Instead of relying on communication best practices in the sales process to guide them through cold sales appointments, many fall back on their laurels, focusing on their credentials and achievements as sales tools.
With the virus hitting the 60-and-over population hard, your role is to be an informed and an intelligent advisor for this group. Medicare is communicating with them on a regular basis about COVID-19. In the past three days, Medicare sent its beneficiaries two emails.
February saw a 5.6% increase in life insurance application activity from that of January, MIB reported, an increase not seen for this period in the composite index since 2015. However, the persistent coronavirus is likely to dampen activity in the coming months, MIB added.
The National Association of Insurance Commissioners is cancelling its spring meeting March 21-24 in Phoenix, the latest concession to the growing coronavirus threat. The meeting is one of three major conferences the NAIC holds annually and draws hundreds of regulators, insurance executives, consumer advocates and media members.
Because all life insurance products were required to shift to the 2017 Commissioners Standard Ordinary (CSO) mortality table by December 31, many companies reported increased sales of products using the 2001 standard as they rushed to beat the deadline in the fourth quarter.
As the coronavirus continues to scare global markets, it would be easy forget that the current bull market started 11 years ago today. Based on investing fundamentals, analysts continue to believe we’ll see a resumption of economic growth and a continuation of this bull market into at least 2021, but worries are building.
America’s Health Insurance Plans is the latest organization to cancel events due to the rapidly spreading coronavirus pandemic.
New bipartisan legislation could go a long way toward helping seniors pay for late-life care through favorable tax changes, say officials with the Life Insurance Settlement Association. The bill would allow seniors to sell their life insurance policies and use the proceeds, tax-free, to pay for their health care costs.
The National Association of Insurance Commissioners will be holding a full-day special session of the nations’ chief state insurance officials on March 22, 2020, to discuss state response and coordination around COVID-19.
Any advisor can gain significant advantages by going independent. By charting one’s own course, advisors have the ability to shape their businesses to fit their own vision, not that of a large company. Wayne Minich shares five decades of experience as an independent advisor.
Citing risks from the ongoing coronavirus outbreak, iPipeline has canceled its Connections 2020 conference set for March 15-17 in Las Vegas. The event annually draws hundreds of attendees to discuss technology in financial services.
A GoFundMe request for funeral expenses following the recent Milwaukee shooting emphasizes the need for life insurance advisors to provide solutions to “regular” families. Don’t be afraid to prospect in your everyday life. Someone might one day thank you for it.
The state Assembly passed a bill 78-0 last week banning STOLI and sent it to the Senate, which previously introduced the legislation. The Democratic caucus is leading the effort in both houses and Gov. Phil Murphy, D, is likely to sign the final product.
Fears of coronavirus becoming a global pandemic is causing the cancellation of many conferences as companies seek to avoid concentrating large numbers of people in confined spaces. But trade associations and companies in financial services are going ahead with planned conferences.
In direct premium life insurance, Northwestern Mutual ascended to the top spot with a 7% market share and $11.3 billion in premium.
Americans see employers as having a dual role to play in addressing risks associated with the virus, both in protecting their health and well-being and as trusted providers of information about the disease and resources to help manage its impact.
The Eighth Circuit Court of Appeals handed a big victory recently to Liberty Insurance Underwriters over the use of life insurance in a company stock dispute.
The court will hear the case in its new term, which begins in October. This means that the Affordable Care Act will continue for at least another year.
According to a recent LIMRA study, 3 out of 4 life insurance companies in the U.S. and Canada have some type of automated and/or accelerated underwriting program. One in two companies has both.
