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GBS Quarterly Sales Concepts | October 2022 Issue

Published on October 04, 2022

 

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Are Your Clients Aware of Sequence of Inflation Risk?

Retirees hoping to fund a steady lifestyle in retirement to supplement Social Security face the dual risks of not knowing how long retirement will last and not knowing how much prices will rise after they retire. A retiree is most at risk of inflation if it occurs during the first few years of retirement as a result of sequence of inflation risk. 

Inflation risk can be addressed through the use of an annuity with a guaranteed minimum withdrawal benefit income that rises as prices increase. The benefit of protection against longevity and inflation risk is peace of mind.

 

Leveraging Long Term Care Solutions in a Volatile Market

Positioning Long-Term Care Coverage is even more relevant in a volatile economy. There is a significant risk that comes with self-funding in a down market or high-inflation environment. When taking money out of a down market, you cannot let it grow back or grow forward --- a phenomenon that Wealth Managers consider to be a double loss. Linked Benefit Long-Term Care policies continue to be the largest growing segment of the Long-Term Care Market due to their flexibility regardless of the market environment.

 

CASE STUDY: Estate Taxes Opportunities for High Net Worth Foreign Nationals

In today’s global economy, High Net Worth Foreign Nationals often have ties to the US, owning Real Estate, business interests, US investment holdings and immediate family living in the US. Preserving and protecting wealth for future generations is a huge concern. A Foreign National who is a "Nonresident Alien” only has a $60,000 exemption for estate taxes compared to a US citizen 12,006,000. At a minimum, you should evaluate the tax exposure for your High Net Worth Foreign National and offer solutions that can provide liquidity for their heirs to pay estate taxes.

 

Group Term Carve-Out (GTCO) with

Guaranteed Issue Chronic Illness Rider

As a result of the “Great Resignation”, employers have shifted their focus to providing financial wellness options which will attract and retain top talent. According to a recent PwC survey, Long-Term Care is the leading benefit which employees felt was lacking from their current benefit package. One of the industry’s most prominent Group Term Carve-Out Platforms now offers the ability to add a Chronic Illness rider to their GTCO coverage with no additional underwriting. If your business clients offer an existing group term carve-out plan --- or are considering adding one --- we strongly recommend considering this unique opportunity to enhance their plan with an extremely important and valued benefit.

 

THANK YOU

 

We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966

For agent use only - not for use with the general public.

Corporate License No. 0D87913

21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

GBS Insurance and Financial Services, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

© 2022 Arthur J. Gallagher & Co. 

 

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