creating unique benefits for business owners and their ... e-handout 5.17.17.pdf · 2017 mdrt...
TRANSCRIPT
copy 2017 Million Dollar Round Table Million Dollar Round Table 325 West Touhy Ave Park Ridge IL 60068 USA
2017 MDRT Annual Meeting e-Handout Material Title Creating Unique Benefits for Business Owners and
Their Employees Speaker Matthew E Schiff CLU ChFC Presentation Date Monday June 5 2017 Presentation Time 200 - 300 pm Session Room Hilton - Orlando Ballroom II The Million Dollar Round Tablereg (MDRT) does not guarantee the accuracy of tax and legal matters and is not liable for errors and omissions You are urged to check with tax and legal professionals in your state province or country MDRT also suggests you consult local insurance and security regulations and your companyrsquos compliance department pertaining to the use of any new sales materials with your clients The information contained in this handout is unedited errors omissions and misspellings may exist Content may be altered during the delivery of this presentation
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 1
Matthew E Schiff CLU ChFCCreating Unique Benefits for Business Owners
and Their Employees
Donrsquot get caught by surprise
For Agent Use Only
Our Story
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 2
Schiff Benefits Group LLC - Services
Help Establish Client Objectives
Design
Implementation (enrollment and underwriting)
Administrative Support
For Agent Use Only
Schiff Benefits Groupndash Professional
Expertise
Accounting
Actuarial
Administration
Compensation amp Benefits
Investment amp Insurance
Legal (outsourced)
Systems (TPAs)
Tax (outsourced)
For Agent Use Only
Schiff Benefits Group LLC
Representative Clients
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 3
Executive Benefit Programs
For Agent Use Only
Potential Executive Benefit Programs
Executive
Supplemental Life
Insurance
Supplemental
Retirement Income
Long-Term Disability
IncomeLong-Term Care Insurance
Survivor Income Benefit
Deferred Compensation
For Agent Use Only
Target Markets
Large Industrial Corporations Banks
(Revenues gt $250 million)
Target Market =15000 Corporations Target Market = 7100 Banks
VERY COMPETITIVE MARKET VERY COMPETITIVE MARKET
Mid-Size Businesses Healthcare Institutions
(Revenues lt $350 million) (Not-For-Profit) (Minimum 5 Executives)
Target Market = 4000 Hosptials
Target Market = gt 250000+ and Medical Groups
Business Entities
VERY COMPETITIVE MARKET
LIMITED QUALITY COMPETITION
Executive Benefits Marketing Services
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 4
Nonqualified Plan Acronyms
SERP Defined Benefit ndash Supplemental
Executive Retirement Income Program
401K Mirror Defined Contribution
Supplemental Executive Salary
Deferral Program
COLI Company-Owned Life Insurance
BOLI
GVUL
Bank-Owned Life Insurance
Group Life Insurance
Sold as Term Alternative
Good Deferred Compensation Alternative
For Agent Use Only
SERP Examplebull Obligation from the Corporation to
the employee
Corp
40 of Final Avg Salary
100
FAS
DBO
For Agent Use Only
SERPs
Yes = 84
No = 16
Companies Offering Supplemental Executive Benefits Plans
Based on TBGMullin 2014 Benefits Survey
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 5
COLI
Unique financial vehicle for generating surplus to meet company selective benefits obligations
Company is sole owner premium payer and beneficiary of COLI policies
For Agent Use Only
COLI - analogy
bull COLI is like the engine in a car ndashnecessary but not well understood
For Agent Use Only
COLI can provide
bull Employer benefits funding
wherewithal
bull Employer cost recovery
bull Participant life insurance
coverage
bull Participant life insurance policies
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 1
Matthew E Schiff CLU ChFCCreating Unique Benefits for Business Owners
and Their Employees
Donrsquot get caught by surprise
For Agent Use Only
Our Story
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 2
Schiff Benefits Group LLC - Services
Help Establish Client Objectives
Design
Implementation (enrollment and underwriting)
Administrative Support
For Agent Use Only
Schiff Benefits Groupndash Professional
Expertise
Accounting
