Split Funded Defined Benefit Plans: Check-List for Positioning and Executing These Plans

ChecklistYou 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.

About Us

We are pioneers in retirement planning, featuring tax-advantaged defined benefit pension plans as exit strategies for high net worth clients. We partner with top industry Advisers to bring their clients preferred solutions to achieve large income tax deductions.


Coral Gables, FL

Call Us

Phone: 1-800-717-4723

Working Hours

Monday-Friday: 9:00am – 5:00pm

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