Showing posts with label insurance school. Show all posts

Tuesday, October 3, 2017

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

Tuesday, September 26, 2017

How to Attract High Net Worth Clients [VIDEO]

To learn more about LarsonEd's Florida real estate and Florida insurance courses, visit LarsonEd.com or give us a call at 239-344-7510.

About Larson Educational Services:

Larson Educational Services

1400 Colonial Blvd. #44

Fort Myers, Florida

33907

239-344-7510

LarsonEd.com

Tuesday, August 8, 2017

How to Attract High Net Worth Clients--Fort Myers Insurance School

From a logical standpoint, life insurance is one of the best purchases a person can make—it provides financial security for loved ones left behind in the absence of a deceased family member.

This, in turn, provides emotional peace of mind knowing that in the case of the unthinkable, loved ones will be taken care of.

However, many people still deny themselves and their family this security by forgoing a life insurance policy.

Why?

People are uncomfortable (perhaps even afraid of) contemplating their own mortality.

(A host of other reasons also keep people from purchasing life insurance. Read more here.)

Life insurance can be an essential tool in covering end-of-life expenses, yet that’s only a minor part of its benefits, especially if you have a policy that covers lost wages for a deceased wage-earner.

But according to a recent LIMRA study (http://dbhc.com/wp-content/uploads/2017/01/2016-Insurance-Barometer.pdf) the most common reason people get life insurance is to cover the costs associated with a funeral and burial.

Why?

Because this is a concrete inevitability. A funeral and its costs are a guarantee with death—therefore, it's easier to visualize and use as a rationalization to purchase life insurance.

A higher net worth individual, one who would be able to cover funeral costs out of pocket, may not put a lot of weight into these end-of-life expenses.

There are other factors that drive these consumers to purchase life insurance (for example, in order to leave an inheritance to their children).

What keeps a person from buying life insurance?

Your high net worth clients and prospects may consider these benefits and still stay away from life insurance because of the relatively low yields compared to other potential investments.

A high net worth individual has likely amassed their wealth by way of shrewd investing.

Life insurance may seem like an inefficient investment to high net worth individuals.

Another common reason people don’t invest in life insurance is because they have other financial priorities that require their assets.

The takeaway

Insurance agents likely need to spend time educating your clients about the benefits of life insurance products while simultaneously offering solutions that allow your clients to retain financial liquidity.

Premium financing

Let your high net worth clients know about premium financing, which allows them to receive a loan that pays the premiums of the life insurance policy.

The client is then responsible for the interest of that loan out of pocket, but this kind of plan allows them to get their life insurance policy without a substantial impact on their liquid capital.

Premium financing is especially valuable for clients who want to keep their freedom to continue investing in other asset classes.

Premium financing plans aren't for every consumer, and some may not even qualify for the loan needed, but the knowledge of this kind of tool's existence is powerful when trying to overcome client apprehensions about life insurance.

About Larson Educational Services:

Brad Larson

Larson Educational Services

1400 Colonial Blvd. #44

Fort Myers, Florida

33907

info@LarsonEd.com

239-344-7510

www.LarsonEd.com

Tuesday, July 11, 2017

How to Design the Best Life Insurance Products

Understanding the needs of your clients is the first step to better serving them.

The next step is understanding their fears.

Why did your client choose now to obtain life insurance?

What obstacles stand in the way of them making the decision to get coverage?

What are their desired outcomes from their plan?

The answers to these questions could put you on the road to providing the best service possible for your clients.

Income Replacement

In general, when a client is obtaining a new life insurance policy or trying to change their current coverage, you'll use their current income as the starting point to decide the right amount of coverage for them.

However, there is often a serious disconnect between reality and perception when it comes to client benefits.

For example, according to LIMRA’s 2016 Insurance Barometer Study about 60 percent of life insurance clients see their policy as a potential replacement for lost income when they pass away (see page 20 of the study).

These consumers are often under the impression that their benefits will be paid out in a lump sum upon death.

Thus, they may see a lump sum payment as a deterrent, especially if they have a family that will need payments in regular intervals.

Let these consumers know that most policies can be arranged to pay out at regular intervals, thus quelling your clients' fears about lost income.

Given the prevalence of the assumption that policies only pay in lump sums, you can attract and keep more clients if you offer options that pay at regular intervals after they’ve passed.

how to design the best life insurance products

Flexibility Over Time

Another deterrent for consumers acquiring a policy is the fear that they will be locked in to the same policy for years, even if their needs change.

Flexibility will win.

A younger family getting coverage might be better served by being over-covered rather than being under-covered, given the possibility that their net worth and income might increase before they reach retirement age. (Plus, they might prefer this option as opposed to coming into your office every 5 years to change their coverage.)

Over-coverage is not a problem as long as you are flexible with your clients and communicate openly.

According to that same LIMRA study, about 30 percent of consumers are interested in changing their policies over time.

By being open about your flexibility, and by offering products that have many possibilities, you are more likely to retain clients.

Remember: you're trying to provide for these people for the long term—you want clients for life. The more willing you are to meet them in the middle and be open and honest with them, the better served they will be and the more business you’ll attract.

To sign up for LarsonEd insurance courses, visit our website, LarsonEd.com, or give us a call at 239-344-7510.

