Life Insurance

Document Your Appointment

Authored by David Corwin I read an article recently that caused me to think about a few things.  When Insurance Professionals meet with their clients and sell annuities and or life policies, very few of them will document or take extra time to make notes about the appointment.  It is critical to do so due to this litigious society we find ourselves in.  It isn’t the client that you have to worry about; it is the beneficiaries and/or loved ones. This is especially true for older clients that may suffer from Alzheimer’s disease; they may not remember what they bought, much less their own name.  You will be questioned as to their state of mind during the sale and if you don’t have an answer, then there will undoubtedly be ramifications including fines and or jail time. There have been discussions around the country about whether producers should require their prospective clients to take a mental exam before buying a policy. Document everything.  Document statements made by the client during the sales interview.  Those comments in the context of the sales process will help attorneys and courts review the conditions under which the sale was made.  This will ultimately be a good habit to get into not only for the possible lawsuit that might come your way, but also can be a reminder for possible future sales.

Annuity Suitability

Authored by Jim Guynan First of all, an annuity should be considered as a longer-term investment. If, for example, your objective is to save for retirement and you are already contributing the maximum to an IRA and/or employer-sponsored retirement plan, an annuity might be right for you. But which type of annuity? The answer to that question depends primarily on your investment objectives and risk tolerance. Fixed interest annuities may be best suited for individuals who: -Prefer to rely on fixed rates of return -Focus on preservation of assets -Want protection from market volatility -Prefer to delegate investment decisions and risks to the insurance company -Understand that a fixed rate of return may not provide a good hedge against inflation Variable annuities may be best suited for individuals who: -Prefer to invest in equities -Want to make their own investment decisions -Understand that assets can decline in value -Are willing to assume the risk of loss of principal in exchange for the possibility of greater asset growth and a stronger hedge against inflation Indexed annuities may be best suited for individuals who: -Are adverse to risk -Understand that a rate of return linked to stock market performance provides the potential   for higher returns than fixed interest investments, together with the risk of losing money if the issuing company does not guarantee 100% of the principal and no index-linked interest is credited, or if the indexed annuity is surrendered while a surrender charge is in effect -Prefer to delegate investment decisions to others -Want less market risk than with a variable annuity
Life Insurance

Quik Ticket Makes Life Easy

Authored by Gary Peterson Let’s make it easy for life sales in 2013. Use our Quick Ticket applications on our website. No paper, no signatures and the carriers will complete the interview and order the medicals for you. We now have five carriers that make your job simpler. Give me a call and we can discuss this easy solution to your busy schedule. Gary Peterson CLU, ChFC 800-397-9999 x 3368
Long Term Care and Disability Insurance

Small Business Disability Coverage

Authored by Steve Knapp The small business market is a completely underserved market in terms of disability protection. As you know, many states require the business owner to carry workers compensation on their W2 employees, but not on themselves. In addition, businesses with less than 100 employees are too small to qualify for group disability coverage, so many small business owners enroll in workers compensation and leave themselves uninsured. That’s where you come in. You can offer your business owners’ clients a personal disability plan to cover their personal expenses (coverage is 24/7), a business overhead expense plan to cover the business expenses in the event of the owner’s disability, and a disability buy-out plan for corporate partnerships ……all of which are tax deductible to the business. Client approved marketing pieces are available and smart agents direct mail these pieces to small businesses in their local area and follow-up with a phone call.  Need a good reason to call? In addition, you can offer your prospects a free valuation if they apply for a DI Buy-Out plan. The valuation is done by Principal Financial Group and takes approximately 1 week to complete. A proper valuation normally costs anywhere from $3,000-$10,000. Keep in mind, through Principal you can offer your clients a 20% multi-life discount in addition!
Life Insurance

Finding Prospects

Authored by John Schraut Are you sitting around thinking where you are going to get your next prospect?  You have more prospects sitting right in front of you than you know.  Grab your check book and credit card/bank statements – look at all the business prospects you have through your purchases.  These are all potential clients or referrals to prospect.  Here is a list of a few from my bank statement: Hair stylist Auto mechanic shop Heating and Cooling company Lawn care professional Tax preparer Veterinarian Dentist Tailor Photographer (for my 4 year old daughter’s pictures) Dry cleaner Locally owned restaurant I frequent Plumber You will be amazed by the number and types of businesses you have been in contact with already. Get the word out to these businesses and start right away with setting up introduction meetings.