As people age into their 80s, with longer life expectancies, their mental capacity is often diminished. This declining capacity presents an interesting issue which can impact whether continued gifting of premiums to Irrevocable Life Insurance Trusts (ILITs) can take place.Read More
No Comments 5 Jun 2017
After a long winter and wet spring, it's nice to start seeing the sun shining through the clouds! Often, summer means long days, BBQ's, vacations and fun! Unfortunately, summer can also mean danger. We looked at some scary statistics surrounding classic summer activities. Be sure to share these stats and infographics with your clients to illustrate the importance of risk protection products.Read More
June not only marks the beginning of summer, it also marks the beginning of Annuity Awareness Month! This is a great time to talk to your clients about annuities. According to LIMRA, Fixed Indexed Annuity (FIA) sales hit record levels in 2016, and there is a reason why! Find out more about the power of annuities with our top annuity blogs below.Read More
No Comments 26 May 2017
Happy Memorial Day!
Memorial Day marks the beginning of summer but here in Rhode Island it's still a little dreary! It is easy to get caught up in the excitement of this long weekend but we should also remember to take the time to thank our troops and show them our support during Memorial Day weekend. We at Brokers' Service Marketing Group appreciate all that the troops do to protect and serve our country.Read More
No Comments 25 May 2017
The financial and economic news is filled with articles and commentary on major federal tax reform in 2017. U.S. Treasury Secretary Steve Mnuchin has called President Trump’s tax proposals the “biggest tax cuts” in U.S. history. Just when these business tax, estate tax and income tax cuts will be enacted into law remains unknown. The political process to pass major tax reform is long and difficult. It requires ongoing cooperation by various political coalitions in Congress and the members of the Trump Administration.Read More
BREAKING NEWS 5/22/17: Yesterday, the new Labor Secretary announced in the Wall Street Journal, that he will not delay the DOL Fiduciary Rule further. He did, however, announce a temporary enforcement action that will delay the enforcement of the rule until January 1st , 2018. This means that firms will have temporary relief through January to finalize their plans.Read More
No Comments 19 May 2017
May is Disability Insurance Awareness Month
Everyone knows someone who was sidelined from a job due to an unexpected injury or illness, and yet Disability Insurance (DI) is still one of the most overlooked types of insurance. The most common reason people tend to shy away from paying for DI is because they don't think it will happen to them, however we use the word unexpected for a reason. According to a Life Happens survey, "a person has a three in ten chance of suffering a disabling illness or injury that would keep them out of work for three months or more during their career".
So why aren't people protecting themselves, their family or their income? We think it's because advisors are not having the conversation. Here are the 6 most eye opening facts that should have your clients signing up for DI tomorrow.Read More
DID YOU KNOW?
It is a common misconception by consumers that once a life insurance policy is purchased they can "set it and forget it."
Has your life changed in the last five years, how about the last two years? I don't need to tell you how quickly life can change. Your client's lives are also continually evolving, so shouldn't their life insurance protection be reviewed to match? Use these life insurance sales tips to keep in touch with your clients and ensure their current policy still matches their needs.
Life is busy, your clients may (or may not) be aware that they need to update their policy coverage. They also may not have the time to research new products or even to pick up the phone to call you for help. Be proactive and check in with your clients. Do they have a new career, business, child or home? The simple question of "when was the last time someone reviewed your policy?" may be all you need to open the door.Read More
Check out these tips on approaching small business owners for insurance agents & advisors.
Small business owners respond well to an approach that includes educational information and planning for their future success. They feel their business is unique. If you can teach them something new, they will be more open to meeting with and listening to you.
“Tell me what you’ve done for other small business owners and why it is right for me.”Read More
Do your clients ever ask if there are options for transferring a policy out of an ILIT when the terms of the trust no longer meet their planning objectives? Review these 5 techniques to "rescue" their life insurance policy from an ILIT and be prepared with the answer!