Commentary: The annuity business needs to clarify its message The annuity business would do well to develop a consistent message, writes Stan Haithcock. “The current ‘annuity message’ is so disjointed and random that it would cause most ad agencies to pull their hair out,” he notes. “Is it growth? Is…
Opinion: Despite sales increases, life insurance needs to evolve Life insurance products need to be easier to understand and purchase, Ron Herrmann writes. Insurance companies can help the industry by offering products that meet each market’s needs and then providing brokers and advisers the resources and expertise to explain the…
Commentary: “Outside-the-box” solutions can help insure some clients Considering a range of options can help advisers find solutions to difficult scenarios, whether it’s an older client facing high premiums for term life insurance or someone who’s considered high-risk, writes Gregory Schwabe of First American Insurance Underwriters. Finding creative solutions is…
Help clients plan for elder care Many families avoid planning for elder care, and advisers who help clients understand the importance of planning can help them avoid mistakes and missteps later. Families should organize elders’ financial and health information and have a list of advisers. Families should determine who will…
Experts: Rising interest rates may boost annuity/LTC products Low interest rates have depressed sales for products that combine annuities and long-term-care benefits, according to experts. Sales are so low that LIMRA and the American Association for Long-Term Care Insurance said they don’t even track those numbers. But “if interest rates…
Producers talk life insurance education Producers say they have found success in using a combination of their own materials and company brochures in the crucial task of educating clients about life insurance. Giving examples of people who needed insurance is better than simply talking numbers, they say. “If you don’t…
Survey: Many consumers incorrectly think Medicare pays for LTC More than half of respondents to a Bankers Life and Casualty survey said they expect to rely on Medicare to pay for their long-term-care needs, even though the program usually won’t pay for care in nursing homes or assisted-living facilities. Only…
Commentary: Financial planning needs to be tailored for the client Taking the time to learn about clients and understand them is key to coming up with the right financial plan for them, writes Tim Maurer of Financial Consulate. In initial consultations, asking open-ended questions and listening are more important than…
Survey shows investors appreciate adviser certifications Eighty-four percent of Americans say that certifications are important when choosing a financial adviser, according to a study conducted on behalf of the Certified Financial Planner Board of Standards. The survey comes as associations are trying to heighten understanding and recognition of designations like…
Study examines why more people don’t buy LTCI Nearly two-thirds of people 40 and older have thought little about long-term care, according to a study commissioned by the SCAN Foundation. Having private long-term-care insurance was more likely among people who are more educated, and agents need to consider several factors…
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