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Are Your Clients Offered Enough Life Insurance at Work?


When your clients switch jobs it can be exciting, yet stressful. Many new hires are bombarded with new information and need to make decisions that not only impact themselves, but also their families. Learning about a new company’s benefits can be a daunting challenge and could leave your clients wondering if they’re getting enough life insurance from their employer.

Typical life insurance coverage at work is one to three times a person’s salary.1 While some may think they’re satisfied with their employer’s life insurance policy, it’s often not enough coverage. Granted, there are advantages for your clients to purchase policies through their employment. Advantages such as:


- Convenience: getting coverage through an employer can be an easy way
  for your clients to protect themselves and their families.

- Price: company policies can sometimes be a great deal, often providing
  better rates.

- Acceptance: employees with medical conditions may qualify for a better rate.

On the other hand, individuals might also face downfalls with having one avenue of coverage through their employer. Downfalls may include:

- Nontransferable: typically employer offered group life insurance isn’t
  portable. Individuals are unlikely to stay with the same employer for their
  entire career and would have gaps in their coverage. Some have the option
  to convert their policy, but what if they can’t afford it?

- Coverage isn’t offered at new employment: Your client’s next job might not
  offer group life insurance or the policy isn’t large enough for their spouse
  and dependents. Individuals could go and purchase an individual policy, but
  costs could rise as they age. There is also the possibility of developing a
  medical condition that could raise rates or make it difficult to get coverage.

- Limited coverage: Your clients might be limited to how much coverage they
  can purchase.


Even though some are content with their life insurance coverage through work, individuals need to understand how additional coverage could benefit them. Capitalize on the potential downfalls and gain an edge with your clients to entice them to purchase an additional life insurance policy if it’s right for them.



1. https://www.lifehappens.org/blog/4-things-you-probably-dont-know-about-your-life-insurance-at-work/



Help your client build an above average future with our newest product.


We’re excited to bring you and your clients our newest Indexed Universal Life insurance product, Builder Plus IUL – not the average life insurance solution! Not only can Builder Plus IUL help provide your client with death benefit protection, it features stronger performance and marketability, along with all the other features you love about our IUL products.

So, what similarities does Builder Plus IUL share with other IUL products?

-  Death benefit protection
-  A compelling choice of index selections and crediting methods
-  Guaranteed interest Rate Bonus on the indexed account
-  2.5% minimum account value trued up every 10 years
-  Index credits based on the beginning segment value regardless of charges
   throughout the year

-  Index credits on the first annual statement
-  Protected death benefit feature
-  Accelerated Death Benefit Endorsements for terminal, chronic and critical
-  Policy charges waived when receiving the chronic illness benefit (now up to
  $2 million net amount at risk on Builder Plus IUL)


What sets Builder Plus IUL apart from the rest? We’re glad you asked.

-  Account Interest Multiplier2 on fixed and indexed accounts starting in year 6
-  Increased interest bonus3 applied in years 11+ to 1%
-  Added Return of Premium Death Benefit*

-  Allows variable interest rate loans4 in year 1 available on day 1

-  Shortened surrender charge period schedule to 10 years

-  Raised Accelerated Death Benefit maximum acceleration amount to $2 million
-  Both permanent and temporary chronic illness benefits
-  Even stronger performance potential
-  Add Commission Option B

These added benefits put the “Plus” in Builder Plus IUL, and can help strengthen your client’s financial strategy by providing death benefit protection, an opportunity for stronger long-term cash value growth, supplemental retirement income, and an opportunity to access a portion of the death benefit while living if they were diagnosed with a serious illness. With all these features, you can have confidence that your client is getting the most out of their IUL product. Speaking of clients…

We have created a great consumer video that you can share with clients as you’re discussing this exciting new product. View it here!

Builder Plus IUL is approved everywhere but California and Delaware. Help build an above average future for your client, and your sales, with Builder Plus IUL. Check out our many client and agent tools and resources to get started today.


*Subject to eligibility requirements.


1. Accelerated death benefits are automatically included at policy issue for no additional premium, subject to eligibility requirements. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated. This feature allows the owner to advance a portion of the death benefit if the insured meets the requirements described in the endorsement form. The endorsement may cover critical, chronic and terminal illness depending on product and state. Refer to the specific product guides or www.NorthAmericanCompany.com for more information.

2. Account Interest Multiplier is applied after interest credit or index credit is determined and before any interest bonus. It is not applied to the interest bonus or any portion of the Account Value that is Policy Debt or the Minimum Account Value. The multiplier is guaranteed on the index account, and conditionally guaranteed on the fixed account.

3. Certain North American products offer a conditionally guaranteed interest bonus to further help your clients build long-term cash value accumulation. An interest bonus may be earned when we declare a current interest rate that exceeds the guaranteed interest rate. The interest bonus is guaranteed on the indexed account, and conditionally guaranteed on the fixed account. Interest bonus percentages are not guaranteed and subject to change, however, once a policy is issued, the percentage will not change. For standard policy loans the interest bonus is not applied to any loaned amount.

