The Difference Between “International” and “Global” Insurance

As I see it, the cutting edge of the insurance industry – primarily the life insurance marketplace – has been “international” coverage. American consulting and brokerage expertise is needed by citizens and residents of other countries, who have a connection to the United States. This connection could be in the form of a business interest, property holdings, or family ties, for example. In special cases, the connection could simply be established by a temporary stay in this country to complete underwriting and paperwork requirements.

But what do you do when the potential client has no connections to the United States, but still needs the assistance of American insurance professionals? There are consultants, brokers, agencies, and companies with businesses based in our country, but with service platforms stretching to other continents. They can provide products to citizens and residents of other countries, competitively priced and providing tremendous value, and in full compliance with all applicable legal and regulatory provisions.

These global cases are the new frontier of our industry – again, in particular, the life insurance marketplace. They are the calling of the 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.

Business Loan Insurance, In a Nutshell

Why you need it:
Lenders want protection against the loss of their investment in case of the death or disability of the borrower.

Who demands it:
Everyone from private lenders, to big banks, to the SBA.

Which policies to get:
Life insurance; disability income replacement; business overhead expense; special risk policies.

How to get it:
Work with brokers who are experts in customizing these coverages for business owners and executives. They are available 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.

The Power of Three in Client Service

To provide the best service to insurance clients, three factors must fall into place. They are:

  • Expertise: the consultant/broker must know the product and the marketplace inside out.
  • Independence: the consultant/broker must be free to choose the company and product most appropriate for the client.
  • Standards: the broker/consultant must focus his or her sales and service completely on keeping the client satisfied.

Easier said than done? Of course. It takes effort to design and manage an insurance consulting and brokerage practice along all three parameters. You have to specialize. You have to make all compensation deals from agencies and carriers secondary to the client’s interest.

And you have to basically invest in your client – allocate the time and resources necessary to earn their trust and respect, and cultivate a strong desire to do business with you.
That is the key to keeping Insurance consumers happy!


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.

Thanksgiving: The Inside Scoop


Here are two videos with insights into our oldest and most cherished American holiday. They are short, informative, and inspirational. Enjoy!

Happy Thanksgiving from Steve, Charlene, Darren, Basim, Debby and the rest of the crew with the Kobrin Office.

“Lincoln and Thanksgiving: the Origin of an American Holiday”

The very first Thanksgiving happened almost 400 years ago—long before the nation was born. How did it evolve into America’s quintessential national holiday? Credit largely goes to two people—one, a name you know; the other, you’ve probably never heard—but should. Melanie Kirkpatrick, senior fellow at the Hudson Institute, gives us the run-down on how a harvest party between Pilgrims and Indians became our oldest national tradition.
https://www.prageru.com/videos/lincoln-and-thanksgiving-origin-american-holiday

“What’s the Truth About the First Thanksgiving?”

“Should Americans celebrate Thanksgiving as a day of gratitude? Or should they mourn it as a day of guilt? Michael Medved, author of The American Miracle, shares the fascinating story of the first Thanksgiving.”
https://www.prageru.com/videos/whats-truth-about-first-thanksgiving

 

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 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.

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.

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.

This week’s feature: “World Class Thinking”.

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

In previous articles, we discussed the mandate of filling the insurance gap for our clients, and how the formation of a network of providers can accomplish this. Today our question is: how should this network of providers be managed so that the right team of experts can be assembled for each client?

To start, I’m going to share some of the teachings I have gleaned from one of my mentors, Steve Siebold. I have never met Steve personally, but I have made the study of his research on world class performance part of my daily routine. These lessons have helped me design my role as the developer of the Global Insurance Portal. They have helped me formulate my global world view, and to define my job as one of teambuilding and organizational development for an array of immensely talented world performers.

They will give you insight into the principles and ideas that went into this innovative form of insurance distribution.

In subsequent articles I will provide more details on how I bring together and manage ensemble teams of these experts.

All the quotes are from Steve’s book, “177 Mental Toughness Secrets of the World Class – the Thought Processes, Habits, and Philosophies of the Great Ones,” London House, United States, copyright 2010.

