Midland National® Life Insurance Company

Midland National | Sales Concepts

Midland National
Sales Concepts

While the primary use of life insurance is death benefit protection, your clients may also have other needs that can be met through life insurance. Broaden your sales potential with these featured ideas, and use the accompanying marketing materials to help put the strategies to work for you.

As independent contractors, it is up to you to choose which of these concepts may work for your particular sales strategy and clients, and which do not. Please note that Midland National does not require you to use any of these sales concepts; they are resources that can be used at your discretion for your own individualized sales presentations.
Annuity Maximization

Help your clients fund a life insurance policy through a single premium immediate annuity (SPIA).

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College Funding

The cost of a college education continues to rise. See how life insurance can help through death benefit protection and cash value growth.1

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Help grow your life insurance business with these simple sales builder techniques:
DIME (Debts, Income, Mortgage, Everything Else) and OTCA (Opener, Thinking, Concern, and Action.)

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Estate Planning

Many of your clients may have accumulated significant wealth over the years. An estate plan defines how they will build, preserve, and allocate that wealth.

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Executive Bonus

Help your business clients reward and retain the employees that are vital to their business.

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Key Person

Key person life insurance could help ensure that all the effort and money invested in a business won't disappear when the unexpected happens.

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Life insurance is a cost-efficient and relatively simple way to fund a buy-sell agreement.

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Split Dollar

Split dollar cases share the premium cost and offer an incentive to retain and reward select employees.2

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IUL Education

Learn more about how Indexed Universal Life insurance (IUL) works and how it can help your clients when they may need it most.

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Legacy Building

Legacy building is a strategy using permanent life insurance to offer death benefit protection along with a generally tax-free3 way to pass along assets to beneficiaries.

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Mortgage Protection

Life insurance can help make certain that the funds are in place to keep your client's family in their home should the main breadwinner pass away.

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Policy Review

A client's life can change over time, and so can his or her life insurance needs. A great way to provide a valuable benefit for your clients and potentially increase your revenue is by conducting a policy review.

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Retirement Planning

Life insurance provides your clients with death benefit protection, but it may also help with financial needs during the retirement years.

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Smart Money

Smart money is money your clients want to control and be able to access during times of need.

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Term vs. Perm

Learn the difference between term and permanent life insurance, and help your clients determine which best suits their needs.

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Loan Regime Split Dollar

Help business owners recruit, retain, and reward select employees.

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1. The primary purpose of life insurance is to provide a death benefit to beneficiaries. Because of the uncertainty surrounding all funding options except savings, it is critical to encourage your clients to make personal savings the cornerstone of your clients' college funding program. However, even a well-conceived savings plan can be vulnerable. Should your clients die prematurely, their savings plan could come to an abrupt end. To protect against this unexpected event, life insurance may be the only vehicle that can help assure the completion of a funding plan. In addition to the financial protection aspect of insurance, the tax-deferred buildup of cash values can be part of your clients' college savings plan. Generally, if the policy is not a Modified Endowment Contract then tax-free withdrawals can be made up to the contract's cost basis. Moreover, if the policy is not a Modified Endowment Contract, then loans in excess of the cost basis are also tax free as long as the policy remains in force.

2. Under an economic split dollar arrangement, the value of the life insurance afforded the employee is taxable to the employee. The employer should provide the employee with tax reporting based on requirements specified in the tax code. The parties to the economic split-dollar arrangement should seek their own independent legal and tax advice as to whether and how to enter into an economic split-dollar arrangement based on the employer's and employee's unique circumstances.

3. A life insurance death benefit is not generally subject to income tax for beneficiaries. Loans on life insurance policies are generally income tax free as long as the policy remains in force until death and the policy is not a modified endowment contract (MEC). In some situations loans and withdrawals may be subject to federal taxes. Neither Midland National Life Insurance Company nor its agents give tax or legal advice. Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation.

Neither Midland National Life Insurance Company nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

Indexed Universal Life products are not investments in the "market" or in the applicable index. They are subject to all policy fees and charges normally associated with most universal life insurance.

Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including Midland National® Life Insurance Company. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Midland National Life Insurance Company.