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Destroying Group Insurance and Cash Value Insurance

Destroying Group Insurance and Cash Value Insurance. Group Insurance. Provided by your employer Usually 1x or 2x salary Can purchase up to 5x salary. Question to Ask. Better job, better benefits, same position Would you consider coming and working with me?

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Destroying Group Insurance and Cash Value Insurance

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  1. Destroying Group Insurance and Cash Value Insurance

  2. Group Insurance • Provided by your employer • Usually 1x or 2x salary • Can purchase up to 5x salary Question to Ask • Better job, better benefits, same position • Would you consider coming and working with me? • What would happen to your group policy?

  3. Group Insurance • Not Portable • Not Enough Coverage • Arlington Police Office Story

  4. ObjectionsI’ll wait until I get another job… • How do you know you’ll be insurable? • How quick can your insurability change? Our group coverage is enough… • One of the reasons people don’t do well financially is because they abdicate responsibility. • Social security was invented because people didn’t want the responsibility of saving for retirement..how has that worked? • Does it make sense to abdicate responsibility to your company?

  5. Objections Our group coverage is enough… • How much coverage do you have? • If you died, would you want your family’s standard of living to be…better? Worse? Stay the same? • How much better can their standard of living be on 1 or 2x salary?

  6. ObjectionsRelatives will take care of the family… • Don’t you think your family would appreciate some financial help to help raise YOUR children? • If you died, and all of a sudden your children become a financial burden, what would that do to their situation? • Are they doing as well financially as they’d like to be? • Let’s call them right now and ask how they feel about you not wanting to protect your family…

  7. Cash Value Insurance • Insurance and investments bundled • Expensive • Fees • Rising costs Question to Ask • Why did you get this policy? Protection? Investment? Both? • If you were to change…lower cost? More coverage? Higher return? • How did you meet your agent? Why this policy?

  8. Whole Life Insurance • Low return • Borrow your own money • No survivorship Variable Life • High fees • Rising Cost of Insurance • Settlement Options • Policy Loans

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