Guidelines of Creating Revenue Via Life Insurance
EduTrainer Steve Savant coaches you through the basics of creating cash value build up in life insurance contracts. Edutrainment Workshops: The Essentials for Life Insurance – cash value build up
Over the last decade I have not written a life insurance case for a non-qualified supplemental retirement income scenario on a male — only females within the family. All things being equal, female COIs are considerably less when compared to their same age male counterparts. But with married couples, the majority of sales scenarios, all things are not equal. Females are statistically younger and are more likely to secure a better underwriting offer than males. Female COIs just cost less. Therefore, the female is the insured.
The next step is designing your proposal at the onset with the minimum non-MEC death benefit and reducing the death benefit to the DEFRA corridor as soon as the TAMRA guidelines allow, generating an improved net rate of return during the accumulation period.
The tactical use of level or increasing death benefit depends on the scheduled annual premiums; seven years or less — level death benefit and 12 years or more — increasing death benefit. There are exceptions to the five pay scenarios that may allow increasing death benefit .You’ll need to beta test both death benefit options between eight and 11 years to determine the lowest COIs. There are reasons for this, but not for this article.
Indexed universal life has four fixed or variable policy loan options: zero net cost loans, wash loans, spread loans and arbitrated loans (participating.) I try not to use the phrase participating loans because of the confusion with participation whole life policies and especially direct recognition loans.
My first choice is always zero net cost loans — the charging and crediting of the same rate generally 30- 60 days apart. But I’m often forced by competition to use arbitraged loans. In that case, I insert a huge disclosure that caveats the worst distribution scenario of the last decade — where the S&P was in 2001-2003 and 2008 — to illustrate the real loan impact, whether you use variable or fixed policy loans.
This really matters during the income years. We all use look back crediting rates for our proposals. You better start looking back at the last 10 years for distribution scenarios
Life Insurance Basic Entry Manual: Order- firstname.lastname@example.org
Download Lincoln Benefit Life’s user friendly proposal software and follow Steve Savant as he teaches the basic concepts of life insurance at www.lblsales.com/etw EduTrainment workshops is sponsored by Lincoln Benefit Life, An Allstate Company
Top Seven Life Insurance Companies For 2014
Life insurance is quite a large business niche, so there are no shortage of good companies. Still, the best life insurance companies are ranked by several entities according to quantitative and qualitative analysis, and many of the top companies show up on several lists. The following are the top seven life insurance companies for 2014.
1. State Farm
State Farm provides a wide variety of insurance vehicles for people, including life insurance. They are known for their exceptional policies all the way around, and MSN Money gives them an A++ rating overall, noting exceptional value and financial strength of the company.
A company’s financial strength is definitely important when it comes to claims handling. This company has been around for a long time, and the only category in which State Farm lacked a star was customer service, though it still received a solid four stars.
2. New York Life Insurance Company
New York Life Insurance Company is another household name that provides many financial and insurance vehicles. This company is the strongest financially out of all the companies, and this is one reason why it comes in at #2.
3. USAA Life Insurance Company
This company is based out of New York and is also considered one of the best life insurance companies. USAA provides insurance vehicles to military members and their families, which has helped them gain the public’s trust. They are noted for their claim handling and customer service.
MetLife, while having a four star rating over all, comes in at number four. Expert analysts give MetLife an A+ rating for financial strength and value. Like State Farm, they too were given four stars for customer service.
Prudential is known as “The Rock,” and they have been providing life insurance policies for years. This is a company that not only has one of the best ratings but is very balanced. Across the board, concerning value, financial strength and customer service, this company ranks in between 4.5 and 5 stars.
6. Jackson National
Jackson National has an overall rating of 4.5 stars. While this name is widely-known, it’s not as known as say State Farm or Prudential. Still. this company was given an A+ rating and is actually #2 on MSN Money’s top life insurance companies list. For purposes of ranking in this article, it comes in at number six.
7. Northwestern Mutual
If it weren’t for the four stars in customer service, this company might actually top the list. Of course a few other companies still have a longer track record than Northwestern Mutual, who was given an A++ rating. With an overall 4.5 stars, it rounds out the top seven life insurance companies for 2014.
Everyone’s needs for life insurance are going to be different so your best bet is to get multiple life insurance quote from a website like www.waterwayfinancialgroup.com. While these ratings rank the best life insurance companies for 2014, you might find one of them caters to you better than another. A simple example would be your choice of one besides USAA if you are not a member of the military or a family member of someone who is or was enlisted.
How Important Is Life Insurance Overall?
People find it hard to view life insurance as a necessity. There are other bills that must be paid, and life insurance isn’t bringing about any immediate benefits, or so it seems. In this rough economic climate, people are trying to pinch pennies at every corner. It can be difficult to consider purchasing a new life insurance policy, and those who have one have most definitely considered canceling their policies at one point in time. Whether you are debating on getting a life insurance policy or debating on keeping your current policy, think about the consequences. Especially if you are the bread winner in the household, your decision here could make all the difference when it comes to whether or not your family is provided for if you pass away.
You Need Life Insurance
In this sense, it seems that life insurance is a no-brainer. What happens if there is a sudden accident that takes you away from your family? How are they going to pay the bills? There are going to be bills for living expenses, final death expenses and most likely medical expenses as well. All these expenses are on top of the fact that your family is now mourning your loss. Considering all the facts, life insurance is one of the most important purchases a person can make when looking out for family.
Getting a life insurance policy from InsureNow365 can do more than just get a family through. They can allow a family to breathe and not worry about money during a time of loss. In other words, there is a cushion there during the mourning period. People have a misconception that life insurance is too expensive. Sure, there are expensive policies out there up for grabs, but there are also affordable policies without all the hassle. All you have to do is decide what type of insurance you want and the amount of coverage.
Tips To Avoid Financial Ignorance
Financial ignorance is one of the biggest mistakes that can be made by those who want to remain on top of their budget. It is important to remain on top of personal finances before they begin to cause a lot of damage that could have been avoided. Being financially literate is essential in the modern age for those who do not want to be engulfed by money problems. Most individuals start blaming their destiny when it comes to financial issues, when it has to do with personal negligence on their part. This piece will pinpoint financial tips that should be kept in mind to avoid financial ignorance.
Let’s begin with payments that have to be made on time. For those who are in any kind of debt, payments should be made regularly without fail. This can be a minimum payment, but it should be made. Those debts will not just disappear and things will simply worsen as the interest begins to accumulate. Late payments are a major problem for people and even a small debt can become a problem in the short and long-term. Always look to focus on the credit card debts first and then move from there. The interest can start to pile up in a hurry.
If there are multiple debts in place, focus on those that have the highest interest rates. This is usually the credit card debts, but this does not have to be the case for everyone. Pinpoint those interest rates and see what the payment plan encompasses. Always try to speak with the creditors and get a payment plan that suits your finances.
Most individuals will aim to go with payday loans to take care of their debts and that is not recommended unless the situation is dire. The loan for this will be worse than anything that is already requiring payment. This is an extreme choice that should be left until the end, when all other avenues run dry.
Financial freedom does not come from becoming literate, it becomes from becoming free from debt. Focus on spending frugally in the future and take care of those debts first and for all. Extra expenses can start to pile up in a hurry.
Use these tips and watch as financial ignorance becomes a thing of the past and those debts are paid off.