Consulting, training, insurance sales.

September 7th, 2010 by funds

You may need some insurance sales training for your sales staff. Most major insurance companies already have them. If you are a small independent agent however with a small staff or a bank that is involved in adding insurance services, you may need to look into getting some insurance sales training especially if this applies to you.

How will you know what Insurance Sales Training you or your Company will need?

What kind of insurance will you be selling? Life Insurance is not as easy to sell as property insurance for instance as people are required to carry property insurance if they have a mortgage on their home. Property and casualty insurance is both often required to have by law so these are an easy sell. Health insurance goes on the back burner for many people; some simply cannot afford it while others do not want to pay the high price for it. Life insurance unless it is very reasonably priced is not easy to sell as most people who buy it will never see the money unless it is the type that has a cash value you can collect on. Most often it is not until a person gets older that they even consider buying life insurance. Unless your business is only offering property and casualty insurance then you will probably need insurance sales training.

Observe a member of your sales team in the act of trying to sell an insurance policy or record yourself doing it. It is best to do it when business is conducted in the office, but if this is not possible you may want to go with you new salesman and see how he does. Then consider these questions;

1. Was the customer’s financial resources talked about? This should be one of the first things that is done.

2. If the client cannot afford or needs a different policy, is he told this promptly? If your company cannot help him with a policy, is he informed of this?

3. When is the insurance plan and what it will cost talked about with the customer? This should happen after the customer explains what he needs and after the salesman has determined what he thinks he needs.

4. Have all the little nasty details been explained to the client?

5. How many times has the first offer been redone successfully? It should be done as much as needed to make a sale that will mean profits for you. If need be the customer can be told that your company does not have an insurance plan to suit them.

Where to find an Insurance Sales Training Provider

So you already know what you need to train your sales team to make better sales. Try to look for the following things:

Published PR reviews

Referrals and references

Case studies and testimonials with proper verification

Guarantees of ROI

After you find some through these qualifications and meet with them – see what the rest of the guys and gals think of them and let them help you choose the keepers.

Watch the applicant and see that he is comfortable and willing to spend time with the whole team.

If you need insurance sales training, the best thing to do is find the one that is right for you and get it. It will make a big difference in the future of your company.

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Buy life insurance and why different term investment.

September 4th, 2010 by funds

If you were to die tomorrow, who would suffer financially? This is the planning question you use to decide whether or not you need life insurance.

If the answer is no one, it’s simple. You don’t need life insurance. If the answer is someone – your spouse, children, parents or business partners – you do. When the answer changes from someone to no one, your need for life insurance just went away. So should the policy.

So, let’s suppose, at this point in your life, the answer is still someone. You need life insurance. But what kind of life insurance? Agents are showing you all kinds of exotic, enticing plans that have all kinds of bells and whistles. Should you buy them?

The title of this piece clearly tells you where we, at Snider Advisors, fall on this issue. To be clear, we are comparing permanent insurance, also known as a cash value policy, against term life insurance, for the purpose of providing a death benefit.

I’m not saying that it is never acceptable to purchase a cash value policy. Permanent insurance does make sense for a very small minority of people. A family with a special needs child will need to provide for that child’s care for the rest of his or her life; special needs trusts are typically set up with cash value life insurance policies to accomplish this. Wealthy individuals also utilize cash value life insurance policies to pay their estate taxes, and business owners often need permanent policies for their succession planning. These people are using the product to accomplish a specific goal, which is likely different than yours.

If you need life insurance, your goal is probably much simpler: to leave a check for your dependents in the event you should die. The death benefit that your family needs can be accomplished with term insurance for a pretty darn good value.

For example, a 35-year-old healthy male, who does not use tobacco, will pay about twenty dollars a month, for $1,000,000 of term coverage, for 10 years. A permanent policy premium for the same amount of coverage would be about twenty times that much!

Term insurance is pure risk management. It pays for the cost of insurance during the specified period of coverage. Wasn’t that your goal?

Permanent, or cash-value, insurance policies are meant to be a long-term vehicle that combines insurance with an investment account. A portion of your premium goes towards your insurance coverage, while the rest is directed to a separate savings account.

There are three types of permanent life insurance: whole life, universal life, and variable life. The difference between each of these policies is essentially how the separate savings account is invested.

