While most Americans are only familiar with the standard way of receiving health benefits, small religious communities have cared for each other outside the traditional healthcare system for decades. The idea of health sharing dates to the Middle Ages when craftspeople entered guilds to protect...

Staying aware of new opportunities and evolving risks is a proactive way for insurance agents to ensure their continued success in 2025. Each new year comes with a wave of changes, whether from our global economic market, regulatory action or possibilities brought to life by technological advances....

Selling insurance is your livelihood, and you work hard to deliver excellent service to retain your clients. You also make strong efforts to market yourself so you can attract new clients and grow your business and income. With the high-value assets of high-net-worth individuals (HNWIs), there is...

In addition to helping clients protect against financial risks and safeguard their livelihoods, life and health agents are also responsible for maintaining the privacy of their clients’ protected health information (PHI), including treatment histories, biometric identifiers, personal information...

Generation Z, aged 18 to 27, is growing up; the youngest are starting college, while the oldest are a few years into post-grad life. With the many responsibilities that come with early adulthood, finding insurance coverage is one of the most important lessons to learn right away. Understanding...

Cybercrime is on the rise, and small-to-medium-sized businesses (SMBs) are prime targets. Further, the insurance industry is a favorable target because it hosts a large database of sensitive information on the agents, clients and companies it employs and with which it partners. Managing the risks...

As the baby boomer generation reaches retirement age in ever-increasing numbers, there’s a corresponding increase in sales opportunities for trend-savvy insurance agents. The United States Census Bureau notes that by 2030, all baby boomers — a group defined as those born after World War II from...

Artificial intelligence (AI) is all over the news, but it’s still a concept not universally understood. According to IBM, AI is, “…technology that enables computers and machines to simulate human learning, comprehension, problem-solving, decision making, creativity and autonomy.” Like the...

Insurance agents enjoy many job perks, including flexibility, steady income growth, job security, and work freedom. They also get the satisfaction and reward that comes from directly impacting others’ lives. However, before they can achieve this, they must first make some investments to succeed....

The insurance industry is growing, and employment opportunities remain wide open. If you’re passionate about helping people, personable, adaptable and determined, you have the makings of a great insurance agent. While you don’t need a college degree, meeting the qualification standards...

When considering a new career in a new industry, selling insurance is appealing to many people with a wide range of experiences. In contrast to many other jobs in the financial sector, insurance can be a good way to break into the financial industry without requiring an expensive, time-consuming...

Many insurance agents devote a lot of time and resources to pursuing new customers, thinking it is the best way to grow quickly. In reality, this is not the case. Yes, adding new business is essential to growth, but it costs seven to nine times more to sign a new client than to maintain a...

The COVID-19 pandemic seems simultaneously like a distant memory and an ever-present topic, but no matter how you currently feel, it undeniably changed people’s outlooks on life in a number of ways. In one particular sense, many reflected on their lifestyle choices and financial safety, leading...

Quick response codes, or QR codes, have become an extremely popular tool for many organizations to streamline digital accessibility and communication with potential clients. Numerous industries have figured out creative and effective ways to use this tool to cater to consumer desires for quick and...

When clients contact you, their trusted insurance agent, they expect to receive expert advice regarding their insurance concerns and important updates on insurance industry changes that could impact them and their coverage. If you mistakenly provide erroneous advice — due to a misunderstanding of...

Working as a freelancer brings a lot of flexibility to work that many people would never give up. The ability to say "no" to tasks that aren't worth the time, the rewards of building relationships with new and existing clients, and the different opportunities that mean no two days...

What if you were overlooking one of the easiest ways to expand your business? Basic telehealth has been around for a long time, and by now, most insurance agents have decided if they want to utilize it as part of their businesses. However, the simple truth is that telehealth has grown by leaps and...

Healthcare costs are straining businesses and individuals, making short-term and long-term healthcare difficult to afford. Many consumers do not visit their healthcare professionals as often as they should because they fear the final cost of even simple procedures. Those of us in the insurance...

What if your insurance company was constantly losing ground to the competition, and you didn’t know it? Right now, the biggest trend in the entire industry is the rising prominence of Insurtech. Investing in this technology is an investment in the future of your business. Despite this, many...

Are you in the insurance industry and want to stay competitive? We'll walk you through how embedded insurance is changing the entire industry as you know it. In the insurance industry, the old saying is especially true: the only constant is change. Embedded insurance is changing how the...

