What if Warren Buffett Was the Key Man of Your Business?


Key person coverage is essential in a business, whether you’re small, medium, or international.

Key people play many important roles:

Has managerial responsibility.
Is responsible for sales.
Is connected with creditors.
Is responsible for client/customer relationships.
Is responsible for bank financing.
Is responsible for manufacturing.
Designed the product.
Has connections with regulators needed to get approvals.
Frequently is the highest paid employee.
Provides special skills unique to the business.

Clearly, the loss of a key person can have a huge impact on it’s functioning; the morale of the company; and its value to investors.

Life and disability insurance are typically used to manage these risks. They are cost-effective; provide the amount necessary to secure the business against the loss of the key person; and make the benefit readily available.

Through the Global Insurance Portal, we have many contacts among insurance providers to cover business of all sizes, in all industries– and in virtually all countries! Let me know if you need a quote.

But what if your key person was somebody of the stature of Warren Buffett? A recent article in The Wealth Advisor addresses that very topic. No doubt insurance plays a role here; at the same time, you can see how the organization has been structured to protect itself against losing him. It’s a fascinating look at the proper structuring of a very large, complex, conglomerate of business interests.

Click here to read the article.


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Increasing the Profit Margin on Your Life Insurance Sales

 Let’s take a look at how money is made on the sale of life insurance.

The broker or advisor takes responsibility for marketing and managing the sales process. The general agent and carrier take care of prequalification, underwriting, and case management.

In the middle you have the completion of the application paperwork, which of course triggers the underwriting process.

You want the broker or advisor to be front and center with the client, because that’s where the relationship is solidified, and value exchanged. It’s a smart use of the sales person’s time and money to interface with the client as much as possible.

But you certainly don’t want the broker or advisor to be saddled with all the paperwork. This is not a revenue-generating function – it’s simply an expense, and it could be a large one considering the size of some carrier’s application kits, as well as the high volume of supplemental forms.

If the broker or advisor hires an office staff to do the paperwork, it’s still simply an expense, and reduces the profit margin per sale.

Some carriers will take over the application-completion process, on selected products. These tend to be term cases in which the applicants have no serious underwriting challenges. But that neglects a lot of other products that are sold, especially with impaired risk cases.

To me, the best solution is for the master general agent to take over on this function. Let them worry about maintaining a staff ready, willing, and able to complete paperwork for case after case. Let them shoulder the expense involved. This way, the cost per sale can be kept as low as possible, and therefore the profit per sale can be kept as high as possible.

Of course, the MGA must be large enough to support this overhead, and run efficiently enough to deliver top-notch service on every application. Through our Global Insurance Portal, we can help you form a partnership with one who will take care of this function on the vast majority of your life insurance cases. Please contact me for details.


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Can you do a life insurance to life insurance 1035 exchange after the new life insurance policy is issued? Does it have to be done at the time of issue?

 This is a really good question. Typically, an exchange is made from an existing policy to a new policy at the time the new policy is issued. The existing policy… Read More
“Compare term life insurance rates at no cost from top rated companies in seconds.”
 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Can I remove my spouse from my life insurance policy prior to filing for divorce?

If you are the owner of the policy, you have full control over the beneficiary designation. You can ask your broker, or the carrier’s policyholder service department, for a simple form… Read More
“Compare term life insurance rates at no cost from top rated companies in seconds.”
 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Should we keep paying the premiums for a whole life insurance policy and let the cash value grow until year 10, or do we get out now and invest the difference and hope to recoup the losses?

What you have is probably the best product in the marketplace to grow cash on a guaranteed basis. Can you honestly find another vehicle that will give you the same guaranteed interest… Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How do I find out if my deceased mother left me an insurance policy?

The National Association of Insurance Commissioners provides a lot of consumer services, including a policy locator. You can deal with them directly. “The NAIC can assist consumers in locating life… Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

You’re Selling Medicare Supplements. Which Wholesaler Should You Use?

One of the primary purposes of the Global Insurance Portal is to help brokers and advisors find the right wholesaler for the products they sell. This time of year is prime time for selling Medicare supplements, and many insurance sales people dive into that marketplace.

Which wholesaler should they use? That is the key question.

I spend a lot of time in the insurance marketplace talking with different distributors. In the process, I develop a set of standards that I use to differentiate among the good ones, the better ones, and the best ones. To the greatest extent possible, my objective is to refer a broker to the best – a distributor that I consider to be an industry leader.

