www american family insurance

www american family insurance
This article details the conduct of business by insurance agents, marketers, financial planners, and trusted advisors who have been in this business long enough to know that they are succeeding, that they enjoy it, and have crossed over into senior citizenship and are choosing to remain active, competent and engaged. There is an ever-increasing number of us out there who are very much in The Game. Some are full time, others are semi-retired, and there are still many who have voluntarily cut back to part-time practice.

For me, I consider myself semi-retired. Our views and thoughts are very interesting that we, still have the promises that we have been called into question decades ago by recruiters, probably long gone by the change with time, economic conditions, laws, Compliance, and all other requirements and strategies, with further training. We have seen the development of only the sale of insurance to the attainment of a fully professional, it's very challenging and rewarding. We have a lot to give to our colleagues and other practitioners of all ages.

In 1964, less than a year after I signed my first life insurance contract, I found myself in an audience of perhaps 300 agents in the Grand Ballroom of the Rice Hotel in Houston, Texas. On stage was a veteran agent with the name Ben Feldman, probably the most successful insurance brokers in the history of the Republic. Ben spoke of many things that day, and one thing I remember to this day, what this great admonition and prediction: He asked how many of us had been in business less than two years. Many hands were raised, not less than half, maybe more. He stated that within 5 years, more than 90% of us would no longer be in this industry. It is hard. I have a promise to myself right then that I have to say that 10%. To such a thing happens, one has to walk and not just talk the talk. The opportunities on the way to overcome the inevitable ups and downs, the turnover in any profession, makes it worthwhile. But what exactly is it really?

With 71 years and 44 years of agency practice, the retrospective displays a variety of techniques, methods and strategies are constantly changing, from which agents can benefit. The way forward certainly looks inviting, even exciting, and with services provided and of all. Moreover, it could also be motivation for the younger age to fulfill their own promises, realizations and dreams.

First, I noticed that a large part of an established agency new business comes from their own book of clients, especially unsolicited, and supplemented by some of the usual methods of normal and lead the development and conservation efforts. One such idea, the work would be contracting to buy leads from a supplier and delivering them to the office via the Internet. There are at least 6 to 8 and various other prospecting methods available, as many of you already know. Implement the people who work for you. There is lots of trial and error in this; nonetheless, it is necessary. In our case, almost all of the new perspective, by phone or e-mail are in. In the early years, this was certainly not the case.

We have one person, our office manager, who has been cold-calling companies in the yellow pages for years, about one hour per day, for over 9 years. It will never be tired and consistently produces new quality. We always get a number of new and valuable prospecting situations from the process of annual maintenance and service contacts by telephone. I follow the strategy of sequential sales to existing customers. So the customer to a customer, whether individual, family or business partners. Who does not, leaving chips on the table. We have an in-depth telephone appointment, which trades on information, the methodology of using the framework of this article.

Finally, over the years, as time and circumstances have changed, I've tried all the ways and means for the development of ever-flowing, fresh, qualified leads, as most of the readers of this article have. With a Commission-sales business, you're always on a perpetual campaign, and enable enterprises. If this does not mean that errors in the entire effort and ultimately from the industry. In sum, I found that the longer one remains active in agency operations, the more quality inbound fresh, new business client maintenance, and transfer calls to obtain. This is a major benefit of course. The key is turning problems into prospecting processes. Finally, the selection of IMOS, FMOs, and BGAs that suit the practitioner is an imperative. These organizations provide value-added services, education, marketing strategies and new coverage rollouts. Take advantage and make sure that all contracts entered into by these organizations and are directly related to the insuror.

Of paramount importance is the treatment of your sales efforts to a professional. This means everything from a modern office, fully equipped with modern appliances, computers, telephones, fax, call the National Plan capability, customers and deliver files, printers, copiers, staff, detailed annual business plan, advertising budget , fringe benefits of any kind, the Commission claims checks, website, books and the expectation the economy, E & O insurance, general liability coverage, and pre-paid legal, written procedures for lead and new business development, compliance and eligibility files , training, membership in professional organizations, annual daytime book so that you have a business as opposed to just selling.

