers guaranteed protection.

Clients have always loved the concept of certainty. In today’s world, they may appreciate it even more. Certainty for their families and businesses. Certainty for themselves. Certainty in the face of volatile markets and changing needs.

Secure Lifetime GUL 3 provides the long-term guarantees that clients are asking for. It’s a new class of GUL with a unique combination of features and benefits. And it’s designed to provide your clients with security and peace of mind – whether they die to soon, live too long or get sick along the way.

Avoid The Portfolio Killer

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Did you know that married couples retiring at age 65 will average $260,000 in healthcare costs? Even more will be needed if a chronic illness care is required! This makes healthcare the second largest expense in retirement.

Many clients’ portfolios are not prepared for the impact of a long-term care need. Instead of carving out a sliver of assets to cover this event, many Financial Advisors will watch their clients’ portfolios dwindle as they spend down those investments year after year to pay for long-term care expenses.

Let’s look at an example:

An FA in Pittsburgh had a client with sizable nest egg worth around 2 million. The FA never thought about covering this client in the event of a long-term care need, as the client had enough assets to “self-insure” if the situation came up.  Fast forward several years. The client was diagnosed with dementia and was confined to a nursing home for over 12 years. The client’s children were forced to spend down over $1.5 million dollars. Not only were the heirs out $300,000 per child, but the advisor lost their potential investment too. When the client passed away, her children took what little assets were left in her portfolio and moved them to another FA, their trust in the first advisor having been destroyed. Don’t be this advisor!

If the FA had simply suggested the client carve out a sliver of their assets to purchase the LTC rider, the clients’ portfolio may not have been depleted. The beneficiaries’ trust would have stayed with the FA, and their assets could have gone to the FA too!

Resources

Sequence of Returns Matter

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There are many benefits of owning a permanent life insurance policy. First and foremost is the life insurance death protection. Additionally, one of the many benefits that can be utilized along the way, if necessary, is access to the policy’s accumulation value for the benefit of the policy owner while living. For instance, accumulation value can be used as a supplement during the policy owner’s retirement years.

Investment returns are variable and unpredictable. The order of returns has an impact on how long a portfolio will last if the portfolio is in the distribution stage and if a fixed amount is being withdrawn from the portfolio. Negative returns in the first few years of retirement can significantly add to the possibility of portfolio ruin.

Let’s take a look at two scenarios below

SCENARIO A

Let’s assume we have a client that has accumulated a retirement portfolio of $1,000,000 at his retirement age of 65. This retirement account is going to be invested in an index fund that mirrors the S&P 500. This client’s goal, with this asset, is to withdraw $50,000 a year pre-tax to help support a portion of his post-retirement lifestyle. If he retired and experienced the sequence of returns in Scenario A, after a 10 year timeframe, he would have ended up with a projected account value of $506,951.

SCENARIO B

But what if we simply reversed the hypothetical rates of return? The results of the reversed sequence of returns is shown in Scenario B. By reversing the sequence of returns this client would have an ending account balance of $406,597.

Click Image to Enlarge

Unfortunately we can’t control what the market is going to do when we decide to retire. But there is a possible solution to help protect a client in years when the market does go down….Max Accumulator+.

If the client had purchased American General Life’s Max Accumulator+ when he was 50 years old, he could have funded the policy and utilized the power of IUL (upside potential with no downside risk due to market performance) to create an additional bucket of money that could be used as backup income source for the years following negative performance in his retirement account. Below is an example of the resulting scenario when using an IUL.

Click Image to Enlarge

Life Insurance Planning for Women

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Did you know that women account for 85% of all consumer purchases including everything from stocks, computers, and automobiles!

Women today represent a diverse segment of the financial planning marketplace. Today, women hold a variety of roles, including entrepreneur, professional, head of household, and/or primary caregiver – just to name of a few. Today’s women are highly educated and more financially empowered than ever before.

Although these trends seem positive, women still have challenges that need to be addressed.

Earning Power & Retirement Savings

Women earn an average of $0.80 to every $1 earned by men in 2016. Due to this trend, women are saving less for retirement and are more likely to leave the workforce to care for children, parents, or disabled loved ones!