Are you in the business of selling life insurance? We’ll walk you through the changing life insurance landscape and how to modernize your entire business. What if Everything About Your Business Was Constantly in a State of Flux? That’s what it feels like to the average insurance...

When you work in insurance long enough, you’ll eventually get hit with the same question repeatedly: When will you hang a shingle of your own? Many of the best insurance agents don’t want to be agents forever. Instead, their long-term goal is to open their own insurance agency. However, it’s...

Are you looking to strengthen your business this year? Then it’s time to get serious about innovating your insurance agency. This article provides a running start. There’s never a wrong time to innovate, especially for insurance agency leaders whose industry is experiencing...

As we move into the new year, take this opportunity to analyze your business and set goals for your insurance agency. And take a look at your mindset. Using a growth mindset can help your business’ progress. Every new year, whether we want or like it, we face an onslaught of well-intended...

As an insurance agent, you want the best for your clients. Providing exemplary service increases the likelihood of word-of-mouth referrals. But there is so much more you can do to guarantee business growth with thoughtful and researched tactics. Insurance agents can develop ideal client personas...

Are you a new insurance agent hoping to learn the ropes? We’ll walk you through the most important things you need to learn to succeed immediately. 6 Lessons New Insurance Agents Need to Learn Right Away What if you had no choice but to hit the ground running with your new job? If...

The last thing you need is a lawsuit. Here are some pointers on how to avoid E&O claims.  Most insurance agents will never get sued. But a few will because they either did something wrong or failed to do something important. For those agents, litigation’s negative impact can be...

Want to take your insurance agent book of business to the next level? This article will help you get started. Growing your insurance book of business is something most insurance agents and agencies desire. And why wouldn’t they? The benefits of getting larger are plain to see: With...

To succeed in sales, you must be well-educated about the human condition. Watching TED Talks for insurance agents will help you get there. Professional development is a way of life for insurance agents. Between completing the product knowledge and compliance courses your carriers provide and the...

REPRINT WITH PERMISSION OF MARSHALL DENNEHEY How does an Insurance Broker avoid liability? My husband, who is a broker, would say it is having an attorney for a wife, but all brokers cannot be that lucky. Seriously, here are a few tips that can keep a broker out of hot water: Document...

Artificial intelligence (AI) has changed many industries, and insurance is no stranger to AI these days. The question is, how has it impacted agents and consumers and will it lead to significant changes? Artificial intelligence (AI) and automation rest on a simple concept: They refer to computers...

The effect of inflation on insurance agents has been profound this year. Need tips for managing the crisis? You’ve come to the right place. Inflation is the elephant in the room for the insurance industry. Rapidly inflating prices have strained consumer budgets, increased the cost of creating...

It’s easy to break into insurance sales but hard to succeed at it. A slow and steady approach should produce a better outcome. Becoming An Insurance Agent Takes Planning If you’re considering becoming an insurance agent, you’ve probably begun to think and research the question of how long...

When clients have losses, your client claim advocating can spell the difference between creating a satisfied client or a litigious one. Below are tips for avoiding the latter. Insurance is an intangible product until there’s a claim. Then, it becomes acutely tangible. If a claim submission goes...

Success as an insurance agent takes work. Read on to learn about common challenges. Investopedia says more than nine out of ten life insurance agents leave the industry in their first year. The property-casualty insurance business also has dismal agent retention. Why do so many new producers fail?...

You never know when your first— or next— client lawsuit will happen. But errors & omissions (E&O) insurance can shield your assets against it. You became an insurance agent to help people, make a good living and run your own business. You didn’t become an agent to become...

Networking is critical for any insurance agent looking to grow their business. Below are a few networking tips and ideas to help you connect with more people in your industry. Networking can assist with building relationships with potential clients, referral partners and other professionals in your...

Are retirements decimating your insurance agency? Here’s how to find some great young replacements. Half of the insurance employees working today are planning to retire over the next 15 years, leaving 400,000 job vacancies in their wake. What’s more, the independent property-casualty...

As a small business owner, you will frequently need to show that you have liability insurance. Enter the Certificate of Insurance (COI), a short document demonstrating you have enough insurance protection. Conversely, people who seek to work with or for you must show you their COIs in order for you...

Insurance agents typically must complete 24 hours of continuing education (CE) credits every two years. Here’s how to make this process as simple and easy as possible. To enter the insurance industry as an agent, you must pass a licensing exam for every product line you wish to sell. Once...

As an insurance agent, you’re primarily a sales professional. But you must also follow accounting best practices to track your business finances. You didn’t become an insurance agent to spend a lot of time on accounting. But to succeed as a producer—to build a sustainable business—you...

