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Your Life Insurance Agent Lied To You!

Your Life Insurance Agent Lied To You!

Don’t you just hate it when someone, anyone, lies to you for any reason? As the DOW plunges again today I’m sure one of the two biggest financial lies is running through a lot of minds, “It always comes back”. It’s just our opinion that in the whole scheme of things, while that seems to have held true over the history of the stock market, saying that it will always co...
Who Would Raise Life Insurance Rates More Than 50%?

Who Would Raise Life Insurance Rates More Than 50%?

The answer that pops into our head in the super competitive life insurance market is a company that doesn’t want to sell any more life insurance, or more specifically in this case doesn’t want people to buy any more of one product until they can get it off the market. Genworth Life and Annuity, formerly First Colony has found themselves holding a term life insurance conversion product...
Enriching Our Children Is Not Our Job!

Enriching Our Children Is Not Our Job!

Inheritance? I suppose it is a practice that went back as far as people. There, unless your children are a pain, is usually a desire to leave something behind and for good or bad life insurance has been touted as a giant band aid for those of us whose lives didn’t go well enough to leave piles of gold and jewels. The flip side of that are the bumper sticker crowd who are “spending thei...
No Life Insurance Late Payment Notice? What Is Protective Thinking?

No Life Insurance Late Payment Notice? What Is Protective Thinking?

We get customer service. It’s a good thing where you go out of your way to make sure things work out satisfactorily for a client. That’s why life insurance companies send out late payment notices during the grace period to make sure that a customer didn’t miss their statement which could lead to an unplanned lapsed policy. I was talking to a Protective Life insurance client, reti...
Do You Know Your Term Life Insurance Conversion Option?

Do You Know Your Term Life Insurance Conversion Option?

We used to play dominoes when we were young, kind of a fun game. We would stand them all on end in some intricate design and then tap the first one and watch joyfully as they all fell. We are currently witnessing a real live domino effect with life insurance companies scrambling for a way to knock over their domino. For years these companies have offered their most competitive lifetime guarantee...
Term Life Versus Guaranteed Universal Life! What’s The Difference?

Term Life Versus Guaranteed Universal Life! What’s The Difference?

The quick answer is really nothing other than the length of the guaranteed coverage period. Term life insurance can be guaranteed for as little as 1 year and as many as 30 making it an excellent planning tool for probably 95% or more of all life insurance needs. With younger clients we almost always suggest a 30 year term for the simple reason that, well, when we’re young we really aren̵...
A Better Way To Do Senior Life Insurance Continued!

A Better Way To Do Senior Life Insurance Continued!

In a previous post we made the case for why almost all seniors shouldn’t buy their life insurance from final expense or senior life insurance companies. Those are companies whose entire block of business is made up of small final expense and burial life insurance policies. The almost never require an exam and in a lot of cases the just issue policies because you send money, not asking any he...
The End Product Of Life Settlements Is Life Insurance At Risk!

The End Product Of Life Settlements Is Life Insurance At Risk!

This is a subject that has gone from a peripheral nuisance 10 years ago to having a wide ranging impact on the way we do business today. Being in impaired risk with the bulk of our clients being moderately to highly rated when they buy their policies, we have had to add to our discussions about the aspects of their life insurance that the life settlement lure may come their way one day. A small he...