Agent’s Sales Journal September 01, 2006
Short Takes
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Milliman Survey Foresees Lowest Health Insurance Rate Increase in 7 Years
Preliminary results from Milliman's 2006 Group Health Insurance Survey indicate the lowest health insurance rate increase in seven years. This is the fourth year in a row in which the rate of increase has declined.
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NAIC Addresses Senate Banking Committee on Insurance Regulation Reform
The future success of insurance supervision rests in the continued system of state regulation, National Association of Insurance Commissioners (NAIC), President Alessandro Iuppa told members of the U.S. Senate Committee on Banking, Housing, and
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RIIA Offers Retirement Income Expert Industry Designation
Baby boomers are redefining the way financial advisors do business in the retirement services marketplace. As an ever-growing number of retiring investors shift from their wealth-accumulation years to their wealth-harvesting years, their financial
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Never Use Fear as a Motivator
Sometimes there is a great temptation by advisors to scare clients into taking actions that are in their own best interests. Resist the temptation. Fear works as a motivator only for a small proportion of older clients -- generally the ones you
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U.S. Employers Cut Retiree Benefits
Facing rising medical care costs and an evolving Medicare program, U.S. employers plan to significantly reduce health benefits offered to retirees, according to results from a recent survey by global benefits consultants Watson Wyatt. More than
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Five Steps to Making the Best of Life Insurance Awareness Month
Life Insurance Awareness Month (LIAM) marks the life insurance industry's annual effort to motivate American consumers to review their life insurance needs. Coordinated by the Life and Health Insurance Foundation for Education (LIFE), this is
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Increase Awareness, Sales During September's Life Insurance Awareness Month
Each September, Life Insurance Awareness Month (LIAM) rolls around. Now in its third year, LIAM is an industry-wide campaign coordinated by the Life and Health Insurance Foundation for Education (LIFE). The event's mission is to educate the
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American Association for Long-Term Care Insurance
In recent years, long term care insurance has been quietly carving a niche for itself among its more popular peers in the insurance industry. At the same time, the average life expectancy in America has been steadily increasing, resulting in a
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Selling LTCI to the Younger Set
According to the Agent's Sales Journal's exclusive Long Term Care Insurance Survey, only 6 percent of respondents sell the bulk of their LTCI policies to clients younger than 50. Most policies are sold to those in their 50s and 60s (42
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Selling Long Term Care Insurance to Women
Women today fuel a great part of our economy, balancing their professional careers, family, and personal well-being. Often taking on the caregiver role, they tend to neglect their own potential need for long term care. Therefore, they remain a
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Partnership Policies Offer Unique Benefit
Introduced in 1987, the Long-Term Care Partnership Program aims to reduce the dependency upon state funded Medicaid assistance of individuals looking to finance the costs of long term care. Under the program, consumers who purchase private long
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Deficit Reduction Act Provides LTCI Marketing Opportunities
The Deficit Reduction Act of 2005 (DRA) was signed into law on Feb. 8, 2006. It may mark one of the threshold events that propel long term care insurance sales to the next plateau. Some 7 million Americans own LTCI, according to data from the
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How to Generate Referrals Through Professional Partnerships
Recent Medicaid changes will affect how millions of Americans plan for their futures and remind many professionals, from accountants to financial advisors, that they must recommend long term care insurance to their clients. But while many of these
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Prospecting for Long Term Care Insurance Clients
There are many ways to prospect for clients. The real question is which ones are the most successful and why -- especially for long term care agents. Before we can explore the numerous methods, we need to understand the product. In its
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Reducing the Cost of Long Term Care Insurance
Your clients' health, marital status, age, and willingness to explore options to protect against the potential need for long term care can help them save significant dollars when buying long term care insurance (LTCI). "Many
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Do You (And Your Clients) Know What's Changed in LTCI?
Like all insurance markets, the long term care insurance market continues to evolve. As a result, successful producers should stay on top of trends and changes, possessing a clear understanding of where the market is today and where it is headed.
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Long Term Care Insurance: An Agent's Primer
There's no doubt about it: Americans as a whole are getting older. Along with this rapid aging comes an increased awareness of and need for long term care insurance. However, before you jump on the long term care bandwagon, you should be
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Industry Experts Break Down the Business of Long Term Care Insurance
Marilee Driscoll is a speaker, author, columnist, and consultant. She is the founder and national spokeswoman for Long Term Care Planning Month (www.ltcmonth.com) and a consumer advocate on the topics of rate stabilization and consumer-friendly
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The 2006 LTCI Carrier Report Card
As a companion study to our annual Long Term Care Insurance survey, conducted in conjunction with the American Association for Long-Term Care Insurance (AALTCI), we polled more than 700 agents nationwide on which carriers best meet their needs in a
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2006 Long Term Care Insurance Market Study
Conducted by the Agent's Sales Journal and the American Association for Long-Term Care Insurance For this year's Long Term Care Insurance Market Study, the Agent's Sales Journal partnered with the American Association for
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Get Ready For LTC Planning Month
Insurance agents now have an opportunity to raise their profile and their credibility by participating in Long Term Care Planning Month and bringing this national event to their town. Originally founded in 2001 as National Long Term Care
Front Page News
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Taxation Considerations for Annuities
While annuities are a viable solution to many clients' needs as they near retirement, it is crucial to advise each individual or entity of the applicable tax considerations. Nonnatural-person ownership Not all annuities are owned by
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Underwriting Secrets from an Underwriter's Perspective
Illustration to application to issued to commission: The underwriting process can go that smoothly for a formal application, as well as an informal inquiry form. But whether you are applying for a formal issue or requesting an informal offer on a
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No More Cold Calls: How to Generate More Referrals
A sales call is either cold or hot, and nobody wants to make a cold call. Fortunately, there is a way to make nothing but "hot calls," with a fantastic rate of return. The secret is referrals. In the tough insurance climate we face,
From The Agents Desk
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A satirical look at an agent's work life, from the files of Joe Dokes, CLU
Joe Dokes, CLU Licensed Insurance Agent To: Doris Johnson, ChFC Association of Grave Expectations, Speaker Committee Chair Doris: Thank you again for the invitation to be this month's luncheon meeting speaker. Quite frankly, the
Sales Review
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101 Ways to Excel in Your Business
Newcomers to the world of insurance and financial services face innumerable challenges in this frenetic, cutthroat industry. In this daunting profession, even veteran agents sometimes hit a wall and feel as if they can't take one more step
Perspectives
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Knowledge is Power When Facing the Future
Who wants to think about growing old? What about the idea of not being able to take care of yourself, of needing help in and out of bed, the shower, the bathroom? The potential indignities and loss of independence are too much to swallow, so we push
Selling Guides
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Breaking Into Worksite LTCI: A Step-by-Step Guide
As "kitchen table" long term care insurance (LTCI) sales have declined over the last several years, the number of employer-sponsored programs has grown exponentially.
Objection of the Month
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Objection Of The Month September 2006
How would you respond to a prospect who says... I don't need long term care insurance; my family will take care of me. "That is a good idea. Since your family will take care of you, and that equates to spending money on your
