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Have You Planned For Long Term Health Care?
When was the last time you needed medical care?
We all require health care at some point. Hopefully it's just for a broken bone or bad virus. It's no fun being sick but luckily these ailments generally only keep us down for a few days or possibly a few weeks.
Have you ever given it any thought what you would do if it were something much more serious and it required daily care? News Sentinel.com has published a great article about the 3 questions to ask yourself about long-term care.
Long-term care should be included as part of your overall retirement plan since it generally funds your end of life care. It has been found that a retiree's main concern is not out living their savings but how they will pay for the health-related expenses.
The top three things to consider are:
1. Do I Have A Plan? - Most people don't have a plan but everyone needs one.
2. Where Do I Want To Live If I Need Extended Care? - 78% of people want to stay home and receive care from a loved one.
3. Who Will Pay For My Care? - Most people have 4 choices, receive care from a loved one, pay for the care out of pocket, use Medicaid benefits or use an insurance policy that was purchased from a professional.
Because anything can happen at anytime it is important to not only have a plan but to discuss this plan with your loved ones. It will be easier on your loved ones to to take on the responsibility to decide your wishes when you let them know what you want.
To Read The Full Article, Click Here
Shaw American has 4 companies that offer long-term care policies as well as riders on universal life policies that can used for long-term care expenses. Contact our marketing department today at (800) 626-5888 or email@shawamerican.com for more details or a quote. |
Estate Tax Refunds For Same Sex Couples To Be Offered In New York
Last month's Supreme Court decision in U.S. v. Windsor held section 3 of the Defense of Marriage Act to be unconstitutional. As a result of the decision, New York State issued Technical Service Bureau Memorandum TSB-M-13(9)M to explain the effect of the decision for New York estate tax purposes. Estates of the same sex spouses are entitled to claim the same deductions and elections as different sex spouses including the martial deduction for all years open under the state of limitations.
Affected tax payers may amend any previously estate tax returns when the state of limitations to apply for a refund still remains. Typically this is three years from the date the taxes where filed or two years from the date the tax was paid. To amend a return, taxpayers should file Form ET-706.
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 Does Your Client Need A Reason To Buy GUL? United of Omaha's Accelerated Death Benefit Rider Give Them 250,000!
Why is it Important to Your Client
The Accelerated Death Benefit Rider for Terminal and Chronic Illness (may vary by state) is available at no additional cost when your clients purchase a Guaranteed Universal Life policy and pays living benefits up to $250,000 if your client is faced with a terminal or chronic illness, regardless of the issued risk class. The living benefit could help pay expenses your clients many not have planned for during an unexpected illness.
What Your Client Should Know About The Rider
- Policies issued with a substandard risk class will still have the rider included
- The client can accelerate up to $250,000
- The remaining death benefit must be equal to or greater than $50,000
- For terminal illness, the benefit will be paid in a lump sum
- For chronic illness, the benefit can be paid in lump sum or can be put on deposit for payment as long as the money is available
- There is a $100 charge when the rider is enacted
- Features may vary by state, refer to the product guide for full details and any state variations.
Click Here To See All Guidelines
Contact our marketing department at (800) 626-5888 or email@shawamerican.com for a quote. United of Omaha also has table shave like program known as the The Fit Program which will allow your clients credits up to two tables. The credits are given for your clients healthy lifestyle, such as preferred driving record, college education and high net worth. Click Here For Full Rules & Questionnaire |
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What Makes A Good Insurance Agent?
Here are some great tips to consider when you are meeting with a client.
Perception - Perceptual contrast. Offer them something ugly at the beginning so then when you offer them the 'normal' offer they perceive it better than it actually is.
Don't Push - Learn how to take no for an answer. Don't be too pushy; you're still not going to get anywhere after the third no!
Understand Their Values - Make sure you take the time to understand what the prospective client considers value, and then it will be much easier to diagnose how to make the sale.
Be Consistent - While it's great to hear "superstar" stories about employees that go above and beyond for customers, the most powerful tiebreaker in today's marketplace is consistency. If customers know that no matter who they deal with in your company, they will receive the same level of great service every single time, that's the most powerful differentiator there is.
Research Clients - Research every lead or introduction so that you have a running start and can shape your approach mentioning specific points about that firm and how you might be of service to them. The most effective approaches have some element of specificity to the prospective client's situation obtained through basic research.
Immediate Quotes - When possible, quote over the phone or same day. Independents can use the comparative rater to enter information and provide preliminary quotes right over the phone. My close ratio is over 50 percent using this method.
Handwritten Notes - Send handwritten notes - not just to your biggest clients and not just after the sale. With all the electronic communication today, a handwritten note lets your client know you care enough to take the time to write and mail the note.
