Welcome to our Insurance Perspectives.
You will find a lot of "quick hit" information meant to help you address client's needs.
For fast navigation, use the quick links or drop down menus for specific areas of interest.
CD's interest rates are RIDICULOUSLY LOW RATES! You can help your clients can do better with Fixed Annuities!
Check out these Guaranteed Interest Rate Annuity Products or run your own using our Annuity Quote Engine which is free to you and will help you serve your clients needs. Bill will walk you through the quotes and help you analyze products if needed.
Rates as of 1/12/2022
Prefer a flexible premium product? We have one you really should take a look at. It can be started with as little as $10,000 and additional contributions do not extend surrender charges. It has a great fixed rate as well as multiple index strategies to choose from. Two surrender period options, 7 years or 10 years which includes a 1% premium bonus! This product works great for IRA's too with only a $5,000 start up!
Many states, including Texas, now have new standards for producers to meet, called "Best Interest". We can help you learn and navigate these guidelines and get your continuing education set up with a free voucher!
Are there people out there who are just Impossible to insure? Not if he/she is 50 to 80 years old.
For better or worse? 1997, the year that changed long term care insurance.
Almost 25 years ago, “Tax Qualified" long term care insurance became available and quickly became the only policy type of policy being marketed. TQ LTC products provided the possibility of tax deductions or tax credits for premiums and income tax free benefits became the selling points but unfortunately the possibility of premium rate increases also became a reality, which no one really expected but which almost all policy holders have now experienced.
The Cost of Extended Health Care is still one of the biggest risks to your client's savings and retirement but because of premium increases agents have either seen on their own clients or heard about, they tend to shy away from selling long term care insurance or even having that conversation. I have even had agents tell me that they would “never” sell a long term care policy because they have “seen what happens to the premiums”.
Thankfully, there are two carriers currently offering up to lifetime benefits with guaranteed premiums for the life of the policy! You won't have to worry about apologizing for what you write or worse yet, for not asking for fear of a rate increase.
And because of the 1997 changes, your clients may even be able to deduct some or all of the premiums even with these guaranteed premium policies. For a guide on the deductibility of Tax-Qualified long term care premiums, Click here
Keep in mind, health care providers are counting on your clients becoming their clients and the bills for extended health care will have to be paid until they get well or die. Unfortunately, for most people that means using savings and then retirement funds to pay for extended health care that their health insurance or that Medicare doesn't cover.
Fortunately, many of your clients still have the opportunity to purchase LTC or at the very minimum a home health care policy and use some of the insurance carrier's money instead 100% of their own to pay the bills. But the older they get the harder it is to qualify for coverage. The time for the conversation and planning is sooner rather than later. Let us help you have that conversation and show what today’s products have to offer, without the apologies.
Please review your book of business and identify those with Met Life (now Brighthouse), ING (now VOYA) and or Genworth/First Colony (now Genworth) and discuss current and future needs with your clients. Is their current term, UL or WL still appropriate or is a change suitable?
Some carriers have undergone operational and service changes that have made it very challenging to provide policy service and more specifically to get conversions that your clients may need in the future.
Please be aware, not every carrier we have is active on our quote system. We continually monitor our carriers and provide you with the ones that are competitively priced, timely in underwriting and willing to work with the agent and clients to approve and issue cases. The good news is that for "most" cases our online quote system represents BOTH the top priced as well as easy to work with companies but it doesn't hurt to check when nothing but being the cheapest matters.