October 23, 2014 by Travis Redfern
As an insurance professional, you are likely always looking to offer new financial strategies services that meet your clients’ needs and improve your business. But even with the best intentions, it can be challenging to find new ways to improve.
If you’re looking to spark a new opportunity for your business, Brokers International’s CPA Alliance Program will show you how to reach out to CPAs, form new networks and potentially expand your services and clients.
“If a CPA is looking at a client’s full financial portfolio they may see an opportunity for me to step in, and send their clients my way,” said Stephen Dissette, of Stephen D. Dissette and Associates in Michigan City, Indiana. “Those referrals are a win for me.”
Since 2003, Brokers International has held workshops in 45 states with more than a total of 20,000 CPA participants. During each workshop, participating insurance agents and program Vice President Steve Peterson teach CPAs about annuities and life insurance, and the potential benefits of collaborating with insurance professionals.
“After building relationships through this program, I have been able to work with two CPAs on a regular basis,” Stephen said. “They help me provide the best solutions for my clients, so it’s a win for my clients and for my business.”
In addition to improving your business, the CPA Program helps local financial advisors view you and your services as a valuable retirement resource.
“Steve [Peterson] is key to engaging and exciting CPAs during the workshops,” Stephen said. “Once they understand the potential, it is my job to continue to follow up and build relationships with interested CPAs.”
If you are interested in tapping into a network of CPAs for collaboration opportunities, click here to see if you qualify. For more information or questions regarding the program, please call 800.362.1097 or visit the program website for more information.
September 11, 2014 by Pat Lanigan
At Brokers Life, we are committed to offering dedicated resources to help grow your business. So we created a new Brokers Life website to do just that: help you grow your business.
The new Brokers Life website has been updated to provide you with more functionality, convenience and useful online tools. The updates were made to help you provide great service to your clients and help grow your business.
The website is simple to navigate, making it easy for you to find important information quickly. It has increased functionalities such as online quote requests, simplified forms for submitting new business and a comprehensive list of insurance carriers and product options. Aside from being convenient, these additions save you valuable time.
You can visit the new Brokers Life website on a mobile device anywhere, at any time. So what are you waiting for? Click here to visit the site and give yourself a tour.
September 4, 2014 by Travis Redfern
In a previous blog post, Help your clients provide a legacy, you met Joe. Joe was a 62-year old retiree who wanted to provide a legacy for his daughter.
You meet people like Joe every day, because you have clients just like him in your existing database. They’re looking for ways to provide an inheritance for their families. But, you can’t help Joe and clients like him if you can’t get in front of them.
A client package is one way to let clients know that you’re there to help. By offering an estate book package, you can let clients, similar to Joe, know you want to help them with their legacy planning.
This can help ease the burden of paperwork that results in a loved one’s passing. An estate book outlines everything loved ones will need to know to help:
- Prepare for a funeral.
- Contact the necessary legal parties.
- Locate a copy of the will.
- Access important insurance documents.
If you need more details on what to include in the package, click here.
Once you’ve started the conversation, you can introduce them to the Safe ReturnSM fixed-indexed annuity with the optional Inheritance EnhancerSM guaranteed death benefit rider from Great American Life Insurance Company®. The Inheritance Enhancer is specifically designed to help clients who want to offer financial support for their families after they die.
To learn more, or receive a custom illustration on the Great American Life® Inheritance Enhancer guaranteed death benefit rider, simply call me at 800.362.1097.
Contract form number P1074509NW and rider form R6042513NW. Not available in all states.
The Inheritance Enhancer is an optional rider for which there is an annual charge.
August 21, 2014 by Pat Lanigan
September is Life Insurance Awareness Month, so I thought it was a good time to share some common myths about life insurance. You might want to consider using these as talking points with customers who are on the fence about securing a life insurance policy.
Group life insurance coverage through your employer is adequate.
- “Group life insurance creates a false sense of security, because it’s usually not enough to cover the life insurance needs of most individuals,” according to Keith Kruk, regional vice president of Fidelity Investments Life Insurance Company.1
Most people wait to get life insurance until they have their first child.
