Agent’s Sales Journal March 2008
Front Page Stories
On Dec. 12, 2007, the Senate’s Special Committee on Aging heard testimony on reverse mortgages. The ...
For any active sales agent, the independent marketing organization (IMO) can be an effective ally in...
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Short Takes
To help Americans understand the essential role of insurance within a sound financial plan, the Life and Health Insurance Foundation for Education (LIFE) and Newsweek are teaming up for the 13th consecutive year to sponsor the realLIFEstories Client...
A new survey by the International Foundation of Employee Benefit Plans, “Employee Benefits Survey: U.S. and Canada 2007,” looks at the prevalence of employee benefits offered in the United States and Canada. The survey found that 43...
A child born in the United States in 2005 can expect to live nearly 78 years — a new high — according to a recent report released by the Centers for Disease Control and Prevention.The report from the CDC’s National Center for...
A Council for Disability Awareness review of 2006 long-term disability claims among the U.S. workforce revealed that the number of American workers experiencing a long-term disability continues to grow at a faster rate than the growth of the...
The National Association of Insurance Commissioners (NAIC) has announced the completion of an internal investigation of the approval process related to the Viatical Settlements Model Act. The investigation concluded that the model was debated openly...
A comprehensive survey of the individual health insurance market recently released by America’s Health Insurance Plans found that premiums are affordable, most who applied were offered coverage, and consumers have access to a wide variety...
Premium rates for individual term life insurance in 2008 are expected to drop, on average, about 1 percent from 2007 after many years of larger year-to-year reductions, according to the Insurance Information Institute (I.I.I.).“The generally...
A new report released by the Office of the Inspector General on independent pharmacy payments in Medicare Part D will “raise eyebrows” on Capitol Hill and essentially refutes claims from the independent drugstore lobby, said officials...
Sales Review
Editor’s note: “Step Into the Spotlight” by Tsufit is due to publish in April 2008 Celebrities seem to have it all: beauty, fame, fortune, endless confidence. Too bad business professionals can’t live such a charmed life....
Perspectives
I started working with senior citizens five years after President Lyndon Johnson signed the Medicare program into law in 1965. When LTCI was introduced, I was excited about it because I realized that these policies may help allow seniors to remain...
I began my career in the financial services industry on the life insurance side. I was the fourth generation of life insurance salespeople in my family. I was proud of my heritage, and I actually sold my first life insurance policy before I...
On Jan. 30, 2008, the Ohio House unanimously passed a piece of legislation known as Substitute House Bill 404 — a bill that, if voted into law, is intended to take steps to protect consumers from life settlement-related abuses. Within the...
Selling Guides
As if life isn’t difficult enough for many seniors, the Deficit Reduction Act of 2005 (DRA) — signed into law by President George W. Bush in February 2006 — has further reduced senior citizens’ opportunities to reposition...
Statistics show that one 1 of every 2 elderly Americans will need long term care at some point in their lives, and many Americans assume that the government will provide this care. Some have purchased long term care insurance to cover the unexpected...
The largest segment of Americans today, about 130 million consumers born before 1965, constitute the largest generational demographic this country has ever seen — and they represent upwards of $3 trillion in spending power for goods and...
Recently, much information has begun circulating about the practice of stranger-oriented life insurance (STOLI) in the life settlement industry. Some of this information is, however, misleading or just plain wrong. For one, the process of a STOLI...
In 2007, the relatively young life settlement industry continued to grow, a trend that is expected to continue in 2008 and beyond as a number of new developments and changes occur in the market. According to a May 2006 Bernstein Research report...
You may have a client - or several - who originally purchased a large life policy to financially protect their spouse, provide for their child, or help facilitate a smooth transition of their business in the event of the client’s death. But...
‘Irrational exuberance’ settles down as secondary market continues to mature In 2006, Agent Media’s first-ever life ...
Among several regulators’ proposals to help rein in what some see as an unwieldy life settlement market is the push toward commission disclosure and standardization, with much being made of a handful of agents earning astronomical commission...
Marketing
You may have heard about the millionaire next door. Now, with a worldwide increase in personal wealth, many of us may be surrounded by those millionaires — and more are moving into the neighborhood every day. According to research from...
Clients and prospects constantly need to be educated so they know and understand the value of your products, services, or practice. Plus, they need to know exactly what to do with this information, or they may never figure out what you want them to...
When a producer is in a sales slump, nothing seems to go right. Real life has a way of intervening, and sometimes the negative outcomes pile up. The slam-dunk case that is all but written goes south, the application that was submitted last week is...
Prospecting Corner
The insurance sales funnel has basically been structured the same way for years, with a wide opening at the top that dwindles to a skinny tube at the bottom. The old method of prospecting was to cram as many prospects into the top of the funnel as...
Objection of the Month
How would you respond to a prospect who says… "I’ve heard a lot of bad press about inappropriate life settlement transactions. How do I know that selling my policy is truly the best idea for me?" “While there is both...
Other Stories
WHILE YOU WERE OUT For: JD Date: 3-3-07 Time: 8:35 a.m. Message: Joe, your wife just called and she's locked out of the house and you have BOTH sets of keys! Signed: LJ...