FNA Gather Form First Last

Transcription

1 FNA Gather Form First Last (Do not proceed unless all decision makers are present) Client Spouse Current career(s): What do you like best about your job/career? What would you change? Our goal is to help you get on the right financial track to accomplish the goals and dreams you have for you and your family. We d like to ask you a few questions to find out your priorities okay? What s most important in your life? Work Spiritual Life Family Is it Unimportant Important -or- Very Important to provide financial security for your family? *** Now I want you to put your dream hat on. Paint for me the picture of your life and tell me about it, describe it to me, tell me what it looks like? * What are some of the things you & you family would do differently if time & money were not an issue? * What are the top 3 areas of concern you have about money? - The things that keep you up at night. *use these? s as needed Home: 1. Cars: 2. Education: 3. Charity: Travel: Is there anything you would like to do, but cannot because of time or money? Hobbies/Recreation: What age would you like to Retire? : (the point in time where you can now work because you want to, instead of having to) Lets fast forward you re now retired, how much money would you like to come in without having to work for it in today s dollars $ mo Based on the way you are currently saving & investing when will you be able to retire? Use only if their not on the team When will your current career allow you to accomplish those things? If we can show you a way to help you reach your goals that would give you more money, security and freedom than your current career, would you be open to exploring that option? Yes No Recap all the goals the client has and feed the information back to them, Now if we were able to (fill in goals)... Is that a program you would be excited about? Yes No If it will help you reach your goals and dreams faster will you implement the program? Yes No Great, that is what we are going to accomplish for you.

2 1. INCOME SOURCES Client Spouse Monthly Gross (pretax) Income: $ $ How often do you get paid? (Wkly, Biwkly, Twice a Month, Monthly) Other Income: $ $ Monthly Income Taxes: $ $ Do you normally receive an income tax refund? Yes No How much was your last refund? $ What did you do with it? How much do you anticipate this year? $ (Educate on interest-free loans to the govt.) If we can use your tax refund to help you reach your financial goals more quickly instead of giving the government an interest free loan would you do it? Yes No (If yes, explain interest free loan to government, for every $600 they get back, adjust W-4 by 1 exemption) 2. RETIREMENT PLANS Are you currently involved in any type of retirement plan? Yes No What Types? Client Spouse Do either of you have a pension? Yes No Monthly Benefit Amt: $ $ Age Benefits Begin: What type? {401K, 457, 403B, ESOP, SEP, SIMPLE, etc.} Current Total Balance: $ $ How much do you contribute monthly? $ $ Does your employer match your retirement contributions? Yes No Yes No How much? $ $ Do you have retirement assets from a previous employer? Yes No Yes No Have you rolled this over to a personal account yet? Yes No Yes No What are the balances in these accounts? $ $ Do you have IRA s now? Yes No Monthly contributions: $ $ Total Balance: $ $ 3. NON-RETIREMENT ASSETS Monthly Contrib. Total Balance Bank Checking, Money Markets & Savings $ $C S MM CD s, Bonds $ $ Mutual Funds $ $ Do you have an Emergency Fund? Yes No $ How much would give you peace of mind in the event of an emergency? $ (If they have Investments outside of work ask) If we put together an investment solution that is better than your current plan, are you open to moving it? Yes 4. OTHER ASSETS Do you own any real estate other than your home? Yes No If yes, what is the value? $ Do you expect to receive any other assets in the future? (Inheritance, sale of home or business, etc.) Yes No $ Estimated No 5. EDUCATION DATA Would you like have money set aside for your children s education? Yes No Are you currently saving? Yes No What % would you like to have for your kids: (Average public: $15,000 / year - Average private:: $30,000 / year) Child Balance Monthly OTHER GOALS AND DREAMS Goal 1 Goal 2 Goal 3 Goal 4 Goal 5 Goal 6 Goal/Dream Current Cost Yrs/Mos from Today - or - Date Current Savings Balance Current Monthly Contributions Where your goals & dreams savings are currently invested?

