Develop your Retirement Planning Sales
Help Clients Meet Their Retirement Planning Needs
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Looking for a great way to help you increase sales? Consider the retirement planning strategy. The retirement planning strategy uses permanent life insurance to provide clients with death benefit protection while offering the potential to supplement their income during retirement.
- Ages 30-60
- Need for death benefit protection
- Middle to high income earner
- Concerned about family's financial needs if death occurs during work years
- Looking to supplement retirement income
- Self-employed, member of a partnership, or corporate-employed
- Death benefit protection during both working years and retirement years. Cash values inside of a life insurance policy grow tax-deferred.1
- No income contribution limits and generally tax-free withdrawals and loans to the cost basis (assumes non-modified endowment contract status, or MEC).2,3,4,5
North American is here to support your sales effort. Please contact us today at 800-800-3656 ext. 10411 or email firstname.lastname@example.org to learn how to put this powerful strategy to work for you.
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.
1. The tax-deferred feature of universal life or indexed universal life insurance is not necessary for a tax-qualified plan. In such instances, your client should consider whether other features, such as the death benefit and optional riders make the policy appropriate for the client's needs. Before purchasing a policy, your client should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product.
2. Neither North American Company for Life and Health Insurance nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.
3. In some situations, loans and withdrawals may be subject to federal taxes. North American Company does not give legal or tax advice. Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation.
4. Income and growth on accumulated cash values is generally taxable only upon withdrawal. Adverse tax consequences may result if withdrawals exceed premiums paid into the policy. Withdrawals or surrenders made during a Surrender Charge period will be subject to surrender charges and may reduce the ultimate death benefit and cash value. Surrender charges vary by product, issue age, sex, underwriting class, and policy year.
5. For most policies, withdrawals are free from federal income tax to the extent of the investment in the contract, and policy loans are also tax-free so long as the policy does not terminate before the death of the insured. However, if the policy is a Modified Endowment Contract (MEC), a withdrawal or policy loan may be taxable upon receipt. Further, unpaid loan interest on a MEC may be taxable. A MEC is a contract received in exchange for a MEC or for which premiums paid during a seven-year testing period exceed prescribed premium limits (7-pay premiums).
For full product information, please refer to the current Builder IUL series marketing guide and the current Survivorship GIUL marketing guide. Builder IUL is issued on policy form series LS172, and Survivorship GIUL is issued on policy form series LS171 without the Waiver of Surrender Charge Option and policy form series LS171W with the Waiver of Surrender Charge by North American Company for Life and Health Insurance, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, issue ages, endorsements or riders may not be available in all jurisdictions. Limitations or restrictions may apply.
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.