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2022 Pensions by Lafayette Life�“OWNER BENEFIT PLANS”

Mark Ditondo

Sales VP – Retirement Services

(800) 370-5584

mark.ditondo@lafayettelife.com

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For financial professional use only. Not for use with the public.

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The Lafayette Life Insurance Company provides services to pension plans as outlined in a separate Administrative Services Agreement, and issues life insurance and annuity products that may be used as funding options. This material is for informational purposes only. Lafayette Life does not serve as plan administrator or fiduciary, nor does Lafayette Life or its representatives provide ERISA, legal or tax advice. Your personal or legal tax advisors should always be consulted and relied upon for advice.

Lafayette Life does not provide legal or tax advice. The information herein is general and educational in nature and should be not considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Lafayette Life cannot guarantee that the information herein is accurate, complete, or timely. Lafayette Life makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, an any tax position taken in reliance on, such information. Please advise your customer to consult an attorney or tax professional regarding their specific situation.

The Lafayette Life Insurance Company, Cincinnati, Ohio, operates in D.C. and all states except New York.

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For financial professional use only. Not for use with the public.

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(Note that during the presentation the disclosure must appear on the screen long enough to be read or can be read aloud)

The Lafayette Life Insurance Company provides services to pension plans as outlined in a separate Administrative Services Agreement, and issues life insurance and annuity products that may be used as funding options. This material is for informational purposes only. Lafayette Life does not serve as plan administrator or fiduciary, nor does Lafayette Life or its representatives provide ERISA, legal or tax advice. Your personal or legal tax advisors should always be consulted and relied upon for advice.

Lafayette Life does not provide legal or tax advice. The information herein is general and educational in nature and should be not considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Lafayette Life cannot guarantee that the information herein is accurate, complete, or timely. Lafayette Life makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, an any tax position taken in reliance on, such information. Please advise your customer to consult an attorney or tax professional regarding their specific situation.

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Agenda

Overview of LLIC
Retirement Plan Options
What’s in it for THEM?
Life Insurance in Retirement Plans

Who do you know?
Prospecting/Leads
Questions?

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A.M Best: A+ Superior - Superior ability to meet ongoing insurance obligations (second highest of 13 ratings; rating held since June 2009)

Standard & Poor’s: AA- Very Strong - Very strong financial security characteristics (fourth highest of 21 ratings; rating held since August 2018)

Fitch: AA Very Strong - Very strong capacity to meet policyholder and contract obligations on a timely basis (third highest of 21 ratings; rating held since June 2009)

Note, Lafayette Life is not rated by Moody’s so that language cannot be included.

The Comdex Ranking is a composite of all the ratings a company has received from the major rating agencies. It ranks insurers on a scale of 1 to 100 (where 1 is the lowest) in an effort to reduce confusion over ratings because each rating agency uses a different scale. *The Lafayette Life Insurance Company is not rated by Moody's and has a 96 Comdex Ranking.

This may contain information obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor’s. Reproduction and distribution of third party content in any form is prohibited except with the prior written permission of the related third party. Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPENSATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS OR LOSSES CAUSED BY NEGLIGENCE) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice.��The ratings are current as of April 2021, and are subject to change. Ratings refer to the claims-paying ability of the insurance company and do not reflect the performance or safety of any investment product. The rating agencies listed above are independent of each other and use proprietary evaluation criteria and rating scales.

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Understand Effective vs. Marginal

Tax Deductions

Here:

Income Taxed Here:

See for Yourself:

https://smartasset.com/taxes/income-taxes

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The next couple of slides will help us understand how to navigate the headwinds we just discussed, so we can help business owners and their employees arrive at a better retirement destination.

There has been a lot of discussion about how taxes are on their way up and that you should focus on investments which will minimize taxation during your golden years. Two popular books on the subject are:

“Tax Free Retirement” (https://www.amazon.com/Tax-Free-Retirement-Anniversary-Patrick-Kelly/dp/0983361568)

And “The Power of Zero, How to Get to the 0% Tax Bracket and Transform Your Retirement”

(https://www.amazon.com/Power-Zero-Revised-Updated-Retirement/dp/1984823078)

Most of the discussion focuses on the top marginal bracket and neglects the fact that nobody pays the top marginal bracket on 100% of their retirement income.

