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BSMG Blog: Protecting the Future of Families and Businesses

Top 4 Retirement Planning Discussions to Have with Your Clients

1 in 3 Americans are not saving for retirement. After you've picked your jaw up off the floor lets take a minute to think about that statistic. You may be asking yourself how that is even possible? Is it a lack of care? Lack of understanding? Or is it just plain recklessness?

Obviously we cannot answer those questions for every client, however what we can do is arm them with the tools and knowledge necessary to set them up for a successful future that is not riddled with financial concern. 

We have come up with the top 4 topics to discuss with your clients to make sure they are prepared for retirement. 

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Voya Quest Series for Advisors

Keeping up with Annuity Awareness Month we wanted to give you some more insight into this great Voya product!

Voya recently debuted a new product that is aimed at helping you, the advisor, assist your clients as they navigate towards and through retirement. This new series of Index Annuities provides a greater premium bonus and more guaranteed roll-up on the income benefit base.

Check out the videos below to learn more!

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Introducing the Voya Quest Series for Advisors

Starting off Annuity Awareness Month with a great new product for your clients. 
On June 13th Voya will debut a new product that is aimed at helping you, the advisor, assist your clients as they navigate towards and through retirement. This new series of Index Annuities provides a greater premium bonus and more guaranteed roll-up on the income benefit base.

With a variety of interest-crediting options, surrender periods and optional benefits, the Voya Quest series of indexed annuities are designed to help your clients grow, protect and enjoy their retirement savings.

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The Post DOL World for Annuities

 

June is recognized as Annuity Awareness Month, and as such, it is the ideal time to start a conversation with your clients. However, how will the recent DOL rule effect these conversations and your sales process?

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"Zero-Gift"GRATs and ILITs

 A Tax Efficient Capital Transfer Strategy

Using a so-called “Zero-Gift” Grantor Retained Annuity Trust (GRAT) coupled with an Irrevocable Life Insurance Trust (ILIT) can provide estate, gift, and income tax free transfer of estate assets to heirs in an economically efficient manner.

This article, by BSMG's very own Russell E. Towers, takes a look at the long list of GRAT advantages available under current law. As well as a case study on a zero-gift GRAT in tandem with an ILIT.  

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Using Persona's to Get to Your Annuity Pot of Gold

Happy St. Patrick's Day! We thought we'd share a great tip to help you reach your own "pot of gold". Establishing and targeting personas is a key tool to grow your business and here's why.

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Are You Ready to Ride the Retirement Income Wave?

In recent years, more Americans have been proactive about making decisions regarding their retirement plans which is causing a surge in sales of retirement income and savings products. Updated research from the LIMRA Secure Retirement Institute projects that the retirement income market will reach $9.4 Trillion for individuals age 55 to 64 and $15.1 Trillion for people over 65 by 2023. Furthermore, they forecast that the IRA rollover market will grow to $550 Billion by 2018!

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I'd Sell More Annuities If...

2016 Life Insurance & Annuity Brokerage Survey
Wondering how you can sell more annuities? As it turns out you're not the only one! In November of 2015, we conducted an online survey of life insurance and financial professionals in order to get a better understanding of some of the road blocks financial advisors face.

As part of the survey, we asked individuals like yourself to finish the statement "I'd sell more annuities if..." Below are the most common responses we received including some tips to overcome some of these challenges.

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The Fed Raises Interest Rates After 10 Year Standstill. What Does This Mean?

Update!

The Federal Reserve’s FOMC decided to raise rates on December 16th 2015 for the first time in almost a decade.

"With the economy performing well and expected to continue to do so, the committee judges that a modest increase in the federal funds rate is appropriate," Fed Chair Janet Yellen said in a press conference after the rate decision was announced. "The economic recovery has clearly come a long way."

What does this mean for the life insurance and annuity marketplace?

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The 4 Most Common Risks In Retirement

  1. Market Volatility  
  2. Longevity 
  3. Inflation  
  4. Interest Rate Risk


Risk #1: Market Volatility

27% of Americans are worried the stock market will experience a major decline in the near future. 

In this fictional example, financial advisor Dave teaches you how to sell annuities as a way to mitigate client concerns about market fluctuations.

Over the years, Dave has been managing Karen’s account to maximize her growth potential. As Karen approaches retirement she has expressed her concern over what another market decline would do to her retirement income. She certainly does not want to “give back” or lose the gains she has made, yet she also wants to make sure her money continues to have growth potential. 

Read: Low Interest Rates & Market Turmoil: Managing Market Volatility with Fixed Index Annuities

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