Article Abstract:
A specialized area in the life insurance market is the planned-giving market. Agents can find opportunities in this market if they take advantage of new strategies and new products designed for charitable giving. The way to become successful in this market is to develop favorable relationships with the officers of charities. This may be difficult because prospective clients usually are unwilling to name a charity as a beneficiary. Fraternal and religious organizations may be a lucrative market for this specialized area of insurance.
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Article Abstract:
Insurance agents at the 1992 meeting of the Million Dollar Round Table (MDRT) in Chicago, IL, discussed issues important to the life insurance industry. Members of the MDRT were relatively unaffected by the recession. The median commission for members was $61,512 in 1992, a $1.7% increase over 1991. The participants agreed that clients have become more aware of solvency issues, requiring agents to work harder. Other issues discussed at the meeting included state regulations and the healthcare system.
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Article Abstract:
New York Life Insurance Co is offering a new payroll deductible life insurance plan called Worksite Employee's Adjustable Life. The policy is available to both qualified and non-qualified plans and offers options for death benefit payments. One year after the policy's start, the face value can be decreased or increased.
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