People are having good way to make their family happy. Everybody needs to get protection. We don’t know what will happen in our children. We will not be with our children all time and all days. We better choose the protection for your children and family. You can choose to prepare insurance for your children and other family. There are various insurances that offered to you. You can get education insurance for your children. It can protect their education needs until they finish their education level. It is good to support the education for your children. Your children will need it. Second, you can get affordable health insurance family plan. Health insurance is good to protect your family.

Everyone has their own ideas about what health insurance is so cheap that everyone wants the best coverage. Depending on your age, your health and your habits in the decision to pay much more or much less than other people who you know. Neighbor can obtain insurance through a particular business is very cheap. You go to the same agent with the assumption that you can get the same rate. They believe that you are a smoker, as well as a few years older, and you suddenly get a quote that was twice what he paid. It doesn’t seem plausible.

We need to have healthy condition and we hope that we always in good condition. It is just prevention that you can take. You often in bad financial condition and you haven’t money to do all things. When you get accidents at that time and you need fast help and you need big bill, you must be stress. You need fast money. When you have insurance, you can get protection. You don’t need to think about the money to pay all things. You should not think that taking insurance is always expensive. You can also take cheap family health insurance. It is cheap and good protection.

Insurance agents all over the U.S. right now are under fire because Insurance marketing is not working and most insurance agents blame the economy.

The insurance agent struggles to get new insurance leads and their home office is not letting up on the quotas for production. And the biggest challenge of all is the combination of a perceived down economy, the lack of ways to get new insurance leads and the pressure of the agents home office all equates to less money for the agent.

Traditional ways of getting new insurance leads and growing an insurance agency just do not work. And it is futile to get into the we have got the lowest price wars because this is what pigeon holes agents into believing they provide a commodity and confirms the inaccurate perception to the public that the insurance services provided by the agents is a commodity.

So what should smart agents do in an economic environment like today? And is insurance marketing a ‘dead man walking?’

The answer is a resounding ‘No’, but at the same time insurance marketing must break from the clutter of all the marketing messages bombarding prospects and if the agent wants to get something different in terms of better results in today’s economy, then the agent must do some things different.

The easiest place to start to differentiate yourself from the insurance agent struggling to survive is to look at what you have been doing ….and STOP! I know that sounds simple, but to continue to do what used to work even though it no longer works is wasted money.

But also, don’t be like the agents who are no longer in the business. They were not smart enough to look at the marketing lessons from the past and discover that it is wisdom to stop doing the marketing that does not work, BUT you NEVER stop marketing. Because when you stop marketing you have started the bugle playing Taps.

What type of marketing should you do?

The answer is marketing that is emotional, compelling, riveting, and engaging, and yes you can do that with any product or service and especially in the insurance market.

One easy way to be engaging is to tell stories or triumph and tragedy and paint the prospect into the story so that they can experience the emotion of the story without having to go through the challenge of the story. And in fact, insurance agents often can simply share some of the stories about claims that happen in their agency and explain how insurance either did or could have helped.

Another key is to make sure that you are contacting your prospects in ways other than just a sales motion. You can provide value by doing things that makes their life more convenient. And this could be as simple as sending out voice-broadcasts when you hear about a great deal on pizza from a local business or letting them know where the lowest gas prices are located. You can discover this information by simply taking 10 minutes searching online.

The insurance clients love this type of service because you are providing a way to make their life more convenient. Remember Small things really do make big differences.

So ask yourself this question on a daily basis What else might you be able to provide to add convenience to your clients, but you can get for free?

Insurance agents who want to get more insurance leads and retain their clients will love the results of starting these simple, easy, but extremely effective systems.

I hope these tips have been helpful for you and inspire you to continue and grow your agency.

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Get the Best Quotes from Top Rated Life Insurance Companies

Life insurance protects your family in case of your death, providing a death benefit that can pay off the house, cover college tuition, pay medical and funeral costs, and help the family stay solvent. Because life insurance is so important, you want to make sure you get the best quote from a top rated life insurance company.

