Underwriting, premiums, contestability period—terms like these can make insurance words seem like a foreign language.
Fortunately, a good insurance professional can help you make sense of it all. So can the definitions below. We explained them in recognition of Financial Literacy Month. Read on to understand some commonly misunderstood insurance words. More>>
In 2010, 63% of Americans had life insurance, according to LIMRA. By last year, that number had dropped to just 54%. LIMRA’s research also revealed that 30 million American families lack life insurance, and another 30 million more are underinsured. That is a tremendous gap that leaves far too many families at risk. More>>
No one would say going through a pandemic is easy or recommend it as a best business practice. Yet, it happened. To everyone. Our world changed, and it didn’t always feel like “we’re all in this together” as we sheltered in place and clients wouldn’t step foot in your office or in your seminars.
Yet despite everyone’s collective and individual struggles, many MDRT members found spaces to rebuild and realign. They saw areas for improvement or revision that may have always been there but could now be seen better. To help you see some opportunities in your business, read what MDRT members from around the world had to say about how they changed their business during the pandemic. More>>
Many Americans do not have nearly enough life insurance to support their families’ needs. In fact, about 44% of families say they would face financial hardship in six months if the primary wage earner were to die, noted David Levenson, president and CEO of LL Global, in a recent video presentation. Now, a group of life insurance organizations is aiming to change that. More>>
I help my clients understand the difference between financial planning and quality-of-life planning. I focus on dignity, not insurance products. Quality-of-life planning focuses on four key components. More>>
To combat a negative social media campaign against the COVID-19 vaccination program, the American Council of Life Insurers (ACLI) is pushing the message: Getting a COVID-19 vaccine will have no bearing on whether a U.S. life insurance company will pay a policyholder’s life insurance claims. More>>
American Council of Life Insurers (ACLI) Senior Vice President, Policy Development Paul Graham issued the following statement on social media misinformation relating to COVID-19 vaccines:
“A social media post appears to be behind the spread of entirely false information, suggesting a COVID-19 vaccine could be a factor a life insurer considers in the claims-paying process.
“The fact is that life insurers do not consider whether or not a policyholder has received a COVID vaccine when deciding whether to pay a claim.” More>>
Why advisors should focus on this important client subset.
Women today are more highly educated and financially empowered than ever before, but evidence suggests that their financial planning needs are not being met. More>>
Many people wonder if single people need life insurance.
It’s easy to believe the answer is “no.” After all, the main purpose of life insurance is to provide cash to your family if you were to pass away. So, it seems logical to think you don’t need life insurance if a spouse or kids aren’t depending on your earnings.
However, there are definite times when single people need life insurance. Here are some of the most common reasons to consider life insurance if you’re flying solo. More>>