In This Issue:UHC/ Pacificare and BC/BS announce Bonus Programs
The State of Oregon considers Taxing the Death Benefit and Cash Buildup of life Insurance
Did You Know?
Developing Sales with High Net Worth Clients
Industry Updates are provided free of charge to Agents and Brokers by Affiliated Marketing Group for informational purposes only and are not intended to provide financial or tax advice. |
Industry Updates April 2009
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Expect Something Different 2925 Briarpark, Suite 155 Houston Texas 77042 | ||
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Health Carriers are offering Bonus Money on New Business UnitedHealthcare is offering a bonus to agents in Texas and Oklahoma who sell new PacifiCare medical cases with up to 50 eligible employees with effective dates from May 1, 2009 through January 31, 2010. Agents must sell at least four new PacifiCare cases having a total of at least 100 enrolled employees in order to be eligible for the bonus. Agents who qualify will receive a bonus of $25 for each enrolled employee in eligible PacifiCare cases. Blue Cross and Blue Shield of Texas (BCBSTX) is pleased to announce a one-time additional producer bonus program which pays you for the sale of two and three lines of Fort Dearborn Life (FDL) products to a new or existing medical account (health plans covering 2-150 lives). For May 1, 2009, June 1, 2009, and June 15, 2009, effective dates, the Cross-Sell Bonus Program will pay you a bonus of $15 per insured employee when you sell two lines of FDL Products, or $20 per insured employee when you sell three lines of FDL Products. There is no maximum payout per producer. Contact Angela Moore for details at 713.333.6923 or email her at angela@affiliatedmarketing.com |
State of Oregon Considers Taxing the Death Benefit and Cash Build up of Life Insurance On Thursday, the Oregon House of Representatives will consider H.B. 2854, legislation that would tax both the death benefits and earnings on the inside build-up of life insurance and annuities at the same level as the state income tax starting in 2010. The bill was introduced on March 5 and has been referred to the Revenue Committee. Please take action to oppose H.B. 2854.
H.B. 2854 unfairly targets individuals and families who have taken responsibility for their financial future by preparing for retirement and planning for unforeseen circumstances. Any changes to the tax system must not limit or disadvantage protection and security products, but rather strengthen them.
Policy-makers at both the federal and state levels have long recognized the important social policy served by life insurance, which provides families with peace of mind through immediate financial protection for their dependents. These death benefits are not taxed. The buildup of savings in permanent life insurance can be used to help pay premiums or increase the amount of coverage, making life insurance more affordable as policyholders grow older.
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Did You Know? |
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High Net Worth Clients |
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That if your clients have the UHC and/or PacifiCare included in their company’s life insurance plan the following: Beneficiary Services: The program provided beneficiaries and dependents with a dedicated toll-free phone line for grief consultation, financial and legal services, and a referral to community resources. Will and Trust Preparation Services: This program provides for the employee and family with online access to estate planning information and tools via an easy-to-use Website. The program includes access to a self-service will preparation tool or 1:1 document preparation assistance for a discounted fee. Travel Assistance Services: This program provides employees and their family with assistance in a travel emergency. Services may be accessed by phone or Internet, 24/7 from anywhere in the world. The program covers up to 90 days on any one trip, for travelers at least 100 miles away from home or office. This type of program can assist with medical and transportation assistance in a travel emergency, as well as pre-trip information to adequately prepare in advance. What’s more, because these services are automatically included in the company’s life insurance plan, there is NO CHARGE! |
AMG is a privately owned full service brokerage agency located in Houston Texas. Offering Group Health and ancillary products; occupational accident coverage; and as a part of Lifemark Partners one of the most comprehensive Life portfolios in the industry |
Do you have high net worth clients but are unsure how to "get their attention" when it comes to assisting them with their life insurance? Most agents fall short in this venue for two reasons. First agents don't define and then communicate to their clients the failings of their current plan. The client has to understand that they have a problem before they will entertain a solution
The second reason most agents are unable to "get their clients attention is they are selling product and price when the client is looking for a concept that is both practical and addresses the issues under consideration. Yes, you need to be competitive and yes, you need to represent quality carriers but a $1,000 on a $50,000 premium is not going to make or break the sale unless that is your focus. At AMG we have the experience and the tools to help you "get their attention" along with the ability to develop a concept presentation that is unique for your client and results in a sold case for you. Our Existing Client Prospecting Tool is an excellent place to start. For additional information and assistance contact Steve Gresso at 713.333.6912 or email him at steve@affiliatedmarketing.com |
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Affiliated Marketing Group
2925 Briarpark, Suite 155
Houston, Texas 77042
Phone 713.977.0611
Fax 713.977.3877
www.affiliatedmarketing.com
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When you call AMG be sure to ask about our new online fillable quote request forms for group, life and occupational accident. Email them to your your clients. They can complete them and email back a complete clear request for coverage. |
