BSMG Blog: Protecting the Future of Families and Businesses

The Right Buy-Sell Agreement for Your Client

One of the most important planning issues confronting a business owner is what happens to his or her share of the business upon death.


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9 Key Steps to Nurturing Life Insurance Leads

We're sure you know that you can't grow your business without growing your sales pipeline. Successful sales lead management begins with identifying prospects who have expressed an interest in your products or services. Life Insurance leads can come from a variety of prospecting efforts such as lists, social media, direct mail or email. Regardless of how you find these leads, it is important to always nurture them, a forgotten lead is unlikely to become a customer. Below are tips on how to handle and track each new lead as well as grow your lead base.

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8 Communication Tips to Attract Clients Who Are Business Owners

Here are 8 Communication Tips for Insurance Agents to Attract Clients Who Own a Business:

  • Use a local phone number instead of an 800 number.

  • The best time to approach owners is Tuesday, Wednesday or Thursday.

  • Send a personalized email:
    • Personalized subject lines indicate that the content is relevant to the owner or business, and increases panelists’ likelihood to open an email.
    • Send the email from an individual, rather than a marketing inbox.

  • Send personalized direct mail or letters: Use results-driven language (by doing this, you will get that).
    • Hand-addressed card-sized letters are opened most often.

  • Simplify and speak in terms that are easy to understand.

  • Incorporate messaging about ROI, rather than price.

  • Be sure to follow-up:
    • Follow-up even if you are told no, but provide educational information when you do.
    • The owner may not buy now, but follow-ups may help you get the business later.
    • Advise with frequency tailored to their needs.
    • Use non-evasive regular touches by checking in every 60-90 days after the initial point of contact.
    • Perform more of a branding call vs. a sales call: Example: “This is John Doe, from Mutual of Omaha, checking on how your business is doing and reminding you that I’m here if you need me. Would you like me to follow-up monthly, bimonthly or quarterly?”
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Pain Points Revealed: Understand Insurance for Small Business Owners

The Biggest Pain Points of Small Business Owners 

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10 Reasons Why Life Insurance is a Viable Asset Class


Life insurance is a powerful asset that demands a place in your client’s financial portfolio due to its unique risk and return characteristics. 
Did you know that the underlying mathematical principles dictate that life insurance is the highest returning, safest asset a client can own?

Portfolios, regardless of the size, should be as diversified as possible, right? Well, whereas most portfolios include real estate, stocks and bonds; life insurance is often overlooked. Now, with solid IRR mathematics, you can add the tax-free asset of life insurance to the mix as well. 

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5 Guidelines for a Successful Section 1035 Exchange

What Financial Advisors Need to Know

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What To Do With An ILIT When the Estate Is No Longer Taxable

Ask yourself this important question... 

Since the federal estate tax exemption is $5.43 million (single) and $10.86 million (married), does paying premiums for life insurance owned by an Irrevocable Life Insurance Trust (ILIT) that was purchased years ago when the estate tax exemption was much lower make sense anymore?

Are there other important retirement and protection needs that could be covered with the annual premium that has been gifted to the ILIT for many years? 

A current no-lapse single-life universal life (UL) policy or no-lapse survivorship universal life (SUL) policy may still provide a good internal rate of return (IRR) on death benefit at life expectancy. And the pre-tax equivalent is even better because the life insurance death benefit is income tax-free. However, the federal estate tax exemption may have only been between $1,000,000 and $2,000,000 when the trust-owned policy was purchased and it made sense at the time to offset projected estate taxes with estate tax-free insurance owned by the ILIT.

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7 Lessons to Attract and Retain Female Clients


Women today are working more, earning more and taking an increasing role in their family’s financial planning. For advisors, a focus on women - with a understanding of their needs, and a willingness to approach financial planning in a way that works for them - can result in a solid client base.  

In general, women are loyal. If they’re satisfied with their advisor relationship, they’ll be more than willing to provide referrals.  In fact, recent surveys have revealed that more women look to a financial professional for advice before family and friends or even a spouse or partner. The same surves publicized that nine out of every ten of the women who participated took positive steps after receiving advice. These steps included making changes in their spending habits, increasing the amount they save each month and setting up an emergency fund.

Looking for a way to tap into this potential? Here are seven lessons for serving your female customers.  

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Financial Advisor Prospecting - 7 questions to help you acquire new clients.

In today’s ultra-competitive financial planning marketplace, it takes more than a passion for cold calling and a pristine reputation for financial advisors to acquire new clients. 

Now more than ever before, Americans are pressed for time and have problems that need solving. In fact, it’s a safe bet that most of your prospects are facing critical life events for the first time and need your help.The tough part is... they might not even know it yet. It’s your job to spark interest with your prospects and get them to see that the grass is in fact greener on your side.

When we work with advisors at the POS we have found that these questions help open the eyes of potential clients to their need for planning and protection.

(1) Do you currently have a financial advisor?

We have seen too many missed opportunities because this question was never asked. Did you know that just  28% of Americans have met with a financial advisor or used an online planning tool? 
 


It’s a simple fact;
educated consumers who do more than just save their money get ahead, while the others don’t. If your prospect answers "no" to this question, you should be well-equipped to school them on the benefits (some great talking points here in this video) of enlisting the help of a professional. If they answer in the affirmative, you may have more work to do.

(2) Do you currently have a financial plan?

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