Click Here For Full List
We want you to be successful! Give us a call today at (800) 626-5888 or email@shawamerican.com and let us know how we can help you. We can assist you with these tips and many others. |
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Important Company Information |
John Hancock LTC to Introduce Gender-Distinct Rates in 5 Additional States: Effective July 29, 2013, total states affected will be 41... |
John Hancock has been moving to gender-distinct rates on its individual LTC insurance policies, reflecting the male/female differences in the probability of benefits usage. This effort began in the Compact states on April 29, 2013. On July 29, 2013, five additional states will move to gender-distinct pricing: Arizona, Delaware, New Jersey, Nevada, and South Dakota. |
If you have questions contact someone in our marketing department at (800) 626-5888 or email@shawamerican.com. |
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Introducing The Enhanced Care Benefit Rider
The Enhanced Care Benefit Rider (ECB) provides an additional benefit that allows the policy owner to accelerate up to 90% of the death benefit, which can be used to help pay for ongoing care if the insured develops a prolonged illness. The Enhanced Care Benefit Rider (ECB) will be available on all MetLife Whole Life Promise policies starting September 2, 2013.
In addition the following changes will also be made to:
The MetLife Whole Life Promise
* New design to have competitive internal rates of return (IRRs) on cash value and competitive long-term income distribution.
* Income streams at retirement ages will significantly increase, in many scenarios by upwards of 80.00%.
* Premium rates to increase approximately 5.00% to 20.00%.
The MetLife Whole Life Promise 120
* New design to be the most affordable product in our whole life portfolio with competitive IRRs on death benefit.
* Premium rates to increase approximately 1.00% to 6.00%.
* Non-guaranteed cash value IRRs will generally decrease by 0.20% to 0.60% in years 20 to 30.
Click Here For Full Details and Transition Rules
Contact our marketing department today at (800) 626-5888 or email@shawamerican.com with any questions regarding The Enhanced Care Benefit Rider. |
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Moody's and Comdex Upgrade Prudential
At Prudential, maintaining the financial strength of our company is always a focus. It is a key component of the value that we bring to our business partners, our customers, and our stockholders. Therefore, I'm pleased to communicate an exciting announcement from Moody's and the resulting Comdex rating.
Moody's recently upgraded both The Prudential Insurance Company of America and Pruco Life Insurance Company to A1 from A2, as well as the senior debt of the holding company to Baa1 from Baa2. They also indicated that their outlook on our rating is stable.
According to Moody's, "The upgrade of Prudential's ratings reflects the company's improved financial profile and capital position, as well as the steps the company has taken to reduce financial leverage and maintain ample liquidity at the holding company."
Another result of this upgrade is that our Comdex rating has increased to 90 from 89. For those not familiar with Comdex, it is a weighted percentile of the 4 major rating agencies - AM Best, S&P, Moody's, and Fitch, calculated by Ebix Exchange. A Comdex of 100 signifies top ratings from all 4 agencies. Comdex is commonly used by firms as criteria for choosing policies to present to their customers.
Click Here For Official Announcement |
Principal Announces Reprice of its Survivorship Universal Life II: Effective July 29, 2013 | |
New SUL Protector II premium rates will be effective July 29, 2013. In general, single- and short-pay rates will see the greatest increases, with rates for level-pay scenarios having smaller increases. To receive current (1/2013) rates, applications for SUL Protector II need to be received in good order in the home office by July 26, 2013. |
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JOIN US - UPCOMING WEBINARS AND CONFERENCE CALLS |
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Living Benefits Can Help Drive Sales Webinar
August 14, 2013 @ 11:00 Pacific
Join our webinars to learn how Living Benefits can help drive sales
You may have already heard the buzz about Transamerica's Trendsetter ® LB-term life insurance with Living Benefits. Many life insurance professionals are calling it "Life insurance for the living" and "Old term vs. New Term." Trendsetter LB offers valuable protection for chronic, critical and terminal illness as well as non-med options up to $249,999. Living Benefits plus death benefits in one simple solution-what a great story to share with clients and prospects!
Now is your chance to learn more about how Trendsetter LB can help grow your sales.
We're offering two new webinars that will take you through everything you need to know to sell this unique term product.
Click Here to Register |
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Want to vacation with Shaw American!!! Just write a combined target premium of $75,000 in 2013 and you can join us! We will be traveling to The Royal Cancun in February 2014 for an all inclusive vacation. We don't want you to miss this!! Call us today for quotes on any cases that you are currently working on or let us take a look at your past business to see if we rewrite a case for a better rate. |
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Shaw American Financial Corp.
Phone: 800.626.5888
Fax: 888-329-7429
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