If you’re planning to sell your business, watch out for the E&O coverage gap. Here’s how to protect yourself. In Part 1 of this series, we discussed two possible ways of exiting your business at retirement: selling your entire company or only your book of business. As discussed in Part 1,...

Taking good care of your clients after the sale will unlock years of future revenue. Learn how to do it here. Insurance agents used to view sales and customer service as distinct activities. Since selling directly generates commissions, producers often gave it priority over customer service, which...

Are you an insurance agent getting ready to retire? If so, it's time to consider whether to sell your entire business or just your book of business. The insurance business is experiencing a sweeping generational shift. Tens of thousands of agents are reaching retirement age. Many want to leave the...

Want to become an insurance broker? Then follow this simple process to achieve a rewarding and sustainable career. As someone interested in selling insurance for a living, you’ve probably considered the advantages of working as an agent vs. as a broker. Guess what? You are off to a great start!...

Technology has revolutionized the lives of insurance agents and their customers. But for some financial needs, connecting with a knowledgeable human advisor is the best option. The benefit of technology for insurance agents is easy to see. Over the last decade, thousands of agents have become more...

Do you plan to continue selling virtually in 2022 or increase your activity? Then here are some ways to get ready. The global pandemic ushered in a brave new world of virtual insurance selling. Since early 2020, agents have learned how to approach prospects, assess needs and close sales without...

As an insurance agent, you have many goals that reach beyond making sales and growing your revenue. Your customers rely on you to recommend the proper insurance to protect their personal or business interests. But have you ever considered how growing your revenue and meeting your customers’ needs...

As an insurance agent, closing sales is where the rubber meets the road. But using closing techniques that don’t alienate prospects is essential. Consumers line up to buy the latest smartphones. But they often delay purchasing insurance for as long as possible. Their procrastination may be...

Finding new potential clients can be the most difficult part of the job for many insurance agents. We know this is true for even the most established agents. Here we provide a summary of 4 common types of strategies to help you generate new leads, including Referrals, Networking, Purchasing Leads...

Marketing an insurance agency isn’t a simple task. Start with these five essential tips and build from there. Marketing your insurance agency is a challenge these days. With so many strategies and tactics out there, it’s challenging to know what to do next. Start with these basics and then add...

Millions of insurance agents are transitioning out of the business. Will there be enough young agents to replace them? Yes, but they must work hard at becoming successful. It’s a well-documented problem that insurance agents are aging out of the business, and not enough younger replacements are...

With the challenges of pandemics in the modern healthcare system, employers are being forced to consider possible changes to insurance programs, including surcharges for employees that remain unvaccinated. The COVID-19 pandemic has created a financial burden for the U.S. healthcare system. With an...

Earning your insurance agent license is just half the battle. Now you need to protect it against state suspension or revocation. Here’s what to do. Sometimes the allure of easy money overcomes good judgment. That was the case for a New England insurance agent. Instead of doing the hard work of...

Are you planning to become an insurance agent? If so, you need to learn how to earn your agent’s license and then keep it in force. The insurance business is one of the most highly regulated industries in America. Agents, brokers, public adjusters, and others must comply with state or...

Have you paid your dues as a captive insurance agent? Then you may be ready to go independent to better serve clients. Insurance sales professionals face two choices about how to do business: operate as a captive agent or become an independent agent. Both business models have distinct pluses and...

Selling insurance is a rewarding career, both in terms of finances and personal satisfaction. But it also produces a lot of stress. Read on to learn how to manage it. Unless you watch TV all day and sleep all night, stress is an unavoidable part of life. However, thanks to the unique demands of...

Successful insurance agents don’t generate high sales volume by accident. They do so because they channel their personality traits and behaviors in productive ways. What distinguishes successful insurance agents from those who lag behind? There are many answers to this question. But one of the...

Want to have an immediate positive impact on your bottom-line performance? Then implement our top tips for retaining more insurance clients. Many insurance agents invest more energy in acquiring new customers than in keeping them. That’s unfortunate for two reasons. First, it costs more to bring...

E&O insurance not only mitigates risks, it helps you pursue sales opportunities. Proof of insurance can be a sales tool for winning more business. Insurance is one of the most important elements of personal risk management. It protects people’s lives, cars, homes, incomes and more. That means...

Insurance agents often face a pivotal decision after spending a few years in the business: remain captive or go independent. Here are the pluses and minuses of each career path. Insurance sales careers follow a common pattern. Recruits often enter the business as career or captive agents for a...