3 6. Do you have a current will? Yes No If it were affordable, would you like to have one? Yes No 7. INSURANCE DATA What are you paying monthly for your insurances? Auto $ Homeowners $ Health $ Dental $ Other $ If we can save you money on your auto/homeowners insurance, and put those dollars back towards your goals and dreams would you explore that option? Yes No Great, we have a program that shops top rated companies for you. It only takes 10 minutes & even if you don t save money, you ll have peace of mind knowing you are not paying too much for your insurance. Give them A/H and PLPP sheet with instructions Life Insurance Coverage Client Spouse Children Do you have any Group Life Insurance at work? Yes No Yes No Group coverage amount paid for by Employer: $ $ $ How much of the premium do you pay? $ $ $ What happens to your group coverage if or when you leave your employer? (Generally lost if you lose job due to layoff or extended illness) (Recommend to them not to rely on group insurance for their FNA, in case they change jobs, get a better offer elsewhere, or company changes benefits.) Do either of you use tobacco in any form? Yes No Yes No Do you own personal life insurance other than through work? Yes No IF NO: When a responsible family like yours doesn t have any life insurance outside of work, it s usually due to one of the following reasons: A. They didn t see the need for it. B. They didn t think they could afford it. C. They never got around to it. Which one of these reasons best describes you? (check appropriate box above) Would you say that it s Unimportant Important - or - Very Important to properly protect and secure your family s financial future if you were to die prematurely? IF YES: So we can analyze your existing plan and find out, would you please get your policies? Client Spouse Children What type? Company Name: What are your current monthly premiums? $ $ $ What is the face Amount? $ $ $ How much cash value is in your policy? $ $ $ When did you buy it? Are you over insured or underinsured right now? Over Insured Underinsured Don t Know Why did you buy your existing plans? Protection Savings Both If you were to consider a change in benefits, what interests you most? Lower Cost More protection More savings What is your relationship with the agent who sold you this insurance? (If friend or relative ask, if we can put together a better program, would you be open to changing? Y N ) If we put together a plan that improves your current plan, would you have an issue changing yours? Yes No (Discuss the drawbacks of client s existing insurance cash value insurance or term insurance)

4 8. DEBT MANAGEMENT DATA Home Mortgage (1 st ) Mortgage company: Current Mortgage balance: $ Interest Rate (note): % When did buy your home? Home value today? $. Last refinanced? Term: Fixed/Variable: Is your current loan a 3/ 5 / 7 yr arm Interest only, ect? (Get Truth in Lending Statement from client s existing mortgage docs Go over debt presentation) Annual Percentage Rate Finance Charge Amount Financed Total of Payments Length of Term % $ $ $ Payment Details: Principal + Interest: Payment: $ Additional Principal Payment: $ Monthly Property Taxes: $ Monthly Homeowners Insurance: $ Private Mortgage Insurance (PMI/MIP): $ Total Monthly Payment: $ 9. CONSUMER DEBT Do you currently have any consumer debt? Yes No Name Balance Min. Pmt Actual Pmt Fixed Revolving Int. Rate 2 nd Mortgage $ $ $ % Car #1 $ $ $ % Car #2 $ $ $ % Credit Card #1 $ $ $ % Credit Card #2 $ $ $ % Credit Card #3 $ $ $ % Personal Loan $ $ $ % Student Loan $ $ $ % Other $ $ $ % Total Consumer Debts: $ {Note: If car is leased, do not list as a debt - it is a living expense.} 10. The Pay Yourself First Formula: Everyone s life is different, but this should be used as a benchmark to shoot for. Experts say we should budget 15% of our gross income to our financial program. If we re on a tight budget, 5%. If we have low overhead, 20%. If you want to be: Dead broke its easy you think about saving never do it and you keep telling yourself someday! Middle Class save 5% on your gross income for $3000/mo = $150 $6000/mo = $300 Upper middle class save 10% on your gross income for $3000/mo = $300 $6000/mo = $600 Rich save 15% on your gross income for $3000/mo = $450 $6000/mo = $900 Retire early save 20% on your gross income for $3000/mo = $600 $6000/mo = $1200 Where do you want to commit To Be? (check one) That s approximately $ per month. Will this include your tax refund, current monthly savings, debt acceleration, etc. or is that in addition to? Is this an amount you feel completely comfortable committing to every month? Yes No (If No: adjust accordingly)

