Corporate Sales

by Bear
(Baton Rouge, LA)

I am a personal lines P&C guy wanting to transition into more life sales. I am thinking about marketing Buy/Sell life insurance and Executive Bonus Plans to private companies. Has anyone done this with success?

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Buy and Sell, Bonus plans for Corporate sales
by: Ted

Hi Bear;

This is a great market to work your way into it. I put many buy and sell agreements together, as well as some bonus plans.

The way I learned about this was by going to library and find as many books as I can and read about these concepts. There is a saying that if you spend 5 hours a week learning about something, you will be a expert in 5 years.

If you never ask, the business owner will never know. Tell them, you specialize in business continuation plans. (vs buy and sell) Find examples of business's that were ruined by the lack of buy and sells and carry them in your presentation folder. Deferred comp and section 303 are some good bonus plans, and there are many more tax favored plans for owners.

Don't limit yourself to corporate. Partnerships and LLC. Sole Proprietors are very good. Get owner to make his business available to a key employee that he does not want to lose. This provides an instant market and funds to the family for the sole proprietors family. And the cash value can be used as a down payment if owner wants to retire early, before he dies. Many, many opportunity's. Go for it.

Ted

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