Actuarial
Administration
Compensation amp Benefits
Investment amp Insurance
Legal (outsourced)
Systems (TPAs)
Tax (outsourced)
For Agent Use Only
Schiff Benefits Group LLC
Representative Clients
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 3
Executive Benefit Programs
For Agent Use Only
Potential Executive Benefit Programs
Executive
Supplemental Life
Insurance
Supplemental
Retirement Income
Long-Term Disability
IncomeLong-Term Care Insurance
Survivor Income Benefit
Deferred Compensation
For Agent Use Only
Target Markets
Large Industrial Corporations Banks
(Revenues gt $250 million)
Target Market =15000 Corporations Target Market = 7100 Banks
VERY COMPETITIVE MARKET VERY COMPETITIVE MARKET
Mid-Size Businesses Healthcare Institutions
(Revenues lt $350 million) (Not-For-Profit) (Minimum 5 Executives)
Target Market = 4000 Hosptials
Target Market = gt 250000+ and Medical Groups
Business Entities
VERY COMPETITIVE MARKET
LIMITED QUALITY COMPETITION
Executive Benefits Marketing Services
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 4
Nonqualified Plan Acronyms
SERP Defined Benefit ndash Supplemental
Executive Retirement Income Program
401K Mirror Defined Contribution
Supplemental Executive Salary
Deferral Program
COLI Company-Owned Life Insurance
BOLI
GVUL
Bank-Owned Life Insurance
Group Life Insurance
Sold as Term Alternative
Good Deferred Compensation Alternative
For Agent Use Only
SERP Examplebull Obligation from the Corporation to
the employee
Corp
40 of Final Avg Salary
100
FAS
DBO
For Agent Use Only
SERPs
Yes = 84
No = 16
Companies Offering Supplemental Executive Benefits Plans
Based on TBGMullin 2014 Benefits Survey
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 5
COLI
Unique financial vehicle for generating surplus to meet company selective benefits obligations
Company is sole owner premium payer and beneficiary of COLI policies
For Agent Use Only
COLI - analogy
bull COLI is like the engine in a car ndashnecessary but not well understood
For Agent Use Only
COLI can provide
bull Employer benefits funding
wherewithal
bull Employer cost recovery
bull Participant life insurance
coverage
bull Participant life insurance policies
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 2
Schiff Benefits Group LLC - Services
Help Establish Client Objectives
Design
Implementation (enrollment and underwriting)
Administrative Support
For Agent Use Only
Schiff Benefits Groupndash Professional
Expertise
Accounting
Actuarial
Administration
Compensation amp Benefits
Investment amp Insurance
Legal (outsourced)
Systems (TPAs)
Tax (outsourced)
For Agent Use Only
Schiff Benefits Group LLC
Representative Clients
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 3
Executive Benefit Programs
For Agent Use Only
Potential Executive Benefit Programs
Executive
Supplemental Life
Insurance
Supplemental
Retirement Income
Long-Term Disability
IncomeLong-Term Care Insurance
Survivor Income Benefit
Deferred Compensation
For Agent Use Only
Target Markets
Large Industrial Corporations Banks
(Revenues gt $250 million)
Target Market =15000 Corporations Target Market = 7100 Banks
VERY COMPETITIVE MARKET VERY COMPETITIVE MARKET
Mid-Size Businesses Healthcare Institutions
(Revenues lt $350 million) (Not-For-Profit) (Minimum 5 Executives)
Target Market = 4000 Hosptials
Target Market = gt 250000+ and Medical Groups
Business Entities
VERY COMPETITIVE MARKET
LIMITED QUALITY COMPETITION
Executive Benefits Marketing Services
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 4
Nonqualified Plan Acronyms
SERP Defined Benefit ndash Supplemental
Executive Retirement Income Program
401K Mirror Defined Contribution
Supplemental Executive Salary
Deferral Program
COLI Company-Owned Life Insurance
BOLI
GVUL
Bank-Owned Life Insurance
Group Life Insurance
Sold as Term Alternative
Good Deferred Compensation Alternative
For Agent Use Only
SERP Examplebull Obligation from the Corporation to
the employee
Corp
40 of Final Avg Salary
100
FAS
DBO
For Agent Use Only
SERPs
Yes = 84
No = 16
Companies Offering Supplemental Executive Benefits Plans
Based on TBGMullin 2014 Benefits Survey
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 5
COLI
