STRATEGIES
TO GROW YOUR
LIFE BUSINESS
Claudio Viola, CFP, CLU, CH.F.C., B.A.S.
Account Executive, Retail Insurance Distribution
® Registered
trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.
The ‘Right’ Solution??
1. Affordability
2. Covering needs
3. Client Focused
4. Cost vs Value
Empire’s All-Star Sales Ideas
• Bundling within One Policy
• Trilogy with Term Advantages
• UL Solution to Temporary Needs
• Power of Maximizing Par
• Quick Deposit Legacy Building Strategy
Sales idea #1
Bundling within One Policy
Target Market
• Ideal for family needs
• Multiple needs and limited budget
Case Study
• Couple, both aged 38 with a young family
• Need insurance for mortgage: $250,000
• Would like some permanent coverage: $100,000
• Critical illness coverage: $75,000
• And a child life rider: $25,000
Bundling within One Policy
Target Market
•
•
Ideal for family needs
Multiple needs and limited budget
Case Study
•
•
•
•
•
Couple, both aged 38 with a young family
Need insurance for mortgage;
Would like some permanent coverage;
Critical illness coverage;
And a child life rider
$250,000 JFTD (term 20)
$75,000 Life 1 (term 10)
$25,000 Life 1 (Level)
$75,000 Life 2 (term 10)
$25,000 Life 2 (Level)
$75,000 Life 1 (CI 10)
$75,000 Life 2 (CI 10)
SAVINGS:
$400
$300
$250
$200
$150
$100
$50
$350
$25,000 Child rider
with payor on disability on
Life 2
Solution 10
Empire Life
Up to 85
coverage
stops
INSURANCE COST
The Competition
46
56
66
76
AGE
86
Paid-up at
age 100
coverage
continues
100+
INSURANCE COST
Solution 20
The Competition
46
66
Empire Life
Up to 85
Paid-up at
age 100
coverage
stops
coverage
continues
86
AGE
100+
Step 1: JFTD Mortgage coverage
Step 2: Life 1 individual coverage
Step 3: Child Rider
Life 1 Summary
Life 2 Summary
Bundling within One Policy
Key Benefits
• Great flexibility in coverage options
• Bundling coverage: multiple riders save
multiple policy fees
• Cover all risks still considering the
family’s budget
• Conversions options into permanent
products
• Underwriting for amounts up to $300,000
with just non-medical
Sales idea #2
Trilogy with Term Advantages
Target Market
• Lowest cost “Level Deposit” or
“premium” need
• Sweet spots of age 46-50s for T20
and 66-70s for T10
Case Study
• Mary, aged 70 needs a fixed income
solution
• Traditional insured annuity with
minimum funded UL
• Trilogy Plus with T10 COI has 32%
lower level deposit than level COI
alternative
Trilogy with Term Advantages
Level Premium
Trilogy with Term Advantages
Level T10 for life
Trilogy with Term Advantages
Illustration summary
Trilogy with Term Advantages
Key Benefits
• Lower cost level deposit insurance
solution
• Builds cash value in the early years
• Potential to reduce premiums if
interest rates rise
• COI structures inside UL unique to
Empire Life
Sales idea #3
UL Solution to Temporary Needs
Target Market
• Quitting smoking
• Losing weight
• Age just below “sweet spot” for T10 & T20
COI level deposit strategy
• Small business start-up with low cash flow
Case Study
• John, age 55 has a $200,000 permanent
insurance need and is just quitting smoking
• First two years’ premium will be 86% less
expensive than a level cost solution
UL Solution to Temp needs: T20 Level
UL Solution to Temp needs: ART 100
UL Solution to Temp needs: T20 LEVEL
UL Solution to Temporary Needs
Key Benefits
• Lower premiums
• Preservation of insurability
• Covering the risk
• Flexibility to switch between COI
structures at any time
Sales idea #4
Power of Maximizing Par
Target Market
• Clients looking for a low cost
permanent insurance solution for estate
protection
• Effective at a broad range of ages
Power of Maximing Par: $100,000 PUA
Power of Maximing Par: UL min pay
Power of Maximing Par: Optimax Extender
Power of Maximing Par: Optimax Extender
Power of Maximing Par: $100,000 20 pay PUA
Power of Maximing Par: $100,000 20 pay Extender
Power of Maximizing Par
Key Benefits
• Lifetime guarantee of extender
coverage
• Paid up Values
• Cash values starting as early as
year one
Sales idea #5
Quick Deposit Legacy Building Strategy
Target Market
• Individual/couples typically 60 or older
• Capital not required to generate income for
lifestyle
• Desire to leave a legacy: family/philanthropy
Case Study
• Sarah is a 65 year old grandmother wanting to
leave an inheritance for her grandchildren
• She has earmarked $100,000 for this gift and is
shown how to structure a $225,000 life
insurance policy
Step 1: Choosing Maximizer
Step 2: Choosing Base Coverage
Step 2: ART Single Pay
Quick Deposit Legacy Building Strategy
Key Benefits
• Create larger legacy than with alternate
•
•
•
•
•
investments
Guaranteed solution and values
Very competitive COI alternative
Large early exempt room
Compare to 2.5%-3.0%-3.5 fixed income
alternatives
Effectiveness magnified in corporations for small
business owners using corporate tax advantages
1. Fast & Full Life App.
Overview
37
What is the Fast & Full™ Life App?
• A web-based tool
• Fast-tracks the Life
Insurance application and
approval process.
• Allows advisors to get
quotes in seconds
• Complete applications in
as little as 15 minutes
with Full Underwriting.
Empirelife.ca new website
Empirelife.ca: Find an advisor
Empirelife.ca: Quote and Buy
Empirelife.ca: About Life Insurance
Contact info:
Claudio Viola: 647-466-7694
Claudio.viola@empire.ca
Take the Empire Life challenge!!
STRATEGIES
TO GROW YOUR
LIFE BUSINESS
Questions?
The information in this presentation is for general information purposes
only and is not to be construed as providing legal, tax, financial or
professional advice. The Empire Life Insurance Company assumes
no responsibility for any reliance made on or misuse or omissions
of the information contained in this presentation. Please seek
professional advice before making any decision.
® Registered
trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.