Agent’s Sales Journal July 01, 2008
Front Page Stories
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Are Variable Annuities Becoming Web Friendly?
In early 2008, Fidelity Investments announced that it was expanding its services to enable clients to open variable annuities online. For customers, the offering cuts out the proverbial middleman, eliminating the need to buy an annuity through an
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Will the Fed Affect Your Business?
For more than 135 years, individual states have regulated the insurance industry with-in their respective borders. States have their own insurance commissioners, regulatory bodies, and rules to enforce. In turn, insurance companies have to follow
Short Takes
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Should I Grow My Business? 6 Questions to Ask Before Expanding
Advisors who yearn to grow their business often face myriad decisions that range from identifying the next segment of prospects to finding and keeping top staff. Yet the first question that advisors should ask themselves as their client roster grows
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Getting More Sales Mileage with Hybrid Financing
Everyone is talking about hybrid premium financing -- but what is it exactly, how does it benefit clients, and how do agents sell it? What does hybrid even mean when used in an insurance context? The following is a short explanation of what hybrid
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Premium Financing Done Right
Premium financing is often introduced to affluent clients as the ultimate planning strategy -- the hero coming to the rescue -- for low or no cash flow and big death benefits. If only it were that simple. Let's first look at the question that
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When Whole Life Can Beat Term Life
For many clients, the decision to buy life insurance usually comes down to a comparison of term and whole life insurance, with cost very often being the make-or-break consideration. But comparing term life insurance (which is similar to renting a
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Selling the Next Generation of Protection-Based Accumulation Products - Equity Index Universal Life
As the protection and investment worlds began to move closer in the 1970s and '80s and the technology universe began to expand, the life insurance industry recognized the opportunity to give consumers more flexibility, control, and choice.
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Updating Your Clients' Coverage with 1035 Exchanges
The insurance industry has seen many social and demographic changes that, in turn, have resulted in additional changes to the design and cost of life insurance products. Many longtime policyholders have recognized these developments and considered
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How to Conduct Proper Field Underwriting for Faster Issuance, Happier Clients
You've spent weeks with a client, pitching the perfect life insurance policy for their needs and finally obtaining the sale. You think you've got all the information in order, and your client fully expects a prompt issue. So you submit the
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How to Get Clients to Stop Procrastinating and Start Buying
Every insurance agent I've ever coached or consulted with has complained about one major life insurance sales objection that they are the most frustrated with: procrastination. To deal with client procrastination, we must first start by
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8 Ways to Make Life Insurance Sales in Tougher Times
No one wants to mention the "R" word -- recession -- even though it's on everyone's mind and news outlets all over the world talk about it daily. Most of us, particularly if we are in sales, like to act as if ignoring economic pain will help us
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Life Agents Embrace Change, Prepare for Opportunity
Agent Media, LIFE study shows recent trends within marketplace
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New Rule Would Limit Insurers' Contact with Elderly, Disabled
Under a recently proposed federal rule, agents attempting to sell private health insurance plans to elderly and disabled consumers would be barred from cold-calling, making door-to-door solicitations, and pitching their product lines outside of
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FINRA: Agents Must Use Caution on Ghostwritten Materials
Broker-dealers were reminded recently to closely supervise all ghostwritten materials their agents distribute to clients in order to rein in any misleading information. Such materials as defined by FINRA include: Hardcover books or
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New Bill Protects Seniors from Financial Fraud
If a recently introduced U.S. Senate bill successfully makes its way to law, investment advisors may be subject to a new layer of scrutiny when dealing with senior investors. The Senior Investor Protection Act of 2008 (SIPA), introduced by Sen.
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Life Carrier Report Card
In general, how well do these insurers meet your overall needs in the life insurance market?
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LIFE Foundation Highlights Top 3 Life Insurance Trends
Life insurance premiums continue to decrease. About three-fourths of Americans think life insurance is too expensive to fit into their family budget, but the reality is that's not the case, according to David Woods, president and CEO of the Life and
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Making the Most of Life Insurance Awareness Month
Every September marks Life Insurance Awareness Month (LIAM), sponsored by the LIFE Foundation. This should present a great opportunity for agents to spread the word about such policies, especially with the tools LIFE provides for producers on their
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H.R. 6331: Prescription for Success or a Medicare Mess?
Some are pleased: The Medicare Improvements for Patients and Providers Act of 2008, enacted July 15, effectively quashed a 10.6 percent reduction in physicians' Medicare reimbursement rates, which critics worried would limit patients'
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Claims Denials and the Court: What the MetLife Decision Means to You
The United States Supreme Court recently issued a decision dictating how closely courts will scrutinize certain decisions by insurers and their administrators denying benefits. While the case itself involved a fairly narrow set of circumstances, the
Sales Review
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Everything You Never Knew about Marketing
As a financial professional, you have probably accepted the fact that marketing is a vital part of your business. After all, it allows you to reach out to prospective clients and spread the word about your product or service. But, as we all
Sales From The Darkside
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Dan's Sales VP is a Clueless Accountant
I had just taken a new job with a new company selling insurance to major corporations. This start-up firm had 45 employees, and not one person had experience selling to human resources people. As a successful headhunter, I had loads of great
Perspectives
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Life Insurance Doesn't Need to be Tough
With a tightening economy, consumers are cutting corners on everything from shopping trips to new home purchases -- and insurance, sometimes considered a luxury, is no exception. When asked for the top challenges in specific markets, agents
Marketing
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Pitching to the Media: 3 Ways to Avoid Killing Your Story before You Even Open Your Mouth
Producers, assignment editors, and reporters are inundated with hundreds of faxes, emails, and press kits every day from individuals and companies just like you that are vying for free television face time. Your primary job is to create credibility
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6 Things You May Not Have Known About Boomers
Young families are ideal for your book of business. They need coverage for their two cars, their first home, and their lives. As more children come along, their houses get bigger, their cars get nicer, and as their earning power increases, the need
Prospecting Corner
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To Niche or Not to Niche?
It used to be that you knew you were on your game if you were targeting the Holy Grail of specific markets: the ultra-affluent, baby boomers, and seniors. Then everyone started targeting these markets, and they suddenly weren't special anymore.
Objection of the Month
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Objection Of The Month - July 2008
How would you respond to a prospect who says... "My health is so poor that I'm concerned I won't qualify for a life insurance policy." "I understand your concerns. In fact, what I would recommend is that we submit an application to see
