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WELCOME TO OUR WEBINAR Welcome To Our Webinar Funeral and Estate Trusts We will be starting the webinar in a few minutes Michael K. O’Dell Delco Brokerage.

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Presentation on theme: "WELCOME TO OUR WEBINAR Welcome To Our Webinar Funeral and Estate Trusts We will be starting the webinar in a few minutes Michael K. O’Dell Delco Brokerage."— Presentation transcript:

1 WELCOME TO OUR WEBINAR Welcome To Our Webinar Funeral and Estate Trusts We will be starting the webinar in a few minutes Michael K. O’Dell Delco Brokerage National Sales Office Take It From Me This is a Great Webinar… Delco Brokerage Has a Great Offer For You! Have me and my band play at your next client appreciation event. Paul from the Wings Agency

2 Business is up 348% from last year! It doesn’t get any easier than this Start selling funeral and Estate trusts American Benefits, Ltd. American Benefits, Ltd.

3 An Exciting Opportunity Learn How to Make an extra 7-10K monthly with the funeral and estate trust. It’s easy and simple to do! Funeral trust and estate trust sales are up over 348% from last year!

4 Our Webinar Speaker Today National News…Funeral trusts and estate trusts are an excellent opportunity to help your clients protect assets. Don’t wait any longer…otherwise someone will sell funeral and estate trusts to your clients. Michael K. O’Dell from the National Sales Office will be conducting this seminar on behalf of Delco Brokerage - Michael has been recognized nationally for the Funeral and Estate Trust.

5 Dale Froehlich – Agent Selling the funeral trust and the estate trust is easy and makes common sense to my clients. This has added an extra 25K or more monthly to my income! Dale Froehlich $25,000 – commission Monthly Income in Dec. Call American Benefit, Ltd. to get contracted and supplies for this great opportunity – selling the funeral and estate trusts ask for Ann Shoop Michael O’Dell – National Sales Office

6 I sent out annual review letters to my clients and I was shocked at the response. The funeral trust is perfect for my clients since 93% of them don’t have nursing home insurance. Plus, the estate trust is a great way to protect an inheritance! Rich Ledzki Financial Planner Financial Planner Mail An Annual Review Letter To Your Clients

7 Karl Dovnik, Jr. – Elder Law Attorney These Products…the funeral and estate trusts are perfect to help your clients protect funeral funds and an inheritance for their family by planning in advance. This is great planning for all of your senior clients. After 28 years in practice, these products help seniors to protect assets if they were to go into a nursing home. You are missing the boat if you are not selling these products. Karl Dovnik, Jr. Elder Law Attorney

8 Top Agent last month makes over 40K selling the funeral and estate trusts…Dan B. – Cleveland, Ohio Dan Wrote (5) sales last month and made over 40K. (5) Estate $50,000 each = $250,000 premium Commission rate X $250,000 = $40, This Opportunity is for Real. Get Contracted after the Webinar…

9 What is a Funeral Trust ? Single Premium Life policy Irrevocable funeral trust Life Insurance Policy is assigned to Irrevocable funeral trust Single Premium LifeSingle Premium Life Issue ages 0-99Issue ages 0-99 Guaranteed IssueGuaranteed Issue No underwritingNo underwriting Commissions up to 16%Commissions up to 16% Medicaid exempt once assigned to trustMedicaid exempt once assigned to trust Premiums $1000- $15,000Premiums $1000- $15,000 Provided by insurance CompanyProvided by insurance Company Medicaid exemptMedicaid exempt Not subject to five year look-backNot subject to five year look-back Strictly to pay for funeral expensesStrictly to pay for funeral expenses The Trust which is managed by the insurance company will pay benefits directly to funeral home that actually provides the service within 48 hours of receiving claim. Excess funds to estate or family.

