Life Insurance

Breakthrough Life Insurance Solutions That Make Sense for Today’s…

Presented by Gary Peterson In today’s market, the middle class is in need of life insurance to protect their families. Assurity Life has introduced a product that is family oriented. Using a small permanent plan coupled with a term rider through their First to Die whole life will allow the couple to have protection in the event of a death at an affordable rate. I have attached some information for your review. Click here
Annuities

Get the Facts

Presented by David Corwin The other day I was doing some landscaping in my front yard and my neighbor (works at a tree farm and has an opinion on everything that grows) proceeds to tell me what I’m doing wrong and the reasons why I should be doing it a different way.  By the time he finished, I realized that he just debunked everything I had just learned on YouTube!  I was, in fact, learning from an actual expert on the subject matter and what a big difference that makes. It works no differently in financial services, but this is much more important than helping your clients do yard work!  When I talk with agents that are successful, and I mean really successful, the main difference is that within the sales process they have developed a way to gather facts from the client and can then translate those facts into a solution that fits their unique needs.  The opposite of that is transactional selling, also known as order taking, which seems like a great temporary solution but may actually do more harm than good in the future.  If an agent is an expert in their field and does proper fact finding and planning, the client’s world is a better place.  If not, the client deserves for it to be that way.  These simple steps will help:  A) be an expert in your field; B) find out all the facts you can about your client; C) provide solutions that are more than the next transaction and D) you’ll have a client for life!  If you need fact finding worksheets and other materials that can help guide you, please contact me at 800-397-9999.  I can help!
Long Term Care and Disability Insurance

As a Producer, it Might be a Good Time…

Presented by Leonard Berthelsen There has been a fair amount of concern and frustration in recent years among producers and consumers towards long term care insurance and what seemed like never-ending rate increases.  The amount of uncertainty related to increased rates are concerning to both existing clients and new prospects. Rate increases in previously written blocks of business probably will have some additional adjustments in years to come as the carriers grapple with trying to keep those plans above water and still profitable, especially in this low interest rate environment.  We certainly want them to pay their claims and fulfill their commitment to their policyholders, so rate adjustments become a necessary evil. Carriers today now possess more experience with this product which provides an opportunity to better understand the claims process, persistency and mortality which all bode well in the pricing of new plan designs that carriers are implementing.  Carriers are concerned with having to raise rates on clients after they purchase the insurance and are looking for ways to mitigate that issue as much as possible. Some carriers have introduced plans that have small automatic increases in premiums at set intervals throughout the plan’s lifetime.  These plans are still competitive and affordable and this design could potentially prevent rate increases later down the line. Others have brought out plans that have a credit account built into their product that allows the credits, accumulated over time, to be used to offset any rate increase that the carrier may need.  Again, this is another attempt to find a way to minimize the need for rate adjustments later on. Additionally, the hybrid and linked benefit products could be the right product for some clients. If the client is investing money into an annuity, and long term care needs are even a mild concern to them, then having an annuity with long term care benefits might just make sense.  Even if long term care issues never present themselves, the annuity value is still there to provide income or a means of funding their legacy.  There are linked benefit products that give life insurance and long term care equal footing in the plan.  If the long term care benefit is never used then the life insurance is paid out at time of death.  If long term care is needed, then the life insurance amount available for payout at death would be reduced.  The benefits are paid out one way or another. Another option carriers are looking at is pricing for high deductible long term care plans.  A consumer would select a high deductible ($50,000 -$300,000) plan and the insurance benefits would start after the deductible is met. We are seeing a different thought process as well as a different mindset from carriers regarding new innovative product designs.  They realize that their products have to offer the benefits wanted by today’s consumer at a price that is affordable. Long term care insurance products are changing but their importance is not.  There are many different ways to protect your client and their assets from a long term care issue.  The important thing is that you’re having the conversation with your clients about their long term care needs and showing them the many different solutions you can provide.
Long Term Care and Disability Insurance

DISABILITY INSURANCE SOLUTIONS FOR DIFFICULT OCCUPATION CLASSES

Presented by Donna Ries   All occupations have a need for income protection, but some occupations may be more difficult to insure with certain carriers for disability insurance than others.  Two occupations in particular, which have a wide interpretation of DI coverage, are Chiropractors and Paramedics or Emergency Medical Technicians (EMT). Chiropractors are viewed differently by DI carriers; some are willing to insure them, others are not and even others offer limited benefits.  The nature of their occupation is considered risky by both claim experience as well as the physical demands of the job.  Having to adjust their clients by lifting, bending and physical contact with their clients is considered a manual profession.   In a worst case scenario, some DI carriers would not even consider insuring a Chiropractor.  There are other DI carriers that would insure up to a two year benefit period and still others that would offer a Chiropractor a five year benefit period.  So when we think this profession might be one to avoid when considering DI protection, take another look and you might just be surprised. There is even more diversity in coverage choices available for a paramedic or EMT.   At worst, one DI carrier would not consider this profession for coverage, yet another DI carrier would consider for short term disability only.  There are also DI carriers that would offer a two year benefit and another carrier all the way out to age 67.  With physical exertion and initial patient contact, yes there is increased risk but still insurable. The point is that Financial Brokerage offers multiple DI carriers and solutions for both of these occupations and many more.  With the diversity between multiple DI carriers, you can count on Financial Brokerage to find which carrier would best meet your client’s needs. Give these occupations some consideration and give your DI Sales Manager at Financial Brokerage a call at 800-397-9999.  I think you will be pleased by the outcome.