About Larson Educational Services:

Brad Larson

Larson Educational Services

1400 Colonial Blvd. #44,

Fort Myers, Florida

33907

info@LarsonEd.com

239-344-7510

LarsonEd.com

Tuesday, June 27, 2017

The Power of Saying 'No'

If you're constantly prospecting and adding value to your clients' lives--in other words, as you ascend to agent superstardom in the real estate or insurance industries--you'll reach a point where there are more people vying for your services than you can handle.

This means you'll have more prospects than time--a great problem to have.

Here's the thing, though:

your time and energy are both finite.

As your client list expands, so will your options--including your option to say 'no' to potential clients.

If you've established yourself in your niche market and created a reputation for yourself, odds are good that you have some products that are more expensive than others.

As time goes on, you may want to do away completely with offering lower end products, even if they bring in some revenue. Why? Because the time you'll save by saying 'no' to selling these products and the clients who buy them will become more valuable than the little revenue those products once brought to you.

This discerning eye for efficiency is one of the most important skills to hone as your business grows.

To learn more about LarsonEd's Florida real estate and Florida insurance courses, visit LarsonEd.com or give us a call at 239-344-7510.

About Larson Educational Services:

Larson Educational Services

1400 Colonial Blvd. #44

Fort Myers, Florida

33907

239-344-7510

LarsonEd.com

Thursday, June 8, 2017

LarsonEd is Now a Florida Insurance School! [VIDEO]

Family-owned and operated Larson Educational Services has had its doors open in Fort Myers since November 2008. We at LarsonEd are excited that for the first time in our company's 8-year history we are offering health insurance education. This is in addition to our already established courses in mortgage, CAM, and real estate.

As a professional education business, we are always looking toward the future for possible trends and opportunities. We feel that there will be a steady, continued growth in the health and life insurance industry in Florida. Now is a good time for us to bring our high standards and exam preparation expertise to this growing field. It also allows us to diversify our course offerings and give additional career options to our current and future students.

In our classes, you'll learn about the Florida Health & Life licensing requirements, responsibilities, liabilities, and standards of conduct. We also include, at no additional charge, all the EXAM PREPARATION you need to pass your exams.

Comprised of 12 modular units covering the basic principles and business fundamentals of insurance, our experts will prepare you not only for success on exam day, but will help you get off to a fast start once you have received your license. Because our course has a modular format, you can mix-and-match dates and locations if you need flexible scheduling. Just call us at 239-344-7510 and we'll help you put a schedule together.

You can't find that flexibility at any other insurance school in southwest Florida! Plus your tuition payment is good for one year! You can attend the course again to review for no additional charge.

We accept registrations all the way up to the course start time.

Tuition: $339

Includes:

• 1-year enrollment period to complete or review the course
• Our exclusive student workbook
• Our Health & Life Exam Preparation. No separate class needed!
• Tuition DOES NOT include the State Manual. State manuals can be purchased online here http://naifa-florida.org/study-manual-30th-edition/

To sign up for the 60 hour Health & Life Agent Pre-Licensing course, click here: https://www.larsoned.com/insurance/licensing/pre-licensin...

To sell annuity contracts, variable contracts, health insurance or life insurance in Florida, a person must have a license from the Florida Department of Financial Services (DFS). Before obtaining a license, a person is required to attend a pre-licensing course, pass the state exam and submit an application.

We at Larson Educational Services, a Florida insurance school with classes in Fort Myers and Naples, will guide you through the process of getting the following Florida Insurance Licenses:

Life and Health (2-15 Agent),
Health Only (2-40 Agent) or
Life Only (2-14 Agent)

Larson Educational Services
1400 Colonial Blvd. #44,

Fort Myers, Florida

33907

239-344-7510

Thursday, March 23, 2017

#TBT to King Ricky the Merciful!

This #TBT Throwback Thursday goes back to 1951, during the reign of King Ricky the Merciful.

Elk River, Minnesota--the Larson family's home town--was holding a contest to crown the king or queen baby of the area.

All over town, the local merchants posted pictures of babies in their shop windows--so many babies you would've there was a town-wide missing baby epidemic.

Once they'd surveyed the pictures, people then stuffed the ballot boxes inside the shops to vote for the best baby.

Of course Ricky Larson, barely one year old, put his hat into the ring with this classic picture.

And who could resist that toothless smile? Those jean coveralls? He even had his hands out front in ready position, like he was about to go work on the family farm.

"It was a great photo," Rick says now. "Really compelling."

The town of Elk River apparently agreed, as Ricky Larson won the "Stuff the Ballot Box" contest. ("That was kind of an ass-kicking," he says.)

He was awarded a little four-inch trophy (long since lost to the ages) that declared him King Ricky of Elk River.

So the next time you have Rick teaching your class, don't forget to call him by his true name: King Ricky.

About Larson Educational Services:

Brad Larson

Larson Educational Services

13040 Livingston Road #12

Naples, Florida 34105

239-344-7510

LarsonEd.com/Insurance

info@larsoned.com

Tuesday, February 14, 2017

Happy Valentine's Day--LarsonEd

You

<3 span=""> LarsonEd, don't you? We

<3 span=""> you right back

;)

Happy Valentine's Day from your friendly neighborhood real estate school!

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. #44

Fort Myers, Florida

33905

info@LarsonEd.com

239-344-7510

www.LarsonEd.com