Why Term Insurance Is the Answer … Sometimes

11 Aug

Guest contributor: Jason DeMeo, ChFC, LUTCF, FLMI, is a business development specialist at Crump Life Insurance Services.

Let’s say you have a client who is in the peak of earnings potential, and you have discussed life insurance with them. You have determined how much insurance the client needs and how long the client should keep it. You have settled upon a term insurance policy to cover the current value of their future income over their remaining working years (let’s say it’s 20 years), although early retirement has not been ruled out. However, we know that life doesn’t always work out as we plan. More>>

3 Proven Ways to Engage with Clients About Annuities

4 Aug

Guest contributor: Brendan Connerton, director, annuity sales, at Crump Life Insurance Services.

It’s always good time to look at the current annuity industry landscape, and what financial professionals are considering for their clients. Here are three established methods that can help generate leads to build on. Also, worth considering are the asset-based linked benefit long-term care products, to potentially weave into a “while-you’re-at-it” combo sales on repositioning assets. More>>

How to Build Wealth and More with Permanent Life Insurance

26 Jul

Many people know how term life insurance works. But they often don’t know how permanent insurance works. To refresh, term life insurance provides protection for a specific period of time. Permanent life insurance offers a death benefit with lifelong protection. Additionally, it offers you the ability to accumulate cash value on a tax-deferred basis. It’s money that’s there for you whenever you need it, for whatever you need it for. More>>

Maximizing Income with A Navigational Approach

14 Jul

Guest contributor: Bernie Casey, CAS, CIS, is an annuity wholesaler at Crump Life Insurance Services.

Advisors and their clients frequently want to know how to generate guaranteed income from a retirement portfolio. This objective has been on the rise, particularly after the market crash of 2008.

The concern arose again at the start of the COVID-19 pandemic, when we experienced portfolios decreasing in value significantly, then increasing and creating volatility concerns with clients. Combine market volatility with the potential for a client outliving their money during retirement and you have both a challenge and an opportunity for advisors. More>>

Life Insurance Isn’t a Waiting Game

12 Jul

Americans can no longer make excuses for why they haven’t purchased life insurance. According to the 2021 Insurance Barometer Study, those who are uninsured appear to want more convenience in the life insurance process, citing that they haven’t been approached about it (46%), it isn’t offered through their employer (42%), and they haven’t gotten around to it (62%) as reasons they don’t have coverage. But a silver lining to the COVID-19 pandemic is that obtaining life insurance has never been simpler. More>>

The Life Insurance Industry Provides Coverage and Protection Options for All Genders

7 Jul

Guest contributor: Chris Cook, serves as senior vice president and head of underwriting at Crump Life Insurance Services.

Today’s life insurance industry has products available that are inclusive of the needs of all consumers, including the 1.4 million adults in the U.S. who identify as transgender. Whether the need is for mortgage protection, estate planning, financial security for a spouse or children, or living benefits such as retirement income or long-term care, there are products designed to fit the specific need. Most important, with innovations such as accelerated underwriting programs, the process of obtaining coverage has never been easier. More>>

Five Financial Planning Tips for LGBTQ+ Couples

14 Jun

June is Pride month. Here are some tips on planning for your future.

Sometimes the hardest commitment couples make is to join their finances. After all, money matters encompass a host of sensitive personal issues including values, goals and priorities, which is why it’s vital to be on the same page as your partner.

Many LGBTQ+ couples find themselves with an even more complex web as they navigate finances unique to their situation. More>>

The Gender Divide

26 May

A MAN AND A WOMAN WALK INTO AN ADVISOR’S OFFICE …

No, it’s not the setup of a well-trodden joke. In fact, the difference in treatment that male and female clients receive is far from humorous.

While many financial advisors claim or even believe they treat all clients equally, regardless of their gender, studies show a significant difference in the way advisors work with men and women. The culprit for this inequitable treatment? Unconscious, or implicit, gender bias. More>>

How Much Disability Insurance Do I Need?

3 May

There is no one-size-fits-all answer for how much disability insurance a person needs. That’s because that number is dependent on many personal factors. That said, an easy way to get an idea of how much disability insurance you would need is to do this calculation: More>>

5 Ways to Become More Financially Literate

26 Apr

The term “financially literate” means understanding how to manage your money – from debt management to saving and investing, to preparing for retirement. The more you know about how to handle your finances, the better decisions you’ll be able to make in the present and for your future. But how do you get up to speed? In honor of April being Financial Literacy Month, here are 5 tips that you can use right away to improve your financial literacy. More>>