Month: November 2013 | Bob Ritter's Blog, ideas for financial service professionals

(Presentations were created using the InsMark Illustration System and Wealthy and Wise®.)

Getting Started with InsMark Training Video

Let’s Get Down to Business - The Advanced Insurance Sales Series - Retirement Product Options

Steve interviews Bob Ritter, the architect of the InsMark® Illustration System & Wealthy and Wise®, the two most popular presentation software programs in the life insurance industry. Steve and Bob walk through taxable accounts versus tax advantaged life insurance and answer the age old question, “Should I buy term and invest the difference?” The answer is in the mathematics.

Click here for Bob’s blog named “CheckMate Selling®” where comparisons to alternatives are discussed and illustrated.

If you are not currently licensed for the InsMark Illustration System and/or Wealthy and Wise, click here to take advantage of InsMark’s Free Offer to Bob’s Blog subscribers to try them out. If you are licensed for either or both Systems and would like to attend forthcoming webinars on either System, please email Julie Nayeri at julien@insmark.com and ask to be included.

Let’s Get Down to Business - The Advanced Insurance Sales Series - Executive Bonus Plans

Section 162 Executive Bonus Plans have been around for decades. Steve and Bob will walk you through seven variations of this strategy and discuss early policy loan access to pay the taxes due for the executive. The economic leverage can be significant for clients who understand market risk.

Click here for Bob’s blog named “Anyone Want a Free Dog?” where early policy loans that fund the executive’s income tax on an Executive Bonus Plan are discussed and illustrated. (You’ll also meet Max, the InsMark mascot.)

Let’s Get Down to Business - The Advanced Insurance Sales Series - Good Logic vs. Bad Logic™

Bob’s trademark mantra is the three staging items of ultimate income: accumulation, distribution and the sequential asset prioritization. Sequential asset prioritization can be so significant to a senior’s retirement that it is now standard training in Wealthy and Wise boot camp. Steve and Bob dramatize the financial impact of income and wealth transfer to the next generation.

Click here for an 8 minute video narrated by Bob Ritter for a more detailed examination of how Good Logic vs. Bad Logic™ works for Simon and Ann Scott.

Let’s Get Down to Business - The Advanced Insurance Sales Series - IRAs, IRA Conversions & Roth IRAs

Traditional IRA conversions to Roth IRAs have slowed in recent years until consumers became aware of the taxation of their Social Security benefits which is affected by distributions from IRAs, but not Roth IRAs. Steve and Bob explore the delay of Social Security and qualified plans until age 70 and weigh the economic benefit over retirement years in converting traditional IRAs to Roth IRAs. You’ll learn that sometimes a tax payment will be perceived as a terrific investment.

Click here for a short PowerPoint presentation entitled “Inherited IRAs vs. Inherited Roth IRAs for Robert Scott, Son of Simon and Ann Scott” for a startling look at how Simon and Ann’s decision to convert an IRA to a Roth IRA means millions more in net worth for themselves and tens of millions more after tax dollars for their son.

Let’s Get Down to Business - The Advanced Insurance Sales Series - LTC: To Insure or Self Insure

In some cases, retirement models are showing that paying for long term care insurance will reduce the overall income for seniors as well as the amount of assets transferred to the next generation. But, now that human longevity has become the number one risk in retirement, the odds are almost certain that baby boomer seniors will use policy benefits for assisted living at home. Steve and Bob do the math in their exposé on the need for long term care.

Click here for a PowerPoint presentation entitled “How to Prove Which of Your Clients Should Purchase Long Term Care Insurance”. It is a Case Study with several comparisons including the impact of rated policies.

Steve Savant’s Money, the Name of the Game - The Top Four Consumer Concerns

Note: The final video below is a composite of four segments from the previous videos. Steve Savant and Bob Ritter constructed this one as though a prospective client is viewing it.

All over the Internet, there is no other economic subject that polarizes advisers across the country more than “buy term and invest the difference” versus a permanent policy. Next to that is the ultimate retirement question of what assets should be used in retirement and in what sequence should they be used. Running a close third is whether you should convert traditional IRAs to Roth IRAs before retirement to maximize income during your golden years. And lastly, whether or not to self-insure against extended care costs or purchase a long term care insurance policy. Steve takes these questions to Bob Ritter, the architect of the most popular adviser planning software, for answers to these critical consumer questions.