Key Wealth Transfer Prospect Questions
- Client age over age 55 years
- Client with a stagnant pot of money
- Fixed or Variable Annuities
- Certificates of Deposit
- Money Market Accounts
- Checking and Saving Accounts
I notice you are not currently taking income distributions from this money, when
you think you might start?
They will give you a definitive date or they will tell you they are not intending to use the
What is the ultimate goal for this money?
If they have not given you a definitive date, a client will typically tell you their intention for the money is to pass it on to the kids or grandkids. This identifies them as a wealth transfer client.
Is there any reason that you would need to access this money?
Generally the answer is no or they are saving it for an emergency.
- Is an emergency for a short term need such as a car, roof repair, etc, or a health care concern or health emergency?
- This leads you to identifying a product with Return of Premium for a short term issue or a long term care rider for a long term health / medical / nursing home need.
In the last five years, have you had any significant healthy history such as heart attack, stroke, or cancer or have you been to a hospital or a doctor for any reason other than a cold or a routine physical?
This leads you to understand if they qualify for simplified underwriting or a fully underwritten product. Health, Time Value, and Cost will help determine the path for which they feel most comfortable.