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GETTING STARTED WITH LFM Welcome to the Professional’s Approach to Indexed Annuities Presented by: LFM Fixed Strategies Insurance Services Florian Spinello.

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Presentation on theme: "GETTING STARTED WITH LFM Welcome to the Professional’s Approach to Indexed Annuities Presented by: LFM Fixed Strategies Insurance Services Florian Spinello."— Presentation transcript:

1 GETTING STARTED WITH LFM Welcome to the Professional’s Approach to Indexed Annuities Presented by: LFM Fixed Strategies Insurance Services Florian Spinello & Lauren Carrasco This material is intended to provide general education and is not intended to provide legal or tax advice. It is recommended that decisions be made only after consultation with qualified financial, tax and legal professionals about your specific financial situation.

2 Outline  Introduction  Who is LFM  Why LFM  How can LFM accelerate my business?  What are Fixed Annuity & Life Insurance Products?  Key questions to ask everyone.  What do I say on my 1 st client appointment?  What is the 1st step to growing my Insurance & Retirement Planning Portfolio?  Licensing & Appointment Paperwork FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

3 Who Is LFM Fixed Strategies?  LFM is a National Marketing Organization for Fixed & Indexed Annuities and Life Insurance Products  Created by Experienced Producing Registered Representatives / Agents  Committed to Helping Financial Professionals Address the Growing Demand for Retirement Planning and Income Strategies FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

4 Why LFM Fixed Strategies?  Experience – We have a team of experienced consultants and seasoned producers to give you the guidance and expertise in your business  Innovation – We offer innovative sales strategies and unique business opportunities to take you to the next level with your practice  Dedication – Our support staff is ready to help you submit, track and get you paid on your business, in addition to providing a sales team that is familiar with your company philosophy FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

5 What Carriers does LFM Represent? FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

6 Annuities 101 FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

7 Defining an Annuity  Annuities  A long-term savings vehicle that is issued by an insurance company.  Benefits  Tax-deferred accumulation  Interest returns or growth  Guaranteed income for life FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

8 Annuities  Two Phases  Accumulation Phase which uses a Deferred Annuity  Distribution Phase which uses an Immediate Annuity  IRS Regulations  Any withdrawals taken prior to age 59 1/2 may be subject to penalties and taxes  Policy owners are required to take withdrawals by age 70 1/2 FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

9 Annuity Features  Guarantees  Guarantees are based on the claims paying ability of the underlying insurance company; ie:  Interest rate floors & ceilings  Minimum premiums  Participation Rate  Industry allocation  Crediting Methods FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

10 Annuity Surrender Charges  Annuities operate on a surrender charge schedule  Which means fees will be charged if the annuity is surrendered prior to the end of its term  *Industry Standard: usually 10% is surrender charge free after the first year  No Longer than 10 years FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

11 Types of Annuities FIXED ANNUITIES generally offer a principal guarantee with a fixed interest return for a specific period of time. INDEXED ANNUITIES offer a principal guarantee and interest return that is linked to the upside performance of a major stock market index; such as the S&P 500. Therefore the client is able to share in the market's upside while not being exposed to market losses. VARIABLE ANNUITIES offer direct market participation through a selection of mutual fund sub- accounts. However, the investor is taking on the full risks associated with the stock and bond markets with the possibility of market losses. FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

12 Key Questions to Ask to Everyone FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

13 Phrases to write down and MEMORIZE  What things would you like to do or where would you like to go during retirement? (write down their answers somewhere so you remember)  Thinking of all those interests and goals, are you comfortable with the amount of money you have put aside for your retirement goals?  Do you have a retirement income plan?  Great, I’m going to send you some tools to learn more about your goals. If I give these to you, what time can I pick them up tomorrow? FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

14 Closing a Case with LFM What do I ask on my 1 st appointment? FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

15 Step 1  First Appointment with your Client  Explain the 2-3 appointment process  1 st Appointment - Gather Info  2 nd Appointment - Present solution/Close Case  3 rd Appointment - Close case  Gather information  LFM Tools  What are your clients objectives?  Set the next appointment with your client no more than a week later FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

16 Step 2  Strategize your case  Before your next appointment with your client  Get together with your up line  Send LFM an illustration request form  Prepare your documents  Train with LFM to close the case FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

17 Step 3  Second Appointment with your Client  Review client objectives  Present recommendations based on their objectives  Close case/fill out product application (it should already be highlighted)  If the client needs to think about it, set the next appointment for 2-3 days later FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

18 Step 4  Third Appointment with Client  If necessary bring a LFM Team member with you to help close the deal  Make a copy for yourself, and the client  Ask for a referral! FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

19 Step 5  Final Step  Turn in the complete original application to LFM  Complete Application  Product application with all signatures & any applicable transfer paperwork  Copy of clients drivers license  Client check or copy of clients current statement to be rolled over (current = no more than 3 months old) FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

20 What is my 1 st step to get started?  Become Life Licensed – 32 hr. class or 52 hr. class  Fill out the appointment paperwork so that all business you do is ready to go  Fill out the LFM tools yourself so you understand how they work  Keep a blank hard copy on you in the field and a soft copy in your when you need to send it to a client  Contact the LFM whenever you have a question and utilize us as your experts START TALKING WITH PEOPLE! FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

21 Lets do some business! Thank You! FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.


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