6 Months of Ideas – ONE Ideas for the Purchase of Life Insurance
AgencyONE’s weekly ONE Ideas are designed to discuss a range of industry topics that are linked to current trends in Advanced Markets, Case Design, and Underwriting. There has been a lot of activity within the industry over the last 6 months (COVID, the election, ongoing interest rate pressures, and product changes) so this week’s ONE Idea will offer a RECAP for this past month with links to the full copy of each AND a list of all of our published ONE Ideas since the beginning of 2021 with a hotlink to the full article.
JUNE ONE IDEA RECAP
We started out the month with an Underwriting ONE Idea on June 4th entitled You Want Preferred Offers? You Need to Understand Preferred Criteria! This well-written ONE Idea from our underwriting experts discusses the details of a PREFERRED rating and WHAT the carrier expects to place the offer. This ONE Idea provides a deeper understanding of the rating and is intended to help you have meaningful and educated conversations with your clients while setting the proper expectations at the outset of the case.
Our second ONE Idea for the month came From the Desk of Gonzalo Garcia, CLU on June 11th and is entitled End of Term Insurance Period STICKER SHOCK! This article discusses what happens to Term policies at the end of their term period, the Annual Renewable Term rate that goes into effect and the various product options and carrier restrictions that the advisor and the insured need to understand. The assistance of a savvy advisor is CRITICAL to helping the client establish his/her financial needs and goals, and to understand the impact of physical health on the renewal or conversion of a policy.
ONEIdea number three for the month came From the Desk of Ed Stark, CLU, ChFC on June 18th and is entitled A Premium Finance Insurance Case (with options) That Went Well! This article highlights examples of the Premium Finance cases we see at AgencyONE, why advisors and clients like the Premium Finance option, the difficulty in illustrating a Premium Finance case, and a case study that shows the detail that goes into planning and executing a successful Premium Finance case.
SIX MONTHS OF ONE IDEAS
Following is the list of all ONE Ideas from January to May 2021:
Advanced Markets/ Economic Outlook
May 6: Attack of the Step-Up in Basis – Life Insurance to the Rescue
Apr 16: Optionality is KEY to Estate Planning Today
Mar 26: A Worry for All – New Proposed Tax Law
Mar 1: A Simple Solution to the Estate & Gift Tax Quandary
Feb 12: Why Fee Advisors Should Consider No Load or Low Load VULs
Jan 27: Section 7702 – How to Design an Efficient Life Insurance Contract
Jan 15: 2020, Interest Rates, COVID, & the Life Insurance Industry
Underwriting
May 14: Why is My Client a Preferred Life Risk, but Declined for Long-Term Care?
Apr 5: Aortic Aneurysm – Can I Still Get Life Insurance?
Mar 5: You Have to Ask the Questions: Marijuana & Disclosure Issues
Feb 5: ASPIRE Makes Life Insurance More Affordable When Living with Diabetes
Jan 11: Underwriting Success in 2021 Despite COVID
Product Intelligence
May 21: Death Benefit Design Options Using Section 7702 Compliant Products
Apr 23: Term Insurance Locks in Future Insurability
Mar 19: Finding the Right Insurance Solution – Drilling Down
Mar 12: A Personal Story – Life Insurance for Children
Feb 19: Life Insurance – What is Left to Sell?
Jan 22: Policy Servicing – Help Your Clients & Help Yourself
HELP YOUR CLIENTS UNDERSTAND THE PROCESS
Each of these ONE Ideas is meant to help you and your clients gain a better understanding of the planning, product selection, design, and underwriting that goes into the purchase of life insurance. We hope you find these ONE Ideas helpful when assisting your clients with their financial, wealth, and estate planning needs. Thank you for entrusting your business to AgencyONE. We greatly appreciated the opportunity to serve you and your clients.
Please contact AgencyONE’s Marketing Department at 301.803.7500 for more information or to discuss a case.
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