Short Takes
Advisors who yearn to grow their business often face myriad decisions that range from identifying the next segment of prospects to finding and keeping top staff. Yet the first question that advisors should ask themselves as their client roster grows...
Everyone is talking about hybrid premium financing — but what is it exactly, how does it benefit clients, and how do agents sell it? What does hybrid even mean when used in an insurance context? The following is a short explanation of what hybrid...
Premium financing is often introduced to affluent clients as the ultimate planning strategy — the hero coming to the rescue — for low or no cash flow and big death benefits.
If only it were that simple. Let’s first look at the question that...
For many clients, the decision to buy life insurance usually comes down to a comparison of term and whole life insurance, with cost very often being the make-or-break consideration. But comparing term life insurance (which is similar to renting a...
As the protection and investment worlds began to move closer in the 1970s and ’80s and the technology universe began to expand, the life insurance industry recognized the opportunity to give consumers more flexibility, control, and choice....
The insurance industry has seen many social and demographic changes that, in turn, have resulted in additional changes to the design and cost of life insurance products. Many longtime policyholders have recognized these developments and considered...
You’ve spent weeks with a client, pitching the perfect life insurance policy for their needs and finally obtaining the sale. You think you’ve got all the information in order, and your client fully expects a prompt issue. So you submit the...
Every insurance agent I’ve ever coached or consulted with has complained about one major life insurance sales objection that they are the most frustrated with: procrastination. To deal with client procrastination, we must first start by...
No one wants to mention the “R” word — recession — even though it’s on everyone’s mind and news outlets all over the world talk about it daily. Most of us, particularly if we are in sales, like to act as if ignoring economic pain will help us...
Agent Media, LIFE study shows recent trends within marketplace...
Under a recently proposed federal rule, agents attempting to sell private health insurance plans to elderly and disabled consumers would be barred from cold-calling, making door-to-door solicitations, and pitching their product lines outside of...
Broker-dealers were reminded recently to closely supervise all ghostwritten materials their agents distribute to clients in order to rein in any misleading information.
Such materials as defined by FINRA include:
Hardcover books or...
If a recently introduced U.S. Senate bill successfully makes its way to law, investment advisors may be subject to a new layer of scrutiny when dealing with senior investors.
The Senior Investor Protection Act of 2008 (SIPA), introduced by Sen....
In general, how well do these insurers meet your overall needs in the life insurance market?
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Life insurance premiums continue to decrease. About three-fourths of Americans think life insurance is too expensive to fit into their family budget, but the reality is that’s not the case, according to David Woods, president and CEO of the Life and...
Some are pleased: The Medicare Improvements for Patients and Providers Act of 2008, enacted July 15, effectively quashed a 10.6 percent reduction in physicians’ Medicare reimbursement rates, which critics worried would limit patients’...
The United States Supreme Court recently issued a decision dictating how closely courts will scrutinize certain decisions by insurers and their administrators denying benefits. While the case itself involved a fairly narrow set of circumstances, the...
Every September marks Life Insurance Awareness Month (LIAM), sponsored by the LIFE Foundation. This should present a great opportunity for agents to spread the word about such policies, especially with the tools LIFE provides for producers on their...
Marketing
Producers, assignment editors, and reporters are inundated with hundreds of faxes, emails, and press kits every day from individuals and companies just like you that are vying for free television face time. Your primary job is to create credibility...
Young families are ideal for your book of business. They need coverage for their two cars, their first home, and their lives. As more children come along, their houses get bigger, their cars get nicer, and as their earning power increases, the need...