Newsletter Archive - Jun 12, 2009 Email
News for Life -- Life and Protection Solutions Newsletter

 

Affiliated Marketing Group
2925 Briarpark, Suite 155
Houston Texas 77042
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Volume 12
Issue 1
December 2009
 
 
 
 
The Staff & Management of AMG wish to thank you for the confidence you have placed in our ability to provide you our broker partners with the service and products you expect and deserve as insurance professionals.
 
We look forward to working with you in growing your practice in the coming year.
 
Merry Christmas & have a Safe and Happy New Year
 

 

 
 
Health Care Reform
Senate Moves Closer to Resolution

The Senate has reached a major compromise on the issue of a Government Run Health Care Alternative to Private Industry, taking one more step toward passage of Health Care Legislation. 

Senator Joe Lieberman, who had promised to block any legislation that included a "government option" seems satisfied with the language setting up a more limited proposal that would empower the government's Office of Personnel Management ( It already administers plans offered to federal employees and members of Congress) to put in place a plan that would be run by nonprofit entities set up by private insurance carriers and would be available to the public on the new insurance exchanges that would be created under the bill.

It seems now that any legislation emerging from the Senate will omit the kind of straight forward, immediately available public option originally envisioned by advocates, including President Obama.  The compromise brokered by 10 Democrats (Five Liberals and Five Conservatives) makes it likely that a bill will be sent to the White House that includes a broader and more direct role for government in the health care market.

As a concession to liberal Democrats, language was included that would open Medicare to Americans ages 55 to 64. Doing so would cover an estimated two million to three million Americans of this age group who currently have difficulty obtaining coverage. People in the 55-to-64 group who already get health insurance through their employers would continue to do so under the proposal.

Opposing an expansion of Medicare is the American Medical Association because doctors face steep pay cuts under the program and many Medicare patients are struggling to find a doctor. Hospital spokesman also said expanding Medicare and Medicaid is a bad idea. Senator John Barrasso (R., Wyo.) said expanding Medicare "is putting more people in a boat that's already sinking."

Senate Minority Leader Mitch McConnell (R., Ky.) speaking for the Republicans criticized the Democratic negotiations. "What's becoming abundantly clear is that the majority will make any deal, agree to any terms, sign any dotted line that brings them closer to final passage of this terrible bill,"

Senator Lieberman was quoted as saying  "These are trade-offs, not compromises".

Still facing the Senate is the issue of abortion payments. An amendment similar to the one added to the House bill restricting the use of government money to fund abortions was defeated in the Senate this week. 

Senators from both parties who support "Right to Life" have said they will not vote for a bill if government money is used to fund abortions while those who support payments say they won't vote yes unless they are included.  Beyond this difficult issue, both houses of Congress face the daunting task of resolving the differences between the already passed house bill and the Senate version should one pass.

It is important that we continue to express our concerns to our congressmen and make it clear that we expect them to remember that they are there as our voice on this critical issue.

 

Holiday Safety
"Let's Be Careful Out There"
Provided by our Building Management, these Safety Tips are well worth reading.  Don't let a lack of awareness lead to a tragedy this holiday season.

 

Group Health

United Healthcare Offers New Plans

The new 90% plans now being offered by UHC offer an opportunity to save your clients money while helping encourage employees to be more responsible in the utilization of their coverage by sharing a small portion of the co-insurance.

An example of a recent quote prepared for one of our brokers illustrates the savings:

100% plan with $2000 deductible from another carrier had a single rate of $242.00  UHC 90% with a $2000 deductible was only $223.00 representing a 7.8% savings in premiums.

 Angela Moore or Heather Matias can assistance you in learning more about the new plans.

 

Why Would You Want to Place Your Business Though a Brokerage General Agency?

Many agents are under the mistaken impression that using a Brokerage General Agency will result in a reduction of commissions or keep them from receiving bonuses.  The truth is that compensation to the agent is the same. 

What is different when you choose to work with a BGA?  You gain the benefits of:

  • Another set of eyes to make sure that all paperwork is in order before submission

  • A real person to talk to for service and underwriting issues - no more hit 2 for......

  • That person is the same person for all issues

  • Support on renewals - a BGA will prepare alternative quotes from multiple carriers for your renewals

  • A voice to assist in resolving any issues that arise on new or existing cases.

  • At AMG we even take care of employee terminations when you want us to

  • Marketing assistance when you need help closing a case

At AMG Angela Moore and Heather Matias are committed to the idea that we will be your administrative assistant so you can concentrate on the business of selling.  You owe it to yourself to take advantage of the many benefits of working with a AMG.

 

Life

A New Approach to Return of Premium Term

Do you have clients that like the idea of ROP term, but also like the security of a guaranteed lifetime death benefit contract?

Prudential's VUL Protector may have your solution by using policy loan to return the premiums paid.

These illustrations for our 20 year ROP product and a summary using a 20 pay VULP with minimum premium to guarantee death benefit vs. a 20 pay guideline premium with total premiums back at the end of the premium payment period*.  The VUL P policy continues on for life, with the loan protection rider providing additional security.

Market savvy clients, who still are looking for guarantees in today's climate, will love this option.
 

.  Contact Steve Gresso at 713.977.0611 for more information on this and other sales ideas.

 

More information on the New Genworth 360 Underwriting

With 360°LifeViewSM, Genworth continues to make strides in underwriting --  They have reduced the age and amount APS requirements. You will no longer need to order an APS for clients who fall in the areas below, as the requirements are now at the underwriters' discretion:

  • Age 60+ and coverage less than $100,000

  • Age 59 and under with coverage between $1 million and $3 million


Other changes include wider build and total cholesterol thresholds. Genworth has tightened their blood pressure and HDL ratio thresholds, they now accept treated blood pressure for Preferred Best No Nicotine Use as long as the applicant meets the blood pressure reading thresholds.  

Genworth is much more competitive in Standard or better rate classes; in fact, 12 percent of your applicants that are standard or better should see an improvement in the rate class offered.  And, all survivorship universal life and universal life insurance applications -- including Colony Term UL -- received on or after November 16, 2009, will fall under these new guidelines. Term life insurance products will continue to use the previous underwriting guidelines.  

 Contact Steve Gresso at 713.977.0611 for more information.

Sales Ideas
A Client Who is Reluctant to Let You Review Their Insurance Program

Offered by one of our Marketing Experts was this question to pose to your prospective client:

"Are you confident enough in the work done by your current broker to allow me to review your plan?" 

This is a question where the answer, yes or no is a winner for you.

Contact  Steve Gresso or visit our website for more Sales Ideas.

 

For Producer or Broker/Dealer Use Only. Not for public distribution nor intended to be used as financial or tax advice.