To view this email as a web page, click here.                                                                                                      October 1, 2007

Aloha! Just a quick note to say "bon voyage" to our valued producers who qualified for the 2007 BISYS Leaders Summit. They will be joining us this week on Hawaii's Big Island at the 32-acre Fairmont Orchid resort for three days of exciting activities and unique excursions. 

While the amazing location and official dates for the 2008 BISYS Leaders Summit are still a secret, the ability for you to earn points toward qualification is already underway! The 2008 eligibility period started on July 1st, so the cases you place now are laying the ground work for your ticket to the next Leaders Summit. Complete details on our fabulous location and qualification criteria will be coming to you soon!

Liz Weber, SVP, Advanced Markets
The Potomac Group

ING
- ING Corporate VUL (ING CVUL): What’s Happening and When?

Phoenix
- Understanding the High-Net-Worth Business Owner

Principal Life
- Repriced Principal UL Protector III (2007) and Principal SUL Protector (2007)

MetLife
- Changes to the External Term Conversion Program

Prudential
- SUL Protector 2007 Has Been Repriced

Case of the Week: IRA Maximization

Background – As household wealth increases, IRA’s account for less of a family’s overall net worth. Many affluent taxpayers have no plans on tapping their IRA’s to support their lifestyles during retirement. Instead, they earmark their IRA balances for an ultimate transfer to their children or grandchildren at death.  Unfortunately, the IRS has other plans!

The Problem – The client was a widower in his early 70s with a $10M+ net worth. The reality of settling his deceased wife’s estate convinced him that he needed to revise his own estate plan. The client and his deceased spouse had not yet revised their wills and she died with a typical “I love you" will that left everything to her husband without taking advantage of her lifetime exemption.

The client had a $1M IRA that he did not need and preferred to leave it to his children. He was also getting annoyed with calculating the Required Minimum Distributions. The agent pointed out that because of both estate taxes and the tax on Income in Respect of a Decedent, his children were only going to receive about $0.34 for every $1.00 in his IRA! The client agreed that it did not make sense to let the IRA continue on its present course and asked the agent for recommendations.

The Solution – This case was tailor-made for the IRA Maximization concept where you sell the assets in the IRA (a non-taxable event), purchase an annuity and use the cash flow from the annuity to purchase life insurance within a Wealth Replacement Trust.  Ask us for more details!

 

 

Upcoming Calls and Events

Teleconference: John Hancock VUL is Simply Better!
Date: October 2, 2007 - 3:00 pm EST
Register Now or call 888.241.1254

Teleconference: Underwriting Enhancements at
Banner Life
Date: October 4, 2007 - 3:00 pm EST
Register Now or call 888.241.1254

Register Online!
2007 Annual Meeting - Scottsdale, AZ
Date: October 28-30, 2007
View the Agenda
View the Informal Inquiry

 

carrier incentives

American National
- ANICO’s 2008 Marketing Conference in Hawaii

Exclusively for Potomac Group Producers:
-  Create Your Own On Hold Phone Message
-  Custom Interactive Business Cards

 

questions?

Call The Potomac Group at
800.722.1600, ext. 6446 for more information.
 

For Producer use only - not intended for use in solicitation of sales to the public. Products and programs offered through BISYS are not approved for use in all states. As a BISYS producer, you will receive emails occasionally to update you on BISYS services and carrier news. In the future, if you no longer wish to receive these email updates, please click here to unsubscribe.  10.07  TPG.130.1  

The Potomac Group, 6550 Rockspring Drive, Suite 320, Bethesda, MD 20817