Contrary to what you may think, annuities aren’t complicated nor are they unattractive to clients.
In fact, this false thinking could be preventing you from earning easy life insurance sales revenue.
Once you know why you should be selling annuities, you’ll then be motivated to let all your clients and prospects know about their benefits.
Watch this video to find out why clients will want to know about annuities and how they can fuel your life insurance sales. After the video, check out the transcript!
Sell Annuities to Increase Life Insurance Sales
If you're not selling annuities, you should take another look.
For some reason, a lot of insurance producers don't sell annuities because they either think they're too complicated, or they don't believe their clients would ever buy one. That's not reality. Let me share three top benefits of a fixed annuity, and then I'll give you a sales idea that you could implement right away.
The first benefit of an annuity is the power of tax deferral and triple compounding. That's right – triple compounding annuities pay interest on your principal, they pay interest on the interest you earn, and interest on the taxes you would have paid if you were an investment that was being taxed annually.
The second benefit of an annuity: It's the only financial tool that can guarantee a lifetime income. And, in the event of an emergency, an annuity allows you to access some of the account value with penalty-free withdrawals.
Finally, the third. It's a convenient and safe way to transfer wealth to one's heirs. Annuities avoid probate, which is very important because no one wants a court to decide who should inherit their financial legacy.
Are you getting interested?
Here's a simple and effective sales idea. A lot of people who have the need for life insurance don't necessarily like the idea of paying premiums forever. If those folks happen to have liquid assets, you can show them how to leverage those funds using an annuity to pay for the life insurance.
With a single premium immediate annuity, also known as the SPIA, you can create a guaranteed annual stream of payments that are equal to the proposed life insurance premium. When your client passes away, the death benefit paid to the beneficiary will more than make up for the amount that was paid to purchase the annuity. This is a great way to fund life insurance without having to write checks every year.
So there you have it: three great reasons why you should sell annuities.
If you'd like more information, call the number you see on the screen and ask our annuity partner for a quote. Who knows – you might just sell one!