  • “The world class believes in the philosophy of one collective global economy. True champions know what happens in Bombay affects what happens in Chicago, and what happens in Sydney affects what happens in Tokyo.” p 102
  • “Champions understand the world is an interdependent, complex network in which the aggregate potential is limitless. The great ones know successful people and organizations of the future must rely on the collective collaboration of the team.” p 125
  • “Champions embrace leadership for what it is: the facilitation, guidance, and influence necessary to bring about change… The pros see leadership as building a team, connected both intellectually and spiritually, in order to manifest the vision of the unit.” p 127
  • “World class performers learn to see their greatest achievements as a team effort. They realize grand achievements demand more than any one person can deliver. They enlist other great performers to join the team, and often give most of the credit for their achievements to those talented team members… their worldview of achievement seems to be, ‘it takes a village.’” p 133
  • “If I had to name the single characteristic shared by all truly successful people I’ve met over a lifetime, I’d say it is the ability to create and nurture a network of contacts.” Quote from Harvey Mackay, founder, Mackay envelope corporation. p 140
  • “Champions know the most valuable assets they have are their personal and professional networks. In business, you can measure the power of a player by the size of the Rolodex… professional performers are not only collecting business cards, but also handpicking exactly who they want to network with, based on who can help them the most.”… the great ones build relationships with the movers and shakers of society.” p 140

 

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: “It takes a Network”.

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

In our last article, we discussed the mandate of filling the insurance gap for our clients. How do we help them purchase the wide variety of products they need?

Financial professionals and institutions have come up with a variety of ways to establish themselves as a “one-stop supply house” for their clients. Brokers will become licensed and trained in selling multiple products. Brokerages, banks, and advisory firms will set up multiple product departments. Agencies that distribute one product line, will form strategic partnerships with others who distribute complementary products.

These models do help the client – to a point. But inevitably, they fall short. One broker, one agency, and even one association of agencies can’t keep up with the ever-expanding universe of products and expertise needed by our clients.

My solution to this problem has been to think outside the box – to put aside the notion of forming one organization to be the provider of all the products to my clients. Instead, I have decided to form a network – an association of loosely-connected providers, some with formal relationships, others with informal relationships, that span the spectrum of providers along the total insurance distribution chain, from specialist brokers to reinsurers.

It’s actually an “organization of organizations” – a global insurance portal.

Such a network gives me access to the whole wide wonderful world of the insurance industry, with all the resources my clients need:

Specialists in every product line…

Experts in niche products for specific consumers…

Agencies who provide multiple coverages in multiple states and multiple countries…

Elite distributors of proprietary products of exceptional value…

Excess-market carriers with unique products and underwriting propositions…

Consulting firms, insurers and reinsurers who can create customized products for distinctive applications.

I will elaborate further on how this network operates in the next article,  “Ensemble team service.”



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: Filling the “insurance gap”.

This is the first of a series of articles describing the mission and methods of the Global Insurance Portal.

For those of us in the financial services industry, the ever-present business challenge is simply this: how do we help our clients have it all? They need multiple products; they trust us; and they really don’t have the time or inclination to go shopping for a new broker or advisor every time they need to make a new purchase.

Wouldn’t it be nice if they could come to us for everything? Speaking as an insurance broker, I would love to be able to sell my clients every policy they needed. Once you work out the licensing and other compensation requirements, it would be great to develop additional revenue streams. Even if you don’t get paid, simply referring your clients to other professionals adds value to the relationship.

Every client needs a full insurance portfolio.

Most importantly, it enables the client to build the full insurance portfolio they need. Each one of us must have protection from a huge array of hazards: death, disability, accident, sickness, lawsuit, theft, natural disaster, cyber crime… the list goes on and on. And when you realize that many of us have multiple spheres of concern – personal, business, corporate, estate, charitable – you see just how many policies must be purchased.

Tragically, my experience has been that the vast majority of insurance consumers end up under-insured. They don’t know where to go for many of the policies they need. In some cases, they don’t even know that policies exist that they could use. Sometimes, they will buy coverage from a firm that doesn’t specialize in the product, and end up overpaying or buying inadequate benefits. You could read any number of consumer analyses, and come to the same conclusion.