Whole life is invested very conservatively in cash, money markets, and bonds. Universal life tracks an index, such as the S&P 500, and variable life is invested directly in the stock market. With variable life, the policy owner can self-direct his or her investment choices.

All the “benefits” of permanent, cash value life insurance need to be carefully scrutinized:

In the first three years or so of a permanent policy, the cash value is eaten up by commissions and expenses. Be aware that an insurance agent will receive 50-100% of your first year’s premium.

How about return? James Hunt, actuary for the Consumer Federation of America, who has analyzed thousands of these policies, notes that permanent policies hardly ever yield a reasonable return unless held for twenty years or more. And what exactly is “reasonable?” Be sure you are analyzing the internal rate of return of the policy, which is the return net of fees and expenses.

Most Americans cannot get by with a 4% withdrawal rate. In fact, the vast majority will need a low double-digit yield from their portfolio to sustain thirty or more years of retirement. This would be nearly impossible to accomplish with a permanent life insurance product.

The words “professional management” should scream high fees to the consumer. What are these fees? I can bet it’d be a surprise to the agent, if he or she could find out. These almost never get discussed because they are hidden and blurred in the product.

On top of these fees and the commissions paid to the agent, you will pay surrender charges to get out of the policy. These charges often apply for 10 years or more.

Add inflation to the picture, and it’s easy to see that the investment portion of these policies almost certainly do not match up well to your financial objectives. Moreover, the investment choices in these policies are usually lousy. In our opinion, you are much better off self-directing in an IRA.

Cash value life insurance does come with favorable tax treatment, often called a “turbo-charged Roth IRA” by agents. In theory, it is. You pay the premium with after-tax dollars and the earnings grow tax-deferred; however, the cash value is not always “tax-free” as many agents claim.

If you surrender or cash-in the policy, and the total amount of cash value returned to you is less than the total amount of premiums paid, it is considered a return of principal and is not taxable. If the cash value returned to you is greater than the amount of premiums paid, the amount in excess of premiums paid is considered a “gain” and is taxable as income. If the policy you surrender is considered a Modified Endowment Contract (the company can inform you if it is), cashing-in or borrowing against the cash value may be fully taxable. You should consult a tax advisor if this is the case.

You can take out loans from your cash value tax-free, but agents fail to mention that by doing this, you are greatly increasing the chances that your policy will lapse long before the nice illustration shows, meaning that the coverage you think you have to a certain age will expire unless you pay a higher premium (often prohibitively so). If you do not pay the loan back, it is subtracted from your death benefit.

Don’t forget one other potential tax trap. If you’ve borrowed from the policy and then let it lapse, the investment earnings you’ve withdrawn become taxable. So if you aim to use the policy for income in retirement, you could end up facing a substantial tax bill late in life when the last thing you need is to be shelling out the big bucks to the IRS.

Now, let’s talk about risk. Just because the premiums are invested in short-term money instruments does not mean there is no market risk. There is less market risk than, let’s say, a mutual fund. There is, however, substantial interest rate risk.

If interest rates are high, the cash value of the policy will grow accordingly. However, a low interest rate environment will diminish the cash value of your policy as company fees and insurance coverage costs are applied. If this happens for any prolonged period of time, you run the risk of losing the bulk of your cash value, if not all of it.

Another hidden aspect of cash value life insurance is that if you, the insured, die, the only death benefit your beneficiaries will receive is the face value of the policy.

But what about all that cash value? In most scenarios, the insurance company keeps the cash value to help pay out the death benefit, which wipes out all that hard-earned savings. Some policies specify that beneficiaries will get both the face value and cash value, but it comes with a price.

Now for a word that insurance agents love: guarantees. Most insurance agents only highlight the non-guaranteed illustration showing a return of 8.5% or so. They spend very little time showing the guaranteed illustration because it doesn’t look so hot and would likely kill the sale.

Put bluntly, insurance agents are salespeople. While they are noble in their efforts to protect families in the event of premature death, most permanent life insurance recommendations are more beneficial for the agent, in the form of generous commissions, than they are for you.

