Sell clients on the idea that they can have tax-free income from their life insurance contract. Tell them that when they are ready to retire, they are going to have to pay taxes on their pension, and ask, "Wouldn't it be nice to have something you don't have to pay taxes on?"
Companies have universal life policies that allow clients to borrow the cash value and almost have a zero loan on a 1 percent difference between what they are earning and what they are getting.
If the client has $200,000, he might get $15,000 a year for the rest of his life from age 65 to 95. And he pays no taxes on that amount.
Tell him that he is looking at a minimum insurance expense but a maximum benefit at the end.
This sales tip is excerpted from the book, Advisor Today’s Sizzling Sales Ideas. Click here to order your copy today.