You have a special offer for your high income business owners.
- Imagine what they will be telling you after next tax season… “Bought a red Corvette with my tax savings.”
- Fully understand the value of the tax savings you offer your client, and practice articulating this in a fun and memorable way.
[ Click here to download this form as a PDF ]
Who is the right client?
- Earned income of at least $400,000 and a client willing to contribute at least $100,000 to a plan for next 3 to 5+ years.
- Good net-saver, long-term thinker, and has consistent annual earnings.
- Business Owners ages 40 to 70
- 10 – 15 employees per business owner works best but don’t disregard clients with more employees
- Places high value on income tax-deduction, tax-free accumulation, and asset protection
Life Insurance within the plan – how to address it (get a PensionQuote executive to help).
- Focus on the economics/benefits to the Owner(s), increased tax deductible contributions each year.
- Review client’s existing life insurance for an integrated and comprehensive, tax-deductible needs-based solution.
When Life Insurance is not applicable.
- The client can reach his/her desired contribution without the inclusion of life insurance.
- Client is older and will only fund plan for a few years
- In either case above, client may still desire insurance based on need
Presenting The PensionQuote Owner’s Report to your client.
- Start with accurate census data; accept nothing less.
- Keep it simple.
- Understand the presentation.
- Schedule a member of the PensionQuote team to be on the call to explain the benefits/features of the plan to the client and CPA.
Life Insurance product choices.
- Pacific Life Flex 15 and Flex Protector Whole Life products
- MetLife Promise Whole Life
- Other products/companies may be considered
Completing Implementation/Insurance Paperwork and Account Opening
- Collect Implementation Fee to set up the plan
- PensionQuote provides Plan Tax ID #s
- Actuaries draft plan document(s)
- Open retirement account(s) for the pension plan and profit sharing
- Life Application(s) are taken (on the application, both the “owner” and “beneficiary” of the policy is the defined benefit plan).
The Sales/Marketing Cycle
- Tax season (February-April) and the again after Labor Day are the times when your high-income clients are most receptive to conversation regarding income tax savings. Start early in the year to allow:
- Clients to reduce their quarterly tax payments (if applicable)
- The funds to grow tax deferred and be protected from creditors (asset protection)
- The client to budget for a potentially large contribution
- Present a Webinar and add your testimonial.
- In-office presentation with one of the PensionQuote Inc. executives.