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New Reasons for Annual Valuations and Life Settlements

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Why do Financial Advisors and Wealth Managers Perform Annual Valuations and Portfolio Reviews?

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²  To identify underperforming investments & uncover client concerns

²  To fulfill a commitment to provide exceptional service

²  Performing an annual review builds trust & loyalty

²  Providing concierge level service increases referrals and grows your business

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New Reason — Most Important

Clients are demanding advisors anticipate their needs and implement strategies that prepare them “financially” for a longer life span.

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Health and Financial Issues Top of Mind

Ipsos MediaCT 2013 Boomers/Seniors Research Study; B1

Boomer/Seniors concerned with health and wealth

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Boomers/Seniors Search the Internet

82% OF BOOMERS AND SENIORS USE A SEARCH ENGINE TO GATHER INFORMATION ON A TOPIC OF INTEREST

Ipsos MediaCT 2013 Boomers/Seniors Research Study.

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The internet is reaching your customers directly and building a trusted relationship.

Online search is seen as relevant, familiar, and trustworthy.

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Banking and Financial Services Industry — Least Trusted

Edelman Trustbarometer: 2013 Annual Global Study

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Mixed Messages and Limited Product Knowledge

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How Do We Instill Greater Trust?

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Advisor competency emerged as the single largest service priority among HNWIs, with 67.5% rating it as most important.

Capgemini, RBC Wealth Management, and Scorpio Partnership: HNW Insights Survey 2013

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Today’s Financial Advisor Must Take on the Role of A Wealth Manager

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²  Build financial relationships based on a bond of trust and the ability to deliver client-focused solutions and options.

²  Have a wider scope and greater in-depth knowledge of long-term care and wealth preservation products.

²  Forge relationships with respected teams of specialists to provide well-rounded financial advice.

²  Offer better reporting, annual valuations, and more frequent updates to keep clients informed.

Wealth Managers Strive To Achieve Client-Centric Competencies

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Most Are Still Unaware of Life Insurance

2012 LIMRA study, “Fewer Pre-Retirees Feel Prepared for Retirement Than in 2010”

96% 85%

OF ESTATE PLANNING POLICIES LAPSE WITHIN 8 YEARS OF ALL UL AND TERM POLICIES NEVER RESULT IN A DEATH CLAIM

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LARRY GRILL ET AL V. LINCOLN NATIONAL LIFE INSURANCE COMPANY FAILURE-TO-DISCLOSE: California couple, trustees of the Grills’ estate, filed a lawsuit in California Federal District alleging that they lost money because an agent of Lincoln National Life Insurance Co. failed to inform them of the life settlement option.

Help Your Clients Avoid Misdirection

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Client-Focused Solutions

and Options

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TERM TO PERM

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TERM with Conversion Rider

For seniors with policies that are nearing the end of their term, life settlement providers will evaluate those policies and even provide illustrations that include the cost for conversion.    Seniors can convert the term policies to any/all products that the carrier will allow and perform a life settlement in one, multi-faceted transaction. NO out of pocket expenses!

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Retained Death Benefit

A retained death benefit allows policy owner to sell the policy (life settlement) and keep a portion of the death benefit, without having to pay premiums.  

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Irrevocable Life Insurance Trust

An irrevocable life insurance trust (ILIT) is an estate planning tool generally used to provide liquidity that may be used to pay off estate taxes. It does this by removing the proceeds from life insurance policies outside of the insured’s taxable estate.  

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Pre-Qualify Clients for A Life Settlement

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Before you commit, have your client’s life insurance policy evaluated for a life settlement and forego the lengthy application process. With a LifePASS™ analysis in hand, you and your client can determine if a life settlement is an appropriate solution.

LifePASS™ (Policy Assessment Summary Service)

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Pre-Qualify Clients With LifePASS™

²  STEP 1 – Call The Lifeline Program, speak to an Account Manager, and answer ‘basic’ questions about your client.

²  STEP 2 – Submit a current in-force maturity illustration by email or direct LifePASS online portal.

²  STEP 3 – The policy is analyzed and valuated.

Receive your LifePASS™ within 48 hours to review with your client.

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General Pricing Guidelines and Parameters

On average, entire process can take between 60 and 120 days. Based on Lifeline Program® guidelines.

²  Age of insured: 70+

²  LE: 24 months – 180 months •  Based on verifiable clinical diagnoses

²  Policy face amount: $250K – $10M •  Policies below $250K and above $10M will be reviewed on

case-by-case basis

²  Qualified policies include: individual or survivorship (even if both insureds are alive) universal, convertible term, whole life and group (but must be convertible).

²  Must have “A-” or better carrier rating from A.M. Best

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Clients Need Knowledgeable and Trustworthy Advisors

Highly intelligent and affluent retirees can still fall prey to financial predators.

Now, more than ever, advisors are called upon to make sensible financial decisions on behalf of their aging clients and help them identify safe Retirement Funding Options.

http://online.wsj.com/news/articles/SB10001424052702304185104579435470263886360

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A structured service model that generates long-term security for the client, ultimately creates life long income for the advisor with a foundation for an intergenerational legacy.

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This analysis has been provided at the request of the Society of Financial Service Professionals. All material contained herein, including proposed terms and conditions are for discussion purposes only. Finalized terms and conditions are subject to further discussion and negotiation. This information may or may not be sufficient information for those individuals having any extraordinary or extenuating circumstances and therefore, we make no warranties, expressed or implied, that the information given orally in this workshop or contained herein or in an email constitutes an offer or an invitation to submit an application. Please note that any and all licensing information disseminated or provided by Wm Page & Associates, Inc. d/b/a The Lifeline Program (“Lifeline”) whether given verbally, contained herein or sent via email to anyone receiving such information was supplied in good faith based on information we consider to be reliable. Further, Lifeline does not represent or warrant that it is accurate or complete, or that it should be relied upon as such and we are not responsible for any errors or omissions that may occur.     

Disclaimer

This document is intended for financial professionals only.

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