Get the Best Quote

To get the best quote on your life insurance, follow these tips:

* Decide what kind of life insurance you want. The two main types of life insurance are term and whole life. Term is less expensive because it’s life coverage only – when the insured dies the beneficiary receives the face amount of the policy. Whole life insurance combines life insurance with an investment component. Part of your premium pays for the insurance, while the rest is invested.

* Buy insurance when you’re young and in good health, especially if you want term life insurance. As you get older your premium increases.

* Don’t use tobacco. If you do use tobacco, quit.

* If the insurance company requires a medical exam, schedule it for morning. Your blood pressure, cholesterol, and stress levels will be better then.

* If possible, apply for your insurance toward the end of a quarter or year, when insurance companies are trying to reach sales quotas.

* Comparison shop. Rates for the same life insurance coverage can vary greatly, so check several companies. The best way to comparison shop is to visit an insurance comparison website where you can get quotes from multiple companies. On the best of these sites, you can chat with insurance professionals online who will answer your questions (see link below).

Choose a top-rated company

Once you have rate quotes from several companies, you want to research the companies so you can choose a top-rated company. The Internet is a great source for investigating the ratings of insurance companies. Two of the better sites to check a company’s rating are:

A.M. Best (ambest.com)

A.M. Best rates insurance companies based on their ability to pay claims, their credit rating, and their ability to pay it’s debtors and stockholders.

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Your State’s Department of Insurance

All States have a Department of Insurance website and most list complaints filed against insurance companies. If your state doesn’t list complaints, you can go to the California Department of Insurance website – www.insurance.ca.gov – to get this information.

Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get the best quotes from top rated life insurance companies and see how much you can save. You can get insurance tips in their Articles section.

The risks factors in critical illness insurance may be greater than that of life insurance. Reinsurance of critical illness insurance may be a solution to eliminate some of the financial loss an insurance company might incur. The procedure may take place through quota share or an excess of reinsurance. Let’s have a look at some of the factors important for the reinsurance of critical illness insurance.

There had been difficulties in assuming the incidence rates. So, the critical illness premiums values may be readjusted or reviewed depending on the magnitude of the loss made by the company. Insurers and reinsurers may then avoid premium guarantees exceeding five years. As a matter of fact, if the insurer decides to increase the critical illness premium rates, the reinsurer also might have to share an equal proportionality in these increases.

Furthermore, reinsurance might be used by insurers in the critical illness segments where they have less experience. For example, small life insurers might choose to follow a trend for their critical illness products dissimilar to that of their pure life products so that they would have to suffer less. Moreover, if the critical illness insurance is a prepayment, the insurer and the reinsurer may be required to have an equal involvement concerning both life and critical illness risks. Otherwise in case of a doubtful critical illness claim, problems might crop between the insurer and the reinsurer.

For example if the insured died due to a heart attack, the fact that the critical illness was in rule with the policy definitions may remain unclear. As said before, the insurer and reinsurer may have to share the life and the critical illness risk equally. If that’s not the case, both parties might then have the idea to either make the claim a death claim or a critical illness claim. This may depend on the cause of the claim. Thus, the loss whether it be a root of critical illness or life may affect both insurer and reinsurer at the same rate.

According to Munich Re, This can easily be achieved with a quota share reinsurance agreement. For example, the insurer might reinsure 30 percent of its life and prepayment critical illness business. In case of a reinsured policy with USD 200,000 life sum insured and a critical illness acceleration benefit of 50 percent, the reinsurer may pay USD 30,000 (30 percent of 50 percent of USD 200,000) upon critical illness and another USD 30,000 (30 percent of [USD 200,000–USD 100,000]) succeeding death, or USD 60,000 (30 percent of USD 200,000) if death occurred first.