Interestingly, and relevant to our conversation today, David McKnight suggests a “tempered” approach to qualified plans may be appropriate. That is, accumulate enough money so that the income from those qualified funds is right at the annual exemption amount, called “standard deduction” (in 2023 that number is $27,700 for a married couple). Then he mentions his safe withdrawal amount of 3% per year. That means a couple can have approximately $923,000 in a retirement plan and have an inflation adjusted income under the excludable income limit. A single person could have as much $431,000 in his or her qualified plan without violating Mr. McKnight’s rule of thumb. So, according to David’s suggestion, limited use of qualified plans can be the so-called perfect investment where you get tax deductions now but, possibly, 0% effective tax rates on the retirement income. (Source: This conversation was part of a training he provided at Exertus All-In Annual Conference, February 3-4, 2022)

This seems to be supported by empirical research. Late last year, Boston College published findings of a longitudinal study of more than 3400 retirees. In the study, they found that 80% of married couples paid less than 1% of their retirement income to taxes. And, even the so-called “one-percenters” paid less than 20% of their income to tax authorities.

Which brings us to the qualified plan discussion. Contributions to a tax-qualified plan will reduce your income that is currently subject to your top marginal bracket. In effect, the taxes you would have paid on those contributions would have been at your highest marginal bracket.

Then, in retirement, your “effective” tax rate is likely to be lower than your top marginal rate during your working years. In the end, it appears that the deductions for most business owners will be at a higher rate than the EFFECTIVE (https://www.investopedia.com/terms/e/effectivetaxrate.asp) rate they pay on income in their golden years.

Put succinctly, we are “arbitraging” the marginal rate against the expected effective rate.

https://www.ssa.gov/news/press/factsheets/colafacts2023.pdf

https://taxfoundation.org/2021-tax-brackets/#brackets

“How Much Do Retirees Really Pay in Taxes” - ThinkAdvisor (Boston College) (https://www.thinkadvisor.com/2020/09/01/how-much-do-retirees-really-pay-in-taxes/)

https://www.forbes.com/advisor/taxes/standard-deduction/

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“How Much Do Retirees Really Pay in Taxes” - ThinkAdvisor

(https://www.thinkadvisor.com/2020/09/01/how-much-do-retirees-really-pay-in-taxes/)

Retirement Taxes as a Percentage of Retirement Income, Households Annuitize All DC Assets �and 50% of Financial Assets, by Average Indexed Monthly Earnings Quintile and Marital Status

Quintile	All	Single	Married
Lowest	0.0%	0.0%	0.0%
Second	0.1	0.2	0.0
Middle	0.4	1.3	0.2
Fourth	1.9	6.1	0.8
Highest	11.5	15.7	10.6
Top 5%	16.2	19.9	15.5
Top 1%	19.5	23.6	19.1
All	6.5%	8.0%	6.0%

How Much Do Retirees Really Pay in Taxes?

The Center for Retirement Research looked at federal tax rates based on different income brackets and withdrawal strategies.

See for yourself:

https://smartasset.com/taxes/income-taxes#wKf3MbE7s2

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For several decades now, our industry and the media have told us taxes will increase; as a result, we are told to shift client savings from tax qualified plans to a so-called life insurance retirement plan.

This research suggests very few retirees are anywhere near the top marginal bracket. For instance, even those one-percenters who are married average less than 20% in taxes.

As a result, we may wish to reconsider the use of qualified plans to increase savings during the time of life when income is the greatest. This doesn’t mean a LIRP is obsolete, but maybe it would be more prudent to consider a balanced approach – instead of an either or discussion, maybe we should be discussing the “and” discussion.

