Make An Extra $5000 per month!

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DO THE MATH ON WHAT COMMISSIONS CAN BE !
Week 1 – You write (2) Funeral Trusts @$10,000 each
Client age – 64 20,000 x 16%= $3,200
Week 2 - You Write (1) Funeral Trust @ 15,000
Client age – 68 15,000 x 14%= $2,100
Week 3 - You Write (2) Funeral Trusts @$8000 each
Client age – 63 16,000 x 16% = $ 2,560
Week 4 - You Write (1) ESTATE TRUST @$50,000
Client age – 65 50,000 x 14% = $ 7,000.00
Total Monthly Commission
$ 14,860.00
Making an Extra 14k per month is very
realistic, Here is how it is done !
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
Let’s take a Look at the Funeral Trust
And How to Sell It.
Medicaid Eligibility Rules
Some states may vary on these Medicaid eligibility rules
Single person
Assets - $ 2000.00 –
May vary from state to
state. Next page has
all states.
Life Policy - $1500.00
Car - $ 4500.00
Personal possessions
Wedding rings
Funeral trust
Spousal Impoverishment
Rules for married couples
Assets - $50,000 – 109,560.00
Life Policy - $ 1,500.00
Car – Unlimited Value
Home - $ 500,000 Equity
Personal Possessions
Funeral Trust for both spouses
Income - $2739.00 Monthly
*some states may vary on the $1500 life insurance exemption. Let’s take a look at each state on the next slide.
Income - $ 45.00
Most Seniors who have Paid Up Life Insurance intend to use it to pay
the funeral home when they die.
•
•
•
•
Medicaid says only a $1500.00 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: $10,000.00 Policy – (Paid Up)
9,850.00 Cash Value
SOLUTION: 1035 Exchange to Funeral Trust. (Tax Free) – Now it is Protected.
SINCE ONLY $1500.00 IS EXEMPT
FOR LIFE INSURANCE…THIS IS AN ISSUE
Some states may vary on Medicaid Rules, please consult an Elder Law Attorney in your state.
Look for
your
state
Many states are facing financial budget deficits and you could find all states going down to the $1500
limit. Therefore, the funeral trust makes common sense in all states. This chart subject to change.
What is a Funeral Trust ?
Single Premium
Life policy
Irrevocable
funeral trust
Life Insurance Policy is
assigned to Irrevocable
funeral trust
•Single Premium Life
•Issue ages 0-99
•Guaranteed Issue
•No underwriting
•Commissions up to 16%
•Medicaid exempt once
assigned to trust
•Premiums $1000$15,000
•Provided by
insurance Company
•Medicaid exempt
•Not subject to five
year look-back
•Strictly 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.
Unity Financial Life
1.
2.
3.
4.
5.
6.
SINGLE PREMIUM LIFE PRODUCT
Premiums from $1000 - $15,000
ISSUE AGES 0-99
NO UNDERWRITING – GUARANTEED ISSUED
GREAT COMMISSIONS
FUNERAL TRUST PROVIDED BY INS. CO.
1. MEDICAID EXEMPT IN MOST STATES
2. 1035 EXCHANGES ACCEPTED
GREAT FOR PRE-PLANNING AND CRISIS PLANNING
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 grows @2.00% - ages 0-80, 1.00% -ages 81-90 * 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 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
$1500.00
$5,000
commission
Big Money doing 1035 Exchanges
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
CASH
Third
way to
fund the
funeral
trust
Savings Bonds / Stocks
Fourth
way to
fund
the
funeral
trust
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!
Case Study
Medicaid Spend-down – Burial Spaces
YOU CAN USE A
POWER OF ATTORNEY
IF CLIENT IS UNABLE
TO SIGN.
• Crisis Case – Client is already in an institution.
Example: Age 85 – Female
$75,000 remaining in bank acct.
Two Choices –
Choice #1 - Do Nothing…Spend $ 70,000 on Nursing Home
Choice #2 -Fund Funeral Trust for Mom - $ 15,000
Fund Funeral Trusts for (6) children @ $10,000 each
Qualify for Medicaid immediately
***Most states allow the institutionalized parent to fund BURIAL SPACES for their
children, adopted children or spouses of their children. A burial space is the
merchandise….Casket and Vault. ***you must have to have a “Goods and Service
Contract from a funeral home that matches the amount in funeral trust to be Medicaid
Exempt.
***Medicaid laws can vary from state to state and you should consult an elder law attorney in your particular state.
FUNERAL COSTS CAN VARY FROM $7000- $12,000
NATIONAL AVERAGE IS $8495.00
Unity Financial Life
One page Application
•Issue ages 0-99
•Guaranteed issue
•Trust provided
•Medicaid exempt
•$1000 - $ 15,000
•Simple to Explain
•Up to 16.50%
commissions
Growth rate is 2% from ages 0-80, 1% growth
from ages 81-90, and 0% after 90.
NO Health Questions and no reduction in
commissions for poor health as other
companies do.
PACKAGE YOUR PRODUCTS
FUNERAL TRUST
FOR
IRENE SMITH
ABC FINANCIAL SERVICES, INC.
123 MAIN STREET
ANYTOWN, USA 00000
800-000-0000
PLANNER – TOM JONES
Existing Clients
You already have relationship
Do an Annual Review with Each of your customers. The best
target age is from 60-90.
•Help Your clients up date their accounts at bank with P.O.D.
•Review their estate planning and financial documents
•CD holders that have CD’s coming due.
•Passbook Savings customers
•SELL THE FUNERAL TRUST CONCEPT TO THEM.
Annual Review Letter
The Funeral Trust Business is a natural with
my existing senior clients.
The Trust Business has
added an extra 10K or more to
my income monthly!
I Sent the Annual Review
letter to my 1100 clients
which created more
activity in my office than I
have had for years.
93% of my clients did not
have long term care
insurance and they
needed these products.
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