by Brian | Aug 17, 2023 | Life Insurance, Property and Casualty Insurance
In the world of insurance sales, Property and Casualty (P&C) agents sometimes hesitate about offering life insurance to their clients. While they’re largely focused on protecting things and managing risks, adding life insurance to their services could bring some surprising advantages. Let’s use Dale Carnegie’s helpful ideas to see how P&C agents can overcome their doubts and learn why including life insurance is a smart move. I would be willing to bet that if Dale Carnegie was a P&C agent, he’d sell life insurance. How Mr. Carnegie might approach “Life” Building Strong Relationships: When selling insurance, it’s important to have a good connection with clients. Dale Carnegie said it’s crucial to show genuine interest in others. If P&C agents offer life insurance, it shows they care about their clients’ overall safety. This builds trust and makes clients feel closer, which could lead to long-lasting partnerships. Understanding and Helping: Sometimes P&C agents worry read more
by Brian | Jul 27, 2023 | Life Insurance
What happens when your client receives a flat extra on a life insurance policy? Most of the time when an insured receives an unfavorable offer, it is in the form of a table rating. This is a permanent rating on the policy and can cause varying degrees of increases to the original premium. A flat extra is usually assessed when an insured has had a recent sickness. That sickness is likely to have taken place within a certain time frame that the underwriter deems as still leading to extra risk. The issue with a flat extra, especially on a term life insurance policy, is that it increases the premium much more dramatically than a table rating. It does usually fall off the policy, but that initial premium may cause your client to balk and not take the coverage at all. On the example attached, a 57 year old male looking read more
by Brian | Apr 26, 2023 | Life Insurance
Life insurance is a critical investment that provides a financial safety net for you and your loved ones. Unfortunately, there are many myths and misconceptions about life insurance that prevent people from getting the coverage they need. In this article, we’ll be debunking life insurance myths to help you make informed decisions about your financial future. Myth: Life insurance is only necessary for those with dependents. Fact: Life insurance can benefit anyone, regardless of age or whether they have dependents. Life insurance can help cover final expenses and provide a financial safety net for loved ones. Myth: Life insurance is too expensive. Fact: The cost of life insurance can vary depending on factors such as age, health, and coverage amount. However, there are affordable options available, and getting life insurance at a young age may be more affordable as premiums are typically lower for younger, healthier individuals. Myth: I don’t read more
by Brian | Mar 30, 2023 | Life Insurance, Uncategorized
Life insurance is a crucial financial tool that can provide financial security and peace of mind for families in the event of an unexpected death. However, many people are put off by the perceived cost of life insurance, assuming that it is too expensive to be affordable. In reality, life insurance can be very affordable, and not having it can end up costing a family a lot more in the long run. Affordability and Importance of Life Insurance is too important to overlook! There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance is the most common and straightforward type of life insurance. It provides coverage for a set time, such as 10, 20, or 30 years. If the policyholder dies during the term of the policy, their beneficiaries receive a tax-free death benefit payout. Term life insurance is affordable and a read more
by Brian | Jan 20, 2023 | Uncategorized
Life insurance fraud is a criminal act in which an individual or group of individuals intentionally deceives an insurance company in order to receive a financial benefit or payout from a life insurance policy. This can occur in a variety of ways, from exaggerating or fabricating claims on a policy to providing false information in order to obtain coverage. Examples of life insurance fraud include: Policyholder fraud: This occurs when the policyholder provides false information on a life insurance application in order to obtain coverage, such as exaggerating their health status or providing a false occupation. Beneficiary fraud: This occurs when a beneficiary of a life insurance policy makes false claims in order to receive a payout, such as fabricating the cause of death or providing false documentation. Agent fraud: This occurs when an insurance agent engages in fraudulent activity, such as selling policies to individuals who do not read more
by Brian | Oct 28, 2022 | Uncategorized
Key man Company life insurance is a life insurance policy that a company purchases on the life of an owner, a top executive, or another employee that is critical to the operation of the business. The business owns the policy and is the beneficiary. The business also pays the premiums.The business owner should ask him or herself: What would happen if that key employee died? Would the business be able to keep operations going and keep the status quo?What financial impact could that death cause?What dollar amount would be needed/wanted if that key employee was to pass? By having Key Man coverage, a business can weather the storm if a key employee passes. The death benefit can be used for Recruiting, hiring, and training a new employeeIf the business can’t be continued, the money can be used to pay off debts, distribute money to investors, and provide severance to other employees There read more
by Brian | Feb 26, 2021 | Life Insurance
With everyone’s health on the radar a little more due to Covid, it is important to truly think long term about one’s life insurance. For some, term insurance will still be satisfactory for what a client is trying to accomplish, which could be protecting lost income or a mortgage. However, for other clients, it could be an opportune time to look at whether a term conversion makes sense. With a solid conversion option, a client can choose to keep all or a partial amount of the term coverage that he or she had. And the beauty of the conversion is that there will be no medical underwriting. For any client who has had a significant health change, this can invaluable. A term conversion is a provision that most life insurance carriers offer that allows an insured to convert all or a portion of their coverage to permanent, without having to read more
by Brian | Feb 19, 2021 | Life Insurance
An important part of building a life with your significant other is creating a good financial foundation that can protect each other and your family. Knowing how to buy life insurance as a couple should be a big part of that plan. To find the best coverage for your partner, here are some tips. Buy life insurance for both of you Once you’re married and your lives are bound together, so too is your financial future. Life insurance is a vital component of your financial security. Chances are good that you depend on each other for financial support, and if you have children they also depend on you both. Your spouse can use the life insurance money for a variety of things, including: Day-to-day living expensesSupporting your childrenInvestments or future incomeThe creation of an extra emergency fundPayments for your final expenses when you pass awayPayments for an outstanding mortgagePayments for read more
by Brian | Oct 17, 2019 | Uncategorized
We all hear about the big breaches in the marketplace but what does that mean to us, what can an identity theft protection services actually do to protect us? If these questions have ever run through your mind, you are not alone! But, we should understand these services and what they offer. First! No, Identity theft protection services DO NOT prevent identity theft. The prevention of identity theft is a far fetched idea at this point. You would have to gain/regain control over all of your personal information from every area of your life and secure that information. This, unfortunately, is unrealistic as most of our information is out there already. We provide our Personal Identifiable Information (PII) for almost everything/transaction we do. Our own behavior and the companies we associate with every day are susceptible to breach or mishandling information, putting us all at risk. This alone creates exposure read more
