The Power of Beneficiary Reviews

Beneficiary reviews are a simple, effective way to stay connected with clients while addressing life changes that may affect their financial plans. This guide provides practical questions to help you lead thoughtful conversations, strengthen client relationships and uncover potential planning opportunities. 

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 set up 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?
   

Download and use this sales concept flyer.