Most experts agree competing on price is not sustainable in the insurance business. A better approach: stressing value. Price competition is the norm in today’s insurance industry. Insurers, agents and brokers and online quoting sites promote how easy it is to get prices and how the least...

If you’re running your agency using paper forms and manual procedures, it’s time to consider the benefits of using a computerized insurance agency management system (IAMS). For the right person, selling insurance may be one of the world’s best jobs.   It gives agents the ability to define...

A technology wave is cresting over the insurance industry. Will agents ride it successfully or wipeout? Few analysts think the insurance industry is headed toward obsolescence. Its numbers are just too good: It provides jobs for 2.9 million people. It generates $9 trillion in cash and...

For the right person, selling insurance is the perfect career opportunity. It offers high-income potential, job security and a sense of purpose. Read on to learn more about this field and how to enter it. The insurance industry is one of America’s most important economic engines. It provides...

Disappointed clients often look to the legal system for relief. Fortunately, as an agent or broker, you can mitigate your risks through E&O insurance and sound business practices. In life, when expectations don’t sync with reality, problems often ensue. This is especially true in the world of...

Insurance agents are flocking to social media platforms as a way to grow their businesses. If you’re ready to join in, check out our best practices here. Although agents and consumers got off to a slow start using social media for insurance purposes, they have accelerated greatly in recent...

COVID-19 has produced a surprising upside: a surge in new business formation, especially of small firms. Are you ready to capitalize on this insurance sales opportunity? Every cloud has its silver lining, goes the old adage. Even the cloud of a global pandemic that has killed more than 500,000...

If you’re hoping to break into the insurance sales business, developing a sustainable lead-generation system is job one. Get important advice here. One question keeps new insurance agents up at night: “Where will I find leads?” All agents face that question, of course. But “newbies” have...

Has your customer service become more virtual in the wake of the global pandemic? If so, here are some tips to take it to the next level. The COVID-19 pandemic has fundamentally transformed insurance sales. It has turned a field that traditionally relied on face-to-face interactions into one that...

There are many sources of insurance agent E&O insurance. But only one provides the NAPA Advantage. Many insurance agents think errors and omissions insurance is a commodity purchase, with all policies offering the same protection. However, nothing could be further from the truth. Not only can E&O...

Have you embraced virtual selling or resisted it? Are you experiencing good results from it or are you unhappy with your experience? Read on for guidance on how to use remote selling to your advantage. The insurance industry has entered a brave new world of virtual selling. Thanks to new...

Remote work has become increasingly popular these days. But don’t try it without first analyzing its pluses and minuses, along with the legal and insurance implications involved. Millions of Americans worked from home as a safety measure during the pandemic. But working remotely is far from new....

Not all insurers are created equal. Admitted carriers may provide greater financial protections than non-admitted ones. Complete your due diligence before you decide. As a purchaser of E&O insurance for your business, you face a key decision: do you solve for low price or high quality? If you...

Are you a little fuzzy about E&O insurance for insurance agents and financial/investment advisors? No worries...read our crash course on what it is, how it works, and why you need it Imagine this hypothetical scenario: You’re a life insurance agent with several years’ experience. You approach...

The “graying” of insurance distribution is an existential crisis for the industry. If you’re approaching retirement age, you can be part of the solution by developing a succession plan. Philosophers often claim that character is destiny. In the insurance industry, experts say demographics...

Insurance companies today are experimenting with direct-to-consumer (DTC) sales. Frustrated? Don’t be. Just learn from their experience and revise your business model and marketing approach accordingly. Imagine that your father brought you into the family business in a sales capacity. He trained...

Self-funded healthcare plans don’t have the luxury of reacting to COVID-19 costs in the next plan year. They must adjust to them now. Here’s how you can help them. The COVID-19 pandemic has had an unprecedented impact on American society, especially on social relationships, employment and...

E&O claim prevention often focuses on laws, regulations and business practices. Dropping the ball in these areas can spark lawsuits. However, if you run your business by the book, the presumption is you’ll easily ward off litigation. To some degree, this assumption is true. But it’s missing one...

As an insurance or financial professional, you want to ensure that your clients have the right coverage. But it’s also important for you and your business to be protected, as well—especially from various liabilities that could arise. That comes with choosing the right Errors and Omissions (E&O)...

Need prospects? Then consider targeting people who either find their own work or participate on a gig platform. You’ll find they have gaping holes in their insurance safety net. More people are working in freelance jobs today than ever before. These include so-called gig workers on platforms...

