Bonus Money From Several Carriers is Available

Assurant, UHC and Starmark are all offering bonus money on their group and or individual products.  These bonuses are a great way to earn additional income while providing your clients with quality products from outstanding carriers. Contact Heather Matias or Angela Moore for details.

 AMG Has A New Member

We are please to announce the latest addition to the AMG family.  Annabel Lee joined us September 13th 2010 at 6lb 13oz  and 21 inches long.  We offer our congratulations to Heather Matias (who by the way was working on cases from her hospital bed) on the birth of her beautiful daughter.

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Met Life offers Rapid Underwriting Program

On October 22, 2010, MetLife will launch Rapid eUnderwriting, an innovative underwriting process designed for the buying preferences of younger clients, and to help financial professionals capture a leading share of a $20 billion premium opportunity. Click here for details.

EZ Life has been improved

If you are already using EZ Life the new dashboard will allow you to have clients imput their request while you retain control of the submission. This new feature along with the available 24/7 case status and the same one page application for all carriers makes EZ Life the most effective program available for writing term insurance.  And best of all you continue to recieve full compensation on your business.

Policy Review Kits Are Available

The new Policy Reveiw Kit is now available.  This program is a great way to provide service to your clients and generate life sales.  Included are client letters, statement stuffers and needs analysis worksheets.  Everything you need to promote interest from your client, do the review and close the sale.   As a perfect compliment to the policy review program, Mets new rapid underwriting program and EZ life sales will eliminate much of the paperwork and provide quick turnaround on your cases.

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Volume 19
Issue 9
September 2010

Policy Review Case Study

Actual example of a case written by one of our brokers using policy review:

A husband and wife aged 55 and 53 who own and operate a privately held wholesale business.

The client’s existing three individual life policies (two on the husband and one on the wife) had a total death benefit of 2,000,000 with an annual premium of $25,432.  These policies were owned by the family business which was also the named beneficiary. 

The existing policies fell short of an estate tax liability of approximately 3,000,000 and having the company as owner and beneficiary only served to increase the size of the estate.

The solution:

Changing ownership and beneficiary to the insured’s children (They chose not to establish a trust)

New Coverage proposed and written was a Genworth Second to die policy with a death benefit of 3,225,000 including a no lapse guarantee

New Premium $23,477

There is now adequate coverage to pay the estate tax and they have reduced the size of the estate by changing the policy ownership and beneficiary.  Gifts made to the two children are below the threshold of a gift tax and more than cover the premium.

The broker in this case had the group insurance for the company but did not write the original life policies.

By offering a policy review, the agent was able to improve the situation for his clients and made a great sale. 

Policy Review - Order you kit today by contacting Steve Gresso.

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