Presentation on theme: "WELCOME TO OUR WEBINAR Delco Brokerage Welcome To Our Webinar"— Presentation transcript:
1 WELCOME TO OUR WEBINAR Delco Brokerage Welcome To Our Webinar Paul from the Wings AgencyDelco BrokerageMichael K. O’DellTake 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.National Sales OfficeWelcome To Our WebinarFuneral and Estate TrustsWe will be starting the webinar in a few minutes
2 Business is up 348% from last year! Start selling funeral andEstate trustsAmerican Benefits, Ltd.It doesn’t get any easier than this
3 An Exciting Opportunity Funeral trust and estate trust sales are up over 348% from last year!Learn How to Make an extra 7-10K monthly with the funeral and estate trust. It’s easy and simple to do!
4 Our Webinar Speaker Today 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.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.
5 Dale Froehlich – AgentMichael O’Dell – National Sales Office$25,000 – commissionMonthly 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 ShoopSelling 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
6 Mail An Annual Review Letter To Your Clients 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 LedzkiFinancial Planner
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 premiumCommission rate X $250,000 = $40,000.00This Opportunity is for Real.Get Contracted after the Webinar…
9 What is a Funeral Trust ? Irrevocable funeral trust Single PremiumLife policyIrrevocable funeral trustLife Insurance Policy is assigned to Irrevocable funeral trustSingle Premium LifeIssue ages 0-99Guaranteed IssueNo underwritingCommissions up to 16%Medicaid exempt once assigned to trustPremiums $1000-$15,000Provided by insurance CompanyMedicaid exemptNot subject to five year look-backStrictly to pay for funeral expensesThe 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 ! The Issues93% OF SENIORS OVER 65, DON’T HAVENURSING HOME INSURANCE !
11 Let’s look at the New Medicaid Rules Without Planning, Your Clients Could Lose Everything !LOOK AT THE FACTS !AVERAGE COST- $ –NURSING HOME50% OF US WILL ENTER A NURSING HOME.70% OF SINGLES WILL REACH POVERTYWITHIN 33 WEEKS.7 0UT OF 10 COUPLES WILL HAVE ONESPOUSE ENTER A NURSING HOME.A NEW CASE OF DEMENTIA ARISES EVERY7 SECONDS.The planning that you do today…could determine if your childrenand grandchildren inherit anything from you. Asset Protection is possible.Advance Planning Can Protect Assets !Let’s look at the NewMedicaid 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 rulesSingle personSpousal Impoverishment Rules for married couplesAssets - $50,000 – 109,540.00Life Policy - $ 1,500.00Car – Unlimited ValueHome - $ 500,000 EquityPersonal PossessionsFuneral Trust for both spousesIncome - $ MonthlyAssets - $Life Policy - $Car - $Personal possessionsWedding ringsFuneral trustIncome - $ 45.00
14 SINCE ONLY $1500.00 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 ValueSOLUTION: 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-BackProtected 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 inyour state. This presentation is for illustrative purposes only.
16 FUNERAL TRUST SINGLE PREMIUM LIFE PRODUCT Premiums from $ $15,000ISSUE AGES 0-99NO UNDERWRITING – GUARANTEED ISSUEDGREAT COMMISSIONSFUNERAL TRUST PROVIDED BY INS. CO.MEDICAID EXEMPT IN MOST STATES1035 EXCHANGES ACCEPTEDGREAT FOR PRE-PLANNING AND CRISIS PLANNING
17 The Irrevocable Funeral Trust 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 GuaranteedAt 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.
18 The Easiest Sale You’ll ever make First way to fund a funeral trust.1035 Exchange from Old Life Insurance Policies that have a Face Value of over $Big Money doing 1035 Exchanges$15,000commission
19 The 10% Free Withdrawal To Fund Trust Second way to fund the funeral trustWe are just going to move money from your old annuity to the funeral trust. Instant Medicaid Protection
20 CASH Savings Bonds / Stocks Third way to fund the funeral trust Fourth way to fund the funeral trust
21 Your Biggest Competition THE FUNERAL HOMEREASONS WHY YOUR CLIENT IS BETTER OFF DOING BUSINESS WITH YOU.The Funeral Home might go out of businessYou might move closer to your children in your old ageThe Funeral Home may merge with new ownersYou might retire down in FloridaOur 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 HomeSave $8000 with Funeral TrustYOU CAN USE APOWER OF ATTORNEYIF CLIENT IS UNABLETO SIGN.
