No Comments 22 Sep 2017
If you've ever found yourself thinking something that starts like this, "I'd sell more life insurance if...", you are not alone. In 2016, we conducted an online survey of insurance and financial professionals that focused on the state of advisor relationships and decision-making criteria regarding their Brokerage Agencies. Hoping to get a better understanding of some of the road blocks insurance advisors face, we asked them to finish the statement "I'd sell more life insurance if..." Below is a compilation of the most common responses we received, coupled with key ways other financial professionals are successfully addressing these road blocks.
No Comments 19 Sep 2017
This Life Insurance Awareness Month we've been sharing a lot of content with you from Life Happens. As we've mentioned before, this is a great resource for advisors and brokers to use and share with their clients. One of the most powerful ways that Life Happens spreads their message is through video. Their website has a plethora of moving and informative videos that explain the importance of life insurance, long term care and more!
Share this video with your clients to remind them of the crucial role that life insurance can play in their lives.Read More
Do you have clients with traditional IRAs? Are they close to age 70 or older? If so, you need to read on.
Current tax law requires clients who have an IRA and certain other retirement products to start taking a required minimum distribution (RMD) at the age 70 1/2. These minimum distributions are calculated annually based on their age, account balance at the end of the previous year, marital status and their spouse's age. If they do not take the annual minimum distribution, your clients may be subject to a 50% penalty tax on the underpayment, as well as ordinary income tax, as the funds are withdrawn.
The question we typically hear is, “how can I quickly calculate my clients' RMDs?"
We have the solution! Use our simple interactive calculator to get your clients' projected RMDs. This can be accessed when you need it on our website. All you'll need is the following information from your clients.Read More
In celebration of Life Insurance Awareness Month, we're bringing you the most popular life insurance blogs posted by BSMG!
1 Comment 6 Sep 2017
September is Life Insurance Awareness Month (LIAM)! According to Life Happens, the purpose of highlighting life insurance for an entire month is "to make sure Americans are reminded of the need to include life insurance in their financial plans." Each September, Life Happens is joined in this educational initiative by more than 100 of the nation’s leading insurance companies and industry groups.Read More
The number one reason that people purchase life insurance policies is to protect the ones they LOVE. All too often we hear horrible stories of people who unexpectedly pass away and their families are left scrambling. Life insurance can be a difficult topic to talk about but finding the time to discuss it with your clients is so important. Life Happens is a website that advocates for life insurance awareness. They create campaigns that are dedicated to educating people on the important role life insurance can play in their lives. One of these campaigns is "Insure Your Love" and it's a great way for you to start the conversation with your clients!
The Case Challenge:
A 75 yeaIr old gentleman was previously deemed uninsurable by 7 life companies for $9,000,000 of Survivorship coverage due to extensive coronary artery disease history. An initial clinical triage unveiled past inferior and anteroseptal heart attacks, diffuse coronary artery disease, enlarged heart, Stage II chronic kidney disease and a 2012 brain injury.
No Comments 21 Aug 2017
The LIMRA's 2017 Insurance Barometer Study is available and we bring you the highlights of what our team found most interesting about current consumer behavior. The results are impressive and confirms why you should be including life insurance within your broker services toolkit.
For the 7th year in row, LIMRA's 2017 Insurance Barometer Study has identified that the most common concern your client has is the ability to afford a comfortable retirement.Read More
Get the most out of one meeting by asking your clients the right questions.
You have the prospective client in your office or on the phone, now what do you do? Start by asking the right, open-ended questions to create a meaningful conversation. Get your clients to talk about themselves in order to gather as much information as you can, in as little time as possible.
Target the basics: Who, What, Where, Why, and How. Use the questions below as a financial advisor prospecting tool to hold a productive client exchange. The answers to these questions will assist you in providing the best financial recommendations.