Center for Retirement Research at Boston College: “households in which at least one earner claimed Social Security benefits between 2010 and 2018, which produced a sample of 3,419 individuals and 1,907 households.”

9 year study

Over 3400 participants

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Qualified Retirement Plans:�Defined Contribution vs. Defined Benefit

	Defined Contribution (DC)	Defined Benefit (DB)
Retirement Benefit	Lump sum accrued during career	Annual benefit at retirement
Contributions	Employer and employees	Employer
Investment decisions / risk	Employer and/or employee	Employer
Accounts	Individual accounts	One account for all
Plan types	SEP, Profit Sharing, 401(k)	Traditional DB, Cash Balance, 412(e)(3)

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So, if we are also going to discuss qualified plans, it is important to understand the two general types of plans: Defined Contribution and Defined Benefit.

There are two types of qualified retirement plans – defined benefit plans and defined contribution plans – and we’ve summarized some of the key differences here.

For the retirement benefits provided, a DC plan will define contributions paid during an employee’s active career, and the final benefit at retirement depends on those contributions and the interest earned through those years. A defined benefit plan defines the annual benefit to be paid at retirement, which is guaranteed, and contributions are made to fund to that target benefit.

In a DC plan, contributions can be made by either the employer or the employees, or both – employees generally choose the amount that they’d like to contribute out of their paychecks, and the employer piece is generally based on a formula within the plan document. The investment decisions for these contributions, and the risk associated with those decisions, could be made by either the employer and / or the employees, depending on how the plan document is written. In a DB plan contributions are made by the employer, and the amount paid must be within a specified range every year. The employer is responsible for all of the investment decisions and risk in a DB plan.

Individual accounts are kept in a DC Plan, with each employee having their own specified amount of money. In a DB plan, there is one pot of money for all employees – there is no individual allocations.

DC plan types include SEPs, profit sharing plans, and 401(k) plans, and common DB plans are traditional pension plans, cash balance plans, and 412(e)(3) plans. We’ll discuss these plans in more detail in the coming slides.

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You CAN make up for lost time

Tax Deductible Contributions
Possible 199A Benefit
Guaranteed Retirement $
May help alleviate the risk of reduced income at retirement
Eliminate sequence of returns risk

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*Many advisors and consumers are at least somewhat familiar with the defined contribution plan. However, what very few understand is that there are ways to set aside even more than $19,500 per year on a tax qualified basis. As you can see from the slide, a 55 year old could put away as much as $378k in 2021.

What this means is that we can help clients with little retirement savings, “make up for lost time” by setting aside substantial amounts on an annual basis – AND, those contributions will be made before taxes (put another way, they are tax-qualified/deductible).

For some pass through business entities using certain plans could qualify them for even more tax benefits under section 199A passed in 2017.

And, finally, because our plans incorporate life insurance and annuities, the client can fully guarantee their income in retirement. As a side benefit, this guaranteed retirement income will not be subject to sequence of returns risk.

So, one of the simplest ways to initiate the retirement services discussion is to ask clients or tax advisors is by asking: “Have you ever been interested in generating more tax deductions AND having guaranteed retirement income for the rest of your life

(note: example shown is from approved LL-3549-CPA 2101)

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Employee impact: Dentist’s office

2 dentists, ages 52 and 39, owning 80%/20%

Earnings of $500,000 and $200,000

5 full time employees

Office manager age 42 earning $75,000
Hygienist age 31 earning $50,000
3 staff, ages 22-30, earning $23,000-$30,000

If we maximized the owners, and minimized / excluded the employees, how would the plans look?

TSF-Form Number

For Financial Professional use only. Not for use with the public.

9 | 119

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Plan Comparison*

* Assumes maximum contribution for owner

Age Salary
2 Owners 52 / 39 $500k/$200k
Office Mgr 42 $75k
Hygienist 31 $50k
3 Staff 22-30 $23k-$30k

Contribution for owners	$101,000	$101,000	$128,500	$446,401	$360,442	$622,107
Contribution for employees	$40,800	$6,450	$7,015	$126,252	$9,780	$127,813
Total	$141,800	$107,450	$135,515	$572,353	$370,222	$749,920
Tax Savings (40%)	$56,720	$42,980	$54,206	$228,941	$148,089	$299,968

71%

82%

97%

76%

94%

91%

TSF-Form Number

For Financial Professional use only. Not for use with the public.