In our opinion, cash value life insurance is simply not the most efficient and effective way for you to manage the financial risk, to your family, of your premature death. The truth is the policies almost never work the way they are explained in the sales pitch and you’re much better off following the old saw, “Buy term and invest the difference.”

No statement in this article should be construed as a recommendation to buy Or sell a security or investment advice unless expressly mentioned above. The investment risk, including loss of principal.

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Insurance 101.

September 3rd, 2010 by funds

All types of Life Insurance fall into one of the four groups explained below, which type you use depends on the type of risk you wish to protect and the funds you have available.

Term Assurance

Cash lump sum paid out in the event of death

Straight term assurance is still a very cost-effective way of providing financial protection for the family or business. A lump sum is normally provided when a claim is made which is paid into the estate of the policyholder.

In order to avoid complications with delays in probate or inheritance tax, an appropriate trust can be used so that any payment is made direct to the beneficiaries.

It is also possible to have the cover indexed according to inflation, so that the level of cover remains the same in real terms. Since there is no element of saving, the plans do not acquire a surrender value. If you wish to include this option, you could opt for convertible term assurance.

Family Income Benefit

A regular income paid following death during the term of the plan

This type of plan provides for a regular income to be paid out in the event of the death of the life assured during the term of the policy. With each month that passes, the liability which the insurance companies is taking on decreases by a set amount. This enables the costs to be kept down to a minimum and is often the least expensive plan available.

The benefits can be written in trust to avoid legal delays and any possible

liability to inheritance tax.

Mortgage Protection.

This type of plan is also a term policy which covers the declining balance of a repayment mortgage. This enables the cost to be kept to a minimum but make sure that the interest rate figure is high enough for any possible increases in the mortgage rate.

Whole of Life Cover

Provides cover for the rest of your life

The main disadvantage of term cover is that at the end of the term, cover ceases and any new policy has to be underwritten according to the age and health of the policyholder at that time. When a whole of life policy is taken out, the policyholder has guaranteed insurability for the rest of their lives, regardless of any change in their health.

This means that initial premiums are likely to be higher than term assurance cover, but the plan has far more flexibility. It therefore depends on your personal circumstances as to which plan is likely to best suit your requirements.

Critical Illness Cover

Cash lump sum for those who die or have a critical illness

In recent years, the need for protection for those who actually survive serious illness or accident has become more apparent. It has been described as ‘life cover for the living’.

Most plans cover the common conditions such as heart attack, stroke and most forms of cancer, but there is variation on more rare conditions. In addition to specific illnesses, it is quite common to have permanent disability cover. If you become permanently disabled and unable to return to work, the plan pays out. There is however, a wide variation in the definition of ‘return to work. Some plans would only cover you if you were totally unable to work. Others have an own occupation? clause so that if you were unable to return to your normal occupation, a claim could be made. This is an extremely important Consider when choosing your insurance.

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17 step in increasing customer loyalty, referrals and attract more customers in 2009.

September 2nd, 2010 by funds

In Other Words…Essential Things You Must Do If You Plan To Succeed.

Just remember, implementing everything takes time but here is a list of solid action strategies that can immediately better your business practices. Read the ideas, pass them by your staff and clients or more importantly TEST them out! How many are you currently doing? Here are 17 ideas you can implement immediately to generate more insurance leads.

1. Have a Welcome Kit for every new client.

2. Send out a monthly client newsletter.

3. Have a Name Capture sheet by the phone, so that ‘everyone’ and ‘anyone’ who calls and inquiries about anything are put on your in-house mailing list.

4. Make a list of all your friends, family, neighbors, and associates and send them lead generation postcards, and your monthly newsletter.

5. Have pictures of you with your happy smiling clients in your office.

6. Have a list of clients of the month in the office, plus mention them in the monthly newsletter. How do you choose the “Client of the month”? Anyone who refers!

7. Reward anyone who refers. Gift Certificates to a favorite Restaurant, Bath and Body, Movies, etc…

8. Do a special campaign for every holiday with a special offer. For example, offer special financial reports. Many of our reports we have in our “Ultimate Insurance System” can be motivated for Father’s Day, Mother’s Day campaigns, and Christmas. Take the concept and use it to fit your business.