Unique financial vehicle for generating surplus to meet company selective benefits obligations
Company is sole owner premium payer and beneficiary of COLI policies
For Agent Use Only
COLI - analogy
bull COLI is like the engine in a car ndashnecessary but not well understood
For Agent Use Only
COLI can provide
bull Employer benefits funding
wherewithal
bull Employer cost recovery
bull Participant life insurance
coverage
bull Participant life insurance policies
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 3
Executive Benefit Programs
For Agent Use Only
Potential Executive Benefit Programs
Executive
Supplemental Life
Insurance
Supplemental
Retirement Income
Long-Term Disability
IncomeLong-Term Care Insurance
Survivor Income Benefit
Deferred Compensation
For Agent Use Only
Target Markets
Large Industrial Corporations Banks
(Revenues gt $250 million)
Target Market =15000 Corporations Target Market = 7100 Banks
VERY COMPETITIVE MARKET VERY COMPETITIVE MARKET
Mid-Size Businesses Healthcare Institutions
(Revenues lt $350 million) (Not-For-Profit) (Minimum 5 Executives)
Target Market = 4000 Hosptials
Target Market = gt 250000+ and Medical Groups
Business Entities
VERY COMPETITIVE MARKET
LIMITED QUALITY COMPETITION
Executive Benefits Marketing Services
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 4
Nonqualified Plan Acronyms
SERP Defined Benefit ndash Supplemental
Executive Retirement Income Program
401K Mirror Defined Contribution
Supplemental Executive Salary
Deferral Program
COLI Company-Owned Life Insurance
BOLI
GVUL
Bank-Owned Life Insurance
Group Life Insurance
Sold as Term Alternative
Good Deferred Compensation Alternative
For Agent Use Only
SERP Examplebull Obligation from the Corporation to
the employee
Corp
40 of Final Avg Salary
100
FAS
DBO
For Agent Use Only
SERPs
Yes = 84
No = 16
Companies Offering Supplemental Executive Benefits Plans
Based on TBGMullin 2014 Benefits Survey
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 5
COLI
Unique financial vehicle for generating surplus to meet company selective benefits obligations
Company is sole owner premium payer and beneficiary of COLI policies
For Agent Use Only
COLI - analogy
bull COLI is like the engine in a car ndashnecessary but not well understood
For Agent Use Only
COLI can provide
bull Employer benefits funding
wherewithal
bull Employer cost recovery
bull Participant life insurance
coverage
bull Participant life insurance policies
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 4
Nonqualified Plan Acronyms
SERP Defined Benefit ndash Supplemental
Executive Retirement Income Program
401K Mirror Defined Contribution
Supplemental Executive Salary
Deferral Program
COLI Company-Owned Life Insurance
BOLI
GVUL
Bank-Owned Life Insurance
Group Life Insurance
Sold as Term Alternative
Good Deferred Compensation Alternative
For Agent Use Only
SERP Examplebull Obligation from the Corporation to
the employee
Corp
40 of Final Avg Salary
100
FAS
DBO
For Agent Use Only
SERPs
Yes = 84
No = 16
Companies Offering Supplemental Executive Benefits Plans
Based on TBGMullin 2014 Benefits Survey
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 5
COLI
Unique financial vehicle for generating surplus to meet company selective benefits obligations
Company is sole owner premium payer and beneficiary of COLI policies
For Agent Use Only
COLI - analogy
bull COLI is like the engine in a car ndashnecessary but not well understood
For Agent Use Only
COLI can provide
bull Employer benefits funding
wherewithal
bull Employer cost recovery
bull Participant life insurance
coverage
bull Participant life insurance policies
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 5
COLI
Unique financial vehicle for generating surplus to meet company selective benefits obligations
Company is sole owner premium payer and beneficiary of COLI policies
For Agent Use Only
COLI - analogy
bull COLI is like the engine in a car ndashnecessary but not well understood
For Agent Use Only
COLI can provide
bull Employer benefits funding
wherewithal
bull Employer cost recovery
bull Participant life insurance
coverage
bull Participant life insurance policies
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 6
SERP Example (Funded with COLI)