Most consumers do not have a full portfolio.

The net result is that many families, businesses, corporations, and estates remain exposed to huge unsecured liabilities. When disaster strikes, the show grinds to a halt. Legal and financial problems mount. The morale of survivors is sorely tested – and this is true whether the survivors are family members, or corporate stockholders.

My lesson learned from the situation is this: the number one responsibility of everyone in the insurance distribution chain is to fill the insurance gap. This includes re-insurers, through general agencies, to brokers and advisors – along with every consulting firm and special markets product designer in between.

So, the primary mission of the Global Insurance Portal is to fill the “insurance gap.”  In subsequent articles, we will discuss principles that guide our effort. These include “It takes a Network”, and “Ensemble team service.”


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 policy audits prevent life insurance cost increases.”

 

Most people buy a life insurance policy and stick it in the drawer.  Time goes by, and then – surprise! The price goes up. If it’s a term policy, the policy renews at an exorbitant rate. If it’s universal life, policy costs increase. Even with whole life, an improper dividend selection can result in unexpected payments.

 

We have insurance consultants who will audit your policy and prevent cost overruns.

  • Your current policy will be evaluated for potential shortfalls, cost increases, and liabilities.
  • Alternatives in the marketplace will be identified.
  • An apples-to-apples comparison will be conducted to determine which option best helps you manage your cost of insurance.
  • If needed, a new application will be submitted on your behalf, with the entire underwriting process managed for you.

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.

“A tour of the insurance platforms you can access through our portal”

Here are the insurance brokerage, consulting, and support services you can access through our portal. Each one features an ensemble cast of experts and specialized operations personnel.

As our network grows, we continue to build new platforms. Stay tuned for updates!

 

** One-stop insurance shopping, on a global basis, to secure the assets and investments of your firm, and the firms of your portfolio clients.

You can purchase virtually all the insurance policies needed to cover directors, officers, executives, key personnel, plants, equipment, and all liabilities. Coverages are available for foreign corporations and executives, as well as those based in the US.

http://planrisklive.com/one-stop-shopping/

 
** Concierge insurance brokerage and consulting services for estate and business planning.

You will receive high-end, personalized expert assistance in meeting all your insurance needs related to estate preservation, estate equalization, business planning, legacy planning, and charitable giving.

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

 

** Life insurance for men and women who represent a higher underwriting risk due to health, lifestyle, personal record, or other factors.

You can purchase a competitively-priced policy through a highly specialized “impaired risk” brokerage and consulting team.

http://planrisklive.com/underwriting/

 

** Personalized purchasing assistance for individual life, disability, and long-term care insurance, and fixed annuities.

You will receive high-end, personalized sales assistance from a professional financial consultant, with access to virtually every company and product in the brokerage marketplace.

http://planrisklive.com/personalized-purchsing/

 

** Complete insurance services for CPA firms of all sizes.

Both your staff and your clients can receive top-of-the-line insurance consulting and brokerage services from an industry leader.

http://planrisklive.com/cpa-firms/

 

** Insurance policies customized for corporate directors, officers, and executives.

You can indemnify your corporation against potential losses due to death, disability, legal and fiduciary misconduct, and public disgrace/adverse media exposure.

http://planrisklive.com/corporate/

 

** Disability insurance policies customized for physicians and surgeons.

You can secure your earnings, and that of your professional practice, through a combination of traditional and special market policies.

http://planrisklive.com/physicians/

 

** 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.

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

 

** A virtual insurance department for agencies and firms with clients who need life, disability, long-term care insurance, and fixed annuities.

You can provide additional financial products to your clients, and generate significant passive commission and override income, without increasing overhead or deviating from your core product or service.

http://planrisklive.com/virtual-dept/

 

** Concierge brokerage services for brokers selling individual life, disability and long-term care insurance, and fixed annuities.

You can receive superior compensation and back-office support from one of the largest distributors in the country, in terms of premium written: advanced case design; priority case handling; expedited application entry/case status; strong underwriting advocacy; in-house APS ordering and review; top commissions; and fast-track commission processing.

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

 

** 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.

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

 

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.