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All riders are not created equal
With long-term care and chronic illness riders, the devil is in the details. Know the differences before you recommend options to your clients. As aging baby boomers expand the elder population, long-term care (LTC) will continue to escalate in importance as a segment of financial and retirement planning. There was a time when the only … Continue reading
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DI: When to get it and when to lose it
he best time to get a disability insurance income protection policy (or any other form of coverage) is just prior to a disability! Seriously, even though that is not an inaccurate answer, the best time to get coverage is at the earliest possible moment when it is both financially feasible and practical, even though there … Continue reading
To Guarantee or Not to Guarantee for Life
Permanent life insurance is designed to provide financial security for beneficiaries after an insured person passes on. As insurance carriers retain sufficient assets to pay death benefits while also making a profit, the products they offer have evolved as economic circumstances have changed. The challenge for the industry is to safeguard the future for the … Continue reading
The Origins of an Industry [Life Insurance]
Brian Anderson is Editor of Life Insurance Selling. Everybody knows the Roman Empire was a remarkably advanced society. They built aqueducts and roads; the Roman Legion was perhaps the most formidable military force in history; and the Romans made big advances in language and judicial law, just to name a few significant achievements. But while … Continue reading
Technically speaking, life insurance is behind the times
Robert W. “Bob” MacDonald, CLU, started selling life insurance in 1965 as an agent for New England Mutual Life. In 1999, his company, LifeUSA, merged with Allianz Life of North America, and MacDonald became the company’s CEO. Under his leadership, Allianz Life doubled in size. He retired in 2002 as CEO and as chairman in … Continue reading
Top 12 Myths about Life Insurance
There’s something about life insurance that just freaks some people out. For one thing, it forces them to confront the notion of dying. For another, it demands they think about tomorrow when they don’t know what to do about today. So instead, they stick their heads in the sand. It’s not surprising then, that according … Continue reading
Declined for Life Insurance…Now What?
After many grueling hours of researching life insurance companies and comparing quotes, you submit your application only to be told that you are not eligible for coverage. While you probably have an opinion about whether or not this decision was fair, the best thing you can do is to get a second quote. No two … Continue reading
The Brokerage General Agency: Your Partner in Technology, Knowledge and Carrier Relationships in Selling Life Insurance
The Brokerage General Agency: Your Partner in Technology, Knowledge and Carrier Relationships in Selling Life Insurance In today’s world of cumbersome illustrations, difficult applications, confusing contracting and varied state regulations, the typical independent Life Producer may feel that their best practice is to avoid anything more complex than recommending the most basic coverage to only … Continue reading
The New Term/Universal Life Products: A Game Changer? Maybe!
If you can say one thing about the life insurance industry (being as conservative as it is), innovation and overcoming the obstacles of regulations and new law is its distinction. One particular noteworthy innovation is the term/universal life (UL) combo that is hitting the marketplace. These products were created primarily in response to the reserve … Continue reading
The nine lives of second-to-die
Second-to-die policies can help with estate taxes, but that’s far from all. Second-to-die life insurance, also called survivorship life, is most closely associated with the payment of federal estate taxes. In fact, it is accurate to say that such policies were created for that specific purpose. This is an industry, however, that is hard to … Continue reading
The annuity evolution
Features available on today’s fixed indexed annuities can give consumers the growth and safety they crave while allowing carriers to survive a low interest rate environment. The headline on a recent Bloomberg news story was eye-catching: “Low Rates May Be ‘Devastating’ to Annuities, Group Says.” The article centered on a speech by LIMRA Chief Executive … Continue reading
How innovative producers are using today’s hybrid products
By Charles K. Hirsch, CLU From the December 01, 2012 issue of Life Insurance Selling. Charles K. Hirsch, CLU, is a contributing editor at Life Insurance Selling. In this dynamic year for long-term care insurance products, a lot of agents have added the relatively new hybrid products to their sales portfolio. These products, which either combine … Continue reading
Life insurance: An overlooked asset class
When added to a portfolio, life insurance can boost both diversification and risk protection. Financial advisors certainly have their work cut out for them in today’s uncertain environment. But they also have the opportunity to lead the way on best practices and become clients’ voice of reason. Being a voice of reason includes the ability … Continue reading
Don’t file those life insurance policies away
With lower interest rates, it is crucial that advisors keep an eye on the condition of in-force policies. Life insurance is a key component of any estate plan, but chances are, your client’s life has changed since he purchased it — and so have his financial needs. Given the shifting economic realities of the past … Continue reading
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