Agent’s Sales Journal August 01, 2006
Short Takes
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Life Insurance Illustrations: Solution or Problem?
Life insurance presentations typically rely on policy illustrations to show the client how a life insurance policy works. They are a tool designed to help the advisor explain an intangible and complex financial product. They display key policy
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MDRT's 2006 Annual Meeting Draws More Than 7,000 Members
1927. That was the year the Million Dollar Round Table (MDRT) was founded. It's also the year MDRT held its inaugural annual meeting. In the beginning, there were 32 members in the prestigious group. Since then, membership has grown to more
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Pay Attention to Your Packaging -- It Could Make or Break a Sale
When a shopper picks up a product in a store, what's the first thing they notice? The packaging, right? The same holds true for someone buying a service. Yet instead of a folded carton with colorful graphics, you are the packaging for your
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Five Design Techniques to Turn Your Marketing Pieces into Marketing Masterpieces
It's almost 5 o'clock on Friday afternoon. Do you know where your newest marketing pieces are? They may be buried on your desk because you've got so many other important details to handle. All of us would like to think our
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Winning the Battle for Annuity Prospects
Question: Is the best method for prospecting to annuity customers direct mail, seminars, or advertising? Answer: Yes. You can't depend on just one method for annuity prospecting anymore. Today, successful prospecting requires a
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Tips to Increase Your Cold Calling Success
There are only three ways to generate leads -- marketing, networking, and cold calling. But you must use them together. Used separately, no one method generates enough of the right types of leads. There's just one problem --
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Prospecting with Presentations
Whatever you call it -- speech, talk, address, lunch and learn, presentation -- the scenario is the same. You have anywhere from fifteen minutes to an hour to deliver your message to a live audience. If you're not taking advantage of
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Overcoming the Six Most Common Sales Objections of a Small-Business Owner
When selling to both large and small customers, you're going to come across a wide array of objections. There are countless sales books offering advice and tactics on how to overcome these objections and close the sale. Some of these issues
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Discount Dental or Vision Plan Provides a New Employee Benefit Solution
Every time you ask an agent or broker, "What comes to mind if I mention a discount plan?" you'll find that few responses are initially favorable. "Discount plans are those low-cost plans they sell on
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HSAs: An Affordable New Option for Businesses
According to a new survey, many small businesses that were giving up on providing health insurance to their workers are finding new options with health savings accounts (HSAs). A survey by America's Health Insurance Plans found that 27
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Three Things to Look For in a Voluntary Benefits Provider
Annual health insurance rate hikes. Higher deductibles. Reduced benefits. Tighter benefits budgets. Shrinking human resources staff. These are just a few of the tough issues your clients are dealing with.
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The Referral Process
There are five major steps that advisors can take to help them create an unlimited flow of quality prospects. Not only will these skills help them eliminate cold calling forever, but they'll be meeting high-level prospects in exactly the way
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Republicans Continue to Press For Estate Tax Reform
If approved by Congress, the pending pension reform bill would add myriad new products and services to the portfolios of insurance industry officials, but Senate Republicans threaten to impede that approval by attempting to include estate tax reform
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CI Insurance Is Top Voluntary Benefit, Study Finds
According to a biennial study by Eastbridge Consulting Group Inc., insurance carriers in the voluntary benefit market identified critical illness (CI), disability insurance, and limited-benefit medical plans as their top three growth products.
