Despite the fact that Baby Boomers have the highest median household income in the United States, many are woefully unprepared for retirement.
In fact, 71% are worried about having enough money for retirement, according to Senior Market Advisor. Approximately 20 million don't have a retirement plan at all.
This is an opportunity for life agents to help their prospects understand the risks and misconceptions involved in retirement planning, and how life insurance can help them create a tax-free income stream to supplement their retirement.
Dave Johnson is an accountant who is married with two children. He wants to provide life insurance for his family during his working years and supplemental income when he retires. He is age 45, in good health, and he plans to retire at age 65. Dave wants coverage of at least $300,000 death benefit and he can afford $500 premium per month.
For a total premium of $132,000, paid during Dave's working years, he could have an annual loan amount of over $25,000 during his retirement years. His loan amounts would total $901,845 from ages 66 through 100! Impressive!
Contract with NACOLAH through Senior Market Sales and start selling the industry’s best lineup of universal life products.