5 11. Earlier, I asked you what is most important in your life and you said Your Family. So if you died prematurely, would you want your family s standard of living to be... Better Worse or at minimum, Stay the same? 12. We are now going to determine what needs to be covered in order to maintain you re your families quality of life if either one of you were to die prematurely. There are 5 reasons for life insurance. Its used to cover your mortgage, debt, educational expenses, final expenses and lastly if those things are covered would your family need any additional income to maintain the same quality of life you currently have? If you were to die prematurely, would you want your: Mortgage paid? $ Consumer debt paid? $ Children s education paid? $ Funeral expenses paid? $ Now If all these expenses were taken care of, how much monthly income would your survivors need to live the same life? (WFA) It s usually between 25% and 75% of the spouses income, till the youngest child is out of the house between 18 & 22 If Client died, the spouse and/or children would need: If Spouse died, the client and/or children would need: $ per month for years. $ per month for years. Income Replacement needed $ $ Let s look at some numbers. (Develop A-B-C life insurance proposal using app with DIME calculations.) (Do this if helping client implement plan on first appointment) Client Needed Coverage: $ $ Minus Current Coverage: $ $ Minus Non-retirement savings: $ $ Insurance Shortfall: $ $ Spouse If under protected: Can you see that your family is dangerously under protected? Yes No If you died prematurely would you feel comfortable having your family struggle financially? Yes No 13. If we put together an affordable plan that properly protects your family will you implement that plan today? Yes No (if no move on to 19) 14. If yes Review the benefits of Primerica s life insurance products & show A-B-C proposals. (Have client fill out Personal Data Form while calculating proposal.) Client s Age: Spouse s Age: Option A (lowest) Option B (middle) Option C (highest) P P P S $ Mo S $ Mo S $ Mo C C C Which one of these proposals do you feel best meets your family s needs? A B C 16. Is their anything you would like to change about the option you selected? Yes No IF YES: What would you like to adjust? (Make adjustments as necessary) What questions do you have? What other questions do you have? (When the answer is no more questions ) Are you sure? Are you positive? 17. The next step is to see if we can get you qualified for the coverage... Have you ever had an issue qualifying for life insurance in the past? Yes No 18. What I ll do now is ask you a few questions to see if we can get you medically qualified you for your new plan.

6 21. How Money Works Invitation I will be investing 4-6 hours of my time to build a financial program that will help your family to reach all of their goals and dreams. Wouldn t you agree that it is important for you to invest at least 60 to 90 minutes of your time to learn more about money and personal finance so that the program can be successful? We find that our clients who take the time to attend our How Money Works Seminar have a much higher rate of success in achieving their financial goals, and that s really what you want, isn t it? (WFA) Great! Our next How Money Works Seminar is scheduled for Thursday. I LL reserve you 2 seats so Please mark your calendar 22. Referrals Well now we both have some work to do before our next visit, but my work is going to take me quiet a bit longer than yours. I am going to take all of the information that you gave me today and put it into a Financial Needs Analysis so that the next time we get together I ll be able to address all of the issues that we discussed today in detail. That will probably take me 4-6 hours. Your work is going to be much quicker, probably only take about minutes. (Hand the Pre-Called Introduction Memo) Remember when we first came over I talked about how we don t charge a monetary fee for what we do. WFA So we will provide the Financial analysis and all we ask for in exchange is 7-10 Pre-called introductions. Now the people I can help the most are Married Homeowners. (Write this diagonal across the upper left hand side.) What I d like you to do is get permission for me to talk with those 7-10 people. I want to be clear about what your commitment is and isn t. You re not trying to get people to agree to meet with me. Your only responsibility is to get permission for me to talk with them over the phone for 5 minutes. So when you ask them please be sure to get 3 points across. 1) I m working in a financial capacity. 2) As a personal favor to you, please take my call. 3) It doesn t commit them and it doesn t commit me. It just says that we want to talk things through over the phone. Then we can see if there is a mutual interest. Fair enough? Are you comfortable with that process? Commitment If No Solutions were Implemented on 1 st Appointment If, when I come back, I offer you a plan that improves upon your current investments, debt situation, and income protection, will you implement and follow that plan? Yes No (Reach across table, shake hands, and say, I m very excited about preparing your FNA for you. )

