This week we wanted to talk about the leverage, tax advantage and guarantees of Single Premium Life. How can you use it to increase value to your clients and increase your income?
It is well known that the vast majority of annuity owners rarely, if ever, make withdrawals from their annuities. Most leave the money to heirs. While annuities may be great accumulation, tax-deferral, or income tools, annuities are not the most tax-efficient resource at your disposal.
The fact is life insurance leverages money income-tax-free. The problem for most agents has always been that it also involves underwriting hassles and delays and clients who are reluctant to undergo a long invasive process.
In this day there are virtually limitless case design possibilities when it comes to life insurance – with all the carriers and products available. What we want to focus on with you today are life contracts specially designed for re-positioning of assets, to maximize leverage, illness and tax benefits while still remaining transactional enough to get placed quickly and efficiently. [Read more…]