2018 Summer Newsletter

FALL FOR THIS
DON'T
SALES PITCH
RADIO
By Ryan Craner
Taking the client advocate and consumer protection approach, Ryan has always viewed every
client as a long term and very important relationship.
ver the past few years
several Strategic Planning Group
clients have contacted me
requesting an SOS (Second
Opinion Service)
O
regarding
proposals pitched to them or their
extended family or friends by
various insurance sales
organizations in Utah. These
pitches are coming via selfproclaimed
“gurus” on the radio,
at dinner seminars and more.
Once I examined the sales
proposals, it didn’t take long to
identify them as an old insurance
gimmick that has been repackaged
and repurposed. Once again,
aggressive salespeople are out
pounding the pavement looking
for fresh clients.
Insurance Company Tricks
On the surface many of these
pitches appear to be valuable
insider-only nancial strategies
that eliminate all the taxes on your
401(k) and IRA accounts. As you
proceed through their sales
process you will quickly discover
that the actual underlying strategy
is to liquidate and pay full taxes
and penalties on most or all your
retirement investment assets.
Then you take what is left after full
taxation and use it to make a
massive premium payment on
usually one large illiquid cash
value life insurance policy from
only one life insurance company.
The nal outcome is far different
than all the come-ons and one-
liners that make it all sound like
your “retirement salvation.”
Radio Guru’s
On the radio every weekend you
will hear this endless diatribe
about magical “tax free,” “risk
free,“ and “safe money”
investments. They may go on and
on about how risky traditional
retirement investments are. They
tell stories about years,
didn’t take long to
It
them as an
identify
insurance
old
that has
gimmick
repackaged
been
repurposed.
and
S T R A T E G I C P L A N N I N G G R O U P | 3