When you hear the word disability, what is the first thing that comes to mind? If you’re like most people, you might imagine the physical objects commonly associated with an illness or accident such as hospital beds, canes, walkers or wheelchairs. That’s what I thought until I experienced a personal disability that I live with today. Over the years, I have learned the “true” meaning of disability. The formal definition of a disability is a physical or mental condition that limits a person's … [Read more...]
Elimination of Commission Payments in Health Markets
Numerous studies have shown that choosing the right health insurance coverage is a daunting task for many consumers, especially those who have never had coverage. Consumers need advice from informed health insurance agents who can help them understand the various health insurance options, evaluate the benefits, enroll in a plan and file a claim. Advisors also provide personalized advice to their clients throughout the life of their policies. This is why the National Association of Insurance … [Read more...]
Why We’re Failing Our Policyholders
Simple but critical concepts, like the cost of delaying a term conversion, must be done annually with a needs review. A policyholder with a $75,000 term policy called in to change his address. Let’s call him Jack. During the conversation, the agent learnt that Jack had had bought a second home and so now moved between Wisconsin and Utah, spending much of his time golfing. The agent congratulated Jack on his successful retirement and spent much time discussing their shared interest in golf. … [Read more...]
Your Guide to Living Benefits in Insurance Plans
“Living Benefits” has become the phrase for companies marketing Critical Illness insurance plans and rightly so. But what exactly are living benefits and what is making them so popular as insurance products? Generally people only considered protecting their family in the event of their passing. With the advancement in medical technology we generally survive an event that used to take our life. Imagine someone has a Life Insurance policy with a $500,000 death benefit. This will pay a … [Read more...]