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Don Boozer
It Keeps Getting Better All The Time
It Keeps Getting Better All The Time


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All of us have encountered the challenge of finding the appropriate amount of insurance for our clients at a price that they can afford.  The term insurance meets the immediate need, but will run out before the death claim is paid in 97% of the cases.  Permanent insurance (UL and Whole Life) meet the permanent need but are outside the price range of our customer. 
Today, term plans are available with premium guarantees that range from 5 years to 30 years.  Most of these plans have guaranteed conversion options as well.  These plans give our clients the opportunity to buy an adequate amount of insurance for an affordable premium to cover the immediate needs of the family.  The only thing lacking in the term plan is longevity and the long term guarantee. 
Now, your client can buy a product that looks like term but is built on a permanent policy chassis.  This unique product (I will call it Equity Term) allows the customer to buy coverage at a lower cost that full blown UL or Whole Life plans and design the product to offer a guarantee for the number of years that meets the needs of the individual.  This type of coverage offers some cash values and offers the flexibility to change the design as needs change over time.  In addition, since this is a form of permanent insurance, there is a potential secondary market value. 
There are not many companies that offer this specific brand of coverage.  We have the one with the lowest rates from the company with the financial strength to back it up.  In addition to the favorable benefits listed above, there are other reasons to sell this particular product.   This unique product offers an optional chronic illness rider (at an additional cost) that is the most flexible in the industry.  This rider allows your client to access up to $9,900 per month of their death benefit if they are unable to care for themselves.  The client has a guaranteed option to ‘exchange’ this product at a later date for a cash value product.  The product also has an option to continue the coverage (at a reduced amount) after the guaranteed period. 

This is not your father’s term insurance – this is a whole new breed.  Allow us to show you how you can put this plan into your client’s hands with a simplified application process!

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We have been lured into a market where the ‘cheapest rate’ is the answer to every sale, and it should not be.  There are numerous reasons that one product might be better suited for a family where another, less expensive product might not be.  The simple illustration is for a family that needs permanent coverage on which the premium will never increase.  20 year term is not the answer in that case. 
The GUL Universal Life product offered by United of Omaha is always within a few dollars of the lowest cost plan on the market.  However, when we are constantly advertising to you that we have the lowest cost GUL in the industry – we are taking your attention away from what might be a better solution for your client.  There are a couple of reasons why this might be the case.  The GUL product (and the GUL Plus product) both come with a couple of very valuable features added at NO EXTRA COST to the insured.
There is a chronic illness rider attached to both products at no extra cost.  The rider offers the insured access to up to 80% of their death benefit if the insured is unable to perform any two of their six ADLs.  There is a $1,000,000 maximum on this benefit.   Imagine that you sold a product without this benefit and your client has a stroke and is unable to care for himself.  His friend tells him that you could have sold him a product (for the same price or less) that would have offered up to $1 Million of cash at the time he needs it most.  I would not want to have to explain that one.  Save yourself that problem – always include a CIR on every UL that you sell going forward. 
On October 1, United of Omaha began offering (at no extra cost) a return of premium benefit on their GUL and GUL Plus products. Now in addition to the CIR, their (high quality) UL plans also include ROP.  With this benefit, the insured is guaranteed that they can access 100% of their premium payments at the 15th, 20th or 25th year (maximum 35% of the death benefit).    Again, put yourself in the place of the insured who in 20 years finds out that another agent or company would have given him access to $17,347 that they could have used as a down payment on a house OR to help put their daughter through school – and they find out that you could have offered the same benefit for the same premium or less.  I wouldn’t want to have to explain that one. 
When you do the ‘spreadsheet’ you may find that UOO is usually a few dollars more per month than the lowest GUL rate in the industry, but when you sell it, you will have the satisfaction of knowing that if your client has a chronic illness episode – they will be able to access their funds.  You will also know that your client will have the ability to get ALL OF THEIR PREMIUMS BACK if they would like to.  These benefits bring peace of mind to you and to your clients!
If you remember the great Ben Feldman, you may remember one of his power phrases was, “It is better to have money than not to have money.”  This phrase applies to these great products from United of Omaha. 
Let us run an illustration for you for your best client.  We will all be glad you did!

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Really Easy Life!
We strive to continue to offer ground breaking and competitive life insurance products that you can use in your practice on a daily basis.  Today, I am going to show you a life product with an app that has only 4 health questions and you can write it online...

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Protective Life agrees to be acquired by Dai-ichi Life
For more information Transaction Fact Sheet, FAQ's, complete Press Release and company memo, please visit our website!

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What is "Lazy Money"?
I keep seeing the flyers come through my computer that mention the phrase “lazy money.”  I have to admit that I have not explored those flyers – but when I see them and they mention ‘lazy money’ I think of anyone who has money in CDs today.  The national av...

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We get requests for a competitive whole life product from time to time and we have really not had one in a long time.  However, that all changed when SBLI introduced their new WHOLE LIFE product.  The product is now available on WinFlex for illustrations an...

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Happy St. Patrick's Day!
Be our guest - visit our website and use the services! No passwords required Term and UL Quote Engine Apps and Forms Underwriting 101 Video Library Calculators Industry Links ...and more!  800-543-0886
Happy St. Patrick's Day!
Happy St. Patrick's Day!

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Occasionally we get a request for a ‘kid’s policy’ for someone’s child or grandchild and the agent is looking for a ‘standalone’ policy in instead of a term rider on the parent’s policy.  When we get these requests, we go immediately to the Children’s Whole...
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