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Wealth Advisor Group Formed
Life insurance agents and other professionals who do business with affluent clients have come together to form the Wealth Advisor Institute. Among the many benefits, the group will provide access to information and services for financial
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Wal-Mart Lawsuit Against AIG, Hartford Revived
In a recent ruling by the Delaware Supreme Court, Bentonville, AR-based Wal-Mart Stores Inc. may pursue its fraud claim against AIG Life Insurance Co. and Hartford Life Insurance Co. The claim, previously dismissed by the Delaware Chancery
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Life Insurance Sales on the Rise in 2006
According to LIMRA International, individual life insurance sales for first quarter of 2006 rose 15 percent in new annualized premiums over the first quarter of 2005. The latest survey conducted by LIMRA further shows that although the number
Front Page News
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Living Benefits for Life Insurance: A New Way of Selling
Now that their retirement years are looming on the horizon, many baby boomers are plaguing themselves with one question: "Do I have enough money?" In order to quell the concerns of consumers in this market segment and help them
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Will Federal Regulators Shut Down Your Seminars?
Tips for conducting an ethical seminar for senior prospectsIn case you haven't heard, the SEC, NASD, and some state insurance departments are after seminar promoters who target seniors. Could your whole marketing approach disappear? Regulators
Sales Review
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Becoming the Center of Media Attention
Most business professionals agree that marketing is absolutely essential for pushing a business to the next level. Unfortunately, with countless insurance agents and financial advisors competing for the public's attention, it can be daunting
Perspectives
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Integrity and Value Key to Winning with Sales Seminars
You send out direct mail pieces. You work your database or purchase a list. You believe the people you mail to are a good fit for the products and services you have to offer. And you know that seminars give you sales leverage -- plus, you only
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Group Sales Aren't As Different As You May Think
Say your client is a married man. He has children and a wife. You're selling him life insurance, giving him all the pros and cons of making a purchase. He listens patiently, there's some back and forth, and then he signs.
Selling Guides
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Benefits Marketing Association
For years, Walter Podgurski says, he had seen the need for an advocacy group for voluntary employee benefit plans.
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Tapping the Small-Business "Micro Market"
It's clear that small businesses are truly an economic phenomenon. According to government statistics compiled by the Small Business Administration, companies with 500 or fewer employees are now a major engine in the labor market.
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When to Add Individual Sales to Your Worksite Routine
What are the two biggest reasons why agents prefer selling group plans over individual plans? Group policies have bigger payouts, and educating individuals on different plans eats time for smaller returns.
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The Key to the Business Market is Your Own Business Plan
After 10 years in the business, Mike Ceeps had built up a varied clientele. The business flow was steady, but he was run ragged.
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The Cicero Principle: Needs-Based Approach Opens Doors to Worksite Market
Go in selling products, and you're shut out. But, if you go in with an understanding of your client and their business and you present solutions to their problems, doors just may swing open.
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Making it in the Group Sales Marketplace: An Interview with Walter Podgurski
In 1997, Walt Podgurski formed the first advocacy group for the voluntary benefits market. Today, the Benefits Marketing Association has nearly 3,200 members.
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Put an End to Employee Confusion, Inertia
The increase in employee benefits choices and the resulting portability of benefits have created confusion in the employee benefits marketplace, according to a recent study by Conning Research and Consulting Inc.
Marketing
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Negotiating Ethically is the Best Policy
Negotiating isn't easy, no matter what your style. Negotiating to get what you want takes brains and backbone. Sometimes just asking for something takes nerve. After all, many of us were taught as children not to ask for anything; instead, we
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Resources for the Senior Advisor
I develop the course materials for the CASL (Chartered Advisor for Senior Living) designation at The American College. One important area that we cover is "Understanding the Older Client," which deals with communicating effectively with
Objection of the Month
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Objection of The Month August 2006
How would you respond to a prospect who says... "My company can no longer afford to continue offering these benefits to our employees." "Yes, costs have increased. What do you think you could budget toward benefits for your
From The Agents Desk
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A satirical look at an agent's work life, from the files of Joe Dokes, CLU
Big Brother Financial Securities, Inc. Member NASD/SIPC To: Joe Dokes, CLU Registered Rep #2567 FROM: YOUR BROKER-DEALER COMPLIANCE DEPARTMENT! RE: ADVERTISING SUBMISSION OF DIRECT MAIL PIECE Dear Mr. Dokes: After careful review of