Here is a valuable point: The income stream provided by insurance brokers on contracts to create value for us. Vesting period with right of beneficiary selection is the most important element. This is so important that it needs to be emphasized that this is in fact the development of asset and income for the producer, and that at a certain point, our businesses can be looked upon not only as our work, but as an income-producing asset. That is the strength and uniqueness, not only for the admission of new companies and maintain the existing businesses, but the preservation of the renovation and subsequent compensation. Properly selected and arranged to pension, while we live, but also for our families, about our dead. Read your agency and agent contracts carefully, especially the vesting, beneficiary selection rights, and for-cause/breaching provisions. Take special notice of the language regarding proprietary ownership of policy holders. Of course, this is a joint venture between insuror and agents, each with an interest. In the event the contract contains wording, saying that the incentive to change insurance policyholders, the company to another company because it is clearly in the interest of the customer is considered a violation, that is probably not your company.

In a word, we have distinct rights and obligations to act in the best interest of our customers and can not contrained to leave that customers at the mercy of some companies do, because otherwise would allow the company to rescind the contract for good reason to our loss and loss of the client. Good examples would be moving a medical insurance or term life insurance policy elsewhere because the coverages became too expensive. If the customer can create new underwriting and a comparable or better coverage is so much to do. The customer's interest before anything else. Practicing this principle you will about the advantages of remaining in our area for the long term.

Here is a primary point. We are agents, marketing, financial advisers, consultants, and above all we are and have always been our own bosses. Imagine that. We can still, in practice, only so long as we wish, are healthy enough to do, and are not educationally obsolete. All this is in our own hands. These are our own choices, decisions, joys. In my case, at the age of 71, I have no immediate plans to anytime soon retire. As long as there is no burn-out and the passion continues, there is simply no reason to close up or sell out. I'm sure many of my colleagues will readily agree. Reduce the time and effort in every respect, and then make sense to have your whole activity with age, travel, leisure and other activities and avocations. Best of all, there are in this business does not discriminate on the basis of age, it is not everyone informed me that my services are no longer needed, or that my work was in another state or country. Nobody will be promoted over my head. Communication and offers of contracts from IMOS and insurors keep rolling in. After all, why not in as much as they want a piece of the productivity.

Do you think that all of them. How different this is from the company in the area, the work, frightened, intimidated, and insecure, while that one day, perhaps soon, they are the boss in the office for a little heart to hear talk about job performance, cuts or any other thing, all to be demoted, transferred, uprooted, broken off, and what far too many cases of unemployable and talented people, maybe 40, 50 or 60 years old and desperate search in vain for anything to pay their bills and for social benefits and pensions. The only people who can fire ourselves.

With the changes and progress in the way we complete insurance applications, the introduction of computers, Internet, methods of communication via e-mail, telephone service nationwide call, fax, electronic access to interactive insurance websites, most businesses can be completed directly in our own offices and prosecuted. No longer are you looking for your car through the windscreen and the burning of gas and no longer displayed when you do not reach. For many years, I have enjoyed a very comfortable big income taking advantage of all of this. And this year has been semi-retired a few years ago.

This brings us to a very interesting financial and tax strategy for us. As seniors and doctors, we generally receive social security, income, no small piece of change. Some of us may even be receiving pension income from previous employment. Many of us have our own IRA, SEP, and 401 (k) plans. I know I have and for good reason, especially the 401 (k). Here is a great technique. It is this plan in the past who wore rather large sums of money (assuming you have it), even though this tax-qualified plans are subject to RMDS. In a word, we can continue to create assets that our social security income is fully or largely exempt income, and the establishment of funds for their own food security. This should certainly with a lot of feedback from you out there. Compare that with regular employees and pensioners with substantial company pensions, but little or no deductibles and no active tax-advantaged plans. They suffer heavy on all their income. We do not have this issue, at least not until we have decided to get our plans and / or the store. This is nice if it was.

The verdict is in: active seniors in the work and / or non-work activities for which they have interest, are generally more alive and live a longer, healthier lives. Finally, this kind of end-game, which frankly surprised me, should not only motivate other senior practitioners, but all of us in all age groups. After all, independence is the reason why we in this field in the first place.

Roger G. Bensman, CLU, ChFC, is Principal of Bensman & Company Asset Strategies, LLC, Houston, Texas. He can be reached at 281-895-9428 (fax) for more information. He has been established since June, 1963, conducts his insurance and retirement business statewide in Texas, contracts with some 40 insurors for which he holds authorized agent contracts. He earned his bachelor's degree from the University of Wisconsin, Madison. He completed his post-graduate studies at the American College, Bryn Mawr, PA, consisting of two diplomas and the resulting professional designations of Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC). He remains active in the practice of financial planning and advice on single, multiple and must be comprehensive and distribution modes, including normal retirement age and provides valuable tips, techniques and methods that only apply to insurance agents and marketers from the perspective of a which evolved from the longstanding experience in this area actively. His website address is http://www.bensmanandcompany.com