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Why buying life insurance in your 20s may be a good decision

People who bought life insurance policies in their 20s explain why they are glad they did. Several mentioned the peace of mind it provides, while one pointed out that he avoided higher premiums based on risk factors that showed up later in life. Business Insider

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Exec: September a perfect time to broach life coverage with clients

With September being Life Insurance Awareness Month, it’s a good time for agents and brokers to check with clients to see if they have the coverage they need, writes Aflac executive Wendy Herndon. She recommends three ways to broach the subject. ThinkAdvisor

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AALU, GAMA International to merge by June 2020

The Association for Advanced Life Underwriting and GAMA International have announced plans to merge into one organization by June 2020 and adopt a new name. Commenting on the merger, NAIFA CEO Kevin Mayeux said, “NAIFA welcomes opportunities to continue working with all other groups sharing common interests on behalf of…

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Exec: Be cautious when promoting accelerated underwriting

Life insurance agents need to make sure they promote accelerated underwriting without overselling it, writes Ray Caucci, CEO of Vantis Life. To do that, he suggests agents only prescreen applicants likely to qualify, set reasonable expectations and carefully choose their words. InsuranceNewsNet Magazine online

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Index: Life insurance applications up 3.3% in June

Life insurance applications rose 3.3% in June compared with a year ago, boosting second-quarter performance to 1.5% and offsetting a 1% decline in the first quarter, according to the MIB Life Index. The index shows growth being driven predominately by older applicants. ThinkAdvisor

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Commentary: Let adult children insure parents’ lives

Making it easier for adult children to take out life insurance policies on their parents could help them recoup money spent on caregiving, writes Life Benefits founder Tomas McFie. Creating a policy for this purpose would be profitable for insurers and help prevent financial hardship for people caring for elderly…

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4 groups who can benefit from life insurance

If you have started a family, remarried, own a business or have potential estate tax liabilities, life insurance can be a good planning tool, writes Catherine Schnaubelt of CIBC Private Wealth Management. She stresses the importance of choosing the right policy with an appropriate amount of coverage. Forbes

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Don’t miss out on life-settlement opportunities

Life insurance producers should be mindful that clients don’t miss out on opportunities to convert life insurance policies into life settlements, Robin Weinberger and Peter Katz write. The contestability period and policies lapsed beyond the grace period present roadblocks to life settlements, they write. ThinkAdvisor (free registration)

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Commentary: It’s never too early to buy life insurance for children

Each insurer has guidelines on how old children must be before parents can purchase life insurance for them, but it’s almost never too early to do so, writes Edward Auble owner of Auble Financial and former president of NAIFA-Pennsylvania. Life insurance for children is inexpensive, and buying a policy early…

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Exec: Highlight life insurance’s role in retirement savings

To turn life insurance shoppers into buyers, the industry needs to "bring the life insurance decision higher on the consumer financial scale," LIMRA CEO Robert Kerzner said during the 2018 Life Insurance Conference. Agents need to move away from focusing on death benefits and highlight life insurance's role in retirement…

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