|
Product Information
Life insurance is the cornerstone of any insurance package
and not surprisingly, there is an extensive array of
coverage types on the market today. The challenge for any
insurance agent is to provide customers with insurance
offerings that combine effective coverage with attractive
pricing. This becomes all the more challenging when dealing
with older customers. As the “baby boomer” generation moves
ever closer to retirement, it is more important than ever to
be able to effectively meet the insurance needs of this
customer segment.
CL Consulting, Inc. can effectively help
you meet the needs of older customers with the following
product offerings:
Term Life:
This policy provides a death benefit but no cash build up or
investment component. The premium remains constant only for
a specified term of years, and the policy is usually
renewable at the end of each term. While most any term is
available
CL Consulting, Inc. has chosen to focus on 10, 15, 20,
and 30 year terms. We have these terms to be most useful to
policyholders. Term life is a great no frills insurance
value. Let
CL Consulting, Inc.
help you choose Term Life options for all
your clients.
Universal Life:
In contrast to Term Life insurance, Universal Life insurance
provides a powerful, flexible insurance and investment
product. With this policy the holder can maintain coverage
at any age. This is sure to appeal to the large market of
elder consumers. Additionally policyholders can build cash
value – a feature that will appeal to all consumers.
The cash value accrued is usually a portion of the premium.
Premiums are adjustable and typically increase as the
policyholder ages. Policyholders are provided the
flexibility of varying, within limits, the amount and timing
of premium payments and the death benefits. These changes
can be made while the policy is in effect. These features
are especially appealing to the ‘hands on’ consumer.
The cash value portion earns interest at a rate that is
typically determined by the insurer. To cover the reasonable
increased risks of the holder dieing, the premiums
increases. If premiums are not completely paid, the insurer
makes deductions from the cash value portion of the policy.
The Cash Value portion of the policy is not guaranteed, but
it is possible the cash value in a universal life insurance
policy could outpace than the cost of insurance. In the
event of such favorable circumstances, the policyholder
typically has a choice as to how these funds are handled:
Allow the funds to remain in the policy and accumulate
interest. Taxes are avoided until the policyholder realizes
the cash value. Additionally, future premiums may be reduced
Funds can be cashed out. The funds are then treated as
taxable income and lower the policy's cash value.
Universal Life’s lack of an age limit coupled with its
flexibility and the potential to earn cash value make it
extremely appealing to all consumers.
Whole Life:
While insurance is typically considered a rather
conservative area of money management, there is still room
both for risk taking consumers as well as fiscally
conservative consumers. While Universal Life does not
guarantee cash value, Whole Life offers the appealing and
tangible benefit of guaranteed cash value. Whole Life will
certainly appeal to those consumers who like the safety and
certainty of a sure thing. The low risk of Whole Life is
reflected in its higher premiums.
The appeal of Whole Life is further enhanced by the fact
that this policy never has to be renewed or converted. So,
no matter what happens to the policyholder, their premiums
will not change. In other words,
CL Consulting, Inc. enables you to
offer your customers the greatest premium of all – peace of
mind!
The benefits of Whole Life insurance include:
Premium levels do not increase with age
Level death benefit up to age 100
Guaranteed value
Relatively high degree of safety |
