Life

Nobody likes talking about the fact that, some day, they will die. However, not only is death a guaranteed outcome, but it often occurs at an unexpected time much sooner than anyone anticipates. So, given the fact that death is inevitable, financial advisors simply cannot overlook an overall financial or retirement plan. When my family suffered the loss of a …

In 1974, the Employee Retirement and Income Security Act (ERISA) became law and ushered in the tax-qualified savings plan (also known as the IRA, 401(k), Keogh, and others). Almost overnight, Wall Street advisors lost their biggest and best clients—pension fund managers and workers were cast into the unknown world of managing their own investment accounts. Wall Street shifted its model …

The Prudential Life Insurance Company of America, known in their commercials as the one with the Rock of Gibraltar symbol, has just announced it will discontinue the sale of long-term care insurance (LTC). Obviously, the product has proven to be a disappointment for many companies in the life insurance business, as Prudential is just the latest of many carriers to …

Below, there are five important lessons I would like to share with regards to selling life insurance: 1. Successful sales are a combination of art and science. 2. People buy what they want, but they must be “sold” what they need. 3. Education is the best strategy to help people buy what they need. 4. People don’t want to know …

Losing a loved one is arguably one of the most difficult experiences in life. In addition to coping with the grief and loss of a loved one, there are also a variety of challenging tasks and important financial decisions to be completed, some of which include: Making final arrangements. Reviewing funeral costs and funding options. Settling an individual’s estate and …

Have you ever said to your client, “As long as you pay the premium on time, this policy is guaranteed not to lapse”? Well, as it turns out, it is not that simple and in some cases, not even true. As these policies age, our agency has learned through painful experience that there are a number of traps that can …

As college costs continue to rise, having a college degree is more important than ever.  According to studies by the College Board in 2011, those with college degrees earn 74% more than high school graduates, experience higher job satisfaction and have lower unemployment. For parents like me, college tuition costs can be sizeable. In the same aforementioned study, the cost …

A former Harvard professor, feeling the squeeze of medical bills for his aging mother-in-law, recently sold his life insurance policy—and was happy to do it. “Found money” was the refrain. Shrinking retirement savings, longer life expectancies and slow economy are driving more seniors to life insurance settlements, and they are finding a more sophisticated marketplace receptive to their financial needs. …

For many years I have been working the numbers side of life insurance products, always in an effort to provide clients with the best pricing and the best product alternatives. The rule with me has always been to make the product offering straightforward, clean and in the consumers’ best interests. After the crazy 1980s and 1990s, when many producers were …

There are several truisms when it comes to marketing insurance products to individuals. For example, it is very unusual for an insurance agent to offer products outside of his or her specialty. Life and A&H (Accident and Health) agents usually won’t offer P&C (Property and Casualty) products and P&C agents feel the same way about marketing life products. Agents stick …