--- title: My client is a successful farmer, and needs more than just a Med Supp description: Our agent, Judy, sold a Medicare Supplement to a husband and wife who farm. Judy knows that it always pays to ask questions, and found out that they have 1,200 acres - valued at over $12,000,000. image: https://www.newhorizonsmktg.com/images/NewsImages/farm.jpg --- [![](https://cdn.prod.website-files.com/6978e65abed067e994e8d3ed/697926babf20ddeb2d4ff972_64c7ba8d78ae605d730bbe060cf878ba_NewHorizons-White-Tag.svg)](https://www.newhorizonsmktg.com/) - [Home Home](https://www.newhorizonsmktg.com/) - Agents Agents [Why Us?](https://www.newhorizonsmktg.com/why-new-horizons)[Become an Agent](https://www.newhorizonsmktg.com/become-an-agent)[Sell Your Book](https://www.newhorizonsmktg.com/sell-your-book-of-business)[Support](https://www.newhorizonsmktg.com/support)[Technology & Tools](https://www.newhorizonsmktg.com/tools-technology) Agents Agents [Why Us?](https://www.newhorizonsmktg.com/why-new-horizons)[Become an Agent](https://www.newhorizonsmktg.com/become-an-agent)[Sell Your Book](https://www.newhorizonsmktg.com/sell-your-book-of-business)[Support](https://www.newhorizonsmktg.com/support)[Technology & Tools](https://www.newhorizonsmktg.com/tools-technology) - 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Judy knows that it always pays to ask questions, and found out that they have 1,200 acres - **valued at over $12,000,000**. They have additional assets as well, such as savings, annuities, their home, other property, etc. ![Life with LTC](https://www.newhorizonsmktg.com/images/NewsImages/farm.jpg "Succession planning for Farm clients") During their conversation, Judy uncovered a need that they were very concerned about. They have two daughters and a son, who does all the farming and will eventually take over the farm. ## Did you hear the one about the farmer’s daughters? Neither of the daughters has any interest in running or working on the farm. If the son will inherit the farm, how can the couple provide their daughters with some sort of “fair share” or equalization? How can the couple set up their estate to pay as little as necessary in taxes, and pass more of an inheritance to their children? ## Life Insurance to the rescue Life insurance - specifically a survivorship policy - is a great option in many cases. Judy asked for our help in designing a case. We determined that a survivorship policy could be used as part of an estate plan, so that when both the husband and wife have passed away, the son will receive the farm, and the daughters each receive money from the life insurance policy. This helps to ensure that each child receives an equal inheritance. As for estate taxes, life insurance proceeds are income tax-free. **This case worked out as follows:** - Male, age 70 & Female, age 68 - $2,000,000 life policy - $27,000 annual premium (paid by the farm corporation) - HUGE COMMISSIONS - Over $23,000! Don’t hesitate to ask your farm clients about succession planning. It can be **hugely beneficial** to them and to you. And remember, you don’t need to know everything about life insurance. We can walk you through the entire case, and the commission is yours! ## A helpful fact-finder John Hancock Life Insurance Company has created an Estate Planning Fact Finder that you might find helpful. - [Estate Planning Fact Finder (short version)](https://drive.google.com/open?id=0B2aDaRvZwNqaZkcxc3ZacTdaLTg) - [Estate Planning Fact Finder (long version)](https://drive.google.com/open?id=0B2aDaRvZwNqaNzFRWS1KaENFS00) [Life Insurance](https://blog.newhorizonsmktg.com/tag/life-insurance), [Sales Tips](https://blog.newhorizonsmktg.com/tag/sales-tips) ## Comments ## Read On ### [Life with LTC is very a popular solution - but only if it's offered!](https://blog.newhorizonsmktg.com/life-with-ltc-is-very-a-popular-solution-but-only-if-its-offered) Case Study Here's a case one of our agents submitted, which just got approved this week. [![Final Expense](https://www.newhorizonsmktg.com/images/NewsImages/funeral.jpg)](https://blog.newhorizonsmktg.com/have-your-clients-saved-money-for-funeral-costs) ### [Have your clients saved money for funeral costs?](https://blog.newhorizonsmktg.com/have-your-clients-saved-money-for-funeral-costs) Show them how to safely increase their savings with a stroke of the pen Example Case: [![NH-Insurance-Producer-Spotlight-Michael-Sams-900k-Year](https://blog.newhorizonsmktg.com/hubfs/NH-Insurance-Producer-Spotlight-Michael-Sams-900k-Year.jpg)](https://blog.newhorizonsmktg.com/insurance-producer-spotlight-michael-sams-and-his-900-000-year) ### [Insurance Producer Spotlight: Michael Sams and His $900,000 Year](https://blog.newhorizonsmktg.com/insurance-producer-spotlight-michael-sams-and-his-900-000-year) Michael Sams has been in the insurance business for about 13 years now, and in 2017, he had a... This website is for agent use only. 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