TIP OF THE MONTH
(August 2003)
Sales Tip
The cost of waiting to buy long term care is a
important point to illustrate if someone wants
to wait.
Point #1 Your
health ... Right now today you are healthy and can qualify for coverage. At any
time
from this moment forward your health could change and you could no longer
qualify for coverage
regardless of the amount of premium you are willing to pay.
Point #2
Cost ... Every year, on your birthday, the cost to buy a policy increases. If
your 58
and wait until age 65 to buy a policy the cost is 50% higher. If you wait until
age 72 the
cost is 158% higher. As you can see the cost waiting is expensive. Regardless of
the number
of years you would pay for coverage, the total cost
will always be less than one year of care.
Equity Index Annuities with a
first year bonus (BIA's) are big sellers at index annuity companies.
BIA's accounted for over half
of the total index annuity sales in the first half of 2003. One of the
best products is the Premier
Plus Annuity from American Equity.
Why the Premier Plus?
- 6% Premium bonus on the initial premium.
(1st year yield 9.45%)
- Minimum guarantee is 3% on 100% of the
premium.
- Diversification with 4 strategies: S & P
point to point, S & P monthly average,
Lehman Brothers U.S. Treasury
and the Fixed Account.
- Competitive Compensation.
- 100% of your principle back in 4 years
after charges (eliminates fear of locking up money to long)
- Full account value at death (no surrender
charge)
- Nursing care and terminal illness riders.
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