9. Hold special events for prospects. Offer a FREE movie during the day and rent the whole theater and offer free Popcorn and drinks before the movie starts. You just stand up before the movie starts and just welcome everyone to the movie and at the end of the movie pass out special report package and offer a free one hour consultation. In the spring time hold a meeting at a local nursery with an expert speaker on gardening. I have one member who does both of these events on a yearly bases and he writes millions in annuities using this concept.

10. Mail out 1000 postcards to a list of IRA Holders, CD Holders or affluent widows. If you mail 1000 postcards and just get one new client, you’ll be in the profit! You simply can’t fail. Do that 4 times a month and you get 4 new clients with just 1 strategy? Run the numbers…If it costs about $450 to mail out a 1000 postcards and your average commission on an annuity is $4500. That’s a huge profit upon which you can build!

11. Run a lead generation ad in a local newspaper. Remember to test different headlines. Some WILL pull well, some WON’T. A member in Utah use one of our postcards and turned it into an ad and for a cost of $300 ran it three times in a week and received over 60 leads. Those numbers are great.

12. Test Everything. You’ll find that some things work incredibly well, while others will bomb. Do not shy away from trial and error.

13. Have a direct response website. Have your website address on all your postcards, direct mail letters, fliers, reports, newsletters and sales cards. Also, when they go on your website you can capture their email and they’ll see all your other offers, reports, and newsletters. According to AXA Equitable Retirement Scope Survey: 83 percent of working Americans and 75 percent of retirees have Internet access at home. Retirees spend nine hours per week on the Internet, a full hour more than working Americans. More than half of retirees read the news and buy travel tickets on the Web; 37 percent email their grandchildren. If you need an auto responding website and client newsletter there is a free trial offer at the website listed below.

14. Send a Thank you card to everyone after their appointment.

15. Give a care call to a client.

16. Always give more than expected. Sit down for 5 minutes and ask yourself, “What else can I give my clients to make their experience a “Wow” experience?”

17. Hire a telemarketing person to call two hours a day from her house. Have her call behind your postcard mailings. We have a phone presentation that will net two appointments for every six contacts.

If you think you are going to double your income in 2009 by doing exactly what you did in 2008…you are crazy. Begin the New Year right, by increasing your referrals, improving your retention and attracting clients through simply implementing the 17 marketing tips Are listed above.

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Insurance Wawanesa.

August 31st, 2010 by funds

It is sometimes said by poets that life is but a span, and if something bad happened to you, yours family would have to go through a heavy time; the welfare of your family would be deteriorated. Life insurance companies offer you various insurance programs, which will provide financial security of your family in case of death, disability in your future. They help you keep your head above water, as well as support your most optimal plans.

Most life insurance companies are reputable because of the strict regulations in Canada and throughout the world. The best way to get a good selection of life insurance most fitted to your needs in this day is to use the Internet. It could be quickly found out that Wawanesa Life is among best rating life insurance companies.

Wawanesa Life is a subsidiary company of the Wawanesa Mutual Insurance Co. Wawanesa has a rich history dating back to 1896, when it was founded in the Village of Wawanesa, Manitoba. Today executive offices are located in Winnipeg, Manitoba, Canada. Wawanesa Mutual operates in all areas of Canada as well as in the states of California and Oregon in U.S.A.

Wawanesa was awarded an A+ (Superior) Rating for its financial strength from A.M. Best Co. the world’s oldest and most authoritative insurance rating and information source. Some of Wawanesa traits are the out standing claims service and underwriting service, consistent range of quality products and among them:

Individual Products and Services

It should be noted that a vast array of life insurance policy types available consists of one of two basic forms: Permanent insurance and Term insurance.

As the names imply, permanent insurance is permanent for life and term insurance is temporary. Examples of permanent needs are funeral expenses, survivors’ income, taxes at death on capital gains and charitable bequests. Examples of temporary needs are mortgages, education and business loans.

Permanent Products

Types of permanent insurance plan:

Universal Life is a permanent insurance plan providing for separation of the insurance and savings components of the policy. All premiums are generally deposited to interest bearing investment accounts. From these accounts it is deducted Cost of Insurance (COI) charges and administration fees. Policyholders could direct premiums to different account choices, such as a Daily Interest Account, a Canadian Equity Index-Linked Account, a U.S. Equity Index-Linked Account, an International Equity Index Account and a Canadian Bond Index Account. It may be selected two COI charge methods by the policyholder. The charge may be level for policy’s life, or may be level (at a lower amount) up to age 65 with a following increase to a new higher amount for policy’s remainder.