10 A NURSING HOME CAN WIPE-OUT A LIFETIME OF SAVINGS ! 93% OF SENIORS OVER 65, DON’T HAVE NURSING HOME INSURANCE ! The Issues

11 Without Planning, Your Clients Could Lose Everything ! LOOK AT THE FACTS ! AVERAGE COST- $ –NURSING HOME 50% OF US WILL ENTER A NURSING HOME. 70% OF SINGLES WILL REACH POVERTY WITHIN 33 WEEKS. 7 0UT OF 10 COUPLES WILL HAVE ONE SPOUSE ENTER A NURSING HOME. A NEW CASE OF DEMENTIA ARISES EVERY 7 SECONDS. The planning that you do today…could determine if your children and grandchildren inherit anything from you. Asset Protection is possible. Advance Planning Can Protect Assets ! Let’s look at the New Medicaid Rules

12 Deficit Reduction Act for 2005 DIVESTMENTS AND GIFTS EXTENDING THE THREE YEAR TRANSFER RULE ON ASSETS TO A FIVE YEAR RULE. The Old Rule was from the date of transfer, the new rule is from the date of Medicaid Application.

13 Medicaid Eligibility Rules Some states may vary on these Medicaid eligibility rules Single person Assets - $ Life Policy - $ Car - $ Personal possessions Wedding rings Funeral trust Income - $ Spousal Impoverishment Rules for married couples Assets - $50,000 – 109, Life Policy - $ 1, Car – Unlimited Value Home - $ 500,000 Equity Personal Possessions Funeral Trust for both spouses Income - $ Monthly

14 SINCE ONLY $ IS EXEMPT FOR LIFE INSURANCE…THIS IS AN ISSUE Medicaid says only a $ life insurance policy is exempt. Any policy over that amount in cash values is a countable asset and would have to be spent down for Medicaid Eligibility. Example: $10, Policy – (Paid Up) 9, Cash Value SOLUTION: 1035 Exchange to Funeral Trust. (Tax Free) – Now it is Protected. Some states may vary on Medicaid Rules, please consult an Elder Law Attorney in your state.

15 Funeral Trust Planning Dollars put into the Irrevocable Funeral Trust is Exempt. (Client receives fair market value - No Five Year Look-Back Protected from Creditors, Lawyers, Hospitals, Nursing Homes and Medicaid. The last trust available without a look-back. Great Medicaid Planning Tool. The Financial Planner /Insurance Agent can now assist their clients with this pre-planning trust. Medicaid Rules may vary from state to state. You should consult and elder law attorney in your state. This presentation is for illustrative purposes only.

16 FUNERAL TRUST 1.SINGLE PREMIUM LIFE PRODUCT 2.Premiums from $ $15,000 3.ISSUE AGES NO UNDERWRITING – GUARANTEED ISSUED 5.GREAT COMMISSIONS 6.FUNERAL TRUST PROVIDED BY INS. CO. 1.MEDICAID EXEMPT IN MOST STATES EXCHANGES ACCEPTED GREAT FOR PRE-PLANNING AND CRISIS PLANNING

17 Irrevocable Funeral Trust (IFT) - Funded by a single premium life policy. Trust strictly specifies money is to be used for funeral expenses. Life Policy * Not Guaranteed At Death, the trust pays the funeral home directly with excess funds being returned to the estate or family. Death claim - Agent gathers death certificate/bill from funeral home and fills out claim form for family. The Irrevocable Funeral Trust

18 The Easiest Sale You’ll ever make First way to fund a funeral trust Exchange from Old Life Insurance Policies that have a Face Value of over $ $15,000commission Big Money doing 1035 Exchanges

19 The 10% Free Withdrawal To Fund Trust Second way to fund the funeral trust We are just going to move money from your old annuity to the funeral trust. Instant Medicaid Protection

20 Third way to fund the funeral trust CASH Savings Bonds / Stocks Fourth way to fund the funeral trust

21 Your Biggest Competition THE FUNERAL HOME REASONS WHY YOUR CLIENT IS BETTER OFF DOING BUSINESS WITH YOU.  The Funeral Home might go out of business  You might move closer to your children in your old age  The Funeral Home may merge with new owners  You might retire down in Florida Our Funeral Trust doesn’t specify any particular funeral home. This trust can be used with any funeral home at time of death. WE OFFER FLEXIBILITY!

