Presentation Options to Help Close Your Next Case

Have you ever wondered how AgencyONE comes up with terrific Case Design comparisons for your clients’ cases? AgencyONE has access to and uses the latest (and best) technology available to provide you and your clients with accurate and thorough information to help in the decision-making process. The resources and platforms we use can provide comparisons from the simplest to the most advanced marketing strategies available. In this ONE Idea, we will discuss and provide samples of our most popular comparison tools.

Term Quote Options – The Quote Engine

AgencyOne uses a Term life insurance Quote Engine through iPipeline. iPipeline is a platform that offers simple, immediate, and accurate quoting for “hundreds of insurance products through the industry’s leading quote engine”. AgencyONE is happy to run any comparisons you need, but if you prefer you can run them yourself quickly and easily through the iPipeline Quote Engine tool on the AgencyONE website. You can find the Quote Engine under the New Business tab on your AgencyONE Advisor Dashboard. This tool shows pricing for multiple carriers, underwriting classes, and durations, and can be as simple or complex as needed since we have the ability to custom-build your comparison. The attached sample quote shows $500,000 of 10, 15 and 20-year term and includes the top 3 options for a Preferred underwriting classification. This is an option that is straightforward and easy to run.

Permanent Quote Options

AgencyONE also has a variety of resources available for quoting Permanent life insurance options. These include Winflex, Ensight, and Insmark. We can also accommodate any custom request you may have since we regularly build custom comparison sheets. We can easily modify these sheets for Guaranteed UL, Indexed UL, Income solves and anything else you may need. Following are a few examples to review.

WinFlex / Ensight

AgencyONE employs the WinFlex Insurance program, which is a multi-carrier software program, that allows us to run multiple carrier illustrations through ONE single system. We recently began using the Assurance Ensight tool in some of our presentations. Ensight works with the Winflex platform and takes complex concepts from the illustrations and distills them into an easy-to-understand one-page format for you to present to your clients. The AgencyONE Case Design Team quickly created this presentation searching for top Guaranteed UL options. While they can build this presentation out into a much more elaborate comparison or use different product types, this example is a quick and easy way to benchmark product and cost. The one-page sheet displays:

• Carrier;
• Death Benefit;
• Annual cost;
• Benchmark IRR on Death Benefit percentages; and
• PDF links to the underlying illustrations if needed.  

The Winflex/Ensight presentation offers a highly efficient way to search cost on a case and provides the information in a very easy-to-view format for your client.

Custom Comparisons

If you are working with AgencyONE, you have probably received at least one of our custom comparison builds. These custom presentations can be modified to meet the parameters of ANY case. If you have a case that requires a summary to show multiple carriers and product types, the AgencyONE Case Design Team is ready to do this for you. Below for your review are two comparisons that AgencyONE recently designed for an advisor. 

1.      Universal Life with Long Term Care

The first comparison is built to show a comparison of individual coverage for a husband and wife looking for $500,000 of death benefit with an added LTC/Chronic rider. This sheet displays Universal Life, Indexed UL, and Guaranteed UL options and shows:

• The annual premium;
• Guaranteed and current ages of coverage;
• Monthly LTC amount;
• Projected cash values; and
• IRRs on the death benefit. 

The beauty of this presentation is that it can be modified in any way you require!

2.      Comparison of Income Solves

The second comparison is based on a 4-year annual premium of $125,000. This solves for a minimum non mec death benefit and shows the previous AG49 max crediting rate, target, projected income, and surrender/death benefit values in years 15, 20 and 25. Again, this report can be modified to suit your client’s specific case needs.

InsMark

AgencyONE also uses a report from the InsMark platform. This report explains to your client the impact that investing instead of buying life insurance has on their financial plan. It lays out two side-by-side options:

1.      Invest in the equity market; and

2.      Purchase life insurance for death benefit and the added benefit of tax-free income. 

When creating this report, we can structure the equity account with a specified rate of return, sales and management fees, portfolio turnover percentage and current tax rates. The report also shows how that account grows over time and distributes the net income taken from the life insurance. 

Pages 1 and 2 of the report show the client’s seven $50,000 annual contributions. Assuming both options obtain a 6% return you can see the accumulated value of each option. The life insurance provides a death benefit that far exceeds the amount of the premium contribution. This is a huge benefit if the client dies early! Page 2 of the report shows that the equity account runs out of money when the client is 77 years old, while the life insurance policy continues to distribute income! Pages 3 and 4 of the report show the details of the portfolio turnover and the effect of taxes. The equity account is taxed along the way and during the income phase. These are very powerful comparisons to show any client, especially one who is against the idea of purchasing Life Insurance!

AgencyONE is ready to create any custom comparison including options that compare product, advanced sales concepts, accumulated side funds, and anything else you may need to help you satisfy the needs of your client’s financial planning. These are just a few of the comparison tools that AgencyONE uses to make sure you are presenting your case to the client in the best possible light and remaining highly competitive in this challenging marketplace.

Please contact AgencyONE’s Case Design Department at 301.803.7500 for more information or to design a case.