The tax-free death benefit will consist of the death benefit provided by the insurance coverage selected plus the value of the different investment accounts. The Account Value, less a surrender charge in the early years, will be available to the policyholder upon surrender before the death of the life insured;

Term to Age 100 – this plan provides a level amount of permanent life insurance, to ago 100 of the life insured, at which time the face amount of insurance is paid.

Premiums are level and payable to age 100. This plan is also available on a joint-last to die basis;

Fifteen Pay Term to Age 100 plan provides a level amount of permanent life insurance to age 100 of the life insured, at which time the face amount of insurance is paid. All premiums are guaranteed, level and payable for 15 years only. Commencing in the 10 th year.

A guaranteed cash value will develop to be available to the policyholder upon surrender before the death of the life insured;

Twenty Pay Term to Age 100 plan provides a level amount of permanent life insurance to age 100 of the life insured, at which time the face amount of insurance is paid. All premiums are level and payable for 20 years only.

Commencing in the 10 th year a guaranteed cash value will develop to be available to the policyholder upon surrender before the death of the life insured;

Final Expense Plan is designed for individuals age 45 to 75. This permanent plan is a guaranteed issue with just 5 qualifying questions.

Premiums are level and payable for 20 years only. The death benefit in the first 2 years will be the return of paid premium plus 10 % interest to the death date. When death occurs it is paid the full protection. The death benefit amount is paid to the policyowner if living after the later of 20 years, or age 85.

Types of Temporary Products:

Life Style Term – these plans consist of 10 years or 20 years Renewable and Convertible Term Insurance. The insured sum is level and premiums are guaranteed.

Life Style Term can be renewed until age 80 of the life insured, at which time the insurance terminates. These plans are also available on a joint – first to die basis;

Preferred Underwriting of Life Style Term – these plans allow applicant to be grouped into a greater variety of lifestyle categories resulting in a more appropriate premium being charged. In the past, healthier applicants subsidized the insurance costs of less healthy ones. Life Style Term rewards better risks with lower premiums. Three nonsmoker classes and two smoker classes are included in Preferred Underwriting classes available for Life Style Term;

Lifestyle Adjustment Plan (critical illness protection) – this plan is designed to provide funds helping you care financially for yourself and your family maintaining the same quality of life after surviving a critical illness.

The plan provides a tax-free lump sum living benefit to the plan owner on the occurrence of the first of the covered illnesses of the insured, provided the insured survives the waiting period following the critical illness onset.

The waiting period is 30 days from diagnosis, except for Loss of Speech (6 months) and Paralysis (90 days). No living benefit is payable if cancer is diagnosed within 90 days of issue.

Three types of Life style Adjustment plans are available: 10 year Renewable to Age 75, Level to Age 75 and Level to age with Return of Premium.Wawanesa Life has a plan to meet any your insurance and financial needs which can be tailored fitting your needs.

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Health promotion in Missouri.

August 31st, 2010 by funds

Purchasing a Medicare supplement in Missouri can be somewhat overwhelming if you are not familiar with the process. You must be at least 65 years old or approved for Medicare disability. You must also be enrolled in Medicare Parts A and B with the federal government.

There are ten modernized plans available to choose from (A- N) as well as high deductible Plan F. It is important to request an outline of coverage from your agent so that you know what each plan covers. All plans are not offered by all insurance companies. Traditional Plan F is most comprehensive and usually most popular with those who are Medicare eligible.

All other plans will cover some of the gaps in Medicare and therefore you will have more potential out of pocket expenses. Should you choose a less comprehensive plan, you may end up with larger medical bills.

Missouri Medigap Anniversary Rule

What makes Missouri unique when compared to other states is the yearly anniversary rule. Each year, you can switch Medicare supplements in Missouri without medical underwriting. You can switch to like or lesser coverage with a different company in order to lower your premiums.