bull Obligation from the Corporation to
the employee paid with Company
dollars
Corp
40 of Final Avg Salary
100
FASDBO
$$$Insurance Policies
May or may
not insure
all
participants
For Agent Use Only
Examples of uses of COLI
Provide Supplement Income
Provide Supplemental Insurance
(Discriminatory)
Recover the costs of a SERP
Fund BuySell Arrangements
Recover Qualified Pension Costs
Recover Long Term Care Costs
Recover ESOP Funding Liability
For Agent Use Only
Summary Analysis - COLI
The Accounting Cost of COLI
THE COST OF COLI
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 7
The Market Place
For Agent Use Only
Wants to do what the ldquoBig Dogsrdquo do
Competitors all have one
Assure future tax deduction not dividend treatment for shareholders
Secondary use of ldquoBuy-Sellrdquo funding vehicle
Sinking fund for Key Employee buy-out of Employer stock
Creates a lsquobargaining chiprsquo and or lsquolife preserverrsquo in the event of sale merger or acquisition
Non-Traditional Motivation
Owner Motivated Plans
For Agent Use Only
Needs more money at retirement
Needs more money before retirement (aka ldquoin-service distributionrdquo) ndash CAUTION 409A
Canrsquot maximize 401(k) plan
Replaces plan with prior employer
Alternative to equity in privately-owned company
Non-Traditional Motivation
Employee Motivated Plans
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 8
C Corporations (10+ EEs amp $5M+ Revenue)
3 or more non-owner key employees
Business continuation plan
Financially sound hellip stable cash flow
Non-cyclical industry
Concerned owners
Best Prospect
For Agent Use Only
C-Corp WITH an existing plan
Plan NOT in compliance with DOL
Plan NOT in compliance with ERISA
Plan NOT in compliance with 409A
Look for the three Irsquos
1 Plan design INAPPROPRIATE
2 Plan funding INADEQUATE
3 Plan administration INACCURATE
Next Best Prospect
For Agent Use Only
Service after the sale = persistency
Tracking Reporting and Accounting are
just as important in a small company as in
a big one
Accountants like to ldquoAuditrdquo not ldquoPreparerdquo
Outsourcing is the standard
Seemless Outsourcing through NFP Portal
Pangburn Deferralcom etc
hellip a word about
Administration
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 9
Prospects For NQDCIndustry Opportunities
bull Community Banks
bull Not-for-profit organizations
bull Locally owned franchises
bull Sales Companies
bull Food Distribution Services
bull Manufacturing Companies
bull Outsource Companies For Agent Use Only
What it takes to be in this market
Knowing People
not
Knowing Product
For Agent Use Only
Pre Qualify Suspect move to Prospect
Complete a client Executive Benefit Design Questionnaire
Complete a Client Profile ldquoChecklistrdquo
Get a Completed Census
Set up first meeting or Conference call with
CFO CEO President Owner andor Majority Shareholder
Work with your Home Office or marketing distributor to help you build the case
What You Need You To Do
For Agent Use Only
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-
Schiff Benefits Group May 17 2017
Integrated Executive Benefits Overview Page 10
Prospecting Questions
bull Would your employees like to defer more money than their 401K allows
bull Are you having retention problems
bull As an employer if you could provide a benefit that was cost neutral would you do it
bull As a business owner would like to have a plan that looks smells and feels like an unlimited ROTH IRA
bull (BOLI Only) If you could get a better return on your investments and finance your employee benefits with the same money would you
For Agent Use Only
How to Reach Your Target
Develop Strategic Alliances
ndash Attorney
ndash CPA
ndash PampC AgentAgency
ndash Qualified TPA
ndash Bank Director
ndash Your Community Bank
ndash ASPA ( Actuary) or
ndash Have existing relationship
For Agent Use Only
Research and Marketing
Websites
bull wwwSchiffBenefitscom Schiff Benefits Group
ndash Articles
ndash Census Sheets
ndash Marketing Material
ndash Latest Updates on 409A and COLI
bull wwwfdicgov Bank Information
bull wwwfreeerisacom Qualified Plan and Non-Qualified
Plan Information
For Agent Use Only
- Schiff
- 1 - Schiff Matt PPT 10-31-16_REV 3-29
-