1 EXIT NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES Custom GrowthCV...
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Transcript of 1 EXIT NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES Custom GrowthCV...
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NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
Custom GrowthCV sm
Universal Life Insurance Designed for Cash Value Growth!
2NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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DisclosuresThese disclosures apply to this presentation in its entirety
Custom GrowthCV is issued on policy form series LS166. Accelerated Benefit Endorsement is issued on form series LR352A, Accidental DeathBenefit Rider is issued on form series LR370A, Children’s Term Rider isissued on form series LR372A, Chronic Illness Accelerated Benefit Rider (In Minnesota, Accelerated Benefit Rider for Continuous Confinement) is issued on form series LR450A, Guaranteed Insurability Rider is issued on form series LR373A, Waiver of Monthly Deductions Rider is issued on form series LR416A; or state variation by North American Company for Life and Health Insurance, Executive Office: Chicago, IL 60607. Products, features or riders, endorsements or issues ages may not be available in all jurisdictions. Limitations or restrictions may apply.
3NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Focus
• Designed to provide long term cash value accumulation via all-pay, short-pay, or single-pay.
• Flexible Product features
4NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Basics• Minimum Face = $25,000 (including top class)
• Issue Age = 15days to 75 years (age last birthday)
• No charges or premium payments after age 100
• Banded– $25,000 to $99,999– $100,000 to $999,999– $1,000,000+
5NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Marketable Features• Conditionally Guaranteed Interest Bonus
– 1% in years 11-20
– 1.15% in years 21+
• Net zero cost loan on full loan value (yrs 6+)
• Waiver of Surrender Charge option
• Table shaving option
• Conditionally Guaranteed Premium bonus years 11-15
6NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Waiver of Surrender ChargeMale, Age 55, Super Preferred NT, $250,000 death benefit, assumes 5% interest and current assumptions $20,000 lump sum and $5,000 premiums years 1-15
Year Cash value without option
Cash value with option
Cash value percent change
1 $14,013 $23,578 +68
5 $35,058 $42,608 +22
10 $66,982 $70,443 +5
20 $161,066 $150,732 -6
30 $279,209 $256,972 -8
Age 100 $661,881 $609,905 -8
Target Premium $5,285 $3,277
Waiver of Surrender Charge Option available for an additional charge of $.04 - .06 per $1,000 per month, depending on issue age.
7NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Table Shaving
• Up to $5mil ages 0-75• Table ratings up to table 4
regardless of cause
• 50male, 5’10” 290 pounds = Standard!• 65female, adult onset 10year insulin
dependent diabetic good control = Standard!
• 65male, mild CAD, 1 vessel angioplasty 2 years ago = Standard!
When a person applies for life insurance coverage, his or her health is evaluated and a corresponding underwriting rating is applied. This product’s table shaving features allow certain substandard underwriting rates (known as "table ratings") to be improved to a "standard" rating. A "standard" rating generally indicates average health and involves a lower life insurance premium than do substandard ratings.
8NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Conditionally Guaranteed Premium BonusTarget premium $1,000
Paid premium: $800/yr
Premium Years 1-10 $800
Average Paid Premium(800 x 10/10)
$800
Premium Bonus Cap(120% x $1,000)
$1,200
Premium Bonus$800 is less than premium bonus cap
$800
Credited to account value in years 11-1520% x 800
$160
No Loans or Withdrawal can be taken
9NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Interest rate rise in years 11-20 and 21+
The information presented is hypothetical and not intended to project investment results. Illustration is not complete unless all pages are included.
10NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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More attractive features
• Chronic Illness Accelerated Benefit Rider
• Age last birthday
• Automatic Distribution Option
• Attractive target premiums with 2-year rolling targets
• Over loan protection benefit
• GPT or CVAT
11NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Markets• Business
– Key Person
– Buy Sell
– Executive Bonus
• 1035 exchanges• Juveniles• Possible rated clients • Retirement funding• Annuity Max
•Excess Funding with cash value growth an objective
•Potential substandard risks
12NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Retirement SupplementTips and Considerations
• Typically solve for minimum DB and max income.
• Consider Waiver of Surrender Charge Option
• Consider Increasing or Level death benefit option
• Consider GPT or CVAT
13NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Strong Targets
Conditionally guaranteed Interest and Premium Bonuses
Guaranteed surrender value
Retirement Income stream
The information presented is hypothetical and not intended to project investment results. Illustration is not complete unless all pages are included.
14NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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OR….
More protection during working years
Higher Targets
Larger Conditionally guaranteed Premium Bonus
Retirement Income stream
The information presented is hypothetical and not intended to project investment results. Illustration is not complete unless all pages are included.
15NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Annuity Maximization
• Transferring values in short time frame to life insurance
• Balanced goal of death benefit and access to cash value
• Consider funding with 5-pay SPIA (single premium immediate annuity)
• Remember Rapid Request!
16NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Table 4 shaved to standard
Leveraged death benefit
Access to cash values
Conditionally guaranteed Premium and Interest bonusesChronic Illness Accelerated Benefit Rider
The information presented is hypothetical and not intended to project investment results. Illustration is not complete unless all pages are included.
17NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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When to use?
• For non-indexed UL cash value growth
• For over-funding, short funding, or lump sum cases
• When guaranteed death benefit not needed
• For possibly rated cases
• For early cash value
• For juveniles
18NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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What next?
• Familiarize yourself with the product– Marketing Guide PR-1130
– @ A Glance PR-604
• Update software and run some illustrations• Discover sales opportunities• Build the case
• GROW your sales!
19NG260 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
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Sales Support
800-800-3656, ext. 10411