Regardless of the fact that many of you are vacationing and taking family time this summer (Susan and I included) there are a great many items that we need to bring to your attention. Here are the bullet points to make your reading quick and light:
- Long-term care insurance sales are alive and well at BJFIM/Paradigm. We want to thank all of you who helped make July one of our best new business months of the year. We know that you’re selling into a head wind but keep up the good work.
- The MetLife individual and multi-life LTCi fire sale is in full swing. As I’ve mentioned in several previous emails and Blogs, Met will be introducing “revised” new business rates on VIP 2 sometime in the fall. From experience in other states where this has already happened, the 5% compound inflation rates will increase as much as 40%. If you have any outstanding individual or multi-life quotes now is the time to motivate your prospects with this news. We know this is happening we’re just not sure exactly when or how long we’ll have to harvest the bounty. Now is the time to act.
- We are rapidly moving towards more linked LTCi product sales. State Life (OneAmerica) has a terrific portfolio of life and annuity combo products. We also are pleased to represent Genworth’s TLC (single premium life+ LTCi combo) and TLC-A (SPDA + LTCi combo) product line and Lincoln Financial Money Guard (single premium life + LTCi combo) products. The market niche are clients age 65+ with investable assets of $750,000 and up. Purchasers of these products have generally considered traditional long-term care insurance in the past but have chosen to self-insure. These products provide them with liquidity, access to their money if they change their minds and leverage for the long-term care risk.
- We are in the midst of major changes to our internet presence. First, Paul Kaplan and I are pleased to introduce our new Paradigm Insurance Marketing website. Here you will be able to download applications for most of our key insurance carrier partners, run term life insurance proposals work through many of the thorny issues surrounding sub-standard life and long-term care insurance underwriting. Second, Susan and I are now working on significant changes to our Barry J. Fisher Insurance Marketing website. We will be making it more user friendly and easy to navigate. Both websites will be linked so you can work between them efficiently. Please be patient and we’re certainly open to suggestions.
- Mark your calendars for October 8, 2009! We will be hosting our fall broker meeting with a number of our key carrier partners. Topics will include traditional and multi-life long-term care insurance as well linked and asset based combo products. The meeting will be at the Woodland Hills Country Club, 8:00am to 1:30pm and will include lunch and continuing education.
- Last but not least we will be having a webinar on Thursday, August 27th at 11:00am PDT. We will be sending out an invitation in the next few days. This will be short, sweet and to the point. We just want to get you primed and ready for the end of the year push.
Thanks again for your business. We’re looking forward to talking with you at month end and seeing you in October.