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January 24, 2012 by SBS Marketingnone
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Life – Single Premium Whole Life
A Single Premium Whole Life plan (SPWL) could give your clients substantially more death benefit than what they had before. Many of our clients and potential clients have older (smaller) life policies that have accrued larger cash values over the years. When is the last time you took a few minutes to offer a “Free” Review of their life policies?
Baltimore Life offers a Single Premium Whole Life plan that allows a deposit as small as $5,000. With a minimum premium like this….it is your ticket to hop on board with Single Premium Whole Life sales.
Baltimore Life has released their Single Premium Whole Life plan in over 32 states. Ever wondered how to use a Single Premium Whole Life plan? Let’s say that you have a client who is a 65 year old female who does not use tobacco. She has $50,000 in a CD that she wants to leave to her grandchildren. Simply deposit that money into the Baltimore Life SPWL plan and now she can leave them $98,814.
Not sure if you have any clients that have that much in a CD? Not to worry. Let’s use the same 65 year old female, but this time she only has $7,000 in her savings account and she wants to use this to pay for her final expenses. She can take $5,000 out of her savings account and deposit that into the SPWL plan and now she will have a death benefit of $9,881.42. So what does she do with the other $2,000 that is left in her savings account. Simple answer… Whatever She Wants! You have now not only given her more funds to pay for her final expenses, but you have also freed up an extra $2,000 that she can use right now for whatever other expenses she might have.
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