22 Case Study Crisis Case – Client is already in an institution. Example: Age 85 – Female $10,000 remaining in bank acct. Two Choices – Spend $ 8000 on Nursing Home Save $8000 with Funeral Trust YOU CAN USE A POWER OF ATTORNEY IF CLIENT IS UNABLE TO SIGN.

23 FUNERAL COSTS CAN VARY FROM $7000- $12,000 NATIONAL AVERAGE IS $

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25 PACKAGE YOUR PRODUCTS FUNERAL TRUST FOR IRENE SMITH ABC FINANCIAL SERVICES, INC. 123 MAIN STREET ANYTOWN, USA PLANNER – TOM JONES

26 The Family Estate Trust The Irrevocable Estate Trust The Irrevocable Estate Trust This is a single premium life productThis is a single premium life product Estate trust furnished by insurance companyEstate trust furnished by insurance company Issue ages 0-99Issue ages 0-99 HUGE commissionsHUGE commissions Medicaid exempt after 60 monthsMedicaid exempt after 60 months Great Planning tool.Great Planning tool.

27 Mildred’s Story and what happened In 2001, Mildred sold her home for approximatelyIn 2001, Mildred sold her home for approximately $100, and moved into a senior apartment at $100, and moved into a senior apartment at the age of 71. She was in good health. the age of 71. She was in good health. Her income was more than enough for her to payHer income was more than enough for her to pay her bills. She had $2,350 monthly income and her bills. She had $2,350 monthly income and the bills amounted to only $1,465 monthly. the bills amounted to only $1,465 monthly. She did not have long term care and she wasShe did not have long term care and she was concerned about the nursing home wiping out her concerned about the nursing home wiping out her grandchildren and children inheritances. grandchildren and children inheritances. She wanted to leave $50,000 to her children, andShe wanted to leave $50,000 to her children, and she was concerned that a nursing home could she was concerned that a nursing home could wipe out this money before she died. wipe out this money before she died. Her advisor said she should set up an “Estate Trust” withHer advisor said she should set up an “Estate Trust” with the $50,000 and after 60 months passed, this money the $50,000 and after 60 months passed, this money would be protected from the nursing home and Medicaid. would be protected from the nursing home and Medicaid. In addition, her advisor said she should do a Medicaid exempt In addition, her advisor said she should do a Medicaid exempt funeral trust at $ 12,500. funeral trust at $ 12,500. For some reason Mildred never completed the trusts withFor some reason Mildred never completed the trusts with her advisor. her advisor. In January of 2007, Mildred entered a nursing home afterIn January of 2007, Mildred entered a nursing home after a stroke. (*cost of nursing home was $6950 monthly) a stroke. (*cost of nursing home was $6950 monthly) In August of 2009, Mildred applies for Medicaid with onlyIn August of 2009, Mildred applies for Medicaid with only $ left in the bank. $ left in the bank. If Mildred would have followed the advice from her financial planner. Today, she would be on Medicaid with a $50,000 Estate Planning Trust to her family. Now her family has to come up with funeral expenses too! Good Planning Can Protect Assets !

28 The Estate Trust Can Protect Assets The Estate Trust Can Protect Assets $50,000 Estate Trust If Mildred would have planned, she could be in the nursing home and still pass $50,000 to her family. Don’t let your clients become like Mildred. Help them plan now while they are healthy to protect assets.

29 Estate Planning – Estate Planning Trust Worksheet Protecting Assets for our family by using the “Estate Trust” Name of client - _____________________________age - ____ Spouse - _________________________age-____ Address - ___________________________City - _________________State_____Zip -___________ Telephone - _________________________ _____Our Goals are to plan in advance with the “Estate Trust” to protect funds from the nursing home and Medicaid. We realize by planning 60 months in advance with the estate trust, these funds will be Medicaid. We realize by planning 60 months in advance with the estate trust, these funds will be exempt in this irrevocable trust. exempt in this irrevocable trust. _____ These are funds that we definitely want to pass to our children, grandchildren or charity. _____ These are funds that we don’t need to live on or depend on for income. _____ We don’t have long term care insurance. Our Goals planning with the “Family Estate Trust” $ ________ (each) to our grandchildren $____________ - Church $ _________ - other $________ (each) to our children. $____________ - Charity