More Americans are working in the freelance/gig economy these days. There are pluses and minuses, including flexibility and financial insecurity. The latter creates big sales opportunities for insurance agents. The U.S Gig Economy is expanding thanks to firms such as Uber, Lyft,...

The insurance world is filled with many complicated products, and most of these contain a great deal of “small print” regarding how the coverage works, and what an insured or a beneficiary must do in order to qualify for the policy’s benefits. For this reason, some people avoid discussing...

Do you sell property-casualty insurance, but are interested in trying life insurance sales? Are you in real estate, but are curious about becoming a life insurance agent? Are you looking to enter life insurance sales from a non-sales profession, but aren’t sure it’s feasible? If any of these...

American consumers have a large life insurance coverage gap. There’s no better time to raise and solve this issue than during September’s Life Insurance Awareness month. It’s September and once again everyone’s talking about Life Insurance Awareness Month (LIAM). It’s not hard to see...

It’s impossible to avoid stress in everyday life. It’s even more difficult if you’re a financial professional. Given the ubiquity of stress, it’s crucial to manage it so you can remain productive at work. Unless you’re living in a dark, padded room, it’s impossible to avoid stress in...

Imagine if most of your new clients came from referrals. No more cold calling. No more buying cold leads or Google Ads.  And certainly no more expensive free meal seminars that take hours to deliver. With an insurance or financial-services business based largely on referrals, you can devote...

Imagine waking up one fine spring day. You head to your office, only to find it empty. Your staff is gone. Your client files, mainly Baby Boomers, are missing. Your calendar is clear. Your CRM system is blank. It dawns on you that, after 35 years of selling life insurance, you have no one to see,...

Insurtech ventures have captured the imagination of the insurance industry. But will on-demand insurance websites challenge human agents? It’s a bit too early to know. But you may want to keep an eye on these new players . . . learning from, reacting to, and engaging with them if they begin...

The American Council of Life Insurers, the long-time lobbying arm of the life insurance industry, is expanding its efforts to include supplemental health benefits. Its advocacy program will now include insurance products such as dental, vision, and critical illness insurance products, as well as...

Are you looking for a sales opportunity to replace Affordable Care Act (ACA) health insurance? Then look no further than critical illness insurance, which has been posting solid sales increases over the last five years, according to industry scorekeeper LIMRA. According to LIMRA’s U.S....

Agents and advisors today know instinctively that achieving one’s retirement-savings goals requires assuming some investment risk. Unfortunately, their prospects and clients may not always agree, according to a report from the Insured Retirement Institute (IRI) and AXA Financial. The study,...

Economic conditions have a way of putting financial plans on the shelf. But when things improve, consumers feel less constrained, creating opportunities not only for themselves and their families, but also for their insurance agents and financial advisors. That’s the takeaway from a new survey...

Welcome to the Age of Mistrust . . . a time when people question the truth of what they read and doubt the integrity of those they meet. It’s an era in which skepticism has replaced faith and in which consumers are not surprised when a trusted advisor becomes a scoundrel. As you can imagine,...

The U.S. death rate for Alzheimer’s disease is creeping up, according to data from the National Center for Health Statistics. The unit of the U.S. Centers for Disease Control and Prevention revealed that the age-adjusted death rate for this debilitating neurological disease increased to 30.9 per...

How will the U.S. casualty insurance market unfold in 2018? Marsh’s U.S. Casualty practice suggests keeping your eye on these issues: General Liability (GL) is becoming the new “bad boy” of the insurance world due to worsening financial results. According to Marsh, GL combined ratios...

Why do insurance agents get sued? Typically, it’s because they do or say the wrong things, creating a financial loss for their clients. However, “wrong” can result from many different actions or statements and can vary based on an agent’s license type. For example, if you’re a P&C...

U.S. individual life insurance premiums increased 1 percent in 2017, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey. LIMRA researchers say this is the fourth year of new annualized premium growth for the U.S. life insurance industry. However, the study also revealed...

The National Association of Insurance and Financial Advisors will launch the NAIFA Center for Excellence in Long Term Care. Its goal: to equip agents and advisors with the information, designation and educational resources they need in order to succeed. Carroll Golden, the Center’s director,...

Distorting the truth about a financial-services product might help you close a sale. But it can also hurt your client in the future, leading them to sue you for misrepresentation. Put another way, when you get the facts wrong in a sales meeting, the ensuing damage can be severe to all involved....

