April 17, 2014

098 You Cannot Fear Failure

098 You Cannot Fear Failure
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Preface: this post and podcast episode is focused mainly toward our fellow agents, however, there are some nuggets in here for everyone.

Have you ever been one of those people that spends an agonizingly long amount of time thinking things over, looking for ways to talk yourself out of taking action?

Whether it is was an investment opportunity, a business opportunity or just a major purchase of some kind.

I have been one of those people and continue to be that sort of person on occasion. Timely example–I recently bought a new Macbook Pro.  Now, no big deal right?…well I’ve been eyeballing that thing for well over a year, building it out like I want it, and even having in my shopping cart (online) on more than one occasion. But never pulled the trigger. Read More…

April 16, 2014

097 Life Insurance Marketing: Does That Even Exist?

097 Life Insurance Marketing: Does That Even Exist?
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Why don’t life insurance companies do a better job of marketing the many benefits of using their cash value life insurance policies?  They talk a lot about death benefit, not so much about anything else.

The truth is that most advertising and/or marketing that’s done by large life insurers is more focused on brand recognition than anything else. Running ads during the Superbowl with calving whales and people sailing on their yachts is about as obscure as it gets.

But it makes someone in the marketing department look good to all the C-level people who happen to be watching the big game.  None of it does anything to actually convince a consumer to buy a product from the company in question. Read More…

April 15, 2014

096 Should We Stop Spreadsheet Comparisons of Cash Value Life Insurance?

096 Should We Stop Spreadsheet Comparisons of Cash Value Life Insurance?
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Lately we’ve been asking ourselves if given all the difference in policy features from company to company and policy to policy is it fair to spreadsheet to cash value life insurance?

And what is spreadsheeting anyway?

We should probably explain what we mean by that. It’s the process by which we take all the data from various cash value life insurance illustrations and line it all up in a spreadsheet so that someone can easily compare their options.

Ironically, most of the time we already know who the likely winners are, but we often spreadsheet to help people understand the differences. Why do we bother doing that if we already know who the likely winners are going to be? Read More…

April 11, 2014

095 Why Smart Agents Do Dumb Things

095 Why Smart Agents Do Dumb Things
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Why do otherwise intelligent financial advisors and agents do dumb things?  Not sure if we really know the answer to that one but we’re taking a stab at it today.

Contrary to what many in the media will say, we don’t really believe that most of the bad things that are done by advisors are done to line their pockets with money.  No it’s generally much less deliberate than that.

What’s the number one reason smart advisors do dumb things?

Well, we actually think it’s because they don’t know any better. There is no training in this industry that focuses on helping a new advisor understand the products fully and how they may fit into an overall plan.

There’s lots of training on sales tactics, phone techniques, and overcoming objections but not much else.

 

April 10, 2014

094 Not All Life Insurance is Created Equal

094 Not All Life Insurance is Created Equal
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Today we are going to get into a bit more detail as to why the proper design of a cash value life insurance policy is so crucial.  And we are going to give you some examples that there are numerous ways to design life insurance.

If everyone would just listen to us, they’d have more money, a policy that performs better and achieves all those things in the most efficient way possible. Not to mention, you’ll have better hair, your spouse will love you more and your kids will think you’re the greatest.

No not really but that would be cool if we could pull that off. Read More…

April 9, 2014

093 Sometimes It Doesn’t Get Better

093 Sometimes It Doesn’t Get Better
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There are many times in our experience in the life insurance and financial services industry where people do all or a majority of their planning with this idea that things will be different 10 years from now. More to the point–my financial picture will look much different than it does today.

In other words, that 10 year term policy will be probably be just fine because by the time the term is up I’ll have most of my debts paid off, my kids will be out on their own, and I just won’t have near the need that I have today. Read More…

April 3, 2014

Check These Earnings Out

Check These Earnings Out
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Well, better late than never I guess.  Sunday is the new Thursday anyway…right?

It would seem  that once again it pays quite well to be in the life insurance industry.  Earnings for the industry have been steadily climbing upward for the last two years. Read More…

April 2, 2014

Why the One Stop Shop Advisor is a Bad Idea

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Today’s Financial Pro Cast discusses the logistics of a one stop all knowing advisor who can handle all aspects of your financial lives.

Additional Post will go live tomorrow.

April 1, 2014

2013 Annuity Report

2013 Annuity Report
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Today we discuss 2013 annuity sales results.

There were a few surprises out of this data, and some interesting observations when compared to last year.

Read More…

March 27, 2014

Cash Value Life Insurance: There is a Right Way and a Wrong Way to do it

Cash Value Life Insurance: There is a Right Way and a Wrong Way to do it

Cash value life insurance is not really like a shirt sitting on the rack at Macy’s, but instead a stock piece of clothing at your favorite clothier. Sounds a tad strange, but here’s my point. Life insurance is a very customizable product. I can tweak a lot of aspects to life insurance (any kind really) to make it do certain things better or worse. This is one of the many things that makes like insurance such an incredible financial tool.

But many people would rather pretend that life insurance is an “off the rack” product that can only be implemented in a very narrow band of options. Nothing, thankfully, could be further from the truth.

Read More…

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