How do you think most people would answer the following question: “If you were to unexpectedly die, become seriously ill or get disabled, would you and/or your family suffer financially?” Since most almost always answer, “Yes,” think about this next question: “Would that bother you? Especially if it meant that you and/or your family could no longer afford to stay …
Read More »Insuring Foreign Nationals: Changes in Underwriting Criteria Create New Planning Opportunities
Acquiring life insurance for foreign nationals has always been a difficult segment of the market. This is especially true for those who do not reside in the United States. As our economy continues to grow into one that is global in nature, we come into contact with individuals from all over the world who need help. Until recently, insuring these …
Read More »Single Premium Life Wealth Transfer—Years of Opportunity for Agents in the Senior Market
Many agents working with seniors are missing the opportunity to show clients how to maximize their legacy to heirs by not asking simple wealth transfer questions; and when it comes to wealth transfer, few solutions work as simply or as well as single-premium life (SPL) insurance. It is estimated that over $40 trillion in accumulated assets will pass to heirs …
Read More »Creating a “Love Drawer”
Some financial professionals believe that life insurance should be viewed as “love insurance.” As cliché as it may sound, it certainly has a tremendous amount of merit. What better gift is there to give your loved ones upon your death than a large sum of money to be used for such things as income replacement, college tuition, retirement, debt repayment, …
Read More »Life Insurance Trusts & Trustees—Five Reasons That It’s Time for an “Annual Review”
It is very typical for clients to have some or all of their life insurance held in a trust. The reasons are numerous (too many for this article) but suffice it to say that this ownership structure is utilized frequently and is part of sound estate planning. Each of these trusts must contain a trustee or trustees who have accepted the responsibility …
Read More »Digital Marketing Organizations: The Death of the FMO?
For the agents, advisors, wholesalers, distributors, broker-dealers and carriers involved in the fixed and fixed indexed annuity and life insurance independent channel, FMO (Field Marketing Organization), IMO (Independent Marketing Organization), and NMO (National Marketing Organization) are common and recognizable terms. For those of you not familiar with these acronyms, they are fairly interchangeable terms for groups that market, sell and …
Read More »Term versus Whole Life: Why Rent If You Can Afford to Own?
For decades, I have studied and learned a wide variety of ways to explain the differences between term and whole life insurance. Regardless of how you choose to review the key differences with your client, their decision almost always boils down to cost. Is it affordable and will it fit into their budget? When you remove the real estate downturn …
Read More »What Would You Do If One of Your Best Clients Died Tomorrow?
Nobody wants to talk about death or dying. However, since we know for a fact that it WILL happen some day, shouldn’t we have a place in our planning for this event? So many people and financial professionals spend their entire lives attempting to create the “perfect financial plan” with the hopes and dreams of becoming financially successful and independent. …
Read More »Get More Referrals Without Asking
You can get referrals from clients and prospects without even asking. All you need to do is plant seeds into their unconscious and watch them go to work for you. I teach 10 different ways to plant powerful referral seeds with prospects and clients. Here are five of them you can use right away: 1. Celebrate meeting a new prospect …
Read More »Solve the Mystery: What Is the “Right Amount” of Life Insurance?
For centuries there has been a great debate over the right amount of life insurance. In fact, if you do a little bit of research on this topic, what you will find is a wide variety of professional opinions, books, studies, classes, and theories—all of which claim they have the answer to the million-dollar question: “How do you explain the ‘right …
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