Life insurance agents have become accustomed to planning for increasing client longevity. But with America’s current opiate crisis, this may become a thing of the past. Case in point: recent data from the National Center for Health Statistics reveal that U.S. life expectancy at birth in 2016...

Consumer advocates are arguing for a $25 billion reduction in insurance rates due to the windfall insurers stand to gain as a result of the recently enacted Republican tax plan. This will presumably help consumers, but hurt agents, whose compensation is typically a percentage of policy premiums....

Life insurance agents are most concerned with the micro-view of their business: how many new clients they’re adding, whether their compensation is growing, and how many of their policies might fall off the books in a given year. But it’s also important to take a macro-view of the life insurance...

If a client asks you whether he or she should invest in promissory notes, you may want to answer, “Let’s talk.” That’s because these instruments, which are used by companies to raise capital, are the top current threat facing financial consumers. According to a 2017 survey from the North...

Whew, 2017’s a wrap! After a year-end breather, you likely are excited about attacking 2018 with renewed gusto. And you may be looking to raise your game by increasing your activity level, better managing your time, and/or increasing your closing ratios in the months to come. If working harder...

If you follow the news religiously, it would be easy to conclude that life is becoming increasingly risky. With natural disasters, technology-enabled crime, and political conflict, it appears the world is perched on a scary ledge. Yet according to the 2017 Travelers Risk Index, an annual survey of...

Have you ever reported an auto insurance claim by phone? Do your auto insurance clients use this new technology? If not, you—and they—are not alone. Despite aggressive promotion for mobile auto insurance apps and growing consumer use of the Internet to buy insurance, U.S. customers are not...

The long and winding fiduciary road just got longer and foggier. That’s because the U.S. Department of Labor has announced an 18-month extension before three related regulations go into effect. Even though the best-interests standard is still operative, now three crucial “prohibited transaction...

As the 2018 Affordable Care Act (ACA) enrollment clock ticks down to its December 15, 2017 conclusion, agents across America are asking themselves one of two questions: Why did I subject myself to yet another chaotic ACA enrollment? or What will I buy with all the great health insurance and...

A major accounting firm is predicting the damage wrought by Hurricanes Irma and Harvey (and now Maria) will harden the P&C insurance marketplace (less insurance capacity at higher prices). However, it believes premiums will eventually fall and a softer marketplace will return. Based on a survey...

If your market area contains a high concentration of Hispanics, you may have a sales opportunity at hand. That’s because middle-income Hispanics in the workforce say they feel less financially secure and worry more about money than other Americans. This poses higher hurdles to planning for...

If you sell individual life insurance the old fashioned way—meeting with prospects over a kitchen or office table, then putting applications through a traditional medical underwriting process, you may need to wake up and smell the new sales paradigms. Several LIMRA studies point to the...

President Donald Trump on October 12, 2017 signed an executive order that promotes the ability of small employers and consumers to band together in so-called Association Health Plans (AHPs). The Administration claims the plans will lower insurance costs and increase access for people who may have...

Averting one’s eyes has become a common strategy for agents operating in the individual health insurance market. That’s because so many of the unforeseen consequences of the Affordable Care Act (ACA) have been ugly. Agents have been marginalized. They’ve seen their commissions tank. And...

Car accidents. Serious illnesses. Natural disasters. Deaths in the family. These are all part of the human condition. Also part of being human is the belief that nothing bad will ever happen to you.  As an insurance agent, for instance, you might tell yourself you’ll never get sued because you...

Have you ever gotten into a “great debate” with a client or colleague about what form of life insurance is best . . . term or whole life? Then you no doubt noticed how hard it is to win this argument. That’s because in matters such as these, loyalty to dogma becomes more important than...

With the advent of the Internet, being able to buy books, music, flowers, or, well, just about anything online became a powerful purchase driver. When you no longer needed to drive downtown or to the mall to buy, the motivation to do so became all the greater. This may account for why the life...

Are you facing a tough life insurance sales environment? If so, you’re not alone. According to the MIB Life Index, underwriting inquiries declined in June 2017 as well as over the first six months of 2017, compared to the same period in 2016. According to MIB, which provides most life...

The latest Morningstar funds-flow data provide an interesting perspective on where the market winds are blowing. According to its July 2017 report, consumers invested $10.8 billion into U.S. equity passive funds, up from $9.3 billion the prior month. On the active fund front, investors withdrew...

Windows computer or Mac? iPhone or Android? Domestic or foreign car? So many decisions in life revolve around “great debates.” The problem is, what starts out as debates over facts eventually deteriorate into battles over emotions, biases and entire belief systems . . . over “religion,” if...