One that will treat my brokers as a Gold Standard Client.

We have one. It is featured on our service platform for brokers selling Medicare Advantage and Medicare Supplements. It takes grand care of its brokers, covering everything from sales and marketing assistance, to compliance with federal and state regulations. The whole package of services it offers brokers is described below. Please let me know if you want additional information.

Concierge brokerage services for brokers selling Medicare Advantage and Medicare Supplements.

You can receive complete sales, marketing, training, administration, and compliance support from one of the nation’s top wholesalers.

Details:

  • One of the largest distributors in the country in terms of premium written.
  • Access to a full line of Medicare Advantage and Medicare Supplement products.
  • Products available in all 50 states.
  • A world-class training department, with a faculty of expert speakers and trainers, and customized training programs.
  • State-of-the art marketing support includes marketing materials and leads, and free consultations with marketing experts.
  • In-house processing of all paperwork.
  • An agent support team can assist in corresponding with carriers and government agencies.
  • Full compliance with all federal and state regulations.
  • Top compensation.

Ideally suited for:

  • Independent brokers who specialize in these products.
  • Newly licensed agents.
  • Large producers generating multi million dollars of premium per year.
  • Small, medium, and large agencies who want to add these product lines into their product mix.
  • Both newly-started and growing call centers.

http://planrisklive.com/concierge-medicare/


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Partner With Somebody Just Like You


Let’s suppose you are a property and casualty insurance agency. Your brokers do a fine job of selling their clients homeowners, auto, and other personal lines. They do right by their clients: they shop for pricing from multiple carriers, and employ a consultative sales process through which the most appropriate product is recommended to each client. Exceptional value is delivered, and exceptional value is appreciated in the form of repeat sales and referrals.As a matter of fact, the level of service you provide when your clients purchase your products is so effective, your clients start asking about the availability of additional products. What about commercial policies? Life insurance? Disability? Long term care insurance? Annuities?Here’s where things can get tricky. You certainly would want to help your clients purchase the additional coverages they need. And, you certainly would like to make some money in the process, if at all possible. How do you make this happen?It’s almost easier to look at what you wouldn’t want to do, as opposed to what you would want to do. You wouldn’t want to burden your salespeople with the responsibilities involved in becoming experts in additional product lines. How much product knowledge can they really attain and still keep up with the changes in their own product line? What about underwriting standards? Carrier hotspots? Compliance and other regulatory requirements?

No, the thing to do is form a strategic partnership with an agency whose sales staff retains expertise in products that complement your own. They are independent, just like you. They are professional consultants, just like you. They are experts in their field, just as your brokers are experts in your field. They uphold the same superior standard of client service you do.

When we match agencies affiliated with the Global Insurance Portal, these are the kinds of matches we make. It’s a win-win-win strategy for all involved.

______________________________________________________________________________________________________

Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

News from our Global Insurance Portal: Your CEO Has Been Kidnapped for a Ransom of $50 Million. Where Will the Money Come From?

Your CEO Has Been Kidnapped for a Ransom
of $50 Million. Where Will the Money Come From?

The kidnapping of corporate executives and billionaires is a big business. Huge criminal syndicates are among the chief culprits, and they commit their crimes on a worldwide basis. Here is but the most recent news to come out of Africa:

“Africa’s youngest billionaire was kidnapped Thursday while heading into a luxury hotel for his morning workout, according to reports. Mohammed “Mo” Dewji was abducted outside the oceanfront Colosseum Hotel and Fitness Club in Dar es Salaam, Tanzania, BBC News reported.”

“Dewji, 43, has a net worth of $1.5 billion and is Tanzania’s only billionaire, according to Forbes. He is the CEO of METL, a conglomerate founded by his father in the 1970s focused on textile manufacturing, flour mills, drinks and edible oils.”

https://nypost.com/2018/10/11/africas-youngest-billionaire-kidnapped-outside-luxury-hotel/

“The abduction of Tanzania’s top billionaire, Mohammed Dewji may have been the first incident to have happened in the East African nation but similar occurrences have also happened in South Africa, Nigeria, and Mozambique this year, data show.”

