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Day 2 – Insurance

Day 2 – Insurance. We are National. We are the Best. Together, We are National Best. 5 Categories of Insurance. Life Insurance Needs Analysis. Five Finger Rule: What do you have that needs protecting? What do you owe? For whom are you financially responsible? For how long?

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Day 2 – Insurance

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  1. Day 2 – Insurance We are National. We are the Best. Together, We are National Best.

  2. 5 Categories of Insurance

  3. Life Insurance Needs Analysis • Five Finger Rule: • What do you have that needs protecting? • What do you owe? • For whom are you financially responsible? • For how long? • What do you expect will change?

  4. 3 Types of Life Insurance • Term • Whole Life • Universal Life

  5. Term Insurance • Rent Death Benefit (DB): Typically No Cash Values • T10, 20, 30 (Typically Expires Age 80) • Term to age 100 • DB: Increasing, Decreasing, Level • Renewable / Convertible to Permanent Insurance $ COI T100 T30 T20 T10 ___________ Client Initials

  6. Whole Life Insurance • Buy DB + surplus to Cash Value (Bundled) • Fixed Deposit Schedule: Pay 10, 15, 20, to age 65 or 100 • High Deposits, Participating Policies (Dividends) or Non-Participating • Savings = Guaranteed Investment Account • Loan Options: Policy Loan or Third Party Loan • Loan Max up to 90% cash value $ COI ___________ Client Initials

  7. Universal Life Insurance • Buy DB + surplus to Cash Value (Unbundled) • Deposits & Cost of Insurance typically NOT Guaranteed • Investment Ceiling but NO floor: Investment Returns NOT Guaranteed • Loan Options: Policy Loans (10-8, 9-7, 8-6, 6-4) or Third-Party • Cheapest way to buy insurance with tax-deductible dollars when properly structured and well funded $ COI Max UL Min UL ___________ Client Initials

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