10 | 119

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SEP Warning!�(Often the default option businesses started with)

Employers contribute to a traditional IRA for employees
Contribution is deductible up to 25% of total compensation
Pros

No filing requirements, easy to set up (Form 5305 from IRS site), flexible contributions, can set up any time prior to tax filing date with extensions

Cons

100% immediate vesting,
part-time employees must be included
equal % for all eligible employees (Opportunity: many ERs forget to include EEs)

DC Plans	DC Plans
Life Insurance offered?
Contribution flexibility?
Understandable?
Loans?
Portable?

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Case Study– Current SEP

Situation:

Owner age 57, spouse age 54
Two employees ages 37 and 46
Has a SEP, but wanted to vary contributions

Current SEP contribution: $61,000

TSF-Form Number

For Financial Professional use only. Not for use with the public.

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Case Study – Current SEP

Comparison:

72%

91%

BOTH: Similar contributions

Flexible contributions from one year to the next

Profit Sharing provides higher contributions for owner, lower for employees
Needs administration ($1,350 per year admin fee)

TSF-Form Number

For Financial Professional use only. Not for use with the public.

13 | 119

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Case Study – Current SEP

Comparison:

72%

91%

BOTH: Similar contributions

Flexible contributions from one year to the next

Higher contributions for owner, lower for employees

Needs administration ($1,350 per year admin fee)

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Top 10 Reasons You Should Sell Start-Up 401(k)/Profit Sharing Plans

10) Americans have insufficient savings for retirement

9) Business owners should not rely on the sale of their business to fund retirement (only 25% of companies were actually sold at asking price ⏤ Forbes)

8) Most millennial employees desire benefits and expect to get them �from their employers

7) Qualified Plans are an integral part of a balanced strategy: Taxes go up, and go down – nobody knows what they will be when they retire. Tax Diversity is key!

6) Given government spending, taxes are going up – deduct now!

* FOR AGENT USE ONLY *

10) https://finance.yahoo.com/news/survey-finds-42-americans-retire-100701878.html

9) https://www.forbes.com/sites/rochellemclarke/2019/07/25/retiring-dont-count-on-selling-your-business/?sh=3f45c31f370c

8) https://www.cnbc.com/2019/02/07/millennials-are-demanding-these-workplace-perks.html

7) https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx

6) https://grow.acorns.com/national-debt-vs-deficit/

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Top 10 Reasons You Should Sell Start-Up 401(k)/Profit Sharing Plans

5) Both employee and employer contributions to a qualified plan are tax deductible based on contribution and dollar limits imposed by the IRS

4) Roth 401(k) deferrals may be available for employee contributions; Employer $ remains deductible

3) Up to 50% of tax deductible contributions can be used to fund whole life policies as a part of an investment strategy for retirement planning.

2) Traditional 401(k) advisors are focused on asset management rather than plan design and start up plans — they are not interested in plans with less than $1 million in assets

AND, the number one reason YOU should be in this market:

1) Properly structured and funded plans from LAFAYETTE Life may pay you over 50 times more than an advisor using traditional investment options, providing this valuable planning tool to business owners!

* FOR AGENT USE ONLY *

5) https://www.fisher401k.com/blog/types-of-401k-profit-sharing-plans

4) https://www.daveramsey.com/blog/traditional-401k-vs-roth-401k#:~:text=The%20Roth%20401(k)%20is,k)%20and%20the%20Roth%20IRA.

3) Death and disability benefits provided by a plan are limited by the incidental benefit rule set forth in IRC section 401(a)(9)(G) and 26 CFR 1.401-1(b)(1)(i).