“The Sunday Times of South Africa reported in April this year (2018) that in three years, over 40 businessman had been kidnapped in South Africa… with sophisticated syndicates demanding ransoms for their safe return.”

http://www.thecitizen.co.tz/News/Mo-Dewji-becomes-Africa-s-sixth-billionaire-to/1840340-4800984-14gwum/index.html

What a horror. Try to imagine the tremendous suffering of these people and their families. You can also appreciate the severe impact on their business enterprises. And don’t forget the huge cost involved in ransoming the victim, and providing subsequent care: the fee of a negotiator; specialized equipment; additional security protection; the ransom itself; psychiatric treatment and rehabilitation…

The tremendous expense involved in rescuing a kidnap victim does not have to burden the family or the corporation. Kidnap and ransom policies are available from specialty carriers through our Global Insurance Portal. These coverages make it easier to redeem the captive, and reduce the emotional – and financial – burden on all.

______________________________________________________________________________________________________

Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How do I know which option to choose for receiving an annuity to guarantee that the remaining money goes to beneficiaries?

I think a commonsense rule of thumb is to take care of yourself first. Take a look at both options and determine the monthly income you will get from each…. Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

When canceling whole life insurance, how much tax is usually imposed, and how it is calculated?

You get taxed on the difference between what you put in, and what you took out. The insurance carrier can provide you with the cost basis – the amount of… Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What changes should be made to our life insurance coverage?

Unless you guys are capital-rich, I can’t see how you would be able to put in enough money now to compensate for having insufficient life insurance.  Bear in mind that… Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Purchasing Term Insurance Online – a Wave of the Future

One of the strategic partners in our Global Insurance Portal provides a platform for consumers to purchase term life insurance online. Shoppers can get prequalified, receive a quote, apply, get approved, and have a policy emailed to them within minutes! Not only that – they have access to live consultants as needed. An overview of this service platform is provided below.

This to me is one major direction in which our industry is headed.  As a matter of fact, an article making this very point was recently published by Rick Huckstep.  Rick is chairman of the Digital Insurer, a keynote speaker, and an adviser on digital insurance innovation.  He publishes insight on the world of insurtech and is recognized as a Top 10 Influencer.

Here are some excerpts from his article:

“The insurance supply chain is typically seen as a linear model. Insurance distribution starts with brokers, ARs and MGAs at the front end. Carriers underwrite risk and decide whether to pay a claim. And the buck stops with the reinsurers. Front to back, risk and premium move from one intermediary to another, each one taking its share. It’s a model that hasn’t really changed over the last century.’

“In the new model for insurance distribution, the supply chain will co-exist with brands and within ecosystems unconnected to insurance.”

“In the new insurance supply chain, there will be fewer handoffs, less friction, less premium erosion. Just like with Amazon, the customer will be absolutely and unequivocally at the center of the ecosystem.”

“Trusted brands will own the customer relationship. These brands know the meaning of loyalty and will value these relationships highly. They also understand how expensive it is to build them in the first place, and how easily that can be lost.”

‘Amazon-like levels of service will become the norm for both insurance distribution and paying out claims. Automation is the key to making it very, very easy to do business.”

“China’s ZhongAn epitomizes everything that is insurtech.”

“It is a 100% digital tech business with around 1,500 employees. More than half of them are developers, and none are in sales. The company also happen to provide insurance, and a lot of it!”

“In the first three years of trading, ZhongAn wrote more than 5 billion policies. It sold 200 million policies in one day alone last November during China’s annual online shopping fest!”

“The thing that makes ZhongAn the darling of insurtech is that 99% of all operations are automated. Quote, policy, premium collection and claims are all automated, which is why the company can process 18,000 policies a second.”

Here’s an overview of the service platform of our strategic partner. If you are a large insurance agency, association, membership organization, retail store, or other financial or non-financial organization that does a high volume of business online, you could be eligible for partnership, and use this platform to enrich constituent benefits and increase revenue.

http://planrisklive.com/direct-to-consumer/

Direct-to-consumer term life insurance purchasing platform for organizations with online services and products for clients, customers, and members:

Your company or organization can offer members or customers the opportunity to purchase term life insurance when going online to purchase your own products or services.

  • Ideally suited for non-financial as well as financial organizations.
  • These include large retail chains; large associations or blocks of associations; and fraternal organizations or coalition of organizations.
  • Each organization must have an online, direct-to-consumer marketing platform in place.

