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There’s really not much debate that the single most lucrative market for life insurance agents today is to sell large, premium financed life insurance policies to wealthy individuals.  Policies with death benefits from $10 million to $25 million are typical, and commissions can easily exceed $1 million.

Also, for those clients that have a certain financial and psychological profile (enough liquidity and a willingness to use leverage), the premium finance contract is an incredible tool that cannot be duplicated any other way... with any other financial product or instrument.

So, why aren’t more producers flourishing in this market?  Could it be that there are very few potential clients that are wealthy enough to afford this product?  The short answer is no.  There are more than 1 million U.S. households with a net worth of $8 million or more (as determined by the Federal Reserve’s “Survey of Consumer Finance” in 2013), and every one of these clients is a reasonably good prospect for premium financed life insurance.

So, maybe the problem is that most wealthy clients have already purchased these premium financed policies.  While we don’t have exact statistics on that, it’s pretty safe to assume that there are less than 500 deals completed each year.  Even if we go back 10 years, that’s still only a maximum of 5,000 policies sold (again out of a total pool of well over 1 million potential clients).

Instead, there are two main reasons why more life insurance producers are not selling these policies.  First, it’s hard to get access to wealthy clients on a credible basis.  Second, if you do get in front of these types of clients, there will be an army of advisors that will be either trying to kill your proposal or offer a different plan that suits their financial interests rather than yours. And, make no mistake.  These large case premium financed plans are complicated to explain, defend and service (and that just makes everything harder).

For the vast majority of producers (those that are not doing large case premium financing full-time), the solution to these two problems is to partner with someone that can share with you a proven lead generation system for these types of wealthy clients.  And, ideally, this partner would also be willing to present the concepts to these clients (and more importantly, to their skeptical, cranky, competitive advisors).  And, finally, this partner would also have years of experience in forging the proper case design as well as have the ability to introduce numerous clients and third party, advisory firms willing to provide testimony about their positive experience implementing the premium financed life insurance plan.

InsMark is proud to announce that Ken Buckley and his team at The Buckley Group are willing to be that partner for you.  It’s really very simple.  If you are already closing 3 or 4 of these large policies a year on your own, then you probably don’t need any help.  If you’re not, then you’re not in this market today, and you therefore have everything to gain from Buckley’s offer and nothing to lose.

Scheduled Webinar

For more details about this program, there will be a LIVE one-hour Webinar on Wednesday, July 13th at 11 AM (Eastern).  This Webinar is entitled “Finding Clients For Large Case Premium Financing... JUST GOT EASIER”, and it’s FREE.  Simply click here to register.  You’ll receive all of the following details:

• How to approach other advisory firms in your area that have clients who desperately need large case premium finance life insurance policies;
• Strategies for how to all but guarantee that these advisors will attend your online or in-person events;
• Once these events are scheduled with your local advisors, how The Buckley Group will handle the event presentations and related materials;
• Learn the best methods of following up with your advisors after the meetings to maximize the number of new client referrals;
• Why working with The Buckley Group on these very specialized, large cases will result in far more commissions to you (with less work, less risk and less money spent) than doing all this alone.

We’re thrilled to offer Buckley’s program to you and believe it can be a major profit generator for you in the months and years to come.

More About Ken Buckley

Ken started The Buckley Group 34 years ago.  He is recognized as one of the top experts in the area of premium financed life insurance for the estate planning market and is a member of MDRT’s Top Of The Table.  In 2000, Ken decided to forgo all other aspects of his agency and focus exclusively on the premium financing market (typically working with CPAs, law firms and other advisory firms to help their clients reduce their net estate shrinkage to less than 5%).

Licensing InsMark Systems

To license any of the InsMark software products, visit our Product Center online at or contact Julie Nayeri at Julien@insmark.com or 888-InsMark (467-6275).  Institutional inquiries should be directed to David Grant, Senior Vice President – Sales, at dag@insmark.com or (925) 543-0513.

Testimonials

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Brian Langford, InsMark Platinum Power Producer®, Plano, TX

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Simon Singer, CFP®, CAP®, RFC®, Past President International Forum, InsMark Platinum Power Producer®, Encino, CA

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Doug Peete, Past President, Top of the Table, InsMark Silver Power Producer®, Overland Park, KS

“I really thought I knew all the sales techniques that affect my business, but I do now, thanks to InsMark.”
Sam Keck, MBA, CLU, CFP, LUTCF, InsMark Platinum Power Producer®, Financial Planner, Denver, CO

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Larry Gustafson, InsMark Platinum Power Producer®, Denver, CO

 

Important Note:  The information in this Blog is for educational purposes only.  In all cases, the approval of a client’s legal and tax advisers must be secured regarding the implementation or modification of any planning technique as well as the applicability and consequences of new cases, rulings, or legislation upon existing or impending plans.