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32 Existing Clients You already have relationship Do an Annual Review with Each of your customers. The best target age is from Help Your clients up date their accounts at bank with P.O.D.Help Your clients up date their accounts at bank with P.O.D. Review their estate planning and financial documentsReview their estate planning and financial documents CD holders that have CD’s coming due.CD holders that have CD’s coming due. Passbook Savings customersPassbook Savings customers SELL THE FUNERAL TRUST CONCEPT TO THEM.SELL THE FUNERAL TRUST CONCEPT TO THEM.

33 Annual Review Letter

34 Every town has a SENIOR CENTER SENIOR CENTERS ARE ALWAYS LOOKING FOR SPEAKERS AT THEIR LUNCHEONS. ESPECIALLY ON SENIOR ISSUES There are probably 20 Senior Centers within 30 miles of your office. Almost every town has a senior center. They usually meet weekly for a luncheon. Go to each senior center and introduce yourself as a speaker that they might like to have at their up coming meetings. NEVER SELL PRODUCT WHEN YOU SPEAK…TALK CONCEPTS ONLY!

35 CELEBRITY SEMINARS LOOK-A-LIKE – SOUND A LIKE WHEN WAS THE LAST TIME YOU HAD THIS MANY PEOPLE ATTEND YOUR FINANCIAL SEMINAR? THINK OUTSIDE THE BOX WITH YOUR MARKETING Want More Information on the “Las Vegas Show” Call Ann Shoop at American Benefit, Ltd. for details We Specialize in Financial Planning Seminars Celebrity Seminars Travel Nationally

36 How to do a “Las Vegas Show” Seminar? Mail Out “Special Invitations” promoting Your Financial Seminar with the “Las Vegas Show”.Mail Out “Special Invitations” promoting Your Financial Seminar with the “Las Vegas Show”. Put your phone number on the flyer for seniors to call to reserve seats.Put your phone number on the flyer for seniors to call to reserve seats. Send them an admission ticket for this seminar with “Sir Paul’s picture on it”Send them an admission ticket for this seminar with “Sir Paul’s picture on it” Schedule your seminar to begin at 1pm and to end at 4:30pm.Schedule your seminar to begin at 1pm and to end at 4:30pm. At 1pm – You start your regular financial seminar.At 1pm – You start your regular financial seminar. Finish your seminar at 2:30pm.Finish your seminar at 2:30pm. Take a 10 minute breakTake a 10 minute break 2:45PM – The “Las Vegas Show” begins2:45PM – The “Las Vegas Show” begins 4:15PM - End of your event.4:15PM - End of your event. NEVER BUY DINNERS AGAIN TO ATTRACT SENIORS. SENIORS LOVE MUSIC AND THE MEMORIES IT BRINGS BACK TO THEM.NEVER BUY DINNERS AGAIN TO ATTRACT SENIORS. SENIORS LOVE MUSIC AND THE MEMORIES IT BRINGS BACK TO THEM. YOU MUST BE CONTRACTED WITH US FOR THE FUNERAL AND ESTATE TRUST PROGRAMS TO USE OUR “LAS VEGAS SHOW” SENIORS LOVE THE “LAS VEGAS SHOW” The Las Vegas Show features – Dean Martin, Frank Sinatra, Elvis and “Sir Paul” Book the “Las Vegas Show” for Your Next Seminar or Client Appreciation event. Get More Seniors To Your Next Seminar - Sell more funeral trusts and financial sales. AVAILABLE THROUGH DELCO BROKERAGE

37 LEARN HOW TO INCREASE YOUR SEMINAR OR CLIENT APPRECIATION EVENTS WITH THE “LAS VEGAS SHOW” Call today for details

38 Thank you for attending our Webinar Contact our office for contracting and supplies Delco Brokerage Services


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