- According to LearnVest, a New York based financial planning company, “While 72% of married workers have life insurance, that figure ticks up to just 75% for married couples with young children.”2
You’ll have to pay taxes on the death benefit from your life insurance policy.
- LearnVest argues that, “In nearly all circumstances, benefits paid upon death are not taxed.”3
Only the breadwinner needs life insurance.
- “Imagine if something were to happen to the stay-at-home spouse in your family. The breadwinner may need to hire someone to clean and take care of the kids and that can cost a lot of money,”4 suggests Marvin Feldman, President and CEO of Life Happens, a life insurance non-profit organization.
Life insurance is really expensive.
- A recently-conducted study by Life Happens and LIMRA found that of Americans who admit to needing more life insurance, 80% overestimated the cost. In fact, 25% of those respondents “thought that the price for a $250,000 term policy (that would cost $150 per year) would cost at least $1,000 annually.”5
With all the myths out there, it’s important that you get the right information about life insurance. Give us a call at 866.528.7933 for more information on how you can help your clients protect their loved ones.
1 Fidelity Viewpoints. “How to layer life insurance for full coverage.” Fidelity. 28 April 2014. Web. 1 August 2014. https://www.fidelity.com/viewpoints/layered-life-insurance
2 Wicker, Alden. “The facts and myths of life insurance.” LearnVest. 1 May 2013. Web. 1 August 2014. http://www.learnvest.com/knowledge-center/the-facts-and-myths-of-life-insurance/
3 Wicker, Alden. “The facts and myths of life insurance.” LearnVest. 1 May 2013. Web. 1 August 2014. http://www.learnvest.com/knowledge-center/the-facts-and-myths-of-life-insurance/
4 Carter, Erik. “7 myths about life insurance.” Forbes. 6 June 2014. Web. 1 August 2014. http://www.forbes.com/sites/financialfinesse/2014/06/06/7-myths-about-life-insurance/
5 Durham, Ashley. “2014 insurance barometer study.” United Underwriters Incorporated. 2014. Web. 1 August 2014. http://www.uuinc.com/news/limra%20study.pdf
August 12, 2014 by Travis Redfern
Your personal brand, your reputation and your credibility are three very important things to continue building along with the size of your practice. One way to build on them is through your local television news.
When you work with Brokers International, you get access to our exclusive partnership with Media Minefield. Media Minefield is a Minneapolis, MN-based company that helps individual financial professionals gain access to valuable local television time without the cost.
Television news is an ideal medium for professionals to establish themselves as a committed financial professional to viewers in their area. A recent study by data-collection company GMI found that television news is the most trusted medium, and that 73% of Americans prefer to get their news from television.1
Recently, Media Minefield drew the attention of InsuranceNewsNet Magazine, a top industry news source. InsuranceNewsNet Magazine featured a Q&A with Skip Johnson, a Minnesota-based agent who attributes his success to working with Media Minefield. 2
Skip Johnson and a colleague founded Great Waters Financial in New Hope, MN, in September 2012. Appearances on local television news, facilitated by Media Minefield, has helped Skip get his name into the community and increase his influence.
It didn’t take Johnson long to start seeing the fruits of his labor. He received positive results “within a matter of months.”
“We were a brand new company and were getting feedback from our appearances,” Skip said. “Television provided us with name recognition that otherwise could have taken years to develop.”
Once you make an appearance on the local television news, you can use those clips on your website, social media pages, or other advertising pieces. By doing this, your credibility can still grow even if an individual didn’t see your segment on the news.
To learn more about how Skip Johnson benefited from working with Media Minefield, download the full InsuranceNewsNet Magazine article here.
1 Shearman, Sarah. “Social is the rage, but consumers still trust TV news: study.” PR Weekly. N.P. 27 March 2014. Web. 5 August 2014.
2 “Television News Helped This Independent Professional Increase His Public Profile.” InsuranceNewsNet July 2014: 27. Web.
