Two of the biggest Insurance Marketing Organizations (IMOs), AMZ Financial Insurance Services and Partners Advantage Insurance Services, today announced their definitive merger to further enhance and extend their insurance distribution network. The new company will be called Partners Advantage Insurance Services. The merger went eﬀective March 1, 2018, with the companies planning to fully integrate by September 30, 2018.
Due to changes in market conditions, the life insurance industry has experienced a number of cap and participation rate reductions in recent months. While these changes have become common, it is important to note that not all carriers handle them the same. In some cases, carriers maintain caps for both new business and in-force, but in others, a carrier may lower caps on existing policies in order to keep higher caps on new policies to attract sales.
I’m often asked, “What is the best indexed universal life insurance policy?” The appropriate answer is not as simple as naming a manufacturer and their newest product. If I were to rephrase their question, I think it is best to ask, “How should I select a life insurance product for my client, and what key factors should I consider?”
There are many cash-value life insurance products for clients who are focused on protecting their loved ones, wealth accumulation and tax-free distributions. The differences between these products can significantly impact the wealth accumulation potential of the policies. Let's examine the various cash-value products available and determine the best life insurance product for this purpose.
When I think of a retirement plan, the first thing that comes to mind is often the accumulation of assets and investing strategies. As a fiduciary investment advisor developing and implementing retirement income plans for my clients, I’d argue that investing is the easy part of the process.
You may have seen some pretty large industry movement in decreasing cap rates at carriers, especially in regards to Indexed Universal Life insurance (IUL). It seems like this is an industry wide issue and “carrier chatter” is really heating up across the board.
As advisors, we often look at clients solely through the eyes of an illustration. We assume what a client looks like today will continue into eternity, instead of realizing that life changes over time. One example of this has to do with clients being able to afford higher contributions to an indexed universal life insurance (IUL) policy in the future than what they can afford today.
The Tax Cuts and Jobs Act is in the books. It may be seen as a benefit to individuals as well as some business structures. It’s best to discuss with your clients how they can take advantage of the new changes.
The selling landscape has changed. Going door to door and cold calling to sell financial products is not as effective as it once was. So what should financial advisors and agents do to increase their sales?