Do You Ever Have Doubts About Selling Your Clients A Fixed Annuity? And Helping Your Client To Have An Income They Can’t Outlive?
Dear Friends, One of my jobs at the Insurance Pro Shop is to help agents and advisors come up with the best annuity recommendations for their clients. And many times it involves selling fixed and immediate annuities so your clients have an income they can’t outlive! It’s an awesome responsibility. And one I don’t take lightly!
All of us in this industry have a huge responsibility. Every time we meet and talk with a client we guide and advise them on their financial lives. It is a huge burden to have on your back. Because you deal with people’s livelihood. And, if we don’t do our jobs correctly, then we can leave families devastated. On, the flip side, when we do our jobs well, we give families hope and a bright and secure financial future.
Hopefully, you recognize this and truly care about the people you meet with. If not, then I ask you to rethink being in this industry.
If you do truly care about people… And you are anything like me… Then there have been times when you have second-guessed yourself. Some questions and doubts might creep into your mind… Am I doing what is best for my clients? Is selling my clients a fixed annuity at x% good enough? Would they be better off investing in the market? And the questions go on and on! If these thoughts have ever crossed your mind, then take pride in them. It means you care and will do your best to put your clients in the best financial position possible.
You Can Help Your Clients By Selling A Fixed Annuity
If you are concerned about whether you are doing a disservice to your clients when you recommend and sell a fixed annuity at x%. Or you have them put their money into cash value life insurance. Then let’s look at the S&P 500. Because it is the most common benchmark used to evaluate and compare investment returns.
In 1999 the S&P 500 ended at 1469.25. In 2016 the S&P ended with a historic high of 2,238.83. If you were to average the return over those 17 years, the actual average return is about 2.51%. And that ignores annual management fees! So, if you had sold your clients a 3.0% fixed rate annuity, then would they have made more money?
Remember, by law, we are required to remind our clients over and over again… “Past Performance Is Not An Indicator Of Future Results!” We have no idea what the future holds. No one does. We can only hope the market will do well, but we can’t be sure.
Also remember, for many people, this is the only money they have available to them for their retirement. Can they afford to lose any of it? If they lose money, then what would that do to their retirement income? And if their income goes down, will they need to use some of their investment principle to maintain their income? If they take their investment principle, then could they eventually run out of money? Is it worth that risk? So is selling a fixed annuity appropriate for many of your clients?
Help Your Clients Determine Their Priorities And Goals
Do you want to make sure you do right by your clients? Then you need to have a real conversation with them. If you do a ‘1-size-fits-all’ approach, then you may want to rethink what you do. Are you doing what’s best for your client? It is crucial to find out what their goals and priorities are.
One of the biggest issues I see when I help agents on their cases… is to discover what the client’s original agent ignored. Or why didn’t they take the time to find out about what the client needed or wanted? Instead, the original agent put them into one of the hot new ‘income rider’ variables or index annuity products… without considering growth, liquidity, safety, guarantees, lifetime income, income taxes, etc.! While these products do guarantee an income, the income is based on them never needing or touching the investment principle. Does that provide the safety and guarantees for an income your clients can’t outlive?
This brings me to my final point, how can we know what’s best for them? Half of the time, our clients don’t even know what they really need or want. Many times, they don’t even know what kind of questions to ask you. There is slim to no training out there to help the average family with their finances. Our country is sadly, very ignorant of its financial situation. So, if they don’t even know, how are we supposed to figure out what is best for them? Simple, ask questions! Get them thinking, and find their needs and ultimate desires. Help your client to have an income they can’t outlive
We Can Help You To Tailor A Plan To Help Your Client To Have An Income They Can’t Outlive
There is much more to selling a fixed-rate annuity to clients than just offering ‘income riders!’ Do a proper fact-find! Ask them probing questions. So you can find out their desires. And then tailor a plan to meet their exact needs and wants. The best part is when you do this, you will close significantly more cases. And you won’t get replaced. Plus, people will refer you to everyone they know!
Do you want to find out more about how you can help your clients when you sell a fixed annuity? Do you want to know the different approaches you can take? Like how to combine selling a fixed annuity with an immediate annuity to generate an income your clients can’t outlive. What questions should ask them? And how to truly be a hero to your clients… Then give us a call! Toll-Free 877-297-4608 or Direct 770-443-2852
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We will show you how to find your best annuity leads/prospects. So you will set great annuity sales appointments. Then we will show you how to help your clients and prospects see and want to solve their money problems. We will also show you how you can help your clients and prospects find the money so that they can take action right now! Then we will show you the best ways for you to present your solutions to your clients and prospects to close 9 out of 10 annuity sales. So you will earn $250K, or more this year selling clients fixed annuities and life insurance like the legends.
When will you get the best training for insurance agents… along with the sales support that you need? So you sell clients a fixed annuity the right way?
“I have been working with Jeremy Nason at the Insurance Pro Shop on Annuity & Life cases for the past couple years with great success. In a nutshell, I have found that my IMO’s have tunnel vision when it comes to case design. And to be blunt, most are not good at it. They tend to focus primarily on pushing product.
Jeremy, on the other hand, is the polar opposite of an IMO. And he uses both his creativity and case design experience to maximize the benefits for the client in a simple, easy-to-understand, illustration. He does a great job of comparing the client’s current plan to the “new proposed plan” that we developed in a collaborative manner. As a result, his process helps the client see clearly the major differences between what they’re currently doing and what they should be doing, if they want to live a safe, secure, comfortable retirement and meet their overall goals and objectives. I have found that when I use Jeremy’s system and his easy to understand two page illustrations, the majority of the time I end up making the sale.” Andrew Maisch – NJ
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Nothing Will Change Until You Make it Change. So It Is Up To You To Learn How To Help Your Clients To Have An Income They Can’t Outlive! To Make It Change!