Blog #79: Insurance Sales to Clients with IRAs

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Many producers tell me that they don’t utilize charitable giving concepts in their wealth planning.  This is likely because they don’t ask clients about their charitable goals.

“Do you have a favorite charitable cause?” is such a great question to include in your fact-finding.  “What charities do you favor?” is the obvious follow-up question for those with charitable motivations.

You will probably find that a significant majority of your prospects and clients do have one or more favorite charitable causes, and the answers to the two questions are valuable to tuck away for possible use as you pursue suitable wealth planning strategies.

One of the simplest yet very dramatic wealth planning concepts involves those who have IRAs and are typically age 50 and older.  Steve Savant and Don Prehn have produced an excellent video on this subject that can help you understand the power of a concept called Charitable IRA, an irresistible planning strategy that features unique insurance sales.

You can view their 8-minute video below which examines this concept for Harold and Martha Fontaine, age 65 and 60, who have a current net worth of a little over $5,500,000 which includes an IRA with a value of $1,000,000.  (The strategy works for an IRA of any amount.)

If you’d like more background and details on the impact of this approach on the Fontaine’s long-range net worth, wealth to heirs, and results for their favorite charity, review my Blog #55: Charitable IRA.

InsMark’s Digital Workbook Files

If you would like some help creating customized versions of the presentations in this Blog for your clients, watch the video below on how to download and use InsMark’s Digital Workbook Files.

Note:  If you are viewing this on a cell phone or tablet, the downloaded Workbook file won’t launch in your InsMark System.  Please forward the Workbook where you can launch it on your PC where your InsMark System(s) are installed.

Licensing

To license Wealthy and Wise, contact Julie Nayeri at julien@insmark.com or 888-InsMark (467-6275).  Institutional inquiries should be directed to David Grant, Senior Vice President – Sales, at dag@insmark.com or (925) 543-0513.

InsMark’s Referral Resources
(Put our Illustration Experts to Work for Your Practice)

We created Referral Resources to deliver a “do-it-for-me” illustration service in a way that makes sense for your practice. You can utilize your choice of insurance company, there is no commission split, and you don’t have to change any current relationships. They are very familiar with running InsMark software.

Please mention my name when you talk to a Referral Resource as they have promised to take special care of my readers. My only request is this: if a Referral Resource helps you get the sale, place at least that case through them; otherwise, you will be taking unfair advantage of their generous offer to InsMark licensees.

Save time and get results with any InsMark illustration.  Contact:

• Ben Nevejans, President of LifePro Financial Services in San Diego, CA.

Joint Interviews

If you want or need help from a qualified producer for joint interviews with any InsMark illustration and are willing to share the case, email us at bob@robert-b-ritter-jr.com, and we will provide you with recommendations.

Testimonials:

“Major cases we are developing have all moved along successfully because of the sublime simplicity and communication capability of Wealthy and Wise.  I guarantee that the proper use of this tool will dramatically raise the professional and personal self-image of any associate who dares to take the time to understand it…”
Phillip Barnhill, CLU, InsMark Gold Power Producer®, Minnetonka, MN

“InsMark is an absolutely mind blowing experience.”
Larry Gustafson, InsMark Platinum Power Producer®, Denver, CO

More Recent Blogs:

Blog #78: More on How to Smite a Termite

Blog #77: Integrated Planning for College and Retirement

Blog #76: Smart Use of Term Coverage for Funding College Costs

Blog #75: Golden Handcuffs for Sam Hunt

Blog #74: Long-Term Care – Insure or Self-Insure

 

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Robert B. Ritter, Jr. Blog Archive