Current working partners have to find a way and method of buying out a deceased or permanently disabled member. A well prepared Buy-Sell agreement prepares for this possibility. Once again, insurance is the most secure funding method.
ATMs revolutionized banking more than 25 years ago and today online banking is now commonplace. And, now a new banking product, remote deposit, is being utilized to greatly improve business efficiencies, particularly for busy independent agents.
Independent agencies are not like many other businesses. They have unique cash management opportunities. A bank that recognizes this difference will offer a variety of specialized products, competitively priced, to help agents facilitate cash management and maximize value. Here is what you should be looking for….
Cash-value life insurance has a substantial savings or investment element that can’t be ignored entirely if the tax laws are to operate fairly. So life insurance is subject to special rules regarding federal income taxation, and a separate set of rules regarding the federal estate and gift tax. The following is a summary of the…
Students of insurance are sometimes dismayed to discover that there are no fewer than four basic kinds of whole life insurance: traditional (participating and non-participating), universal, variable, and variable universal, with many variations and hybrid forms as well.
Any general discussion of life insurance should begin with the observation that the life insurance industry in the United States has been transformed over the past 30 years or so. The climate of extremely high interest rates in the late 1970’s and early 1980’s made the “savings” or “investment” element of many existing forms of…
Term insurance policies have always been a popular product. The premiums involved seem to make people feel that it is the ideal solution to their insurance needs. The belief is that needed coverage is given at affordable prices. There is little thought given to “initial premiums” versus “future premiums.” That is one of the major…
Viatical settlements, or accelerated death benefits, were controversial products developed in the 1980s following publicity for the AIDS epidemic. There were touted as a means for terminally ill patients to get money from life insurance policies to pay for medical treatment or other “bucket list” activities. Others viewed them as opportunistic and unethical.
Many insurance agencies have found it easy to increase revenue and services offered by adding life and health insurance to the agency portfolio. Numerous prospects already in the agency client list have been overlooked for many years. This short series of articles shows you how you can improve retention and the agency’s bottom line. The…
Many insurance agencies have found it easy to increase revenue and services offered by adding life and health insurance to the agency portfolio. Numerous prospects already in the agency client list have been overlooked for many years. This short series of articles shows you how you can improve retention and the agency’s bottom line. The…
