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Governor Rick Perry has issued a proclamation declaring September Life Insurance Awareness Month (LIAM) in Texas. The nonprofit LIFE Foundation coordinates this yearly observance to remind Americans of the need to include life insurance in their financial plans.
The observance of LIAM in September is coordinated annually by the nonprofit Life and Health Insurance Foundation for Education (LIFE). Visit lifehappens.org/life-insurance-awareness-month for more information and to access a planning toolkit.
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Many tools are available to help producers promote Life Insurance Awareness Month in their communities. Below are links to several resources from the LIFE Foundation and LifeHealthPro.com.
Producer e-Kit
The LIFE Foundation's LIAM Producer e-Kit has the resources you need to be successful during September:
- Marketing pieces featuring the story of Buddy 'Cake Boss' Valastro, master baker, reality TV star, and this year's LIAM spokesperson
- Free downloadable flyers and embeddable videos
- Sales ideas
- Social media content plan
- ... and much more!
Producer Webinar
Visit www.lifehappens.org/replayliamwebinar to watch a replay of the recent LIAM Producer Webinar (duration is 1 hour).
The webinar features five top agents who share their best LIAM sales ideas that have helped them connect with clients and prospects, schedule more appointments, and close more sales.
Life Insurance A-Z Poster
"LIAM is definitely a grassroots movement that relies on industry practitioners to spread the word." Read what Brian Anderson has to say about LIAM, and snag a free copy of Life Insurance Selling's A-Z Poster which breaks down some of the terminology most confusing to consumers. |
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NAIFA-Austin, NAIFA-TX Gulf Coast, NAIFA-Corpus Christi, and NAIFA-Great Southwest are among a small group of prestigious local associations in the federation that have achieved the Jack E. Bobo Award of Excellence for 2011-2012. NAIFA-Austin and NAIFA-TX Gulf Coast renewed their status from the prior year as "Platinum" award winners, while NAIFA-Corpus Christi received "Gold" and NAIFA-Great Southwest "Silver."
The award recognizes associations that excel in areas critical to their success and growth over a one-year period. Those areas are member benefits, advocacy, membership and governance. It honors Jack E. Bobo, CLU, FLMI who served as NAIFA's president and executive vice president and also received the prestigious John Newton Russell Award.
Local association leaders will be recognized for their achievements during the NAIFA Conference in Las Vegas next week.
NAIFA-Austin (left) and NAIFA-TX Gulf Coast (right) accepting their awards last year.
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Over 50 Texans will be traveling to Las Vegas this week for the NAIFA Career Conference & Annual Meeting September 8-11. In addition to the usual lineup of speakers, educational workshops, and networking opportunities, delegates will be tasked with voting on several proposed bylaws changes.
The first proposed bylaws amendment would change the NAIFA Board selection process to provide for the recommendation of a vetted slate of candidates for the positions of Trustee and Secretary. The second proposed bylaws amendment would give the NAIFA Board the sole authority to set national dues, and the third proposed bylaws amendment would increase national dues by $15.00. Additionally, a resolution has been proposed seeking partnership agreements between the national and state associations.
The proposals have generated heated discussion as of late, with state associations voicing opposition and past NAIFA presidents falling on both sides of the debate. NAIFA-Texas weighed in last week, calling for the internal development of a strategic plan using current financial resources. The full letter can be read here.
Texas delegates will also visit with Keith Gillies, CLU, ChFC, CFP and Juli McNeely, CFP, CLU, LUTCF, who are vying for the position of NAIFA Secretary. To learn more about the candidates, click here.
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Claims arising out of transactions involving more than one agent can present additional risk of an E&O claim. Consider the case where an agent enlisted the help of another agent to cash out a client's existing life insurance policy in order to purchase a new variable life insurance policy.
Agent #1 asked Agent #2 to complete the application because of her relationship with the broker dealer. The life policy Insured was Agent #1's client. Agent #2 agreed to do this for Agent #1 because she had known Agent #1 for a long time. In the course of the transaction, Agent #1 directed clients to transfer funds to him. Only 70% of the funds made it to the new policy and the remaining funds are unaccounted for. The clients claimed the actions of Agent #1 caused the cash value of the new policy to erode at an accelerated rate, and the new policy to expire prematurely.
Agent #2, along with her broker dealer and the life insurance company, were sued for damages in excess of $100,000 along with Agent #1.
Risk Management Tip:
Activities that place your license, contracts and reputation at risk should never occur unsupervised. Tasks left to others should be supervised and confirmed. When dealing with an actual joint case, it's important to develop a checklist of activities. Make sure the responsibilities of each agent are understood. Assumptions should never be made regarding completion of activities and most importantly, make sure the other agent has E&O coverage.
For more information about CalSurance and/or to apply online, visit www.naifaeo.com or call 888-833-2304.
Additionally, save 10% on your premium by completing a new online risk management course available exclusively to NAIFA members. The course is free, or pay a nominal fee to receive CE credit as well. For more information, visit naifamember.smartpros.com.
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INDUSTRY NEWS HIGHLIGHTS |
| 2012-2013 NAIFA-Texas Sponsors | |
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