How To Wrap Permanent Products

Permanent life insurance products have the potential to safeguard clients’ retirement as well as their family's’ financial future. However, there is still a bit of a stigma when clients are comparing them to 401k’s and IRA’s. This holiday season, make sure you are wrapping permanent products in the right wrapping paper. Here are the top aspects to highlight to clients when discussing permanent life insurance products:

1. Permanent life insurance offers tax-deferred growth and distribution. As long as premiums are paid, the interest earned in a permanent life insurance policy grows tax deferred. If a death benefit is paid off, the payment is given on a tax-free basis.

1. Permanent policy owners can easily access their assets. Products will feel similar to a savings account.

1. Permanent products let clients become their own banker. Policyholders can borrow against their death benefit with ease. No more waiting to see if your loan request will be rejected.

1. Clients who borrow against their permanent policy have control over their payments. They can decide how much they want to pay back and how often they want to pay, with some conditions.

1. There are often extra benefits that can be added to the policy. Additional riders such as waiver of premium, accelerated benefits, and more can be tacked onto their policy for minimum cost.

Use these tips along with our IUL Product Guide while you’re out in the field!

If you would like additional information, give Brokers Alliance a call at 480.296.0169.