Policies are available from a major life insurance carrier.

  • Premiums are extremely competitive.
  • Simplified application and approval process: non-medical, instant issue, self-service.
  • Once the application is approved, a policy will be emailed in approximately 20 minutes.
  • Live financial consultants are available if needed. Applicants simply have to request assistance at any time during the application process.
  • Up to $1 million of coverage is available for 10, 15, 20, and 30 year term.
  • Final expense policies are also available.
 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

This week’s feature: The Grinder Gets It Done

Prequalification is the process through which the insurance service team makes sure the client gets exactly what they want. The Grinder member of the team is the one responsible for leading that effort.

As a review, here are the members of the team, simply put:

The Finder: the marketer who finds the prospect, and sets the stage for the sale;
The Grinder: the back-room specialist who takes charge of prequalification, and generates quotes;
The Binder: the expert who closes the sale;
The Minder: the rep who provides service, and stays in touch with the client.

In actuality, these individuals are often not solo performers, but serve as the leaders of teams who fulfill the sale.

Here are a few examples:

When the client is a diabetic applying for life insurance through a broker, the Grinder is a general agent who specializes in higher-risk cases. He works through his underwriting contacts to get commitments to the best underwriting they can offer, and then manages the underwriting process to get an approval at the rate quoted. He has a team of case managers, exam companies, third-party service providers, and home office personnel all collaborating on the underwriting process under his tutelage.

When the client is a new homeowner shopping on line for low-cost term insurance to protect her mortgage, the Grinder is actually artificial intelligence embedded in the purchasing platform! This software prequalifies, quotes, underwrites, and approves the application automatically!! Of course, there is a vast team of technical and sales personnel in the wings to intervene as necessary.

When the client is a family that has received a large settlement from a corporate lawsuit, the Grinder is a financial planner with expertise in structuring settlements. His Grinding Team includes a staff of accountants, attorneys, wealth managers, and product specialists who collaborate on setting up the plans and products needed to meet the dreams and goals of the client.


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

This week’s feature: How to Get the Most Out of $1 Million

$1 million is nothing to sneeze at.

If you are someone of limited means, $1 million could be a windfall of extraordinary proportions. Truly a life-changer.

On the other hand, if your personal net worth is $100 million, then $1 million would be relative small change. But it still could be a game changer for the charity to which you gift it. And, if you leveraged it correctly with the proper financial instrument, that million dollars could return many times that amount in value.

Either way, $1 million can make a difference. So, whether you are rich, poor, or in between, to get the most bang for the buck, you really need to be comfortable and confident with the plan for using the money.

That’s where prequalification comes in.

Prequalification is the process used by our insurance teams to select the appropriate product for the client. All the factors of the purchase are aligned prior to making the commitment. The insurer; the funding; the product design; the tax management strategy; and so on are all determined before the paperwork is signed.

This way everybody concerned with the purchase – most importantly, the client – can be certain the purchase makes sense, and that the client will get exactly what he or she wants…

  • that purchasing $1 million of combined life and long-term care coverage, is the right amount for covering personal needs.
  • that investing $1 million in an offshore product, is the right way to minimize taxation, and pass on a family legacy.

In our next article, will speak about how it is primarily the role of the “Grinder” member of the team to manage the pre-qualification process effectively.


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

This week’s feature: How the “Minder” Makes Sure the Expert Works for the Client

This is the sixth in a series of articles describing what the Global Insurance Portal is all about.

In our last article, we discussed the essential role experts play on the insurance service teams of our Global Insurance Portal (GIP). An expert is dedicated to taking excellent care of the client.

There’s a very interesting dynamic employed by the service team to make sure this takes place.

It’s a very common business practice for an advisor to bring in an expert to service the client. Then, typically, the advisor and the expert partner up. The dynamic essentially becomes “the professionals versus the consumer.” The relationship would certainly not be adversarial, but all too often, the consumer can feel the professionals are working more for each other.

That is not the case with the service teams of the GIP. The key is how the Minder plays his or her role.

If you recall from a prior article, the Minder is one of the four types of people who collaborate on an insurance sale:

The Finder: the marketer who finds the prospect, and sets the stage for the sale;

The Grinder: the back-room specialist who takes charge of prequalification, and generates quotes;

The Binder: the expert who closes the sale;

The Minder: the rep who provides service, and stays in touch with the client.

