Insurance companies are creating more products that grow with their customers’ finances and needs. Term life insurance has proven itself to be one of these versatile products.
Read moreIt is up to us to seize this moment and be a resource for the “new normal” so that clients are prepared to get back to business, and life, as quickly and safely as possible.
COVID-19 has shifted consumer behavior, but most auto insurers have struggled to respond to those behaviors quickly enough. Moreover, providing consumers with the insurance bundle they need, at the time they need it and at a rate they can afford remains a long-lasting challenge for many insurers.
In general, AG 49 reduced illustrated rates in the industry, producing customer expectations that are more likely to be met. However, IUL is still relatively new and, because the industry is innovative, new IUL designs were introduced that had not been contemplated when AG 49 was passed.
As we head into our first COVID-19 winter, and with a vaccine at least several months away, advisors and clients alike must prepare for increased social distancing and additional reliance on virtual meetings.
Although open enrollment season is the logical opportunity to start this journey with workers, the effort should not end there – employers must educate and support workers all year round.
Heading into the election, polling data and market signals disagreed on how close the presidential election would be, with market signals calling the race much closer—which turned out to be accurate. Now that we have more clarity on the results of the election, we can review what we believe will be some of the key market implications going forward.
In July, 69% of consumers said they had a greater need for adequate health insurance, while 58% said they had a heightened need for adequate life insurance. This level of concern was almost as high as the 72% of people who were concerned about having enough paper products (tissue, toilet paper and paper towels)!
As shown in the LPL Chart of the Day, since 1952, with surprising regularity, US voters have given each party a second term in the White House to complete its legislative agenda. With equal regularity, they have flipped the party in the White House after eight years, resetting the balance of power in our two-party system.
An income tax increase is more likely than an estate tax increase. And it all depends on whether the Senate flips to Democratic control.
At some point in their career, a financial advisor is likely going to feel professionally lost. They’ll feel stuck, and most critically, they won’t know how to move forward. These situations can be frustrating and frightening, but with the right balance of acceptance and action, advisors in these situations can get back on track.
Many protection specialists will agree that the most valuable asset for working-age clients is their income. Without an income stream,…
If you ever have presented an annuity solution to a client or prospect, you have probably heard the reasons why they didn’t think an annuity was the best solution. Here are some reasons why an annuity is the best solution.
As we race toward the end of 2020, one thing remains pretty clear: Things aren’t going back to normal. In…
Research shows that people with a guaranteed lifetime income source tend to be happier and live longer. I still remember The Wall Street Journal headline “The Secret to a Happier Retirement is Friends, Neighbors and a Fixed Annuity.” The article said those surrounded by friends and had sources of guaranteed lifetime income were happiest in retirement.
Imagine this: you’re great at your job. You make sales, you manage your clients’ assets well and you’re an attentive advisor who makes sure to follow up. But you can’t get a call back from referrals and your prospects aren’t scheduling appointments. You can’t figure out why.
An insurance advisor believes everyone should have a stake in the health care dollars they spend.
To be an effective advisor, advisors must practice self-care and support their self-development. The pandemic is forcing advisors to take a deeper look at their practices and their lives.
Ways to gain your prospects’ attention, keep them engaged and provide them with solutions as we continue to meet with people in the virtual world.
COVID-19 fueled a surge in early retirements. Here’s what your client needs to consider if they are planning to leave the workforce sooner than they planned.
Life insurers have two objectives: to convince customers of the need for life insurance in the first place, and to convince consumers that their company’s offering is worth the cost and effort involved in securing coverage.
A number of trends in the insurance industry are moving us forward into a better future — for insurance companies, financial professionals and consumers alike.
The recent correction in the S&P 500 Index’s technology sector presents a unique challenge to markets following a historic stretch of outperformance as technology’s share of the market has ballooned in size.
Public relations can increase your credibility while providing a technology-free way to reach your audience.
Establishing an irrevocable life insurance trust can remove the assets from a taxable estate. The owner makes annual distributions from the IRA, which pays the taxes on the withdrawals, and funds the life insurance inside the ILIT. Repositioning assets into a favorable tax saving vehicle means clients can leave more to their beneficiaries.
One COVID-19 complication that doesn’t get as much attention as its physical and emotional toll is the financial impact it can have on those who become sick from it.
The insurance industry is in the midst of a paradigm shift. The rise in digitization is bringing a host of technologies that are disrupting the industry, while bringing new efficiencies and expanding business opportunities to everyone in the insurance value chain. It’s also changing the way we do business.
According to the World Health Organization, more than 60% of health outcomes are the result of social determinants of health such as economic strain, food insecurity, housing instability, social isolation and poor health literacy. These social risk factors in people’s lives create significant impacts in their health outcomes, utilization patterns and costs.
Prospecting, obtaining referrals and securing business in financial services require a foundation of trust among multiple parties. You can use just five percent of your time to network with confidence – generating and maintaining likability and trust by elevating your professional presence.
With the COVID-19 news better, the economic recovery remains on track, albeit with some areas of concern. One worth watching is consumer confidence and spending, with signs of weakness. Financial markets continue to show turbulence, as investors process the headlines. Let’s take a look at the details.
As employers look for new ways to contain health care costs, more are looking into reference-based pricing – the model that sets top prices for specific prescriptions, procedures and services. Because this model is still relatively new, your clients (and their employees) may have more questions and require more education than with other plans.
Whether it’s life insurance, annuities, stocks, bonds or any other product, contract or construct, the need for or desire to own the products you sell relies on your client’s perception of the current and future tax implications. And the tax code is a rapidly moving target.
When we focus on our closes, we’re chasing commissions, not building our business. We spend time with prospects who will never buy from us because we’re afraid – afraid we’ll lose something we don’t have. What would Tom Brady do?
The COVID-19 pandemic has put a spotlight on the significant role life insurance plays in the cycle of life, as well as the importance of modernizing the sales model to withstand dramatic disruptions to the ways the industry typically operates.
People might not have been able to prepare for a pandemic, but they can prepare for a disabling accident or illness that can happen at any time by getting disability insurance.
It’s vital to start your career off the right way to avoid the pitfalls that eliminate many insurance agents from the industry. Here’s a list of Top 10 tips to combat the high rate of new agent drop-out rates. Following these recommendations may make the difference between failure and success.
A second term for President Donald Trump would likely feature a continuation of the pro-growth policies from the first term of his administration, and importantly for financial markets, a continuation of the status quo.
The onus is on employers — your clients — to ensure they are communicating their offerings effectively and are prepared to handle an influx of questions. This is difficult in a normal year, but COVID-19 has added the complexity of doing almost, if not all, of it remotely.
Why does the phrase “Do you want fries with that?” work so well? This well-known food franchise knows if they said, “Our fries are really tasty but fattening, but let’s worry about that another day,” they would not sell as many fries.
