The Income Maximizer or IMAX is an easy to understand retirement income planning software program that helps producers create retirement income plans for their clients. IMAX helps give a producer’s product recommendations validity as it shows their effect on a client’s retirement income picture.
Many Americans today do not spend the necessary time analyzing what their specific situation may look like entering retirement. That coupled with the fact that people may find themselves living 20 to 30 years or more in retirement, makes the IMAX analysis that much more important.
The software can help show clients, in simple fashion, different scenarios specific to their situation and projects whether their retirement income may last. Insurance agents can become great story tellers as they take clients from one scenario to the next, making changes, addressing concerns and working to show potential solutions to client’s retirement income problems. Clients begin to see the value of the analysis process through simple charts and graphs. IMAX can illustrate different retirement dates, Social Security strategies, pension options and the effect they may have on retirement savings balances. The software can handle all types of retirement accounts policies including projecting the taxation of these assets on withdrawal in retirement. There is a special concentration on the client budget and how future changes may affect retirement income balances. The IMAX software should help producers answer any “what if” questions a client may have with a few computer keystrokes.
When it comes to illustrating a client’s life insurance need, IMAX can pinpoint the exact amount of death benefit needed today to help clients protect their assets and reach their retirement income goals.”
In addition, IMAX can provide needed death benefit amounts on an annual basis to help users illustrate term-permanent combination strategies that can help protect their clients with potentially lower premium outlays.
IMAX can illustrate an extended stay in a long-term care facility and what may be a catastrophic outcome on their retirement income. Users are able to model this using today’s costs, age of entry, inflation and the number of years in a facility. IMAX can provide users with much of the necessary information to help producers introduce product solutions and tailor the policy to their client’s specific situation.
IMAX can also provide a number of retirement income scenario calculators. Income Laddering, Required Minimum Distribution, Roth Conversion and Mortgage Amortization to name a few, give users the ability to illustrate specific client scenarios in simple fashion.
There are two IMAX reporting options; the full report and the quick report. Using IMAX F/Q reports, agents can illustrate specific scenarios, concepts, generate understanding and provide annual analyses to help keep their clients on track. The full report is a detailed analysis covering all of the information in a client’s file. The quick report is more of a summary showing important areas of the client analysis in an abbreviated format. Each option is initially printed to a PDF document to help users formulate their client presentations. Each report is printed using colorful graphs and charts with descriptions helping to make it easy to understand.
The producer acclimation process should be relatively short and typically takes a month or two to feel comfortable running a client analysis. Top of the Line Support is paramount and is included with the software. Agents have access to the Retirement Analyzer PowerLine from 8:00 am to 5:00 pm CST every business day. Users can also take part in daily software training at 10:00 am CST. Power Hour Interactive Support sessions take place from Monday to Thursday and Success in 60 sessions occur on Fridays. Another option is an extensive IMAX training program called IMAX VTT. This program runs for four weeks, classes meet two times per week for 90 minutes. Simply put, this is “roll your sleeves up appointment training.” Attendees are exposed to the IMAX 3 Step Sales Process while working on presentation techniques. “Simple and understandable” is stressed along with the art of pivoting to help increase appointment closing ratios. Upon class completion, attendees should be able to hit the ground running using the IMAX process.
The IMAX software helps you position yourself as a client’s dedicated professional and is available to licensed agents who sell fixed annuities, life insurance and long term care insurance. This program designed for agents trying to build a base as they help clients gain an understanding of the retirement income planning process.
As with any marketing, keep in mind the agents’ obligation to have clear identity and purpose in all communications with potential customers. They should know who you are what licenses you hold and what services or products you offer.
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC. Some programs are exclusive offers through CreativeOne’s Dynamic Marketing Portal to third-party vendors and are only available to agents who are contracted with CreativeOne. CreativeOne is not responsible for the results of the programs or any liability stemming from the use of them. 14162 – 2015/3/2 | E1502-345