The framework of client trust, like a building, requires a strong foundation. In this case, that foundation is questions. Every question causes an emotional reaction. To remove a negative emotional reaction, preface questioning by explaining the purpose for the questions.
In The Midst Of Chaos, Opportunity For Health Agents
The number of uninsured has gone back up and health insurance premiums have never been higher. More consumers than ever are saddled with health care debt and are being forced into bankruptcy. How can health agents help?
What Brokers Should Know About Family-Building Benefits
Dramatic shifts in family-building benefits place brokers in a prime position to deliver custom packages to their most influential client base. Employers have never been more competitive in their need to attract and retain top talent, offering inclusive benefits that are tailored to meet the needs of today’s evolving millennial workforce.
NAIC Annuity Sales Model Law Teed Up For Dec. 30 Adoption
If the A Committee formally adopts the reworked annuity sales model next week, as expected, then it will go to the National Association of Insurance Commissioners’ Executive Committee and Plenary for final approval. States will then be able to adopt the new rules in 2020.
SECURE Act, Signed By Trump, A Game-Changer For Retirement Plans
Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019. For example, the bill raises the age for required minimum distributions (RMDs) from 70 1/2 to 72 years old. As long as you’re working, you can still contribute to your IRA after age 70 1/2. Previously, you couldn’t.
While advisors certainly help clients manage money, they add even more value by helping a family make personal financial decisions, few of which are more personal than the choice to pursue a college education. Here are some important strategies to consider.
Is Your Uber-Driving Client Covered By Personal Auto?
Asking clients or prospects about ridesharing can open the door to a conversation about adequate auto coverage. Rideshare drivers might know personal-use auto insurance will not cover liability for commercial use unless the policy has a ridesharing endorsement. But they might not know about the gray areas where coverage gets questionable.
The National Cannabis Risk Management Association (NCRMA) and Garnet Casualty Insurance Corporation (Garnet) have announced a partnership that organizers say will bring normalcy to the nation’s cannabis insurance market.
RIAs Getting Bigger Slice Of $7 Trillion Pie
The independent broker-dealer space is growing at a healthy pace, but just not as healthy as registered investment advisors are, one leading analyst said. That is one trend line not likely to change anytime soon, said Chip Roame, managing partner of Tiburon Strategic Advisors.
Life insurance can enable your client to pass on wealth while they are still alive.
Annuity Sales Down 8.4% In 3Q; Up 7.5% Year-To-Date: Report
Annuity sales fell in the third quarter 2019, decreasing 8.4% as the combined sales of fixed and variable annuities totaled $55.7 billion, according to data compiled by Beacon Research and Morningstar. Annuity sales are up 7.5% on a year-to-date basis, the report found.
Buttigieg Retirement Plan ‘Impressive,’ But How Will He Pay For It?
Released in late November, the Pete Buttigieg retirement plan focuses on ensuring “all Americans experience dignity and security in retirement.” Buttigieg’s plan identifies the three biggest short comings of retirement savings in America.
Plaintiffs Abandon Lawsuit Targeting Security Benefit Proprietary Index
A class-action lawsuit alleging that Security Benefit Life Insurance Co. defrauded consumers by implementing a “fraudulent scheme” involving a proprietary index used in two fixed indexed annuities was quietly withdrawn last week.
NAIC Regulators Move Annuity Sales Model Forward
A key National Association of Insurance Commissioners’ committee put its tentative stamp of approval Sunday on a strengthened suitability in annuity transactions model law. The annuity sales model could be sent to the states early in 2020.
Commentary: Ned Ryerson Is Just As Cool As Gordon Gekko
Apparently, my kids don’t go to school and brag about how their dad sells indexed annuities. Stocks and bonds are clearly more glamorous. I wonder if my kids have watched too many Ken Fisher commercials?
LIMRA: 3Q Life Insurance Sales Driven By 7% Bump In IUL
Total U.S. individual life insurance new annualized premium increased 2% in the third quarter, compared with 3Q 2018, according to LIMRA. Indexed Universal Life sales climbed 7% for the quarter and the year so far, with half of the companies reporting increases, LIMRA said.
Foresters Financial Updates Underwriting To Cover Pot Smokers
Foresters Financial is changing its underwriting guidelines across its non-medical life insurance product portfolio so more Americans who use cannabis can qualify for coverage. “We made the decision to modernize our products to stay in step with this evolving trend,” said Matt Berman, chief distribution officer, Foresters.
Industry, Consumer Reps Take Final Whack At NAIC Annuity Sales Rule
The Annuity Suitability Working Group is preparing to present a tentative draft of its annuity sales model, which the group voted to finalize Nov. 5, to its parent committee this weekend in Austin, Texas. The model incorporates a best-interest standard into existing suitability principles.
3Q Life Insurance Sales Sag Amid Low Rates, Persistent Regulation
While the third quarter is typically a tough quarter for life insurance sales, this year is was “particularly challenging,” said Sheryl Moore, president and CEO of Wink, Inc. With state insurance commissioners working to tighten up regulation of illustrations, it might remain a tough market.