7 Personal Data (Handout & Explain Privacy Brochure) To be completed by the client. Please print legibly. Print Client s Data First Name MI Last Name Birth Date Sex Print Spouse s Data First Name MI Last Name Birth Date Sex Print Children s Data (if applicable) * Relationship (son, daughter, stepchild, grandchild, etc.) Mailing Address & Contact Info Address City State Zip Yrs at Address Home Phone Work Phone Fax Cellular Pager Spouse s Work Print Client s Employer Info Name of Employer Occupation Date Hired / / Address City State Zip Print Spouse s Employer Info Name of Employer Occupation Date Hired / / Address City State Zip To ensure that we provide the best possible service to our clients,we ask you,by signing below,to verify and approve the information provided in the questionnaire.we also want you to understand how thisinformation will be used.i/we are providing this information to you,as my/our representative,and to Primerica Financial Services and its affiliates,to prepare a Financial Needs Analysis (FNA) in order to assist me/us in identifyingfinancial needs and solutions.i/we understand that the results of this FNA are largely dependent on the information I/we have provided.i/we understand that this FNA is not an application for any financial product.by separate application,i/we may apply for one or more of the products mentioned in the FNA presentation,and be consideredunder the applicable qualification criteria.i/we understand you may also share this information with other Primerica representatives to offer me/us products that may be appropriate for me/us.i/we understand that to avoid a need to provide this information on any subsequent applications,including any application to represent Primerica,information provided for this FNA can be imported into anyprimerica application I/we complete in the future,regardless of the representative assisting me/us with the application.i/we will be sure that the information imported or otherwise included on an applica-tion is current and correct at the time the application is submitted.i/we,by signing below,confirm I/we have reviewed the information and approve it as what I/we intended to provide.i/we also hereby consent to the use of the information by Primerica and its representa-tives as described above. Approved By: Date: / / Approved By: Date: / /

8 The greatest compliment you can give is your referrals. PRE-CALLED INTRODUCTIONS Date: Introduced by: Phone #: Financial Coach: WHO DO YOU KNOW? BEST FRIEND FAMILY CO-WORKERS Life Insurance Mutual Funds Debt Reductions New Home Mortgage LTC/Seminars New Associates Couples with Young Children Homeowners Homeowners Over Age 50 with Motivated Home Wants to Retire Downsized Selling Home Assets to Protect Wants More New Babies Money in Bank 1 st Time Buyers Churches Great Salesperson Just Adopted Age 50+ Wants to Move Up Employers Great with People Mutual Funds Just Changed Jobs in Size Organizations Always Talking Thrifty About $$ Owns a Small Business Please circle the people we should speak to first Has Grandchildren Include their occupation under comments.

9 The greatest compliment you can give is your referrals. PRE-CALLED INTRODUCTIONS Date: Introduced by: Phone #: Financial Coach: WHO DO YOU KNOW? BEST FRIEND FAMILY CO-WORKERS Please circle the people we should speak to first Include their occupation under comments. Thank you for providing this list of people that I may be able to help become debt free and financially independent. I would really appreciate you giving them a quick phone call to get permission for me to contact them. The conversation may go something like this: {Small talk} As a personal favor to me, I d like you to take a phone call from a friend who is my Personal Financial Analyst. His/Her name is. He/She is a great person and really helped us a lot by teaching us quite a few valuable financial concepts. As a favor to me, would you accept a 5 minute phone call from? This doesn t commit you and doesn t commit him/her. It is up to you of course. Would a call at work or home be best? They may respond: What is it? You know, I can t really tell you everything that has told us. But I can guarantee that you would be doing me a favor by taking his/her call. And if he/she is able to help your family, then I ll be doing YOU a favor. Listen on the phone for 5 minutes. This is all I m asking you to do. You will be under no obligation and I promise you that he/she won t waste your time. If after 5 minutes you don t like what he/she has to say, just hang up. Fair enough? Would a call at work or home be best?