August 8, 2014 by Karen Bump
Your female clients don’t want to be a participant in a transaction, they want to engage in an experience. And they want to feel cared about throughout the entire process.
“Financial professionals need to understand that for many women, service-related issues are as important as concerns about returns on investments,” According to the Women, Money and Power study conducted by the Allianz Life Insurance Company of North America.1
The study also showed that many women are displeased when there is a lack of responsiveness or if they feel they’re getting “cookie-cutter” responses or solutions.
Another of the study’s findings was that women prefer a different kind of learning. They prefer a method that’s more social, relatable, and affordable. And they prefer this learning to be facilitated in groups with other women of similar life experience.
What does this mean for you?
This means that when you’re doing business with female clients, make sure you’re adding a personal touch to your communications. Give them an extra phone call, an added email, or simply respond to an email with a “thank you” confirmation. There are many ways to personalize a relationship with a female client, so find a way to help her engage during the client experience.
These findings were just a small portion of Allianz’s Women, Money and Power study. To learn more from the study and gather insights about what these findings mean for your business, download the full study here.
1The Allianz Women, Money, and Power Study: Empowered and Underserved. Rep. Allianz Life Insurance Company of North America, Mar. 2013. Web. 8 Aug. 2014. <https://www2.allianzlife.com/Variable/content/public/Literature/Documents/ENT-1462-N.pdf>.
July 30, 2014 by Brokers International
As you learned in my previous blog, consumers crave content.
But to be effective, your content needs to be seen.
Use these three tips to help you get writing; get published and ultimately, be seen.
1. Publish content in small, easy-to-digest chunks. This makes it easier for your reader to understand and remember. Frame content in a way that provides your client or prospective client with a solution to a problem. Compel them to contact you.
2. Don’t be afraid to recycle your content. That means that you can publish it in more than place. Save yourself the time and/or money that goes into publishing large volumes of content. A little can go a long way, if you are strategic. Here’s an example of how you can create one piece and use it multiple ways:
- Write a blog featuring tips your clients can use to help prepare children for college. Post it on your website.
- Write one or two brief sentences to entice your audience to read the blog and post them on LinkedIn and Facebook. Provide a link to the blog.
- Place reprints of the blog in your office for clients to read while they are waiting for you; or send an email with a link to the blog to clients who have children preparing for college.
3. Before publishing, obtain the appropriate compliance approval needed for each piece of content you’ve created. Send pieces with similar content to compliance at the same time to help make the process faster and more efficient. (Click here to learn how to stay compliant on social media.)
By publishing content regularly, your clients and prospective clients will more than likely come to know you as a resource. It’s also likely they will think of you the next time they are looking for a potential solution.
July 22, 2014 by Travis Redfern
Two of the most common questions asked of sales support representatives at Brokers International are:
- Who has the best annuity?
- Who has the best income rider?
Unfortunately, these common questions do not have easy answers.
There is no “best” annuity or “best” income rider, because there’s not a one-size-fits-all solution.
Insurance companies offer various annuity products and riders because each client has different needs and goals for their retirement dollars. Those needs differ based on factors such as age, risk tolerance, withdrawal needs, etc.
You may be tempted to only offer annuity products from one insurance company to your client because the choosing between all of the available options can seem challenging. Also, it can be time-consuming to research other options.
That’s why we created the Annuity Product Search and Compare tool. On our website, you can use this tool to generate a list of potential annuity solutions by simply entering your client’s criteria. You have the ability to explore available options that may fit your clients’ needs. Click here to use the Search and Compare tool.
However, if you don’t want to spend time researching on your own, we’ve still got you covered.
At Brokers International, it’s our job to help you find ways to better serve your clients, and that includes researching products. Finding the right annuity or income rider for your client can be a challenging task, but you’ll find that with our help, you’ll be able to spend less time researching the annuity options and more time building relationships and growing your business.
Call our annuity sales support team to discuss your next case at 800.362.1097.