2) Anecdotal

1) https://www.employeefiduciary.com/blog/what-does-a-fiduciary-grade-advisor-cost (using median of 60bps for small plans and 50% of Profit Sharing $56k )

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401k Investment Diversification

Required
Lafayette Life Platform is “open architecture”
Registered Reps
Insurance Only Advisors

Hancock
Ameritas
Lincoln
Voya etc.

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Many advisors know that a 401k plan must provide investment diversification. Or, put another way, the plan must offer multiple investment options to the plan participants. What a lot of advisors do NOT know, is that many states allow an agent with only an insurance license to support 401k plans.

Lafayette Life’s in house TPA is what we call open-architecture when it comes to providing that investment diversification; and, in fact, we are a preferred TPA with quite a few firms providing these investment options. This means a registered representative can use registered products of his or her choice. On the other hand, it also means an insurance agent, without securities licenses, can use a “group contract” of their choice to provide investment diversification even though it is an unregistered product.

If you wish, Lafayette Life can provide you a list of these non-registered options such as John Hancock, Ameritas and VOYA.

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Cash Balance / 401(k) Profit Sharing “Combo” Plan

Employer sets up a cash balance and a 401(k) profit sharing plan
Plans tested together for discrimination testing

Allows large benefit to the owners and smaller benefits to the employees in cash balance plan
DC amounts vary by year to pass testing
Cost in DC to pass is less than cost in cash balance plan
Works best for older owners and younger employees

Benefit for Testing

Cash Balance Benefit

Profit Sharing Benefit

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A common design that we show in our proposals is a cash balance and 401(k) combination plan. The client would set up two plans, providing a large benefit to the owner in the cash balance plan, and providing most of the benefits to the employees in the 401k plan. For nondiscrimination testing, they are tested as one plan, or “cross-tested”. Why do this? Because a cross tested plan compares benefits projected to normal retirement age. In other words, a cross tested plan looks at the value of a contribution made today, and projects with interest to the date the participant is expected to retire. Why would this be helpful? For an older owner and younger employees, where we are trying to give the most to the owner and the least possible to the employees, this is very helpful because we can include interest. Not only can we include it, but the IRS says we can assume 8½% interest in the 401(k) plan, and we can assume 3% in the cash balance plan. What does this mean? This means contributing $1,000 for the 50-year old owner at 3% gives the same benefit at retirement as contributing $202 to a 40-year-old at 8½% interest.

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Combo Plan helps owner

Tax Deductible Contributions
Guaranteed Retirement $
May help alleviate the risk of reduced income at retirement
Minimized employee “cost”
If Business has existing 401k plan, we can easily add Cash balance

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Existing 401k, Adding Cash Balance

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1000 Words – Adding Cash Balance

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Solo(k)? Check this out!

28 years of Retirement Benefits ($19,167/mo) = $6.44 million!

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412(i) has “graduated”. . . It is now 412€(3) and we call it the fully insured plan. The Ideal market is owner or family only businesses. For a number of years advisors have been promoting the so-called “Solo-K” plan as a way for small business owners to set aside more money that they could with either a traditional or SEP IRA account. However, we run across many situations where the sole practitioner with no employees would like to set aside even more.

Well, what the fully insured plan is that solution! This slide indicates how much could be set aside AND guaranteed during their retirement years.

As an example, the 50 year old, retiring at age 62 and living 28 years (ie. To age 90), would receive approximately $6.44 million in guaranteed retirement income!

(note- example shown from approved LL-1880-A 2101)

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SOLO K EXAMPLE

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LIFE INSURANCE IN A RETIREMENT PLAN

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Top 10 Reasons for Life Insurance in a Retirement Plan

Tax-deductible premiums
Reduced personal costs
Pre-retirement 101a death benefit
Proceeds are immediately available
Bankruptcy protection for ERISA assets

Generally have an income tax advantage at death
Enhances benefit package
Policy is portable
Conservative plan funding
Working with Lafayette

* Agents: Most specialists cannot afford to work with start-up plans. Life insurance can compensate you for supporting small/new plans – as a result, this may be a great opportunity for you.