As per Munich Re, if the reinsurance is carried out on a surplus basis, it may be advisable to fix only a retention for the life risk. The critical illness risk may then be reinsured in the same proportion as the corresponding life risk. For example, the insurer might want to retain all life risks up to an amount of USD 50,000. A policy with USD 200,000 life sum insured and 50 percent prepayment in the case of critical illness would be reinsured as follows: The excess of USD 150,000 over the life risk retention, i.e. 75 percent of the total sum, could be assumed by the reinsurer. The critical illness risk may then be reinsured in the same proportion. In the case of a critical illness claim, the reinsurer may pay out USD 75,000 (75 percent of 50 percent of USD 200,000) and another USD 75,000 (75 percent of [USD 200,000–USD 100,000]) on subsequent death, or USD 150,000 (75 percent of USD 200,000) if death occurs first.

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The Agents

We have read news over the years on the unethical practices of insurance agents or financial planners. Like every industries in the economic system, there are bound to have blacksheeps among the good ones.

This article is about the unethical “professionals”.

Lorna Tan, Senior Finance Correspondent from the Straits Times, was probably the most hated during the times of AIA’S Critical Year issues in 2003. I could hear AIA agents cursing her openly in public for the articles she wrote which somehow spoilt their businesses.

The professionalism and ethics of our agents are questionable. Unscrupulous agents will do anything they can to meet their monthly targets (the minimum set by AIA was 1 case per month though it may varies among the Agencies), or perhaps higher career targets like Premier Agent, MDC or MDRT, and as for Centurion…unethical practises are unlikely to bring them to that level.

The practices

You may have notice advertisements in The Newpaper with headings like “Do you need more cash? Please call xxxxxxxx”, “Fast cash?” etc..some of these could have been put up by others though commonly used by insurance agents.

All you need to do is to bring down your latest CPF statement for your “appointment” with the advertiser a.k.a the agent not limiting to AIA agents in this case. The agent will then checked the balance in your CPF statement and proposed to invest your CPF monies in their ILPs, the agent will take a cut of 3% on ILP, meaning a $45,000 CPF investment will yield the agent a commission payout of $1,350 and that’s pretty good money. The agent will then part a portion of their money to you as reward (that’s why the tagline “Do you need more cash?). Use your CPF to exchange for cold hard cash.

Theoretically speaking, you have nothing to lose in this transaction since your CPF is invested to make more money and at the same time you are paid cash by the agent for your investment (only after the application has been approved by the Company).

Cons: Who cares about how your CPF investments performed after all you have already collected your money, any loses are just parts of the market cycle and fund’s performance.

The agent will pay your premiums

45% payout in commission for the sale of Whole Life policy is really lucrative. If you were to pay $300 per month for your premium, the agent gets a cut of 45% which amounted to $135. Should you choose to pay annual premium instead, say $4,000 per annum, 45% will amounted to $1,800.

The agent takes $1,800 (yearly premium) for that sale or $405 (3 months premium). That is not too bad for a deal.

The desperate agent who needs to hit his target or to earn his income is willing to part some of his money for those reasons.

The agent will take all your monies

Another unethical practice by the agents, again not limiting to AIA agents, is to ask a passer-by if he has any CPF, this is a direct approach commonly used years back (not sure if this is still one of the favorites now).

Using the CPF interest rates as comparison to the returns on ILPs, creating a big contrast in future income, though this is not unethical since the customer has to be educated and not everyone of them are finance savvy, but the closing of the deal isn’t ethical. Using top performing funds, the agent brings along his fund fact sheets which show the graph and trend movement of his hot funds, he could impress the customer with the growth of these funds, citing reasons like the fund has never gone down since the day of it’s inception, as for which fund, you have to find out yourself.

Selling without the proper procedure of Financial Needs Analysis or completing the PFR, the agent is ready to sell as opposed to the Financial Advisers Act, Chapter 110 Act 27, in short FAA.

Experienced agents will be able to close on the spot.

Interested investor will be brought directly to the CPF board near them (they usually canvas near the CPF board, a spot outside the train station but walkable distance to the CPF board.) to print their 15 months statements.

After a check on the statements, the agent will proposed to use all the CPF funds from Ordinary accounts and Special accounts for investment. The most ridiculous incidence I have came across happened to a man in his mid forties, he was told to invest but doesn’t know how much he should, he left it to his agent to decide. He was told to sign the application forms without much questioning, but the time he found (when he went to the CPF board again to check his statement), he was left with slightly more than $1 in his CPF accounts. The agent took everything. Like many others, he was closed on the spot.