4. The net cost of a variable interest rate loan could be negative if the credits earned are greater than the interest charged. The net cost of the loan could also be larger than under standard policy loans if the amount credited is less than the interest charged. In the extreme example, the amount credited could be zero and the net cost of the loan would equal the maximum interest rate charged on variable interest loans. In brief, Variable Interest Rate Loans have more uncertainty than Standard Policy Loans in both the interest rate charged and the interest rate credited.

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

Builder Plus IUL (policy form series LS183) and Accelerated Death Benefit Endorsement for Critical, Chronic Illness and Terminal Illness (form series LR503, or state variation) are issued by North American Company for Life and Health Insurance, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, riders, endorsement or issue ages may not be available in all jurisdictions. Restrictions or limitations may apply.



Life Insurance Strategies for Your Clients



There are various options for life insurance, and if your clients asked numerous financial professionals, their opinions might differ. That’s why it’s important to understand the needs of your clients and determine which life insurance policy is best for them. Let’s look at a few strategies that could benefit your clients:


It can be there for a lifetime: Life insurance can offer your clients death benefit protection for their entire life. Regardless when they pass, they can be protected and be able to keep their financial goals on track.


Life insurance can potentially earn cash value: With the financial security of death benefit protection, your clients have the opportunity to grow a strong, long-term cash value. Your clients could have the flexibility to access their cash value and have the freedom to withdraw and spend the money as they choose.


Protection from the market: Your clients have the opportunity to earn interest based on the performance of the market index. They don’t participate directly in the stock market, meaning the interest credit is never less than zero percent in a poorly performing market. But the interest amount credited is subject to a cap rate, which is the maximum interest rate used to calculate the index credit.


Flexible premiums: Life insurance can offer incredible flexibility. Your clients can contribute more money to their policy and also adjust their premiums and coverage as their needs change.


It’s easy to get caught up the various benefits of life insurance, but focusing your client’s needs can help decide which policies are best for them. Honing in on certain strategies or talking points can also develop trust and a strong response from your clients.





Spring Cleaning Time


Now that spring has sprung and April showers will hopefully wash away the grime of
winter, it’s a good time to do some spring cleaning around your office. It’s a good time
to physically tidy up the office surrounding, but also the perfect time to clean up you
business environment too.

Tips to Get Your Business Cleaned Up
If you keep physical files, make sure they are organized. At least once a year, take
some time to clean out any old files. On the North American website, use the advanced
search on the Inforce Business Access page to sort by policies that have lapsed,
matured, or had a claim paid. This will help to easily identify some files you might be
able to purge.

Digitize what you can. Use a scanner to make electronic copies of documents that are
worth keeping, but not necessarily in a physical format. Also, once saved, be sure to
back them up in more than one location.


Clean up your email inbox. Sort through your inbox and then delete what you do not
need. Make use of folders to organize emails you intend to keep. Name the folders so
that you can easily identify what type of information should be located there.


As the birds sing and the flowers bloom, you too will be singing a happy tune with a
well-organized and spruced up business environment.




What Will Your Clients Leave Behind?



Benjamin Franklin once said, “…nothing is certain except death and taxes.”1 Regardless of the life you have lived, it’s not a question about “if”, it’s a question of “when”. But being prepared for the inevitable begins by having a will and death benefit protection.

Nearly everyone has an estate regardless of how significant. Your client’s estate is comprised of everything they own – their car, home, investments, or personal possessions. By not having a strategy, your clients could be missing crucial ways to pass along money or assets to their beneficiaries. Let’s explore a few scenarios you can share with your clients.

1. Your clients are blessed with grandchildren and may start thinking about how they can help them financially when they get older. They may not have a lot of excess income after taking care of their retirement savings and the amount your clients have left over might not feel like much when split between the grandchildren. One way your client can leverage their income is to purchase life insurance and have the death benefit be left to their grandchildren. The benefit is available from the day the policy is put into place, and the death benefit could potentially be larger than any amount your client could save.

2. Your client owns a business for over 30 years and wants to keep it in their family to own and operate. One of their three children are interested in taking over the business, but your client wants their children to receive equal amounts as an inheritance. Besides the business, your client doesn’t have a lot of assets and would feel guilty if the business had to be sold to provide an equal share of inheritance. To help relieve this guilt, your client can take out a permanent insurance policy with a death benefit worth a value of twice their company’s worth and make the beneficiaries the two children who don’t want ownership of the business. Upon your clients passing, one child would get the business and the other two would split the death benefit. By leveraging your client’s money using insurance, all their children would receive an equal share of inheritance and the business could still be owned and operated by the family.

These are just two ways life insurance can be used to provide death benefit protection your client needs to leave a lasting legacy.




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