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Pre-Tax Premiums

Life Ins Premium: $138,108
Earnings necessary to pay tax and insurance premium:

Outside the plan

Earnings	$230,180
Tax (40%)	- $92,072
Premium	$138,108

Reportable PS-58 taxable amount*	$9,504
Tax (40%)	$3,802

* PS-58 cost equals Net Amount at Risk (Face amount – cash value) x PS-58 factor

Inside the plan

Reportable OYT taxable amount*	$2,966
Tax (40%)	$1,186

Income needed to Pay Premium:

$230,180 vs. $139, 294

Same insurance for almost 40% less!

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Distribution Options for Life Insurance �at Retirement

Plan surrenders policy
Lump Sum distribution (i.e. distribute policy from plan to participant)
Purchase life insurance from the plan using nonqualified assets

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WHO DO YOU KNOW?

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Is this you?

“I don’t know how I’ll ever afford to retire”

Listen for the opportunities:

“I wish I could buy out my partner when he retires”

“I am getting killed by taxes.”

Ask the questions:

When would they like to retire?

Are they looking for another tax deduction?

Does their current retirement plan guarantee lifestyle income for the rest of their life?

Are they saving for retirement?

What do they know about retirement plan options?

Outside the Box ideas:

Professional Athletes

Buy-Sell Planning

Employee-focused Owners

Wealth Transfer

Employees with “Side Hustle”

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Selling a retirement plan starts with a need – a need by the owner of a business to save for retirement. Sometimes, the owners will make remarks that lead right to a retirement planning discussion – Sometimes, with a partnership, one partner would like to buy the other out at retirement, but doesn’t know where to get that kind of money. Sometimes it’s as straightforward as a client saying “I don’t know how I can afford to retire”, or “I pay way too much in taxes and wish I had some other deductions”. Any of these remarks are opportunities to sell a retirement plan, and can kickstart a conversation.

What if these remarks aren’t made? In that case, there are questions that can be asked in the course of a meeting to gauge how prepared the owner is for retirement. Some of these questions are listed – the first few general questions can get the conversation going, and can help you determine how much preparation, if any, they have done for retirement. If they are interested in a retirement plan, the last few questions can help with plan design – the amount of money that they can contribute annually, not just for one year but for every year, is a huge help in determining what type of plan would be best for them.

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Case Study – Professional Athlete

Situation:

Athlete has his own business for sponsor activities
Father is on payroll
Former teammate and marketing agent also employed
Currently has no retirement plan
Needs maximum deductions

Aiming for $1M contribution to the plans

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Case Study - Professional Athlete

Proposals:

$ thousands

$983k

$438k

$684k

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Case Study - Buy/Sell

Situation:

Three partners, business worth $12M
Would like $4M insurance on each partner
No current plans in place
Possible solution: Qualified plan with life insurance

Beneficiary of life insurance on the partners is the other partner
Need spousal waiver
Use nonqualified insurance for any additional amount needed
Deductible premiums for life insurance inside the plan

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Case Study - Buy/Sell

Proposals:

$ thousands

98%

87%

81%

92%

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Case Study – “Solo-K”

Situation:

One-person company, owner age 50
S-Corp earning $1M+
No idea what plan he’d like, how much to contribute, anything

Maybe $50,000
Maybe $500,000

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Case Study – Owner Only

Considerations: Flexibility, life insurance investments, contribution / deduction amounts

Total	$25,050	$57,000	$57,000	$63,500	$228,290	$212,455	$340,390
Tax Savings (40%)	$10,020	$22,800	$22,800	$25,400	$82,802	$84,982	$136,156

$ thousands

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Case Study – Owner Only, Contribute All�Employed with a “Side Hustle”

Situation:

Owner is a 55 year old college professor

W-2 income as an employee from the college
$50,000 Schedule C income from speaking engagements

Would like to deduct / contribute as much as possible of the $50,000

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For financial professional use only. Not for use with the public.

