Friday, April 4, 2014

What is "Lazy Money"?

I keep seeing the flyers come through my computer that mention the phrase “lazy money.”  I have to admit that I have not explored those flyers – but when I see them and they mention ‘lazy money’ I think of anyone who has money in CDs today.  The national average paid on CDs today is .23% interest.  When I see that interest rate I think that these people might as well have that money in a coffee can in their back yard.

For people ages 50 thru 75, we have an EXCELLENT alternative to the CD at the bank.  We have single premium life products that are available with a single premium payment.  Not only do they provide a TAX FREE death benefit for the heirs, they also offer Long Term Care benefits (Up to 5 times the amount of the deposit) to the client. The best part?  Their money offers a much better return than the return they get at the bank.  They also never lose control of their asset!  Here is a simple sales approach that you can use to sell this product;

I call this my “Napkin” idea.  There is no better time than now for agents to talk to their clients about our wealth transfer product.  Why is that?  There is roughly 10 Trillion dollars sitting on the sidelines today.   The majority of that is in CD’s and Money Market Accounts.  There is a good chance your agents clients have money sitting in a MMA or CD.  Currently a 1-Year CD yields at .23%.  Talk about opportunity.  Some simple questions agents can ask their clients.  Possibly even over a napkin.

  1. Do you have any money sitting in a CD or Money Market Accounts? If yes,
  2. Are you happy with your return? (likely answer will be No @ .23%)
  3. Do you intend on using or needing that money? If no,
  4. If I could show you a way to double your initial deposit in the form of a tax free death benefit and roughly 4 to 5 times your initial deposit for LTC would you be interested?  And by the way, should you change your mind or need to access your money after 2 years you can get your money back.(ROP)

If you have clients who have ‘lazy money’ you owe them the opportunity to consider this product.  The chances are that not only are they getting next to nothing for an interest rate – they also don’t have Long Term Care.  This is a grand solution to both of those problems!

Ask us for an illustration!


Don Boozer
Don Boozer & Associates