Longevity

Women statistically live longer than men and therefore have a greater concern about outliving their retirement assets. With a reduced earning power and limited retirement assets, you can see why longevity is a real fear. Did you know that 50% of women over the age of 65 outlive their husbands by 15 years yet often have less coverage than males!

Underserved

Only 36% of women surveyed said that they trusted their financial advisor, which explains that, while most women said they did not intend to leave their financial advisor if their husband died, within a year of being widowed as many as 70% actually did so!

Learn more about the opportunities within this market and check out the marketing resources!

Insurance Planning for Women
(Consumer)

Download Brochure

Life Insurance and Women
(Consumer)

Download Brochure

Protect The Ones You Love Flyer
(Marketing)

Download Brochure

What Women Need to Know
(Marketing)

Download Brochure

Financial Experience & Behavior Among Women
(Research Study)

Download Brochure

Total Market Approach: Women
(Agent Only)

Download Brochure

View Your In-force & Pending Life & Annuity Cases

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Have you ever called FPG after hours to check on the status of your case or you needed information for a policy you placed in-force? Now you can use MyCases to check your pending business and in-force business!

If you have any questions, your case managers are always happy to help.

Gigi Gervacio 949.455.0119 x222   ggervacio@fpgonline.com

Tracy Gaspard 949.455.0119 x220  tgaspard@fpgonline.com

Try Out FPG’s Mobile Quote Tool!

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Sharing the value of life insurance is easier when you have FPG in your back pocket. Our mobile quote tool allows you to provide your client Term and GUL quote right from your mobile phone or tablet!

This tool is simple to use and provides you quotes to all our term and GUL carriers! You’ll need the death benefit amount, the term length, and the underwriting risk class you want to quote!

Click HERE to visit our mobile quote tool and don’t forget to bookmark the page for easy access!

Launch Mobile Quotes

Legalization & Risk Class : The Best Life Insurance Carriers for Cannabis Users

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California recently became the most populous state in the nation to legalize the recreational use of marijuana. With many states following this trend, which life insurance carriers offer the best underwriting for cannabis users?

Click HERE or the button below to download our carrier chart that includes carrier guidelines.

Did you know that marijuana use in the U.S. has doubled in the last decade, according to the National Survey on Drug Use and Health!

Understanding your clients options can set you apart from the crowd. Knowing what company can provide the most favorable rating and the best experience to your clients is just a click away! Download our chart by clicking the button below.

Download Chart - Agent Use Only

The Untapped Audience for IUL Marketing

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Indexed Universal Life marketing has traditionally targeted those ages 55-80, but some agents are starting to say this demographic is “almost tapped out”. If you also feel that is the case, you may want to shift your marketing to a consumer group that is highly motivated and largely untapped. Consumers age 36-55 are starting to think about retirement planning and the idea of a “tax-free retirement” is grabbing their attention.

Check out this article from Life Health Pro which provides you more insight into this unique group, and ideas of what to potentially “pitch” to someone looking for a “tax-free retirement”.

Click here for Article

*Life Health Pro is a free industry resource. You may be required to register to view the full content.

Generational Marketing

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The consumer landscape continues to evolve and we now live in an age where Millennials, Generation X, Baby Boomers, and Matures are worthy of our attention due to their evolving needs and spending power.  Because of such a diverse consumer base, traditional marketing efforts do not yield the results they once did.

To help you market efficiently to today’s consumer, American General has created Generation Matters. With resources such as Generational Marketing Tactics, Guides to Building Relationships, and fully scripted presentations, this website should be your main resource for Generational Marketing.

I encourage you to visit the website by clicking on the link below.

Visit Generation Matters

Submitting Electronic Applications using MyEasyApp

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MyEasyApp

Completing a 20 page life insurance application can be draining! If the process of completing the application wasn’t hard enough, scheduling a time to meet with a client to obtain their signature could be a daunting task as well. In an effort to simplify this process, FPG introduces you to MyEasyApp. Our electronic application system is easy to use, available anytime, and allows your clients to sign their applications electronically!

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