One Aspect of an Annuity Contract

Presented by David Corwin   One of the least thought about benefits of providing annuities to your clients is that the annuitant can, in most cases, have complete control over how their beneficiaries will gain access to the money at the client’s death.  When presenting an annuity contract, don’t forget to share this important aspect with your client or potential client.  It doesn’t take the place of a trust or will, but for a lot of people it would serve a very valuable purpose.  While your client may be looking at purchasing an annuity contract for retirement purposes, they may also be concerned that one of their beneficiaries (often a child) isn’t financially responsible enough to appropriately handle a lump sum payout.  In many cases it seems the client just names a beneficiary and the contract is issued; however, it should be presented to the client that they can pre-select alternate payout options when the contract is written.  For example, they could choose a ‘life payout with 15 years certain’.  In this scenario, if the client passes away, the beneficiary would receive the remaining number of years left in annual installments, rather than in a lump sum. Just another aspect of annuity contracts that many advisors may fail to mention.  
Life Insurance

Three ways for a Property and Casualty Agency to…

Presented by Brian Leising   Are you concerned about losing clients to your competition?  Looking for new ways to boost your retention rates and grow revenue?  The average client retention rate is 10% higher when agencies cross-sell products.  Many agencies fail to effectively cross-sell life insurance because they do just a few basic things the wrong way.  You need a plan.  Here is the second of three items that all successful agencies use to sell life insurance to their auto and homeowners clients:  
  1. Understand life insurance must be sold pro-actively. Selling auto and homeowners insurance involves sales skills, but selling life insurance requires a different skill set, a different approach.  People are not required to purchase life insurance.  The lowest price is not going to make the sale.  You have to make them realize they need the coverage.  You cannot throw out numbers of different coverage amounts and expect them to pick one.  You need a system in place to determine the amount and type of coverage needed for your client’s situation.  It really doesn’t matter if you use a computer program or a quick analysis on a napkin, have a system to use and use it, every time.  In the end, the computerized systems and the shorthand napkin systems arrive at nearly the same coverage amounts.  People only buy life insurance for two reasons, they love someone or they owe someone.  All systems take these reasons into account.  We tend to look at them as debts to pay off (owe someone) and income to provide (love someone).  Looking for a system to use?
    1. Financial Brokerage quoting engine needs analysis
    2. Calculate Your Needs from
    3. My two-column shorthand system (article coming soon!)
    4. The four zeroes (0000) approach (article coming soon!)
Start using one of these systems this week, then check back next week for part three.
Long Term Care and Disability Insurance

Have you asked unsettling questions that may be vital…

Presented by Donna Ries   No one likes to think about purchasing Critical Illness insurance whether it be for personal or business reasons.  Learning how to ask alarming questions may help your prospects realize the need for coverage.  Critical Illness coverage gives you another opportunity to get in front of your existing clients.  Using these powerful techniques called “disturbing questions” will help your prospects see the problem. View Ken Smith’s, Assurity Life Director of Health Product Sales, brief video blog on Critical Illness and Disturbing questions. Mr. Smith points out how Critical Illness insurance can be a solution for business owners.  He has examples of how to ask disturbing questions to identify the problem, then use stories to present the solution.  As he states, “It’s not about the product, it’s about what the product does” that may lead to Critical Illness sales.   Contact your Financial Brokerage marketer today at 800-397-9999 to help you with your next Critical Illness prospect sales solution.