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integrated financial consulting how life insurance plays a role by paul thomas croft
Integrated Financial Consulting &

How Life Insurance Plays a Role

By: Paul Thomas Croft

slide2

Three questions from our last Meeting…1) What is the difference between a dream & A Goal?2) If Life insurance where free, how much would you like?3) has anyone ever explained the tax advantages, flexibility, and accumulations of life insurance to you?

slide3

www.croftenterprisesllc.comOur TEAM 1- Erin C. Ropes, General Manager2- Jeffrey P. Jensen, Financial Consultant (outside Sales)3- Sarah Kuebler, Administrative Assistant4- Long Yaj, Associate Financial Consultant/ intern5- Paul Thomas Croft, Principal

slide5

Topics I will Cover:1) Life Insurance on your children, or grand children. The Gift of a Lifetime!2) Buy/ Sell Coverage and funding it with life insurance.3) Key Person Life Insurance, and the 3R’s.4) Long term disability insurance, and some thought provoking questions.Paul, “how can I get you in the door?”

slide7

4 Types of Programs/ Plans for Educational planning, that I am aware of:1- 529 Plans2- UTMA/ UGMA Accounts3- Coverdale or ESA Accounts4- Permanent Life Insurance

slide9
4 things to know when setting up these accounts:1- Insured ?2- Beneficiary ?3- Owner ? **(Trump card)4- Payor ?**Example…
slide11
Life Insurance used when funding a Buy/ sell AgreementTwo Types of Agreements: 1- Entity Purchase. 2- Cross Purchase.
slide16

Key Person Life Insurance, and the 3 R’sKey person insurance, also commonly called key man insurance and key man insurance, is an important form of business insurance. there is no legal definition for "key person insurance.” In general, it can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of the member of the business specified on the policy.The 3 R’s (Paul’s Definition): 1- Recruiting. 2- Retaining. 3- Rewarding.

slide18

Disability Income Insurance, and some thought provoking questions:1- Job A vs. JOB B?A- NO LTD through work, but $5,000 per month of gross income.B- $2,500 per month of LTD through work, but $4,800 per month of gross income.2- What would happen to you if you were to become sick, injured, in a car accident, or unable to work? Would it have an impact on you, how about your family?**Quick Story…3- What does your program look like?**Complementary Review**4- Here is my program:a- 4 (DI) policies set up:B- Illinois Mutual, LTD- $1,500 per month.C- Illinois Mutual, DOE (BOE)- $1,500 per month.~ ($11.04 Per month).D- Guardian, LTD- $1,250 per month.E- Guardian, DOE (BOE)- $4,000 per month.**Total per month = $8,250 per month of coverage, Income tax Free.~ $147 per month.5- What is important to you?