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Case Study – Owner Only, Contribute All

	Amount
½ self employment tax	$3,532
401(k) contribution	$21,468
Cash Balance contribution	$25,000
Total	$50,000

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For financial professional use only. Not for use with the public.

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Top Industries for Retirement Prospects

CPAs
Medical services (physicians, general / family doctors, chiropractors)
Dentists
Insurance Agencies
Speech Therapist / Audiologist
Tax Prep. Services

Sales financing
Free-standing ambulatory / surgical / emergency centers
Lessors of mini warehouses / self storage / nonresidential
Optometrists
Veterinarians
Employees with a “side hustle”

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For financial professional use only. Not for use with the public.

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Your Book of Business / Centers of Influence

Existing clients
Your clients’ advisors (CPAs, attorneys)

We can provide up to 4 CPE credits for CPAs

Other agents (P&C, other life agents not involved with the pension market)

You can be known as the pension specialist
Be the “Go To” for Retirement Plans

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For financial professional use only. Not for use with the public.

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The Lafayette Life Insurance Company�Helping small business owners navigate their way to retirement

Retirement plan services offered:

Consulting
Plan design
Funding options
Annual administrative services
Guaranteed issue life insurance
Group Annuity

Lafayette Life insurance Company, small company feel with large company backing. Member of the Western & Southern Financial Group, Inc., a Fortune 500 Company

For financial professional use only. Not for use with the public.

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Reiterate compliance benefits of LLIC as TPA

The Lafayette Life Insurance Company Helping small business owners navigate the way to. As mentioned, we offer our help from start to finish – up front, we offer consultative services with you and your clients regarding the types of plans available, and we can also provide you with various options to fund the plan, including both contribution amounts and investment options. Once a plan is established, our administration team takes care of the day to day administration of the plan.

In 2005, Lafayette Life aligned itself with Western and Southern Financial Group, Inc., and moved to Cincinnati in 2011. We continue to operate as a small TPA, or Third Party Administrator, and pride ourselves on our personalized, customized service to both you and the clients. Our alliance, however, has provided us with greater resources and improved financial ratings, making us even stronger and more competitive.

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Tania Herbert�Helping small business AGENTS navigate their way �to retirement Sales

Retirement Sales support offered:

Case/Plan design
Consultation
Installation
Ongoing Servicing/Support

Tania holds a Masters Degree from Azusa Pacific University and provides expertise to business owners related to Tax, coaching, asset protection, and risk management.

She is also engaged in our community is a published author, having written “Success without Borders”.

For financial professional use only. Not for use with the public.

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Retirement Plan Marketing Program �and ErisaPedia.com

List of medical practitioners by zip code with e-mails
Plan details such as # employees, total assets, contributions etc.
Phone Scripts
E-mail/snail mail templates

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For financial professional use only. Not for use with the public.

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For financial professional use only. Not for use with the public.

LL-4106 (04/21)

Your next step is find businesses who may be interested in increasing their tax deductions and generating guaranteed lifetime income in retirement. Often, agents will call Mark and say “I have this business owner”. . . And the two of them review the opportunity. However, when the owner is interested, you will need to complete the fillable proposal questionnaire you see on the screen.

Once you send the request to the e-mail on the form, our seasoned retirement services team will prepare the proposal and send back to you and Mark. One thing to keep in mind is that this process can take up to 7 -10 days. So, it is not like a normal proposal for life insurance where you can expect it next day.

Once you receive the proposal, it is not uncommon to review it with us and prepare for the client presentation.

Finally, if needed, Mark is available to help seal the deal until you are proficient and confident.

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Questions?

Tania Herbert

Herbert Financial Group

(818) 579-1187

tania@herbert-financial.com

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For financial professional use only. Not for use with the public.

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Don Kuhn, Regional Sales VP�(714) 397-5126�DON.KUHN@LLIC.COM

Kathy Bender, Internal Wholesaler�(513) 362-4923 �KATHY.BENDER@LLIC.COM

Schedule a meeting with Don --> https://calendly.com/lafayette1

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For financial professional use only. Not for use with the public.

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