If for instance you have Plan G coverage, you could switch to another Plan G or any plan with less benefits without underwriting. However, because Plan F provides greater benefits than G, you would need to be underwritten in order to switch to a F Plan.

Your yearly anniversary is unique and occurs within a month of your effective date. It does not necessarily occur during the month of your birthday, but rather when you were enrolled into the Medigap coverage. The window of time to take advantage of this rule encompasses the the 30 days on either side of your effective date.

In order to enroll in a new Medicare supplement during this time, you only need to provide the new insurance company with a copy of the effective date of your old policy.

Medicare Supplements Under Age 65 – Disability Coverage

The state of Missouri also allows for individuals who are on Medicare disability to enroll into a supplemental plan. Just like those who are Turing 65, you must enroll during your open enrollment period to be issued a policy on a guaranteed basis. Open enrollment encompasses the three months before your approval, the month of your approval, and the three months after.

It is important for those who are on disability to take advantage of this window of time. Otherwise, you can be denied coverage later on if you need to be medically underwritten. Those on disability can also take advantage of the yearly anniversary rule.

Purchasing a Supplemental Policy

If you are in need of supplemental insurance, it is wise to shop through an agent. There is no mark up for their services and you can compare prices from several companies at once. By learning the plan designs and Buy the best prices you should not be a problem right Medicare Supplement.

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Annuity sales process will form the third six this year.

August 30th, 2010 by funds

The major media outlets want you to believe that the economy is spinning into disaster and the only people making money are evil hedge fund managers who get bail out money from the government. If one were to listen to the advice given by mainstream media, getting out of bed would be a major accomplishment.

The reality of the situation is there are a lot of people that are making money in financial services. Commodities brokers are making a mint selling precious metals. Right now there is not enough gold in the market to service the demand. Due to the recession investors are looking for safe investments. Financial advisers that specialize in fixed annuities are making six and sometimes even seven figure incomes. Think about what you could do with a seven figure income in a market where the price of real state is dropping, and everyone is in need of cash. Don’t miss out on this golden opportunity.

Let’s go over a fact that was not covered by any of the mainstream media outlets. According to Beacon Research, sales of fixed annuities climbed to $107 billion last year, up 60% from 2007. Ask yourself how big was your piece of the 177 billion dollar pie?

I noticed the top producers in the fixed annuity markets all have similar marketing techniques, and no it’s not seminar selling. The rest of this article is going to go over systems that will put you in the position of making six figures in the annuities market.

Become an author. All of the top producers that were nice enough to respond to my e-mails told me that they wrote for their local news paper. Most cities have small newspapers that serve a niche. For example a news paper that has a distribution that only goes to three zip codes. A lot of these news papers will cater to ethnic groups as well. I found a news paper that focused on the Jewish community and another that catered to the African American community. If you fall into a certain ethnic group these news papers can be a gold mine. I am not suggesting that you go out and try to get published in the New York Times. I am recommending that it is in your best interest to write for news papers that serve zip codes that surround your office. I found news papers in my area that service a wide variety of demographics. This is an inexpensive and highly effective way of getting your phone to ring with qualified prospects. In order to write for a local news paper simply write a short bio on yourself and provide an example of your work to be submitted to the editor. Most editors of smaller news papers are happy to have someone provide free content. Your goal is to be the expert in safe investments not an expert in life insurance .This accomplishes several goals. First it gives you credibility, in the eyes of the prospect you are no longer the insurance peddler you are a published author. This method is so effective you will be shocked at the results.

Use a post card drip campaign. Another marketing technique that the top producers are using is a post card drip campaign. This is not the post card campaign that the home office sends out. Three things need to be in place in order for a post card campaign to work properly. First use a reputable list broker. Do not use a list broker that sends mail out to everyone in a given zip code. Eighteen year old kids have no interest in annuities. A good list broker can create a list of people who are over the age of forty and have an average income over sixty thousand. You can also get a list of people who subscribe to financial magazines. I have never had a positive experience marketing to people who subscribe to financial magazines due to the fact that they tend to buy into the hype that Money magazine dishes out every month. That said some advisers do get positive results in this market. My suggestion is to target people who are over the age of fifty and have an income of at least sixty thousand dollars a year. The second variable in this equation is making sure your ad copy is emotional. Hand written envelopes work better than a letter that looks like it was spit out of a machine. The ad copy has to grab the reader’s attention. Put yourself in the position of the reader. A letter that has a headline that reads “Is your broker going to make you homeless?” will get read. A letter that has a headline about how knowledgeable you are is going straight to the trash. Your prospects have no idea what C.F.L means, nor do they care.

