Your clients with health issues pay more for Life Insurance due to increased mortality costs, now you can show these same clients a way to get increased income payments when applying for Single Premium Immediate Annuities (SPIA’s).
Insurance carriers base life contingent Immediate Annuity income on a client’s life expectancy. When that life expectancy is reduced due to health ailments these clients can often qualify for increased payments based on a specified premium deposit or smaller required premium deposits when requesting a specified income stream. These “Rated SPIA’s” can often help offset premium increases when used to fund a health rated Life or Long Term Care policy. CPS Insurance Services has several carriers that offer health rated SPIA’s.
In order to be considered for a Health Rated SPIA, you must submit to CPS Insurance Services a copy of your client’s Attending Physicians Statement (APS/Medical Records). CPS Insurance Services does not pay for or order these records but you may do so yourself by contacting your local medical records copy service or contact J&H Copy Service at (714) 921-0102. In order for a copy service to obtain records, you will need a signed release from your client available at the links below.
Call your CPS Annuity Manager for a complete illustration for your client’s unique situation.
Strategic Carrier Providers
Testimonials
Here’s what just some of our clients have said
I have been meaning to relay my gratitude to you for all the help and guidance that you have been providing along with the continued good handling of issues as they arise around the several 401k client plans we have been working on together. Your insight, mastery, and professionalism have made things a delight. Thank you for all the help! My processes and approach have been enriched because of your guidance and subject matter expertise. And for that, I am enriched professionally and personally. May I someday be able to pay it forward.
John Walsh — Columbus, Ohio
The Annuity Team at CPS is best in class! The knowledge and know-how they possess is far superior than any other firm I have worked with. I very much appreciate the support they provide me.
Kayoko Nihei
We partnered with CPS in 2014 and not only has it been pleasant but also an extremely educational experience. They are key to our agency and have the tools necessary to meet the needs of our clients. Their team is exceedingly knowledgeable and will give you step by step guidance on completing applications, quoting, and electing the right carrier for your clients. They have been a game changer for our agency and we look forward to continuing our business relationship with them for years to come.
Adam Beach, President of Beach Financial Group
CPS is superb to work with. We appreciate their prompt responses, attention to detail, and expertise from running illustrations to finalizing a policy. Customer services at its finest! We have found CPS to be a “5 Star” rating and highly recommend working with CPS.