Variable annuities - not for seniors

It’s remarkable to learn about the number of seniors who have Variable Annuities and are tied to the stock market. When seniors experience losses on their statements, they become alarmed, seeing the money they intended to leave for their children is dissipating. Variable accounts are a rollercoaster. Seniors often times may not live long enough to recoup their losses.

Piggy Bank

Ask your senior clients 3 questions

1. Do you have any dollars that are set aside primarily for the benefit of your family? (money that you don’t need access to live on)

2. In the last 2 to 3 years, have you made an investment or bought a product that has not performed that way you expected it to?

3. If there was a way to recover your loss for the benefit of your family, as if you had never made the investment in the first place, would that be of interest to you?

If you answered yes to any of the questions above, I would encourage you to call me to explore some options that I think would benefit you and your family.

In our Case of the Week, an agent did just that for his client who had lost significant money in a variable account.

The client's two concerns were long term care, and wanting to leave money to her children. This positioned her as a great fit for a Single Premium Life policy with an LTC rider.

Overview

  • Client: Female, age 73
  • Rating: Standard Plus non-tobacco (third best health rate)
  • Single Premium: $150,000
  • Death Benefit: $325,096
  • Monthly LTC Benefit: $13,004
  • Commission: over $12,000

Isn't it time you added a Life Insurance Review to your practice?


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