Use direct marketing to a niche market. I have certain markets that I am a big fan of. My favorite markets are as follows home owner associations, trade unions, and teachers. The best way to position yourself in front of these markets is to write for a trade journal that serves one of these markets. A lot of information is available on the internet on direct marketing. The only time that you get paid for is the time spent in front of prospects. So a direct marketing campaign has to be employed into your game plan.

The average commission for a fixed annuity is eight percent. Yes I know people out there are offering commissions a lot higher than eight percent. However, for the sake of this article I am going to base my figures on an eight percent commission.

In order to make one hundred thousand dollars in commissions on an eight percent contract you are going to have to sell $1,250,000.00 in annuity premiums. According to the agents I spoke with the average amount invested in annuities is $60,000. There are advisers that get large lump sum annuities, but let’s be realistic. So to hit your goal of an income of a hundred thousand dollars are more you are going to need to sell twenty annuities with a premium of sixty grand are more. The way you do this is by setting up ten appointments a day, out of ten appointments five appointments will show up. All appointments are over the phone or in your office.Six and Seven figure producers do not spend their days petting dogs and driving around in circles. On a twenty day month this works out to one hundred appointments.

If you’re able to close just ten percent of these sales with the target premiums of sixty thousand dollar you will hit your goal in two months!

By positioning yourself as an expert in safe investments these numbers can become a reality. Remember to market yourself as an expert in safe investments not a life insurance agent. Once again, I want this to sink in You are a safe investment expert, you are not a life insurance sales person. This article was a break down on how some of the biggest producers on the planet hit their numbers. Now use these methods and make your dreams come true.

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Term life insurance resources.

August 28th, 2010 by funds

Term life insurance is a straight forward product with one direct and many indirect benefits. Although most people understand the basic idea of life insurance they stand frozen in indecision, and avoid purchasing a policy out of lack of knowldege.

People need guidance, and especially when it comes to purchasing term life insurance they can use a little more help.

Luckily the Internet has made available ample information sources for people considering life insurance. Below are the some great information sources for people looking for term life insurance.

Term Life Insurance Source #1

Life Line is an industry sponsored site that offers educational information on life insurance. The site offers detailed information compiled by insurance professionals paid by the insurance industry.

Term Life Insurance Source #2

Lifeinsurance.net is a privately run insurance site. It offers a detailed explanation on term life insurance and other life insurance options. A handy calculator can help you calculate your insurance needs.

Term Life Insurance Source #3

Lifeinsure.com offers live links to help visitors work through the insurance process.

A user can read articles on insurance and click on key words to read more on a subject. For example an article on term life insurance might have the word premium highlighted as a live link. A user can click on the word and be taken to a page providing a detailed explanation on what a premium is.

Term Life Insurance Source #4

Your local library. Libraries can be a great source for life insurance information. They have books that have been approved by librarians for their content. While many of the books might have basic explanations, they will also eliminate many get rich quick style books.

Term Life Insurance Source #5

Financial planner. A certified financial planner is a great source of information and professional guidance. He can make recommendations based on your personal situation. Opt for a financial planner who is compensated by you and not the insurance company. If he receives a commission from the insurance company he might be swayed towards recommending an insurance product based on his potential commission.

Term Life Insurance Source #6

Search engines. Search online and you will see thousands of sites that offer free information, along with free term life insurance quotes. Spend the time analyzing and comparing term life policies and obtaining quotes, you will be surprised at the differences in terms and prices.

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No Long Term Care Life Insurance – Policies that will save you money.

August 27th, 2010 by funds

No load term life insurance is type of insurance coverage that you may have heard of discussed before, but never really figured out exactly what it entails. This particular type of insurance is just a non-commissioned based form of life insurance coverage.

This actually changes up the options on how you can obtain a policy as well. Instead of having to go through a specified insurance agent, you can actually receive coverage in different ways. You can still purchase the insurance through an agent, but you can also purchase the coverage over the phone or even in an application that you send through the mail.