Some clever agents use a nearby printing/copying centre which provide facsmile service, they are able to get their colleagues in the office to fax over the sales illustration without having to travel back to the office (this is useful to them in case the customer changes his mind).

A cunning customer may ask for rebates in return but the occurrences are much lower.

Next month

Closed a deal, got a new customer but the agent will not submit his application. This practise has a lot of limitations and will apply to a few situations only.

The agent has hit his quota for the month and it’s just a few days before the cut off date, with a few extra cases on his hands, he has the ball in his court. The agent will wait for the new window before submitting his cases; in that case it will be easier for him to hit the upcoming quota and he kick starts the month will a part of quota fulfilled.

But that’s risk taking, should the client involves in an accident or situation whereby he will to claim from his policy. There is no record at the HQ reflecting his policy, either the agent tried to squeeze that policy in immediately, but he will be queried about the delay, or the he tried making excuses to the client to avoid making claims for him, the client may becomes furious and lodge a complaint to the Company, the agent will be queried for that.

I have written enough, be careful of unethical and unprofessional agents, but there are plenty of good ones around, shop around, compare not only the policy but also the services of the agent who wants to serve you.

Ex-FSC

http://madeconomies.blogspot.com/

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Normal 0

Article – One Farmers Insurance Agents Experience Working for Farmers.

Copyright 2008 by Mr. Pickles

All rights reserved, including the right of reproduction in whole or in part in any form.

Right now you are debating whether to start a career with Farmers Insurance. You are so excited at the thought of owning your own business. What a wonderful opportunity. How can you start up your own business in America for almost no money? Your District Manager has told you and shown you that there is no better opportunity in America than a Farmers Insurance Agency to develop your own small business. And they will pay you a subsidy of up to $1,500 per month for expenses. What an amazing deal!

Please keep an open mind, and read for yourself what a former Agent of two years has to say about Farmers. At the end of this article I have links to documentation showing that I exceeded my quotas, was a hard working, successful Agent, and still ended up being let go from Farmers Insurance.

The Farmers group of company’s are actually a pyramid scheme, or Ponzi scheme, where only the District Managers and the heads of the company make money, the Agents just get knocked down, and I’ll explain to you how this happens.

Of course, their are a few Agents in each District that are successful and are making the six figures that your District Manager is promising that you will make, but these agents are only ‘show pieces’. Nine out of ten Agents work 18 hour days, sign up their network of friends and family, cold call for new business, then are eventually rooted out, having their clients that they brought to Farmers given to those few successful ‘show piece’ Agents, and the rest to the company itself (the District Managers). This is so the company does not have to pay the commissions to the Agents. This way the Farmers Company makes more money.

I’m sure your District Manager has told you, “after the first year, you’ll earn between $35-$50k, then it doubles after that, and then you’ll hit six figures after two or three years. After two or three years, you’ll be earning six figures, or close to it on renewals alone.” Please listen to me when I say that this is complete B.S.

Farmer’s requires that in order for you to convert from a ‘reserve agent’ to a ‘career agent’ that you sign up 30 or 40 clients (depending on your contract). These 30 or 40 clients are typically your friends and family, because they are the easiest people to persuade to sign up. Then once you turn to a career agent, you are told that the World can be yours. This is where the pyramid scheme begins.

For me, within three months, I had converted to a career agent and was doing great. I had brought in over $125,000 in New Business Premium to Farmers. Within’ six months I had brought in over $225,000 in NBP. I put 75 hours per week into my agency, and at the suggestion of my District Manager, I poured my life savings into my agency. The District Manager said that for every dollar I spent on marketing, I would get two dollars back with the Return On the Investment that I would be getting. Needless to say that this ROI was not true, and now I am broke and on the brink of declaring bankruptcy.

Just see how your District Manager reacts when you ask them about the ‘running to daylight numbers’ that you have to make. This quota is virtually impossible to hit, and if you don’t hit it, you owe back all of the subsidy that Farmers gave you! Farmers is a pyramid scheme because they get the business of your 30 or 40 friends and family that you signed up, then slowly squeeze the life out of you until you end up broke and have to pay them back.

