PAT Sales Process

1) At the second meeting we will present the personalized PAT Plan to the client and his/her confidant. We will answer all questions and you will be prepared to take a life insurance application and start the underwriting process. The oringial owner of the application will be the insureds. The final owner will be the retirement plan when created or amended.

2) Application is faxed to GSL and also sent by mail to GSL. The agent will tell the client that the medical service will call in the next few days to set an appointment for their medicals.

3) The agent must prepare the client for the interview with the inspection service. The client must be prepared to slightly overstate their net worth so that the clients can qualify for the insurance given the financial justification guidelines. Understandably, clients can feel reluctant to share personal and financial information with a stranger. You must prepare your client for this call. The insurance company will order this call as part of the underwriting process.

4) GSL Advisory orders Medical exam and medical records on client. Medicals are usually completed by the client within two weeks. Medical records can take up to a month to receive depending the response time of the client’s doctors.

5) The insurance company approves the amount of insurance for client.

6) Agent will ask client to write $2,000 check for legal expense of retirement plan work. The retirement plan will be created within approximately 7 days after the $2,000 check is received by GSL Advisory.

7) The newly created client retirement plan is sent to agent for client’s signature.

8) If you are transferring funds from an IRA account, open a new retirement plan checking account. The account should be set up as a profit sharing account with a the client as the trustee. Therefore it should be entitled John Doe, Trustee for John Doe Profit Sharing Plant.

Most brokerage houses can set up new account and transfer assets and write a premium check within two weeks. You do not need to wait until checks are received on the account. You can direct the brokerage company to cut the first premium directly to the insurance company.

9) Two applications are taken (one with you as the agent and one with GSL as the agent) with the retirement plan as owner and beneficiary of insurance policy. You can also have one owner if GSL and you are both agents on the application. Pick up the check for the premium at this time. The policy should be issued by insurance company within 2 weeks of receiving new applications.

10) The insurance policy is sent to agent. The agent will need the client to sign delivery statement and policy amendments.

PENSION ASSET TRANSFER (HOME) • CONFERENCE CALL • CLIENT FACT FINDER
SAMPLE PRESENTATION • WHO BENEFITS • WHO ARE WE?
HOW TO GET STARTED • FREQUENTLY ASKED QUESTIONS
STEPS TO CLOSE • CONTACT US • TESTIMONIALS • SEMINAR