However, do not think that simply because you’re not seeing an agent or no physical agent is present on the other end that a policy is a no load policy. Regardless if you are purchasing no load term life insurance or any type of insurance for that matter, ensure the “advisor” that you are speaking with is a licensed insurance agent.

The only difference is that the company is not the one that is held liable for paying the advisor that showcased the policy for you. Instead, normally on your first month’s premium there is an amount that states this will be the fee for the advisors costs. However, after the advisor’s costs have been paid many people notice that this particular type of insurance actually has extremely low premiums.

One disadvantage many people would say about the no load term life insurance policies is that unlike a whole life insurance policy where your money builds cash value, you have no cash value with this policy. But, on the upside your premiums are going to be less expensive then with another type of life insurance policy.

With the fees for the policy being less, you can actually set aside your own stash of cash. Or, perhaps start a bank account that goes to your family for funeral or other expenses after you pass away. In fact, this is a very attractive feature that is making a lot of people consider obtaining one of these policies.

Be aware, that not all states offer no load policies, so you will need to ask several different insurance agents or research the laws of your state to see if these policies are allowed where you reside. You will also still have to answer different medical questions and you may be asked to submit a physical in order to evaluate your current medical conditions.

One of the major advantages of the policy is the fact that you have lower premiums. However, many have retorted that one downside was the fact that when it comes to asking questions or filing claims you have to do this on your own, because once the policy is in effect, some advisors do not keep in touch as much as they should.

If an advisor does stay in touch, you may have to end up paying a fee for a service If you feel better manage yourself and pay less for your insurance policy is actually good for you.

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Insurance compulsory for you to do.

August 22nd, 2010 by funds

A main issue I get asked quite often is, “Why do I need voluntary insurance. I have medical insurance and my company pays for some life insurance for me while I work here. Why do I need something else?” This is a legitimate question, but also one that is easily answered. Here are 3 reasons why everyone needs some form of voluntary insurance, especially in the form of life insurance.

1 – You may not always be at your current job. How many jobs have you had in the last few years? In recent years, that may be quite a few. With companies closing their doors by the hundreds and people being laid off for financial reasons, those company benefits are sketchy at best. If your sole life insurance policy is wrapped up in the company you work for, you are putting yourself and your family at great risk if you are ever laid off, if the company decides to no longer fund those policies, or if you are between jobs. How likely will a company be to pay a life insurance policy on someone who dies after they leave that company? The answer is…none at all. When someone has voluntary insurance in their portfolio, they are in control. They have the right to some payroll deduction while they work at a company that will accept that carrier, but that person can also take those policies with them at no additional cost and with no gap in coverage.

2 – Life changes. We may be wrapped up in our spouse’s health insurance and we may have even gotten some other benefits in a “shared” position. What happens if that spouse loses their job? What would you if that spouse passed away? If everything you have is tied up into a spouse and their job, you will always run the risk of those life changing events happen to you and effecting you even after the event happens. Did you know that even financial issues could keep you from acquiring life insurance? Life changes quickly and all those times you said, “I’m too young” or “I’ll do it later” could be too late. How about your health? I see more people who waited until they had diabetes or got a bad report from a doctor before they thought about getting needed insurance for themselves and their families. This is not meant to scare…it’s just the facts.

3 – We are not getting any younger. I know we all think we will live forever, but the reality is we will all have another birthday every year we live. Another given is that we will all die one day. The best thing we can do for ourselves is to start thinking about “what if” early on. Why? Because insurance is cheaper to buy the younger and healthier we are. Many times the voluntary policies stay at the same rate you buy them based on the age you bought them. If you do not want to worry about your age causing something negative to happen to you financially, think about these things when you are younger and money issues and your ability to gain those valuable things for you and your family is much less stressful.

There you have it. I could go on but I think you see my point. My dad got a small life policy for me when I was two years old. Guess what happened when I turned three? I came down with a kidney disorder that keeps me…a licensed insurance agent…from getting life insurance by normal and less expensive means. The good part is that my Father before and we know that the policy has a small car at the same speed they were when I was two years … your integrity is not too early. But I think that might be too late then.

I tend to call or email away

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