I’m not just some dead beat who couldn’t hack it. As I stated previously, I have documented, proven track record of my sales. Farmers sets their agents up to fail. This way they make more money, because they don’t have to pay commission to the Agent. The only ones who get rich are the District Managers and the executives in the company such as Tom Hopkins.

Don’t walk away from becoming a Farmers Insurance Agent, RUN AWAY AS FAST AS YOU CAN. I swear in the end you will make more money flipping burgers at McDonalds.

I spent $2,000 per month on advertising at the suggestion of my District Manager, I hit my sales quotas and now I’m in debt to Farmers for over $6,000, and I brought in over a $250,000 in premium to them. In the end, I spent over $18,000 on trying to grow my agency, and now I owe Farmers $6,000! I think you would agree that this is not a ‘wonderful’ opportunity.

If you don’t believe me, click on this link below, and read testimonies of the thousands of former & current Farmers agents. This link connects you to the United Farmers Agents Association. Look around this forum. You’ll see what I’m talking about. Save yourself, your relationship with your family and your sanity and don’t join Farmers Insurance.

Here is the link to the United Farmers Agents Association. http://www.ufaa.com/phorum/read.php?1,1685

Here is the link to documentation that shows that did in fact hit my quotas and actually won a few awards for the amount of production that I brought in.

Http://www.farmerssacramento.com

If you would like to read further, please purchase my book about how my debt, family problems due to the amount of time and energy I put into my agency, and the loss of my agency has lead me to thoughts of suicide. This book is NOT just for Insurance Agents. This book will help any small business owner who’s business has failed. You can find my book here:

It will be published within the next few months. It will cost $9.99 and $14.99. I am not sure yet on a set price. Please leave me a message on Articlebase, or email me at nibnub@gmail.com to pre-order your book. Thank you for your support. You will find comfort in this book, and this book will console you and be your support group that you can turn to each and every day.

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As a travel insurance salesman one of your main concerns would be to at least achieve your travel insurance quota if not exceed it. To achieve success you need to take the help of tips from those who have been through the grind and who have learned a few things that can put quite a substantial sum of money in their pockets each and every month.

The key to success lies in understanding what the correct way of selling travel insurance policies is because without some tips to show you the ways forward you just will not succeed in doubling your income. For most travel insurance sales reps the question that is uppermost in their minds would be whether they too can earn substantial income from selling travel insurance to people.

The unquestionable truth is that if you are a person selling travel insurance policy you must be quite confused and even after spending years in the business this confusion may still be thwarting your efforts to be successful in getting people to buy travel insurance in big numbers.

To ensure a better chance of success you need to understand that the client is your passport to a great life and so you have to treat them with utmost respect. Unless you show how much you care for your customer you just cannot expect to become a successful travel insurance salesman.

This means that you must ensure that all the promises made your insurance company in their brochures and also in the billboard advertisements actually become reality for the customer. This is the only way that you can get a customer to purchase your travel insurance policies. In fact, meeting your travel insurance quota numbers should be likened to making hamburgers for those who like to eat at fast food joints; or, it is similar to manufacturing widgets.

You must sell your travel insurance in a manner that eases the pressure from your shoulders that your superiors will apply to get you to make more sales and that too immediately. This means doing more than leaving your business card with the customer or calling to confirm an appointment. You can get some results through these means but these methods are not in them enough to help you earn the big money.

You should therefore plan your selling strategy differently and in this it does help if you act in a manner that is sensible and which improves your chances of affecting a sale. Sometimes, it helps to make use of certain software that teaches people like you the right way to make an impressive sales pitch and which also helps you to present your case with suitable illustrations as to what benefits the client gets by purchasing your travel insurance policy. You must make your presentation simple concise and the focus must be to ensure that you do and say things that ensure that your customer gets your message in an easy to understand manner.

Learning these tricks is a surefire way to meet your travel insurance quota and also exceed it.