Offering Beneficiary Reviews

January 2, 2024

Beneficiary reviews give you the opportunity to check in with current or prospective clients. They can often lead to new sales opportunities. Learn how you can offer this critical, value-added service. 

Questions for Clients 

Help clients align their beneficiary designations with their wishes, while addressing changing financial priorities. Start by asking:

  • Are the beneficiaries correctly listed? This is important if their marital status changed.
  • Have you selected contingent beneficiaries?
    • If a primary beneficiary is unable to collect or predeceases a client, benefits go to a contingent beneficiary.
  • Are you worried about the tax burden and financial responsibilities left to beneficiaries with a lump sum payout?
    • Discuss how they would like the proceeds at death structured.
       

Questions for Producers 

Initiate a review to uncover clients’ needs. This helps you establish yourself as a trusted advisor and leads to potential sales. Start by asking:

  • Are your annuity products meeting your financial needs?
  • Do you want to setup how proceeds will be distributed to your beneficiaries by using a restrictive endorsement?
  • Has your deferred annuity account value substantially changed?
  • Do you have friends or family members that need help with a beneficiary review? 
     

Client-Friendly Flyer 

Download this flyer to lead your beneficiary reviews.

Offering Beneficiary Reviews flyer image

More About Sales Insights & Tools
Maximize your earnings with our Internal Transfer Program, offering full commissions on most internal annuity transfers for clients aged 85 and younger. Use our annuity portal to review policies, avoid transfer hassles and earn full first-year commissions while increasing client satisfaction.
The 50/30/20 allocation model using fixed index annuities offers a strategic alternative to the traditional 60/40 portfolio. Find out how FIAs can become a valuable addition to a balanced investment strategy.
Paul Garofoli shares a strategy for clients to leave a legacy without underwriting, using the Legacy Max Enhanced Death Benefit Rider. This approach helps clients convert “live on” assets into “leave on” legacies, ensuring their financial plans benefit future generations.
Concerned about potential declines in long-term yields and participation rates for fixed indexed annuities? Take advantage of the current higher rates offered by the Enhanced Choice Index Plus Series to save your clients thousands before rates drop.
Now might be a great time to consider a fixed index annuity before interest rates drop. The Index Select Annuity 7 offers a 65% participation rate in the S&P 500® Index gains without any downside risk, plus a 5.00% fixed interest crediting option.
Join us in celebrating the one-year anniversary of the Enhanced Choice Index Plus! Its many options make it a powerful tool to protect and grow clients’ assets.
Knock your next sales meeting out of the park using “Score Big With Legacy Max.” Find out more about what it is, how to use it and where to find it.
As the world becomes more interconnected, so does the need for coverage. Find out how you can offer annuities to foreign nationals working for a company in the United States.

Related Products or Services

Doing business with The Standard is good for you and your clients. Our annuities offer innovative product design, desirable rates, competitive compensation, high industry ratings and excellent service.