MetLife Life Insurance Selector
MetLife Life Insurance Selector
Clarifying Life’s Choices
PIPAC LIFE S i
PIPAC LIFE Symposium
October 12, 2010
Octobe , 0 0
Outline
New Normal
Key Benefits
Key Link
Lif I S l t
Life Insurance Selector
Three Step Process
Marketing Materials Marketing Materials
New Normal
48 million American households feel they need more life
insurance, yet many will not buy for a number of reasons 1
52% find it difficult to decide how much to buy
43% worry about making the wrong decision
Americans are Underinsured
The average American household has only 4.1 times income protected
in life insurance
2in life insurance
Two out of three spouses would suffer a loss in living standards were
their partner to die immediately
3New Normal
2010
1979
1990 2000
1970 1980
Whole Life
Whole Life Whole Life Whole Life
Term
Term Term Term
Variable Universal Life
Variable Universal Life
Universal Life
Universal Life
Survivorship Life
Survivorship Life p p
Key Benefits y
What if there were a way to help people understand which life insurance policy is
best for them in an objective manner that is as straightforward and easy as asset
best for them in an objective manner that is as straightforward and easy as asset
allocation?
To Clients:
Simplifies and demystifies the process
Confident about making the right decision
To Prod cers
To Producers:
Actively engages clients in the product selection process
Makes selling more face amount and more permanent insurance
less difficult
Sets up future term conversions
Sets up future term conversions
Increases producer confidence
Increases new producer productivity
Key Link
The Sales Process:
y
Fact Finder
Fact Finder Uncover Need Uncover Need Quantify Need Quantify Need Suitability Profile Suitability Profile Product Product
Recommendation
Recommendation
Investments Retirement &
Savings
Calculators
Retirement &
Savings
Calculators
Asset Allocation
Calculators
Human Life Value
Calculators
Whole Life
Life Insurance
Human Life Value
Capital Needs
Income
Replacement
Term
Variable
Universal
Life Insurance Selector Process
Step I: Simplifies decision for “how
much”
much
Step II: Recommends appropriate
term vs perm mix by
term vs. perm mix by
illuminating benefits of
permanent insurance
Step III: Recommends appropriate
permanent policy based on
client’s preferences
client s preferences
Step I. How Much is Enough?
Objective
Objective
Get to the proper face
amount
How? Three Ways
1. Simplified Human Life
Value chart in
questionnaire, estimates
insurance need
2. Full Human Life Value tied
t M tWINS i
to MetWINS version
3. Or use other methods to
determine amount of
coverage
coverage
Step II. Insurance Portfolio Allocation
Obj i
p
Objective
Determines how much term and how
much permanent
How? Eight Questions!
Measure client attitudes…
Who relies on them now & in future
Financial obligations in retirement
Legacy goals
Legacy goals
A Blended Recommendation
Portfolio based on client’s answers
Portfolio based on client s answers
Educates the client on the benefits of permanent insurance
Makes it less hard to sell more blended cases
Sets up future term conversions
Step III. Permanent Insurance Allocation
Objective
p
Objective
Determine which type of permanent policy
is best
How? Six Questions!
Measure client’s preferences…
Guarantees vs flexibility
Guarantees vs. flexibility
Tolerance for market volatility
Retirement goals & savings strategies
What Kind of Permanent Insurance?
Five possible recommendations based on client’s responses
Universal Life
UL or WL
Whole Life
WL or VUL
Variable Universal Life
Further promote the benefits of permanent insurance
Helps clients remember the types and features of different permanent
Variable Universal Life
Helps clients remember the types and features of different permanent
Set Up Future Term Conversions p
A client’s budget may require less
A client s budget may require less
permanent coverage and more
term today…
But think about what the selector
helps your producers do!
helps your producers do!
Client now has a reason to own
permanent insurance
Producers have a starting point for
Producers have a starting point for
an annual review and future
conversions
Marketing Materials g
Client Brochure Questionnaire Producer Guide MetWINS Ouput
Defines Strategy
to the client
How much
coverage is
needed
How the make
recommendation
Compliments
questionnaire
needed
Which type or
blend of life
insurance is
appropriate
How to score the
questionnaire
Utilizes Human Life
Value
Automated scoring
Personalized
appropriate recommendation d ti
Important Information
Pursuant to IRS Circular 230, MetLife is providing you with the following notification: The information contained in this document is not intended to (and cannot) be used by anyone to avoid IRS penalties. This document supports the promotion and marketing of insurance products. Your clients should seek advice based on their particular circumstances from an independent tax advisor.
MetLife, its agents and representatives may not give legal or tax advice. Any discussion of taxes herein or related to this document is for general information purposes only and does not purport to be complete or cover every situation. Tax law is subject to interpretation and legislative change Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances You change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances. You clients should consult with and rely on their own independent legal and tax advisers regarding their particular set of facts and circumstances. Prospectuses for Equity Advantage Variable Universal Life, and for the investment portfolios offered thereunder, are available from MetLife. The policy prospectus contains information about the policy’s features, risks, charges and expenses. The
investment objectives, risks and policies of the investment options, as well as other information about the investment options, are described in their respective prospectuses. Clients should read the prospectuses and consider this information carefully before investing. Product availability and features may vary by state.
MetLife Investors variable life products have limitations, exclusions, charges, termination provisions and terms for keeping them in force. There is no guarantee that any of the variable investment options in this product will meet their stated goals or objectives. The account value is subject to market fluctuations so that, when withdrawn, it may be worth more or less than its original value. All product guarantees are based on the claims paying ability and financial strength of the issuing insurance company. Please contact your financial professional for complete details.
Life insurance products are issued in by MetLife Investors USA Insurance Company, Metropolitan Life Insurance Company and, in New York only, by First MetLife Investors Insurance Company. All guarantees are based on the claims-paying ability and financial strength of the issuing
i V i bl d di ib d b M Lif I Di ib i C (M Lif I ) I i CA M h 2010
• Not A Deposit • Not FDIC-Insured • Not Insured By Any Federal Government Agency
insurance company. Variable products are distributed by MetLife Investors Distribution Company (MetLife Investors), Irvine, CA. March 2010
