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Lots of annuity sales with this Tool. Most of our competitors hammer us and our prospects about the surrender penalties in annuities.

7 years, 10 years, 1

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

7 years - YIKES!

I look at it differently. I love surrender penalties because they provide me with lots of future prospects and clients. How can that be?

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

It is the exclusion ratio. The exclusion ratio has made more annuity sales for me that anything I can ever think of. The exclusion ratio is a benefit we

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

should all make certain our clients and prospects are aware of. Explain it this way:

If you convert accumulated funds in an annuity to an income stream y

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ou can access the exclusion ratio. The exclusion ratio is the percentage of income that is excluded from tax liability.

I like this example

• A $50,0

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

00 deposit has grown to a value of $100,000.

If the annuitant takes any funds from this account it is 100% taxable at ordinary income tax rates.

In ou

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

r example let’s pretend that the annuitant selects a 10 year payout and we will round off the calculations for the sake of illustration.

• $100,000 wil

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

l provide an annual payment of $10,000 for 10 years.
• $5,000 basis and not taxable, $5,000 interest and taxable.

The $5,000 basis is the

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

exclusion ratio.

Because we have accessed the exclusion ratio we can “spread out” the tax liability over the selected time period which in our example is 1

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

0 years. This means that only 50% of the income received is taxable. By spreading out the payment we have spread out the tax liability!

An annual payment

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

of $10,000 will only have 50% tax liability. Mrs. Prospect, this allows you to completely manage your annual tax liability and to take advantage of the “E

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

xclusion Ratio.” How about selling the exclusion ratio to the client for the beneficiary?

Mrs. Prospect did you know that when your daughter receives thes

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

e funds as your beneficiary she can also access the exclusion ratio?”

Your beneficiary can accept the funds out over a fixed period of time and spread the

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

tax liability over the payout period.

When a prospect asks me about surrender period I always say this:

“Mrs. Prospect, you cannot enjoy the benefits of t

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

his contract unless you allow the insurance company to hold your funds. There are many benefits you can enjoy with this product, have you ever heard of the

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

exclusion ratio?”

I use the power of the contract and the exclusion ratio to explain the need for surrender period. Easy to explain and makes for very ha

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ppy clients. This is especially good when someone comes to me with an existing annuity. Often times they are not happy and did not understand the time per

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

iod for the surrender penalties. I would say this..

“Mrs. Prospect, unfortunately your agent did not really understand your contract well enough. It i

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

s really not his fault; he probably did not have access to the training that I have had. Let me explain a terrific benefit of your contract, the exclusion

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ratio.”

Once I am able to explain this powerful benefit it is easy to sell another annuity to her. The benefits of the contact sell the annuity for me

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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