- (702) 248-6901
- 8861 W Sahara Ave Ste 260, Las Vegas, NV 89117
A Robust Platform & Resource Hub for Business Expansion Annuities
The Creative Financial Services Annuity Division stands out as a leader in the industry, fueled by a commitment to excellence and forward-thinking innovation. We offer a versatile and extensive range of annuity products tailored to meet diverse client needs. Backed by our deep expertise and dedicated market support, we ensure you and your clients receive exceptional service and solutions.
Client Objective:
A client sought to allocate $1 million into a retirement income strategy, aiming for a growth rate that surpassed what traditional fixed-interest products could provide.
The financial advisor identified a securities product with a living benefit rider as a potential match for the client’s goals.
The client was enthusiastic about the prospect of their income base growing at a 7% rate, with the flexibility to secure guaranteed income starting 10 years after the policy’s issuance
However, the advisor was concerned about the client’s need to access a lump sum for significant purchases or expenses that might exceed the annual income provided by the securities product.
While the securities product offered strong income guarantees, it lacked safeguards for the accumulation value if the stock market underperformed.
Strategic Solution:
Creative Financial Services proposed dividing the $1 million premium between the securities product and an Indexed Annuity. The Indexed Annuity included a rider that matched the same 7% income growth factor while ensuring the full premium and a modest interest component remained available as a protected lump sum.
By leveraging our deep product knowledge, Creative Financial Services guided the advisor through alternative solutions aligned with the client’s unique requirements, highlighting the benefits of this dual-product approach.
Outcome:
The client gained confidence knowing their entire $1 million investment retained the 7% growth factor for income purposes.
The tailored strategy allowed half of the funds to pursue potential gains tied to stock market performance, while the other half benefited from market-linked growth with the added security of a protected principal.
This ensured the client’s priority of having a safeguarded lump sum was met, providing peace of mind for future financial flexibility.
Objective: A novice financial advisor sought assistance from Creative Financial Services to identify a suitable client to boost their sales pipeline.
Creative Financial Services proposed targeting a 65-year-old client with a non-qualified annuity valued at $210,000, with a cost basis of $100,000.
The client aimed to safeguard against potential medical expenses but was concerned about the tax implications of withdrawing the $110,000 in gains from the annuity, which could trigger a significant income tax liability.
Tailored Solution:
Drawing on the tax advantages introduced by the Pension Protection Act of 2006 (PPA), effective from 2010, Creative Financial Services recommended executing a 1035 exchange to transfer the client’s existing annuity into a select PPA-compliant annuity product.
This new annuity was strategically chosen to optimize the client’s assets. It offers an improved interest rate, enhanced liquidity, and tax-advantaged withdrawal options specifically designed to cover Long-Term Care (LTC) expenses. Creative Financial Services’ expertise in current market offerings and up-to-date knowledge of tax laws and regulations ensured the advisor could present a solution that maximized value for the client.
Client Benefits:
Through this strategy, the client gained multiple advantages, including an initial tax-free Long-Term Care benefit of $8,750 per month.
The new annuity provided a competitive interest rate and allowed for 10% penalty-free withdrawals. It offered the flexibility to convert to a guaranteed lifetime income stream if Long-Term Care needs did not materialize, ensuring both financial security and adaptability.
The Disability Income Insurance Division at Creative Financial Services employs a tailored strategy to safeguard assets against unforeseen circumstances. We deliver precise, comprehensive product details crafted to support the development and sustainability of effective, solution-oriented plans.
Client Scenario: A 38-year-old male with an annual income of $80,000, who supports a family and a mortgage, faced financial vulnerability.
With a growing family and monthly obligations, his savings covered only three months of expenses. He needed to safeguard his income against potential illness or injury, especially after learning of a co-worker who lost significant assets due to an injury sustained on vacation, despite having robust health and life insurance.
The client anticipated substantial salary increases shortly and throughout his career.
His existing group Long-Term Disability (LTD) plan provided 60% taxable benefits, equating to only 40% of his income after taxes, leaving a significant coverage gap.
Strategic Recommendation:
The Creative Financial Services Income Protection Division recommended an Individual Long-Term Income Protection Policy customized to his circumstances. This policy offers guaranteed coverage that remains portable throughout his career.
Creative Financial Services secured a simplified issue policy, delivering an additional $1,600 in tax-free monthly benefits, payable until age 65, without requiring medical exams or tax return submissions.
The policy included a no-cost option to increase benefits annually as his income grows, all within the same plan.
It also ensured protection in his specific occupation, allowing him to pursue alternative, well-paying employment while still receiving full benefits if he became disabled.
Client Outcome:
The client now has adequate coverage to meet his monthly financial commitments at a cost-effective premium in the event of illness or injury.
He has shared insights about his group plan’s limitations with colleagues, raising awareness of its coverage gaps.
The advisor earned a substantial commission and secured renewals for the duration of the policy, fostering long-term client trust and business growth.
Client Scenario: A 43-year-old female dentist with three employees who owns a dental practice faced significant financial concerns.
Her practice incurs monthly overhead costs of $23,000, including a business loan used to acquire the practice.
She was anxious that an illness or injury preventing her from working could jeopardize her ability to cover the loan and operational expenses, potentially forcing her to shutter her business.
Strategic Recommendation:
The Creative Financial Services Income Protection Division recommended a Business Overhead Expense (BOE) policy tailored to her needs. This policy would provide $23,000 monthly to cover business expenses, with benefits starting after a brief 30-day waiting period and continuing for 18 months. Additionally, the premiums are tax-deductible.
