As Baby Boomer advisors age, business continuity and succession planning are on everyone’s radar. The average age of financial advisors in the United States exceeds 50, and, according to Cerulli and Associates, less than 12% of advisors are under the age of 35.
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Ways to make your insurance sales process more efficient while increasing customer satisfaction.
With “normal” finally within sight, brokers and their customers are coming to grips with the ripple effect the COVID-19 pandemic has had on every aspect of the health care industry — and, in many respects, how America does business.
Why offering better vision benefits will help boost employee usage, lower benefits costs for employers and workers, and retain the best employees.
It’s not uncommon to hear responses like “I’ll think about it,” “I have enough insurance” or even “I don’t like insurance.”
Here are some of our lessons learned that might be helpful to those already in this business, and to those contemplating entry into it.
Even among workers who have access to disability insurance, there’s a disconnect between their financial concerns and how to use insurance products to address those concerns.
Amid a challenging labor market and unsettling unemployment figures, the insurance industry may provide opportunity for job placement and career growth during this challenging time.
Despite consumers’ widespread adoption of digital channels to engage with insurers, most insurance sales still finalize offline or in-person.
By guiding your customers through their digital journey, you can build your customers’ confidence in their purchasing decision.
Can government have a role in health care and still preserve the advisor? One insurance professional shares his ideas.
The cannabis industry is growing rapidly, but getting the necessary insurance coverage for this business can be tricky, thanks to a slew of complicated regulations.
A customer-centric claims process is exactly as it sounds: a claims experience that puts the customer at the center of the process.
What are the barriers keeping women from entering and staying in the financial services industry? One industry leader shares her experiences in identifying roadblocks and knocking them down.
But as we hit the one-year anniversary of pandemic-related lockdowns, the lack of clarity in applying business interruption insurance persists as insurance carriers and courts apply policy considerations in strikingly differing manners. This is resulting in wildly varying outcomes for insureds.
The realization that most Americans aren’t ready for retirement has caused many states across our country to take initiative to help increase retirement plan access and savings by implementing state-run programs.
In a competitive market in which advisors are squeezed for costs, the means for differentiation are an advisor’s time and attention.
Some of the proposed changes to the Affordable Care Act could fundamentally shift the way people in our country get their health insurance.
Think about clients who have money in IRAs, annuities or other brokerage accounts that they are using for emergency funds. Instead of leaving the money in a taxable account, consider repositioning those tax-inefficient dollars into a tax-free solution that offers additional leverage.
Although no insurance professional should provide legal advice to clients, they often can provide a nudge to clue the client in on issues that may require legal representation or, at minimum, some legal advice.
Every American knows how critical video meeting platforms like Zoom have been holding our families and workplaces together in the past year. For many agents, learning how to use such programs was the push they needed to catch up with a key technological trend.
There are benefits to controlling an index’s volatility for purposes of index-linked annuities and life insurance.
COVID-19 shed light on several overlooked aspects of health care, such as employee well-being benefits and telemedicine services. In turn, workers started paying closer attention to their health care benefits and asking, “Do I have the coverage I need?”
In our evolving digital world, there is a growing demand from consumers to meet them where they want – and increasingly they want to meet in the social space.
Planners spend their days meeting with clients, working on plans, educating themselves, keeping up with responses to calls and emails, marketing, and trying to find moments to gather their thoughts. The to-do list can feel overwhelming and unapproachable. But, it is possible to organize these tasks and take back control of your time.
To the surprise of many, the Department of Labor allowed the previous administration’s final fiduciary advice regulation to take effect. Financial professionals should consult with their compliance officers or legal advisors for specifics, but here are some key items to address.
Given the current constraints of COVID-19, face-to-face meetings are logistically impossible, and the market is increasingly unpredictable. So how do registered investment advisors learn to navigate the current virtual M&A market?
The outlook for the year ahead is on the upswing. With the Federal Reserve continuing to maintain short-term interest rates near zero and vaccinations increasing in number and availability, the prospect for reopening the economy and returning to normalized growth seems likely.
Digitalizing processes should not be seen as a replacement for the existing agency model. On the contrary: Digital technology should help insurers to automate standard processes and enable the agent as they advise the client to add an extra layer of personalized services.
The Securities and Exchange Commission released the first proposed changes in the rules affecting advisor advertising in 40 years. But what did they change?
Here are four ways to calibrate your team’s culture and help your clients find success.
According to estimates from recordkeepers and employee benefit research organizations, the average retired couple will spend over a quarter million dollars for healthcare and medical expenses in retirement.
If clients become disabled and no longer have an income, it hinders their ability to afford other financial products and can throw a wrench into their retirement planning.
When you consider the real returns of indexed products over a long period of time, including those magic zeros, how much has the purchaser really gained or lost relative to other options such as whole life?
Retirement planning is a long-term strategy. Here are some ways advisors can support their clients’ retirement readiness during times of market uncertainty.
The pandemic has brought numerous struggles and challenges for advisors. But it has opened new opportunities to make connections and to communicate with prospects.
Since today’s customer expects fast and relevant services from any provider, it is time for insurers to ask themselves what they know about their customers, and what they can predict from their customers’ behavior.
If a customer reaches out to you, desperate to manage rising cost-of-insurance costs that are in excess of the policy’s investment income, what recommendations do you provide? That customer could surrender all or part of the insurance to reduce the premium burden. A life settlement is also an option, however. And often, it’s an option with better financial outcomes for your customer.
COVID-19 was an unexpected catalyst, pushing the need for paid family medical leave laws more urgently than ever before.
The spike in cybercrime has driven demand for cyber insurance, and prospective buyers are requesting higher limits. Price and capacity remain notable barriers, however, and it is too early to say if demand will translate into sustained market growth.
The diversity of penultimate moments can make them difficult to recognize if you aren’t looking for them. Many people in various industries focus only on an envisioned finish line instead of their personal or professional journeys. Aside from making life duller, this outlook also turns life events from steps to evaluate into obstacles to overcome.
The SECURE Act opens new opportunities for advisors to discuss long-term care planning, life insurance and guaranteed income with clients.
It’s no secret that insurers have been hit by a wave of COVID-19-related litigation. The most recent count shows 1,328 lawsuits have been filed on behalf of policyholders.
The COVID-19 pandemic has caused an increased demand for benefits like telehealth, employee assistance programs (EAP) and mental health services for employees. Employers will need to move beyond traditional employee benefits to gain a competitive advantage in the talent marketplace.
How the pandemic has elevated the advisor’s role in helping employees remain on course for retirement.
Social determinants of health are rapidly becoming more important to employers looking to provide new benefits and more attractive policies…
The implications of the pandemic are far-reaching, but one that we already see in the life insurance industry is the impact on mental health.