The Minder’s first responsibility is to keep the client’s interest first and foremost. To some extent, this means that the dynamic is one of “Mr. Client, this is what our expert and I can do for you.”

But in the final analysis, the dynamic is really one of “OK, Mr. Client, let’s see what the expert can do for us.” The Minder sits on the client’s side of the table, so to speak, and makes sure the expert does whatever is necessary to help the client become comfortable and confident with the recommendation.

This is how the service teams of the GIP provide the optimal service the client deserves. It takes place whether the client is a small business buying group insurance, or an ultra high net worth individual purchasing an offshore asset protection vehicle.


Our  friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:
 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

This week’s feature: “Who Exactly is an Expert?”

This is the fifth in a series of articles describing what the Global Insurance Portal is all about.

 
In this article, we will discuss the importance of staffing our service teams with experts.

What exactly qualifies somebody as an expert, and do you really need one when buying insurance?

People tend to define expertise solely based on knowledge: product knowledge, tax laws, etc. But that doesn’t really address the bottom line from a consumer’s point of you.

People who buy insurance – whether it’s a simple term life insurance policy, or a complicated offshore asset protection vehicle – need more than simple knowledge. They want to work with somebody who can get it done, and provide exceptional value. It’s the product knowledge, but it’s also the carrier selection, comprehension of the marketplace, management of underwriting, leverage with the key players, etc.

But it’s even more than the total package required to get the right product of the right value in place. The shopping experience has to be first class. Convenience, courtesy, and communication are essential. Most important, the client needs to feel that the service team has his or her interests at heart.

At the end of the day the client should be able to say “my insurance service team took care of me!”

A true expert knows how to keep the client’s interest first and foremost.

In our next article, we will continue our discussion about the business standards upheld by the client service teams working through our Global Insurance Portal.


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

This week’s feature: “The Four Players on Every Service Team”.

This is the fourth in a series of articles describing what the Global Insurance Portal is all about.

My early training in life insurance sales featured a fascinating study of behavioral styles. We new agents were taught the four basic types of people who collaborated on the sale, and were encouraged to concentrate on playing the role that best suited our strengths and skills.

The four types are:

  • The Finder: the marketer who finds the prospect, and sets the stage for the sale;
  • The Grinder: the back-room specialist who takes charge of prequalification, and generates quotes;
  • The Binder: the expert who closes the sale;
  • The Minder: the rep who provides service, and stays in touch with the client.

I have always been a Finder, and have employed a wide variety of marketing methodologies to connect with prospective clients. When a prospect is found, I recruit a Grinder, Binder, and Minder to fulfill the sale and service the client.

Within a captive insure agency, the other team members are fellow agents with the company. But with a Global Insurance Portal, the roster of available players is delightfully deep and broad. Some examples of the teams we assemble:

For servicing citizens of China, I have a Minder who is a financial adviser that speaks fluent Chinese; a Binder who is a consultant that designs private placement plans for citizens of that country; and a Grinder who is a company that stuctures offshore risk and asset management products.

For insurance brokers who need to find policies for higher-risk life insurance candidates, I have a Binder who was a home office underwriter, and who is now a general agent with vast experience with these cases; and a Grinder who is one of the county’s top wholesalers, representing virtually every company in the brokerage marketplace. The brokers themselves serve as Minders, under the business standards that I have established.

These business standards apply to all the service teams that are assembled through the Portal. In our next article, we will explore them further.


Our friend and colleague George Bailey runs a radio show that is committed to financial education for children. This is a truly noble mission because nothing is more important than giving the next generation the proper values and mindset for financial success.

George was kind enough to interview me recently. We talked about my own childhood and career, and the message I would like to send to upcoming consumers of financial products. He conducted a very professional interview, and we both enjoyed it immensely. I think you will too. Here’s the link:

https://www.facebook.com/choosethenickel/videos/vb.418479555280491/490303748098071/?type=2&theater

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Do I need term life insurance or whole life insurance?

Term insurance can be a cost-effective way of meeting a single need for coverage. If all you need a policy for is to pay off the mortgage, then term should… Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Is an indexed universal life (IUL) policy a good investment?

I appreciate the complexity of this product, and sympathize with all the various confusing messages you’re getting. I take this approach for evaluating the product: 1. The bottom line is… Read More

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.