Who doesn’t like ratings—Yelp for restaurants, Amazon for just about any conceivable product, Consumer Reports for cars and major home appliances, Angie’s List for builders and other service providers? Whatever the product or service, consumers love to peruse information that gives them the...

The 2017 National Insurance Awareness Day (6/28) has come and gone. But awareness of life insurance could still use strengthening, according to LIMRA, a life insurer trade association. But agents who speak with prospects and clients about their life insurance needs stand to benefit tremendously...

Insurers are in the business of assessing, pricing, and mitigating risks. But sometimes risks are so new and difficult to quantify they pose dangers to the industry as well as to society overall. A recent Swiss Re report paints a troubling picture of the many ways evolving risks can undermine not...

If you sell life insurance, you know how complex the process can be. From the initial approach to the close, it can take weeks or months to get to “yes.” So it’s natural for you to relax when you reach the underwriting phase of the sale. But if you want to avoid an E&O insurance claim,...

The Securities and Exchange Commission (SEC) has approved a Financial Industry Regulatory Authority (FINRA) measure that revamps its securities licensing exams. Effective in the fourth quarter of 2018, the new system would create a two-tier licensing program that allows someone without securities...

Have you been on the receiving end of a client complaint or lawsuit? If so, you’re not alone. According to FINRA, consumers filed 3,681 complaints against securities professionals in 2016, leading to arbitration procedures that last an average of 14 months. On the insurance side, the National...

A new research report from The American College’s New York Life Center for Retirement Income reveals that 75 percent of consumers have an alarmingly low level of retirement literacy. This suggests that life and annuity agents who can bridge the knowledge gap will differentiate themselves...

According to research firm Conning, Inc., global insurance mergers and acquisitions slowed in all sectors in 2016. That’s based on a new study entitled, “Global Insurer Mergers & Acquisitions: Activity Slows, but Pressures Remain,” available from the Hartford, Connecticut-based research and...

Working for yourself is a dream of millions of Americans. But as we discussed in part 1 of this series, it can also limit your success. That’s because when you try to do everything as a professional agent, you end up paying yourself too much for your administrative work. Plus, it’s easy to get...

It’s been a stormy health insurance marketplace over the last five years. As the realities of the Affordable Care Act hit home, producers have often found themselves on the outside of their business looking in—fighting for legitimacy in the individual major medical arena, while watching their...

Alexander Acosta, Secretary of the U.S. Department of Labor, recently announced that the contentious DOL Fiduciary Rule will partially take effect on June 9 after a two-month delay. Although the regulation’s ultimate staying power remains in doubt, it will in the short term continue to affect the...

NAPA, the National Association of Professional Agents, provides insurance agents, agencies, RIAs and financial planners access to benefits and services tailored to the unique needs of insurance and financial professionals, including Errors and Omissions Programs, Health Insurance, Life Insurance,...

Being a new insurance agent is no cakewalk. Just like any self-employed person, agents are not only responsible for marketing and sales, but also for administrative tasks for their book of business. In their first months or years, they often lack the income to hire an assistant. But as their...

In a move it claims will stabilize the individual health insurance market, the U.S. Department of Health and Human services has finalized a rule that will reduce the Affordable Care Act (ACA) open-enrollment period from three months to six weeks. In a related move, the Administration has announced...

The soft commercial insurance market may be hardening, according to the latest data from MarketScout.  That’s based on a composite growth rate of 1%, the first increase in 20 months, says the Dallas-based electronic insurance exchange. “The plus 1 percent composite rate index was driven by...

Buying E&O insurance is not most agents’ favorite activity. You need coverage in order to write business through sales intermediaries and insurers. You have a sense of how much you need and what you’re willing to spend. But you don’t want to spend a lot of time researching products or getting...

Insurance sales people often like to talk about how successful they are. But some agents prefer not to talk about their success, but rather to simply be successful. And when pushed to speak about their accomplishments, they often prefer to credit their customers rather than themselves for their...

According to a LIMRA projection made prior to the DOL Fiduciary Rule delay, total U.S. individual annuity sales will likely end the year at $200 billion, a drop of 10 to 15 percent over 2016. Even worse, LIMRA projected variable annuity sales to decline by as much as 20 to 25 percent, largely due...

Here’s some information to pass along to your insurance clients in order to keep them safe while investing. There’s been so much “fake news” in the media that it’s no surprise the trend has infected financial websites.  According to the Securities and Exchange Commission (SEC), public...

