Financial Services Industry
Industry: Email Alert RSS FeedNonprofits offer vast untapped annuity market. (Million Dollar Round Table Convention Report)(edited version of speech given at convention) (Cover Story)
National Underwriter Life & Health-Financial Services Edition, June, 1993 by Ward, Ben F.
Insurance agents peddling annuities should look to the nonprofit market for new prospects. Nonprofit organizations represent a vast, untapped market of tax-sheltered annuities (TSAs); it is estimated that less than 20% of teachers eligible to invest in TSAs do so. Other nonprofit organizations that can be tapped include charities, private schools and hospitals. To successfully market TSAs, agents must educate themselves about the market by studying IRS Publication 571 and the W-4 booklet and familiarize themselves with IRS form 1040 and tax schedules.
Employees of nonprofit organizations have a unique, powerful savings device available to them--the tax-sheltered annuity or TSA. The annuity market for nonprofits is vast, underworked and represents a significant opportunity...
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