Life Insurance Tax Benefits--Fort Myers Insurance School

Many people who are uninsured do not realize the tax benefits that come with a life insurance policy.

The importance of these benefits cannot be overstated.

They can help alleviate the tax burden your clients and their family will feel in retirement.

Understanding your clients' fears can help you understand their perspective, especially if their fears keep them (or have kept them) from buying a life insurance policy.

For example, most people are afraid of running out of money during retirement.

In fact, they often list this as their top retirement concern.

You can put their fears at ease by informing them about the possibility to access life insurance money on a tax-free basis in retirement.

This benefit is especially important for high net worth clients, they may be getting taxed at high rates to access other money, such as traditional IRAs.

Death benefits

Death benefits are often paid to beneficiaries tax-free, decreasing the tax burden on loved ones.

However, if those benefits are received as an annuity they may be taxable. Likewise, the interest accrued on a policy is potentially taxable.

Let your apprehensive clients know that some types of life insurance (for example, whole life policies) may pay dividends, yet they are not taxed like regular capital gains.

Instead, those dividends are considered a return on part of a premium paid. Therefore, they're not taxed unless the amount of the dividend exceeds the premiums paid.

If you succeed in highlighting these tax benefits for apprehensive clients (or prospects), you'll be more likely to assuage their fears about one of the most stress-inducing prospects of someone's life: their passing.

For more information or to sign up for health and life insurance education, visit our website, LarsonEd.com, or give us a call at 239-344-7510.

About Larson Educational Services:

Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.

Larson Educational Services

1400 Colonial Blvd. #44,

Fort Myers, Florida

33907

239-344-7510

LarsonEd.com

How to Sell Health Insurance to Small Businesses Part 1

How to sell health insurance to small businesses

Small and medium sized businesses account for more than half of new job creation in the US. Therefore, they offer a great prospecting opportunity for health insurance professionals.

Check out these 10 tips for selling health insurance to small businesses.

1. Take Your Time

Part of the selling process includes educating your potential clients on what their potential health insurance solutions might be. Likewise, you need to qualify your prospect. If you skip these integral steps in search of a quick sale, then you may lose a deal. And remember: larger companies may require more time for the purchasing process. Utilize their more complex decision-making process as an opportunity to spend more time building a relationship with your client.

2. Focus on Best Leads

When you first meet a potential prospect (or even when you make a cold call) be sure to have a set of questions to ask that let you know whether or not your time will be well spent trying to get their business. Recognize who your most qualified leads are and be sure to give them your expert care.

3. Be Goal Oriented

It might be helpful to think of selling health insurance as a series of offers and agreements. It might start with the prospect agreeing to speak on the phone, then the prospect agrees to meet in person, then the prospect agrees to hear the sales pitch--all the way until the prospect becomes a client by agreeing to buy a health insurance policy from you.

At each potential agreement point, know your desired outcome and know what the next step is. Be sure to communicate these next steps clearly with your prospect.

4. Saying “Yes” Should Make Sense

Selling is not always a logical line of cause and effect; buying and selling is an emotional process. Spend time cultivating a relationship with your potential client and saying yes will make sense for them from both a logical standpoint and an emotional one.

5. Be Okay With Hearing “No”

Some salespeople dread the word no. But as you gain more experience as a health insurance sales professional, hearing no will be part of the process. It’s a good thing. A yes means you made the sale, but a no simply means that the prospect is not qualified and you are able to clear them from your prospects list. Do ask for feedback as to why they said no but don’t be pushy: simply try to gather information that may help you in future sales situations.

Follow these tips and you’ll be more likely to get those small business clients in no time.

Check back next time for part 2!

About Larson Educational Services:

Utilizing 30 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online.

Brad Larson

Larson Educational Services

1400 Colonial Blvd. Suite 44

Fort Myers, FL 33907

info@LarsonEd.com

239-344-7510

www.LarsonEd.com