Are you concerned about where the insurance business is headed? Well, there’s good news on the employment front. Despite concern about declining health insurance commissions and about annuity premiums going level or turning into fees, the prospects for insurance job growth in 2017 are...

Insurance Carriers and their business associates (including insurance agents) are being targeted by the OCR for phase 2 HIPAA audits. These audits began in March 2016 and specifically address organizational policies, procedures and documentation for data security. Most notably the privacy, security...

“Money often costs too much.” Ralph Waldo Emerson A common area of dispute arises in the context of the stepparent-stepchild relationship. While no single “silver bullet” will prevent inheritance disputes, certain preventive steps can be taken by insurance professionals to minimize their...

When you think of the holidays, the first thing that comes to mind is usually good cheer, but the holiday season is also an important time of year to ensure your family's protection. According to The National Highway Traffic Safety Administration (NHSTA), the daily death toll from drunk driving...

Ten key points from the NAILBA34 breakout on Multicultural consumers and their impact in the insurance industry. Speakers:George GoreMichael GomezVincent Hip Moderator:Mammen Verghis Women are the most powerful demographic in the U.S. economy (they control half the GDP). 55% of women are...

The Open Enrollment Period for 2016 begins on November 1, 2015. We’re now most of the way through 2015 and the effects of the Affordable Care Act (ACA) continue to be felt. Earlier this year, the Centers for Medicare & Medicaid Services (CMS) reported that the U.S. Department of Health and Human...

The National Association of Professional Agents (NAPA) announced today the expansion of its popular NAPA Direct Errors & Omissions Insurance Program. The new product offerings include comprehensive E&O coverage options for Life & Health Agencies as well as Property & Casualty Agents and Agencies....

With the health insurance marketplace and state-run marketplaces having issues with their websites since launching on October 1, brokers are seeing this as an opportunity to make a profit. The Patient Protection and Affordable Care Act (PPACA), brokers say, may help people afford health insurance...

October 1 is right around the corner. The new insurance exchanges under the Patient Protection and Affordable Care Act (PPACA) will be implemented. Navigators, or independent ombudsmen, will play an important part in helping consumers understand health insurance coverage when they are signing up....

Insurance agents seeking to provide a broad range of financial services to their clients must keep in mind the requirements of the state and federal securities laws. As described below, the securities laws apply to persons who offer, sell, or give advice regarding securities products. Compliance...

Here is Part II of the article Securities Law Reminders for Insurance Agents. In case you missed Part I, click here. Giving Investment Advice When assisting a client with their insurance needs, an agent may wish to provide more comprehensive financial planning. If that planning involves giving...

Starting on October 1, 2013, open enrollment will begin and insurance companies will compete in a health insurance exchange pool, decreasing insurance premiums in the process. The Patient Protection and Affordable Care Act (PPACA) requires most U.S. citizens to get health insurance by the year 2014...

Dental sealants act as a barrier, protecting the teeth against decay-causing bacteria.  The sealants are usually applied to the chewing surfaces of the back teeth (premolars and molars) where decay occurs most often. How does a sealant help prevent decay? A sealant is a plastic material that...

Candy is a tasty pleasure, but bacteria that cause cavities thrive in sweets such as candy and soda. With care, sugary treats can be enjoyed while limiting chances for tooth decay. Tooth decay is the destruction of tooth structure and can affect both the enamel and the inner layer of the...

There are a number of simple precautions you can take to avoid accident and injury to your teeth.  One way to reduce the chances of damage to your teeth, lips, cheek and tongue is to wear a mouthguard when participating in sports or recreational activities that may pose a risk.  Avoid chewing...

Harmful Foods Foods that are harmful to teeth include sweets that are sucked, stick to teeth or dissolve slowly. Stay away from lollipops, hard candy, toffee, gum drops, taffy, caramel corn, brittle, dried fruit, chocolate-covered raisins, and “high energy” sports bars. Less Harmful Foods...

As you may know, the Patient Protection and Affordable Care Act (PPACA) was upheld by the Supreme Court on July 28, 2012, more than two years after being signed into law.  Assuming the law continues to be upheld through the election, a few of the 150,000 health producers will consider leaving the...

Independent agents are facing numerous challenges these days. First and foremost, the market is shrinking. For those in the life and health insurance field nationwide, many are considering diversifying business or leaving the field. Before making these types of decisions, here are some things...

As an agent, it has become beneficial to stay up to date with how the world currently works. For many decades, the insurance industry relied on fax machines and handwritten applications to do their business. While those methods are still common nowadays, more and more agencies are switching to...