Tuesday Tips – 05/12/2014


Minnesota Life Introducing BDA
LSW decreased rates on several of their annuities June 7th. Call today to get an updated rate sheet.

ANICO Changes Living Benefits
Beginning May 19th Minnesota Life will offer a Benefit Distribution Agreement that can be attached to new term policies. The BDA allows the client to select an income stream for the beneficiaries which not only spreads out the death benefit how the insured wants but also reduces the premium on the policy. Call today for details.

Fidelity & Guaranty Commission Bonus
F&G is currently offering a .50bps commission bonus on all Performance Pro annuity sales. This offer is only for a limited time so make sure to check for state availability and details.

Sales Opportunity

IRA Tax Trap
Inevitably the IRS wants to collect taxes from IRA $ whether it’s from the IRA owner or the beneficiaries. I’ve attached a great presentation that will show you how to either offset beneficiary taxation of an IRA or completely eliminate beneficiary taxation. I also have a powerpoint presentation on these concepts as well just call for details.

Industry News

Interesting Statisics
By the year 2028 (i.e., 14 years in the future), government expenditures for
Social Security, Medicare, Medicaid and net interest expense would consume
all projected federal tax receipts, i.e., the funds needed for all other
federal expenditures will be borrowed (source: Government Accountability
Office). An estimated 9,100 Americans will turn 65 years old every day during 2014
and will be eligible for Medicare for the first time, a total of 3.32
million new Medicare participants this year. Between 9,100 to as many as
11,400 daily birthdays of folks reaching age 65 are projected to be repeated
each day through the end of 2029 (source: Government Accountability Office).

Hot Rates

Personal Retirement Choice Annuity
Phoenix has introduced a new 12yr bonus annuity. The product offers a 12% bonus if no income rider is elected and a 15% bonus if the client does add the income rider. In addition to this the product offers several index options and writes to age 80. Call today for details.

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About the author

Legacy Financial Partners - Legacy Financial Partners is an independent and full service Life Insurance and Annuity FMO that provides specific marketing solutions to help their clients succeed. Using dynamic tactics, an extensive support network and progressive marketing options, Legacy Financial Partners provides unique and specific development strategies to their business partners.

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