Join Silverside Insurance as they cover the benefits of term and universal life insurance.
To young couples in the midst of wedding planning, looking into life insurance policies may seem a bit less romantic by comparison. However, what better way to demonstrate your love than by making a commitment to protect each others’ futures should the worst happen? It seems an obvious investment to make for couples who are promising to spend the rest of their lives together, but according to the National Association of Insurance Commissioners (NAIC), of the 71% of newlywed couples who recognized they need life insurance, almost half of them put the conversation off until after they exchanged vows. Newlyweds looking to start their lives together often have many questions about policies, products, and if they even need life insurance. Luckily, SilverSide Insurance Marketing is here with the answers!
Oftentimes, selling life insurance can be an uphill battle. Many clients worry that a life insurance product will tie them down to fees they don?t want, or that some policies will limit their freedom. In truth, though, by selling life insurance, you are selling your clients freedom, by giving them the security and peace of mind they need.
Welcome to another Power 3 Product Review! This time we’re going to be reviewing some of the top rated term life insurance plans available on the market, and looking at how trends have changed with Aaron Udell.
As life insurance marketers, we see it every year. Sons and daughters come into SilverSide in exasperation because Grandma went and did it again! Aside from looking both ways, we have a few words of advice for grandma before she steps into the road- during the holidays or otherwise
Taking Action Before Reindeer Impact
Several of the life insurance agencies we work with, such as Assurity and Sagicor, offer easy-to-obtain term life insurance policies that are customizable for anyone. Term Life insurance policies are always a safe and secure way to go when it comes to first-time life insurance clients or clients looking to expand their life insurance package. Every Term Life product provides coverage at a fixed rate for a closed period of time. It is the least expensive kind of life insurance because the insured has all of the control. This is a great benefit for families and individuals ages 18 to 65. Explore the SilverSide repertoire of products from our favorite insurance agencies here! [Read more…]
With an aging population and the rising costs related to health aging issues, several studies consistently show that most Americans have no plan and little savings to properly address these issues. When recommending products for your clients with long-term care and chronic illness riders, details are everything. ?There have been many studies done on this subject, recently, the MillMan report, that details the 7702(B) rider sometimes called Long Term Care Riders or 101(g) often referred to as Chronic Illness Riders.
SilverSide Insurance Marketing has outlined quick points of CI and LTC and made some recommendations on what an agent might consider when placing these products in their portfolio.
First, it is important to understand the differences between LTC and CI. Generally speaking, if you want a simple, higher death benefit, less restrictive product, then a CI style may fit. Conversely if maximum leverage for health issues is the goal, LTC style designs will accomplish this goal. ?While both designs usually have tax advantaged benefits, the differences lie in the types of qualifying claims, ease of use, benefits, and how the riders are charged. As insurance professionals, it is our job to understand these differences and articulate them to you so you can offer your clients the best possible solution.
CI Quick Points:
- Almost all permanent life policies have some sort of Chronic, Critical or Terminal accelerated death benefit.
- Generally Chronic Illness benefits are from the existing death benefit, and do not create a separate pool of money. Most, if not all, life insurance products issued now have some sort of Chronic, Critical, or Terminal levels dedicated to the death benefit acceleration.
- The best Chronic Illness Riders will actually accelerate the death benefit based on easy triggers such as 2 of the 6 ADL requirements!
SilverSide Insurance Marketing recommends the CI Riders that are offered by Sagicor and EquiTrust on their Single Premium Life contracts. ?These CI Riders offer the richest benefits, are extremely useful and are simple and straightforward to sell.
LTC Quick Points (Specifically LTC Linked to a Life or Annuity Contract):
- LTC products tend to give higher leverage your money, but that pool of money is often more restrictive in how it can be used. Be sure to examine the entire rider in depth so you understand the terms of that particular product.
- While the richest Chronic Illness Riders tend to be cash benefits on easy triggers, LTC Riders tend to be more restrictive with reimbursement style benefits.
- For clients interested in maximum dollar leverage, and willing to work with a more complex and harder to use design, the LTC platform can fit.
SilverSide Insurance Marketing recommends Genworth?s TLC Product, One America/State Life?s Asset Care Series, and Lincoln?s MoneyGuard products.
You have to take care of your clients, so let us take care of you. If you are interested in learning more about these products or joining the SilverSide family, give us a call at 480.400.7171 or send us an email at Info@SilverSideInsurance.com.