October 27, 2016
Family Business Succession Strategy 
Why Your Clients Should Have One 

According to the Conway Center for Family Business, "Family-owned businesses are the backbone of the American economy. Studies have shown about 35 percent of Fortune 500 companies are family-controlled and represent the full spectrum of American companies from small business to major corporations." 

While any advisor should prioritize speaking about a succession plan with their client, it is important to specifically highlight a succession strategy when speaking to your entrepreneurial clients. By capitalizing on the opportunities presented in the link below, you are not only diversifying your skill set, but improving the financial portfolio of your clients and protecting their legacy. 

Answered Questions 
To the Genworth and China Oceanwide Deal 
Genworth Logo

After approximately two years of review, China Oceanwide Holdings Group Co. agreed to buy Genworth Financial Inc. for $2.7 billion, creating a greater and more certain value to stockholders than the company's current business plan. 

China Oceanwide is a privately held, family owned international financial holding group with a well-established and diversified business portfolio that includes financial services and insurance products in China, as well as real estate assets globally. China Oceanwide has also committed to contribute $1.1 billion in additional cash to support Genworth's efforts to restructure their business. 

Genworth will be a private company, better positioned to continue to focus on key operational priorities. These include executing our multi-year LTC rate action plan, which is essential to stabilizing the financial position of the legacy LTC business, supporting the financial foundation, and building mortgage insurance (MI) and LTC businesses. For more information regarding the future for Genworth and China Oceanwide, refer to the FAQ link below. 

Life Insurance: Denied  
3 Reasons Clients Need to Review Their Medical Records

While the process of obtaining life insurance can fill up your checklist, it is important to recognize one significant detail. Whether it was a prescription that was never filled, a procedure recommended but never discussed, or an error made in the transcription process, millions of Americans are mistakenly affected each year because of inaccurate medical record keeping and documentation. Fortunately, prevention is key to ensuring that your clients' medical records are corrected and up to date. 

By getting their medical records updated, clients can save money on life insurance premiums, or go from no coverage to full coverage. Most importantly, encouraging your clients to have updated records can:

1. Save Clients' Lives.
2. Save Clients' Money.
3. Avoid Clients From Being Denied Life Insurance Coverage.  

See Ya Snoopy 
MetLife Launches New Platform                                       
After 31 years as the face and pup of MetLife Inc., Snoopy has retired from the insurance industry. MetLife has now launched a new global brand platform labeled, "MetLife. Navigating life together." 

Beyond a new logo and tagline, MetLife is making substantial changes to its customer interactions. In result, the MetLife brand is looking to impact all customer touch-points, from the website to customer service to its sales process, to ensure a more focused and simplified customer experience. 

"We are embarking on a journey to upend the long-entrenched norms of the insurance industry. We are focused on humanizing our industry and designing every customer experience to reflect the modern company we're becoming," said Esther Lee, global chief marketing officer of MetLife. 

For Free

The TBA Mobile App was designed to give advisors the ability to be more efficient while away from the desk. This app has all of the tools needed to create sales as well as process paperwork more efficiently. It can be downloaded on your phone or tablet. It is available for download for free from the app stores of appleandroid and kindle.
Available Tools Include:
  • Instant Term Quotes 
  • Online Application 
  • Needs Analysis
  • Licensing 
  • Direct Dial TBA Employees
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