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Oct 28, 2005 5:58 pm

Discussion: Cold Calling Script

Posted by Juan Caballero on 10/21/2005

I am using this cold calling script with doctors, and am getting about 1

appointment per 20 calls. What do you think? What would you change?

“Hello, my name is Juan Caballero, with XXX financial services. We are

offering a program that helps doctors protects their assets from lawsuits

and creditors; and I would like to make an appointment with Dr. Smith to

show him the program.”

And that’s it.

Oct 28, 2005 6:39 pm

Would that program be an …annuity???..Good idea.

Oct 28, 2005 7:31 pm

I was thinking accounts receivables financing.

Oct 29, 2005 11:32 pm

My money is on off-shore accounts.

Oct 31, 2005 3:01 am

compliance ?

Nov 3, 2005 3:39 am

He’s probably talking about Irrevocable Trusts; but mainly as a way way to get a foot in the door.

Nov 3, 2005 4:10 am

I’m not an insurance expert, CFP or attorney, but here’s how this structure

was presented to me:

Suppose a medical group maintains an average accounts receivable

balance of $600,000.

A bank loans money using that balance as collateral. The bank is now the

primary lien holder on the accounts recievables balance. The doctor(s)

then use the loan to purchase a cash value life insurance policy like

universal life.

At retirement, the doctor pays off the loan with the collected balances and

can start tapping the cash value of the insurance policy which has grown


All the while, the assets are protected from creditors, 1. because the

bank is the primary beneficiary of the account receivables balance and 2.

because the current law protects the beneficiaries of the insurance policy.

What do you think? Does it hold water?

Nov 7, 2005 9:35 pm

you may be explaining this incorrectly.  I would think the IRS
would have a problem with this and possibly see it as a tax avoidance
strategy.  Also you are confusing with the medical group’s account
receivables being the doctors.

Lastly, receivables on the books more than 6 months probably have a
collection ratio of about 60-70% depending on the firm and who did the
original billing.  You would get a very limited loan
ability.  AND the loan would never be for more than 3 months
because of receivables needing to be written off and for those paid.

And is the growth in the cash value of the life insurance going to be
higher than the interest rate on the loan payments?  Very shacky.

Nov 7, 2005 10:16 pm

Rather than go thru all the trouble, why not just do an ILIT?

Nov 9, 2005 4:50 pm

Its a valid point, but, I don’t think the ILIT can monetize the accounts

receivable balance. The hardest part of this (new) structure is finding a bank

that will accept this lien position in the event of malpractice litigation. but I

know its being done. This deal was presented to me by Pacific Life