Life Insurance

Life Changes. Are Your Clients Prepared?

Presented by Gary Peterson Sometimes it benefits your client to have them pay a little more for their term insurance. Check out the short article below: Life Changes.  Are Your Clients Prepared? By Rachel Perez, Sales Development Specialist with North American  When it comes to helping your clients select a term life insurance policy, you always want to help them find one that’s right for them. With all of the different companies and products out there, how do you choose the best one for your client?  You may just focus on price—the cheapest policy wins.  But it’s important to remember that not all term insurance is the same. The cheapest isn’t necessarily the best.  Convertibility is a very important feature of a term policy.  A conversion option is valuable because it protects your clients’ insurability in the future. Life changes, and so may your clients’ health and insurance needs. If they become uninsurable during the term of their original policy, they might still be able to convert a portion or all of their term death benefit coverage to a permanent life insurance plan without showing evidence of insurability.  Convertibility isn’t just about term, though. You and your clients must also consider the other products that carrier offers. Discuss the potential products available to your client down the road if they were to convert their term policy to a permanent product.  Know the convertibility features of the term products you sell! You can help your clients choose future options and feel confident that you’re helping them select the best term product for their needs—not just the cheapest.
Life Insurance

Sales Concept Playbook

Presented by Gary Peterson Agents are always asking the question, “How can I get my clients and prospects interested in buying Life insurance?”  At Financial Brokerage, we have partnered with many carriers to offer sales ideas and concepts for you to use.  Here is an example from North American’s “Sales Concept Playbook”. Legacy Building: Help Maximize Assets Passed to Beneficiaries “Leverage is a term that most people have heard but few take advantage of. Life insurance provides an opportunity to use leverage to pass on greater assets to your heirs.  Think of it as buying dollars for pennies. If you have funds available to pass onto your heirs, each of those pennies can buy dollars and, therefore, leave behind a greater financial legacy.  The leverage of life insurance makes this possible.” Questions to ask:  “Do you have funds that in your mind are already set aside for passing on to your heirs at your death?”  “Are you sure you won’t need these funds in your lifetime?”  “Would you like to explore how, using those funds, you could multiply the amount of financial legacy you leave for your loved ones?”  Give us a call at 800-397-9999 and let’s work together to increase your Life Insurance sales.
Long Term Care and Disability Insurance

The Element Advantage – a practical, accessible, and affordable…

Presented by Michelle Daharsh A new long term care solution was introduced to the industry in late June of this year. Designed by Genworth, this plan was built around their flagship product – Privileged Choice Flex 3. The concept of Element is to still offer comprehensive coverage for long term care but make the process for the client easier to understand, requires minimal decisions for them to make, offers an expedited process through underwriting, and is designed to reach more of the middle market with affordable coverage. Element features four preset packages and two decisions to make: determine what level of protection your clients want, and for couples, if the optional Shared Coverage benefit is desired. The four plans available are the Element 25, 50, 75, and 100. These plans correspond with the coverage maximum dollars available of $25,000, $50,000, $75,000 and $100,000. These options allow the client to choose the level of coverage that works best with their needs and budgets. The Element plan still includes monthly reimbursement, 1st day home care, inflation protection of 2% compound, waiver of premium and return of premium up to age 65. The belief of selling smaller, easier to understand coverage packages shouldn’t require the same amount of time and effort as fully customized larger plans. With one underwriting category the new business process is expedited, along with minimal additional requirements being used, thus making the policy coverage available faster for you and your client. The Element brochure is a helpful sales tool to walk a client through the sales process. It includes the prequalification questions, description of the plan, examples of coverage, and monthly premium rates. So if you don’t have access to the internet or quoting software you can still provide your client a monthly price! Take a look at your book of business and see which of your clients decided against Long Term Care coverage because of premium cost. Maybe Element will be the right fit for them! If you would like the Element Brochure to help you along the way, contact Financial Brokerage at 800-397-9999 and we can provide you that resource!
Life Insurance

Insuring a Non-Working Spouse

Presented by Jim Linn Have you ever considered the cost to replace a stay-at-home spouse?  According to an article on http://www.businessinsider.com/value-of-stay-at-home-moms-2013-5 that value is in excess of $100,000 per year.  Consider the fact that the role of a stay-at-home spouse encompasses cooking, cleaning, errand running, chauffeuring and child care along with a list of additional daunting day to day tasks.  In the absence of this individual, the surviving spouse would be faced with the costs to hire someone to assume these duties.  Life insurance can provide a lump sum benefit that can provide the needed income to cover these costs.  Even though the non-working spouse does not receive a pay check there is still value in what they do and insurance carriers recognize that.  The amount of life insurance that can be placed on a non-working spouse varies by carrier and is anywhere from half of the working spouses amount of coverage up to 100% of the working spouses coverage.  As you meet with families that have a non-working spouse be sure to educate your clients on the value of a non-working spouse.  As always, your life marketing managers are here to assist with any questions you may have.  You can reach them at 1-800-397-9999.
Long Term Care and Disability Insurance

Are Medicare Supplements On Your Radar This Fall?

Presented by Leonard Berthelsen That time of the year is quickly approaching where there is much focus on the Medicare program and supplemental coverage that is a part of your client’s insurance portfolio or soon will be.  Are you ready, do you know how the whole program works? Let’s start with a common misconception about Medicare Supplement insurance coverage.  Most Medicare Supplement coverage is sold throughout the year and not during the so-called “open enrollment” with the Medicare system.  Medicare recipients can change their supplement coverage throughout the year going from one carrier to another as long as they can qualify medically for the coverage. For those turning 65, they have an “open enrollment” window of seven months to officially sign up for Medicare; three months prior to their birth month in which they turn 65, their birth month, and three months after their birth month is the eligible timeframe for enrollment without medical underwriting. Many clients simply want to know what their health care costs are going to be after Medicare makes their determination on payment.  A supplemental plan can eliminate or make the remaining costs very manageable and take the guesswork out of the equation.  They have to be instructed on how it all works. Are you ready? Every day, another ten thousand people are turning 65 here in the US and are now eligible for Medicare. Are you positioned to talk with this huge trove of potential clients?  They are looking for advice and guidance on what product best fits and helps them alleviate potentially huge medical expenses.  Medicare Supplement coverage for over 60% of eligible recipients will be the answer.  Are you going to be the one to bring it to them?