Senior Marketing Consultant, EquiTrust Life Insurance ... · and annuity business with both ......
Transcript of Senior Marketing Consultant, EquiTrust Life Insurance ... · and annuity business with both ......
• Senior Marketing Consultant, EquiTrust Life Insurance Company
• 15+ years experience in the life and annuity business with both marketing and new business
• Life licensed
LEAVE ON!
WealthMax Bonus Life® & MarketTwelve Bonus
IC14-WX-1091 For Producer Use Only.
Two Exciting Products from EquiTrust Life
LIVE ON… AND
LEAVE ON!
Products that give your clients money to
EQUITRUST LIFE PRODUCTS
Help Fulfill Client Objectives with Single Premium Life Insurance
Turn $50,000
Into $103,500
An Effective Means for Wealth Transfer
Example assumes female age 60 non-smoker. For Producer Use Only.
Death Benefit
EQUITRUST LIFE PRODUCTS
Help Fulfill Client Objectives with Single Premium Life Insurance
Turn $50,000
Into $103,250* Living Benefits
*When Death Benefit accelerated and taken as monthly payments. Example assumes female age 60 non-smoker. For Producer Use Only.
Living Benefits for Certain Health Conditions
EQUITRUST LIFE PRODUCTS
Underwriting Process
Simplified-Issue Standard to Table 4 – Accept/Reject
Pre-Qualification Chart Health Questions on Application
Phone Interview: Point-of-Sale or Scheduled NO EXAMS OR FLUID
DRAWS
APS at Underwriter Discretion Underwriting Decisions Usually Within 48 Hours
Real-Time Notification of Decisions
For Producer Use Only.
EQUITRUST LIFE PRODUCTS
Point-of-Sale Flow Chart
Agent completes all appropriate application
paperwork with the proposed insured.
Agent and client call out to conduct phone interview.
The first few questions will be directed to the agent
before handing the phone to the insured. Interview runs
about 15 to 20 minutes.
Agent faxes all required paperwork including
application to EquiTrust.
EquiTrust Underwriter accepts or
rejects based on review. Currently at 89% approval.
For Producer Use Only.
Application, MIB, and interview results are sent by us to our underwriter
for review.
EQUITRUST LIFE PRODUCTS
WealthMax Liquidity Options
5% Free Withdrawals – One Per Year, $25 Fee Per Withdrawal – Proportionate Reduction to Death Benefit
Accelerated Death Benefit Rider for Living Benefits
Return of Premium
For Producer Use Only.
EQUITRUST LIFE PRODUCTS
Living Benefit Rider
Automatically included in the Policy at no charge in states where it is approved. One-time administrative fee of $250 if benefit is elected.*
Nursing Care Confinement 100% of Death Benefit over 3 Years or 85% of Death Benefit in Lump Sum
Terminal Illness 95% of Death Benefit in Lump Sum
Chronic Care 100% of Death Benefit over 5 Years or 75% of Death Benefit in Lump Sum
*Rider provisions and availability may vary by state. For Producer Use Only.
WealthMax Bonus Life Standard Features:
EQUITRUST LIFE PRODUCTS
WealthMax Bonus Life
Issue Ages 50-85 (No backdating to save age)
Single Premium – Min: $10,000/Max: $750,000
Guaranteed Death Benefit to Age 121 10-Year Declining Surrender Charge Schedule
Index and Fixed Accounts Available 12% Premium Bonus Added to Accumulation Value Immediately Return of Premium Guarantee
Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Return of Premium is net of any prior partial withdrawals and any outstanding loan balance. Policy issued on Contract Form Series ICC11-ETL-IUL-2000(04-11). Policy and riders may not be available in all states and may vary by state. For Producer Use Only.
2-Year Average Cap Index
3.80%
3.25% Cap
1-Year Point-to-Point Cap Index
3.80%
5.90%
6.40%
11.90%
EQUITRUST LIFE PRODUCTS
WealthMax Bonus Life Rates
8.50% Cap
No Cap
1-Year Interest
1-Year Monthly Cap Index
Account Options Cap Rates* Illustrated Rates
*Current rates, effective May 1, 2014. For Producer Use Only.
WEALTHMAX BONUS LIFE
Excellent Commissions
Ages 50-75
9.0% Ages 76-80
8.5% Ages 81-85
6.5%
For Producer Use Only.
WEALTHMAX BONUS LIFE
Client asks, “remind me again what this product offers me?”
Living Benefits
Return of Premium
For Producer Use Only.
Guaranteed Death Benefit
WEALTHMAX BONUS LIFE
WealthMax Bonus Life Scenario
Non-Smoker | Age 60 | $50,000 in a CD earning 2%
Betty Objective:
Concerns:
Options:
Leave this money to her two grandchildren when she dies
Potential for health-related expenses during her lifetime, such as medical costs or nursing home care
• Leave the money in a CD • Transfer it to an annuity, at 3% • Purchase a WealthMax Bonus Life policy
For Producer Use Only.
