CLASSROOM TRAINING

DAY ONE

Liberty National Life

Day One Objectives

Overview of the Opportunity at Liberty

Introduction to Needs Based Sales

Full Laptop Presentation

Objective One: Opportunity

You hired us – To show you what it takes to be successful at LNL we are 100% committed to doing our job.

1st 90 Days - Agenda Training Expectations Field Training

Premium, Referrals Presentations Field days

Objective One: Opportunity cont’d

New Agent Release Meeting Appointment Booking Sessions Field Requirements () Meeting days and times

Remember, this is to give you the tools needed to be SUCCESSFUL at Liberty National Life

Needs Based Sales

Needs Based Sales

The chief function of life insurance is to pay for a person’s final expenses. Some of the money paid to a beneficiary normally is used to meet current financial obligations created by the insured’s death. The remainder of the money may also be used to meet future needs of the insured’s beneficiary or beneficiaries.

Totaling the amounts required to pay for current and future expenses is often referred to as the “total needs approach” to determine how much life insurance a person should carry.

Four Obligations at Death

1: Final Expenses Funerals cost money. So do doctors; the ambulance; and the

hospital, where a stay before death could cause a bill.

Income taxes, estate and inheritance taxes, (because they resulted from death) make up what could be called “Death Taxes.”

Four Obligations at Death

When a breadwinner dies, dependent family members may still have other financial needs for:2: Income Replacement Replacing the breadwinner’s income3: Mortgage Protection Taking care of the outstanding mortgage loan on the

house (if any)4: College Education Protection Today, almost everyone recognizes the necessity of a

good college education for their kids, if they hope to attain success in the business or professional world. Many conscientious parents consider it their duty – an obligation – to establish a fund for their children’s education.

Need for Life Insurance

No matter how many of these obligations an individual leaves behind, there’s only one thing that will satisfy them…money!

For this reason, a person who wants to relieve the family of obligations when he or she dies will plan to leave them with an estate – money – that is sufficient to cover all needs.

Needs Based Example

Jim died. He was the breadwinner. The family suffers the loss of his income plus the responsibility of these expenses:

Final Expenses

$30,000

Income replacement (5 yrs)

$175,000

Mortgage remaining

$155,000

College costs (2 children)

$200,000

TOTAL $560,000

The Needs Approach

ObligationsFinal Expenses: $30,000

Income: $175,000

Mortgage: $155,000

College: $200,000

Total: $560,000

AssetsWhole Life: $0.00

Term & Work: $200,000

Mortgage Ins: $0.00

College Funds: $0.00

Total: $200,000

Additional Total Need for Insurance:

$360,000

Need for Whole Life: $30,000

Need for Term Life: $330,000

Objective 3: Situational Presentation

Watch a situational presentation by your training manager to gain a better understanding of the presentation.