Assets that pass to certain non-spouse beneficiaries will greatly increase the taxes on IRAs when passed to the next generation. Distributions must be taken within 10 years of the death of the IRA owner. This may cause a huge deferred tax liability. Find out how life insurance can help. Learn more
Even with a lifetime of planning and hard work, Baby Boomers still face new responsibilities, including financial support for adult children, healthcare needs, and lifestyle upgrades. There are many opportunities to approach this generation with life insurance solutions. We’ve got some resources here to get the conversation going.
Make It Personal
They want to develop personal relationships in both personal and professional lives.
Create face to face opportunities to get to know as much about them as you can – families, interests, birthdays, etc.
They appreciate experience, credible company reputations, brands, etc.
Acknowledge both yours and your clients credentials, experience and success as well as affiliated company credentials.
See the Big Picture
They like to have a long term plan
Recommend a tailored long term plan that is specific to their personal needs / situation.
Be a Team
They like contributing to a team effort.
Focus on common goals and how your recommendations will add value- you are on their team.