WEALTHMAX BONUS LIFE
Death Benefit Comparison
$180,000 –
$160,000 –
$140,000 –
$120,000 –
$100,000 –
$80,000 –
$60,000 –
$40,000 –
$20,000 –
$0 – Immediate
Value At 10 Years
At 20 Years
Annuity Death Benefit CD1
WealthMax Bonus Life Death Benefit Guaranteed2
WealthMax Bonus Life Death Benefit Non- Guaranteed2,3
$50,000 $50,000
$103,500
$103,500 $103,500
$57,884 $62,381
$136,271
$161,088
$79,020 $67,494
1Assuming a 28% tax bracket. Values assume CD value less all taxes paid in prior years. Actual CD death benefit will be current CD amount less income tax withheld in year of death. 2Single Premium Life is an insurance product and is not FDIC insured. 3Based on a 6% illustrated rate. The values shown are non-guaranteed and may not be presented to a client without a compliant illustration. The policy must be in force at the time of death to pay a death benefit. The death benefit will be reduced by any outstanding loan balance at the time of death. The death benefit is also reduced by any payment of Accelerated Death Benefits or partial withdrawals. Neither the Company nor its agents give tax, accounting or legal advice; please consult your professional advisors in theses areas. Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. For Producer Use Only.
WEALTHMAX BONUS LIFE
Death Benefit Comparison
Assume Betty needs to access funds to help pay for a terminal illness, nursing care confinement or chronic illness.
$98,075 income tax-free
$87,725 income tax-free
lump sum — or —
$2,868/mo for 3 Years
Nursing Home Confinement Chronic Illness Terminal Illness
$77,375 income tax-free
lump sum — or —
$1,720/mo for 5 Years
Before electing any benefits, clients should contact their tax advisor regarding taxability of living benefits. Neither the Company nor its agents give tax, accounting or legal advice; please consult your professional advisors in theses areas. For Producer Use Only.
WEALTHMAX BONUS LIFE
What if Betty Changes Her Mind?
Fortunately there’s a Return of Premium Guarantee!
For Producer Use Only.
LIVE ON!
Guaranteed Income, For Life! Income Planning
The highly competitive Income For Life rider is available on all EquiTrust index annuties!
Guarantees Lifetime Income Based on 6.50% Accumulation For Up to 15 Years
Annual Fee 0.75% calculated off Accumulation Value and taken from Accumulation Value only
“Benefit Base” is a term that applies only under the Income For Life rider. The contract accumulation value grows as a separate value and has an annual 0.50% rider fee. Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Neither the company nor its agents give tax, accounting or legal advice. Consult your professional advisors in these areas. Income rider issued on Form Series ET-IBR(06-08). For Producer Use Only.
2% of Accumulation Value Beginning of Years 2, 3 and 4
6% of Premiums Year 1
MarketTwelve Bonus Index Product Features:
12% Bonus Over 3 Years
SINGLE PREMIUM FIXED INDEXED ANNUITY
MarketTwelve Bonus Index
8.5% MGA Commission
Contract issued on Form Series ET-MPP-2000(02-05) with Rider ET-AVBR(06-09). For Producer Use Only.
ILLUSTRATION
Bonuses Are Included in the Benefit Base
Illustration: Benefit Base Growth for MarketTwelve Bonus
When the 12% Bonus is combined with the 6.5% Income For Life rollup rate, the Benefit Base grows at an attractive rate.
The higher the Benefit Base, the greater the withdrawal amount.
After 10 Years $211,156
Year-End Benefit Base Growth
Percentage Growth
$125,083
$154,118
$135,877
$133,213
$122,631
$115,147
$112,890
$106,000
$100,000
111.1%
54.1%
35.9%
25.1%
15.1%
After 5 Years
2% Accum Bonus $2,664
6.5% Rollup Rate: $8,130
2% Accum Bonus $2,452
6.5% Rollup Rate $7,484
2% Accum Bonus $2,257
6.5% Rollup Rate: $6,890
6% Premium Bonus: $6,000
Betty’s IRA at Age 60
3 Yrs, 1 Day
2 Yrs, 1 Day
1 Yr, 1 Day
At Issue
“Benefit Base” is a term that applies only under the Income For Life rider. The contract accumulation value grows as a separate value and has an annual 0.75% rider fee. Surrender of the contract may be subject to Surrender Charge or Market Value Adjustment. Withdrawals before age 59 ½ may result in a 10% IRS penalty tax. Withdrawals do not participate in index growth. Contract issued on Form Series ET-MPP-2000(02-05) with Rider ET-AVBR-06-09. For Producer Use Only.
Betty turns on her income rider at age 70 she locks in an annual payment of $11,614 or $968 monthly for the rest of her lifetime.
LEAVE ON!
Achieve Wealth-Transfer Goals!
Legacy Creation
Access to Cash
Medical Expenses
WealthMax to increase the value of your clients estate!
Provide an income-tax free legacy to heirs
ROP Guarantee
Accelerated death benefits for certain health conditions
Guarantees subject to the claims-paying ability of EquiTrust Life Insurance Company. Neither the company nor its agents give tax, accounting or legal advice. Consult your professional advisors in these areas. Return of Premium is net of any prior partial withdrawals and any outstanding loan balance. Issuance of the policy may depend on answers to the health questions. Policies issued on Form Series ICC11-ETL-IUL-2000(04-11) and ICC11-ETL-ISWL-2000(01-10). Policies and riders may not be available in all states and may vary by state. For Producer Use Only.
SALES TOOLS
WealthMax Bonus Life Showbook
Support your WealthMax Bonus Life sales with the EquiTrust WealthMax Showbooks featuring product information, financial comparisons and hypothetical examples.
What’s Inside:
Product Positioning Information
Life Product Information
Hypothetical Examples
Market Comparisons
For Producer Use Only.
For Producer Use Only.
Thank you!