23 FUNERAL COSTS CAN VARY FROM $7000- $12,000 NATIONAL AVERAGE IS $
25 ABC FINANCIAL SERVICES, INC. PACKAGE YOUR PRODUCTSFUNERAL TRUSTFORIRENE SMITHABC FINANCIAL SERVICES, INC.123 MAIN STREETANYTOWN, USA 00000PLANNER – TOM JONES
26 The Family Estate Trust The Irrevocable Estate Trust This is a single premium life productEstate trust furnished by insurance companyIssue ages 0-99HUGE commissionsMedicaid exempt after 60 monthsGreat Planning tool.
27 Mildred’s Story and what happened In 2001, Mildred sold her home for approximately$100, and moved into a senior apartment atthe age of 71. She was in good health.Her income was more than enough for her to payher bills. She had $2,350 monthly income andthe bills amounted to only $1,465 monthly.She did not have long term care and she wasconcerned about the nursing home wiping out hergrandchildren and children inheritances.She wanted to leave $50,000 to her children, andshe was concerned that a nursing home couldwipe out this money before she died.Her advisor said she should set up an “Estate Trust” withthe $50,000 and after 60 months passed, this moneywould be protected from the nursing home and Medicaid.In addition, her advisor said she should do a Medicaid exemptfuneral trust at $ 12,500.For some reason Mildred never completed the trusts withher advisor.In January of 2007, Mildred entered a nursing home aftera stroke. (*cost of nursing home was $6950 monthly)In August of 2009, Mildred applies for Medicaid with only$ 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 If Mildred would have planned, she could be in the nursing home and still pass $50,000 to her family.$50,000Estate TrustDon’t let your clients become like Mildred. Help them plan now while they are healthy to protect assets.
29 Estate Planning – Estate Planning Trust Worksheet Protecting Assets for our family by using the “Estate Trust”Name of client - _____________________________age - ____Spouse - _________________________age-____Address - ___________________________City - _________________State_____Zip -___________Telephone - ______________________________Our Goals are to plan in advance with the “Estate Trust” to protect funds from the nursing home andMedicaid. We realize by planning 60 months in advance with the estate trust, these funds will beexempt in this irrevocable trust._____ These are funds that we definitely want to pass to our children, grandchildren or charity._____ These are funds that we don’t need to live on or depend on for income._____ We don’t have long term care insurance.Our Goals planning with the “Family Estate Trust”$ ________ (each) to our grandchildren $____________ - Church $ _________ - other$________ (each) to our children $____________ - Charity
32 You already have relationship Existing ClientsYou already have relationshipDo an Annual Review with Each of your customers. The best target age is fromHelp Your clients up date their accounts at bank with P.O.D.Review their estate planning and financial documentsCD holders that have CD’s coming due.Passbook Savings customersSELL THE FUNERAL TRUST CONCEPT TO THEM.
34 Every town has a SENIOR CENTER SENIOR CENTERS ARE ALWAYS LOOKING FOR SPEAKERS AT THEIR LUNCHEONS. ESPECIALLY ON SENIOR ISSUESThere 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 THINK OUTSIDE THE BOX WITH YOUR MARKETING Want More Information on the “Las Vegas Show”Call Ann Shoop at American Benefit, Ltd. for detailsCELEBRITY SEMINARSLOOK-A-LIKE – SOUND A LIKEWHEN WAS THE LAST TIME YOU HAD THIS MANY PEOPLEATTEND YOUR FINANCIAL SEMINAR?Celebrity Seminars Travel NationallyWe Specialize in Financial Planning Seminars
36 How to do a “Las Vegas Show” Seminar? 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.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.At 1pm – You start your regular financial seminar.Finish your seminar at 2:30pm.Take a 10 minute break2:45PM – The “Las Vegas Show” begins4:15PM - End of your event.NEVER BUY DINNERS AGAIN TO ATTRACT SENIORS. SENIORS LOVE MUSIC AND THE MEMORIES IT BRINGS BACK TO THEM.Get More Seniors To Your Next Seminar - Sell more funeral trusts and financial sales.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”Book the “Las Vegas Show” for Your Next Seminar or Client Appreciation event.The Las Vegas Show features – Dean Martin, Frank Sinatra, Elvis and “Sir Paul”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 andsuppliesDelco Brokerage Services