Your Practice – Crump Blog

The Connelly Decision’s Impact on Business Succession Planning

4 Oct

Crump's Insight Podcast featuring Jon Whitacre

Without proper succession planning, execution of that planning, and following the directives set forth, even the most basic estate or business transition can become an adventure and attract scrutiny from the IRS. In this timely episode, we welcome Jon Whitacre, JD, CLU, ChFC, and director of Advanced Sales at Crump Life Insurance Services to explain why Connelly vs United States is so important to financial professionals, life insurance professionals, and clients. He offers solutions to avoid what happened in this landmark case. Podcast>>

Charting the course of life insurance

27 Sep

Young woman standing outside leaning on her car reading a map.

September, of course, is Life Insurance Awareness Month. While this designation invites us to revisit the state of life insurance at this time every year, this year — more than most — warrants that attention. More>>

Don’t let life insurance be the pumpkin spice of client financial planning!

20 Sep

Guest contributor Ron Bernas is digital content manager with Crump Life Insurance Services.

What does life insurance have to do with pumpkin spice?

What is the right season for talking about life insurance with clients? Is life insurance the pumpkin spice-flavored product in your portfolio? Let’s hope not! When discussing financial planning with clients, the question of when to introduce life insurance often arises. Is there a right season to discuss this critical aspect of their financial security? The answer is that it’s always the right season to talk to clients about life insurance options. More>>

The impact of state-mandated long term care insurance on your clients

23 Aug

Rick Stewart photo next to a mobile podcast image and two earbuds.

With Medicaid costs skyrocketing, states are taking action, mandating income taxes to provide for state-funded long term care insurance programs. This action will have a significant impact on the choices clients have for covering their long term care needs. In fact, some states are considering banning private LTC insurance in lieu of the state option. In this timely episode, Crump’s Rick Stewart provides an update on which states are currently considering this action, and what you can do to serve your clients before it’s too late. Podcast>>

16 assumptions that cause advisors to lose clients

9 Aug

Older man waving goodbye as he walks down a hallway.

Today, many client relationships involve managed money or asset-based pricing. Advisors are paid regardless of how often or infrequently they are in touch with clients. Because professional money managers are involved, the client’s assets might even grow without advisory intervention. The bond between the client and the advisor is much weaker when communication drops off.

Let us look at 16 things some advisors assume, wrongly, about their clients. More>>

Single mothers: A growing, yet often overlooked, market segment

26 Jul

Young, single mother and her son sitting on the wood floor making faces at each other

The annual LIMRA and Life Happens U.S. Insurance Barometer Study has expanded over its 13 years, enabling the analysis of many different demographic groups. Life insurers should acknowledge and react to the changing face of the American family and ongoing demographic shifts to remain attractive and viable to as many potential customers as possible. More>>

8 steps for winning with younger clients

19 Jul

The past several years really opened the eyes of many consumers. The pandemic and post-pandemic reality forced many people to look hard at their current health situation and well-being, as well as thoughts of longevity and security. The need for and importance of being covered and protected has especially resonated with the millennial and Generation Z demographics. Now is a perfect time for financial professionals to connect with, educate and establish long-term relationships with younger clients. More>>

3 techniques to help retirees spend more (yes, more!)

5 Jul

Many working Americans live by a simple financial mantra that says saving is good and spending is bad. In the real world, things are more complicated, especially for those who have accumulated substantial wealth. Advisors can deliver a lot of value to retiring clients by easing their fears about spending.

Jamie Hopkins, managing partner of wealth solutions for Carson Group, says there are many ways for advisors to help their clients feel comfortable spending. Still, there are three methods in particular that he has found to be the most powerful. More>>

Are you missing out on 10% or more of the population as clients?

28 Jun

Guest contributor Michael Rusk, senior vice president, internal sales and administration at Truist Life Insurance Services.

With an increasingly diverse population, it’s important for financial professionals to expand their client base. The LGBTQ+ population is an underserved demographic. While financial planning is now in step with straight couples, there are specific challenges that the LGBTQ+ population faces. In this episode, Michael shares his personal experience and professional insight. Podcast>>

The LGBTQ+ market: A rainbow of opportunity

14 Jun

Guest contributor Tim Harper, supervisor, sales development specialist at Crump Life Insurance Services.

Shares insight into the LGBTQ+ community and whether you are potentially missing the rainbow of life insurance opportunities this community offers. More>>