This solution ensures her practice remains operational during recovery, preserving its value and allowing her to return to a functioning business. If she cannot resume work, the policy maintains the practice’s financial stability, enabling her to sell it without significant depreciation.
Client Outcome:
In the event of sickness or injury, the policy guarantees that her business will continue to operate, with all overhead expenses covered.
She shares the benefits of this solution with fellow dentists at monthly professional gatherings, enhancing her network’s awareness of such protections.
The advisor secures a substantial commission and ongoing residuals for the duration of the policy, strengthening their business and client relationship.
The Creative Financial Services Life Division is dedicated to building a robust framework for lifelong financial security. Our team is driven by a commitment to strategic, enduring financial planning, ensuring clients receive tailored life insurance options that align with their unique goals and needs.
Client Scenario: A 70-year-old female client sought to ensure her life insurance policy remained the most competitive option available and would be accessible to her family when needed most.
Based on the contract’s guarantees, she held a $1 million Universal Life (UL) policy that was at risk of lapsing in just seven years.
The policy’s annual premium was $13,201, with a cash surrender value of $37,000.
Strategic Recommendation:
The Creative Financial Services Life Division partnered with the advisor to devise an optimal solution.
We advised replacing the existing UL policy with a new Guaranteed Death Benefit Universal Life contract.
Additionally, we suggested transferring the $37,000 cash surrender value into the new policy through a 1035 exchange.
This approach allowed the client to cover the entire first-year premium using the $37,000 from the exchange, eliminating out-of-pocket costs for that year. Furthermore, the new policy reduced her annual premium from $13,201 to $12,162.
Client Outcome:
The client secured a new Universal Life policy with a guaranteed death benefit extending coverage for 28 years, surpassing the original seven-year timeline.
She also saved $1,039 annually on her life insurance premiums, enhancing the policy’s affordability and long-term value.
Client Scenario: A couple in their mid-30s faced substantial life insurance needs but lacked any existing coverage.
They managed a $300,000 mortgage and raised four children under five years old, all while constrained by a tight budget.
Their financial advisor, primarily experienced in Property and Casualty Insurance, required additional guidance to identify an appropriate life insurance solution tailored to the couple’s circumstances.
Strategic Recommendation:
Creative Financial Services thoroughly assessed the couple’s financial situation and proposed a Term Insurance solution. To meet their goal of protecting their children and each other, we advised the purchase of two $500,000 30-year level Term life insurance policies, one for each spouse.
The combined monthly premium for these policies amounted to $115.00, aligning comfortably with their budgetary constraints.
Client Outcome:
The couple secured comprehensive life insurance coverage with a fixed, guaranteed premium for the next 30 years, providing long-term financial protection at an affordable rate through Term Insurance.
The Long-Term Care Division at Creative Financial Services has forged strong alliances with a wide range of carriers, enabling us to offer a comprehensive selection of Long-Term Care options. Our team possesses in-depth expertise in competitive products and services, ensuring tailored solutions for our client’s needs.
Client Scenario: A 57-year-old female sought Long-Term Care (LTC) Insurance to secure her future care needs.
Her inconsistent health history and physical build made traditional underwriting challenging, with approval unlikely.
Creative Financial Services identified that the client was a partner in a small business, opening up alternative solutions
Strategic Recommendation
The Long-Term Care Division at Creative Financial Services recommended an employer-sponsored multi-life LTC plan.
We guided the advisor on a product requiring a minimum of three employees, fully employer-funded, with only five simplified underwriting questions. This plan offered a 10% policy discount and provided a tax deduction for the employer.
The advisor presented this solution to the client’s business partners, who endorsed the recommendation, resulting in the plan’s adoption by all partners.
Client Outcome:
The client successfully obtained LTC coverage for herself and her business partners, and the employer also claimed a tax deduction for the premiums.
The advisor expanded a single policy inquiry into coverage for three individuals, enhancing the value delivered to the client and their business.
The Creative Financial Services Underwriting Division meticulously assesses various client characteristics to secure the most suitable coverage options. Led by our head underwriter, a registered nurse, our team is dedicated to overcoming challenges to ensure your clients receive optimal insurance solutions.
Client Scenario: A 56-year-old male sought $1 million in Term Insurance coverage.
His application was initially declined due to a September 2008 CT scan revealing a pulmonary nodule, which raised concerns about his health.
Strategic Recommendation:
The Creative Financial Services Underwriting Division thoroughly reviewed the client’s medical records and determined that the declination based on the pulmonary nodule and lung function test results warranted an appeal.
Our lead underwriter, leveraging their medical expertise, recommended that the client obtain a new CT scan and a physician’s letter addressing the nodule and lung function concerns.
The client provided the updated medical information submitted to the insurance carrier as part of an appeal, requesting reconsideration based on the new evidence.
Client Outcome:
With the support of Creative Financial Services, the advisor successfully navigated a complex case.
The client’s application was approved at a Standard rating, securing $1 million in Term Insurance with an annual premium of $6,140.
Client Scenario: A 70-year-old male required a review for a $10 million Universal Life (UL) informal case.
His medical history included heart surgery in 1997 and ongoing treatment for chronic vein disease, which led other Brokerage General Agencies (BGAs) to decline coverage after evaluating his records.
Strategic Recommendation:
Creative Financial Services thoroughly analyzed the client’s case, gathering comprehensive medical documentation. We collaborated closely with our network of carrier underwriters, leveraging our established relationships to present the case in the most favorable context possible.
As a result, our strategic carrier partners provided multiple Standard rating offers for the client’s policy.
Client Outcome:
The case was successfully placed at a Standard rating with one of our A+-rated carriers, securing a $10 million UL policy with an annual premium of $419,000.
