by Ed Hinerman | Jul 15, 2020 | life insurance, term insurance
I wrote this post nearly 10 years ago and it seems worthy of an update on my continued disdain for many agents and agencies, especially the mega life insurance agencies like Selectquote. They still don’t get that they are in a service industry. Does Being Big...
by Ed Hinerman | Nov 11, 2019 | life insurance, New York Life, term insurance
New York! New York! The state of New York has always been challenging for those looking for life insurance. There are a lot of life insurance companies that don’t even seek approval to sell their products in New York. New York’s Department of Financial...
by Ed Hinerman | Aug 24, 2019 | life insurance, return of premium UL, term insurance, universal life
“Change is the only constant in life” according to Heraclitus. Never met the guy but he definitely hit the nail on the head. And then Robert Burns doubled down on the thought with “The best-laid plans of mice and men often go awry”. Term or...
by Ed Hinerman | Nov 16, 2016 | guarantee, guaranteed level premium, insurance, life insurance, term insurance, universal life
Following up on my post yesterday about Voya Life Insurance’s decision to do away with all of their guaranteed term and universal life products and in recognition of their self declared 2016 Most Ethical Company status, I have just a few more points that I think...
by Ed Hinerman | Oct 17, 2016 | indexed universal life, insurance, life insurance, term insurance, universal life, whole life
Term life insurance vs whole life? Term life insurance vs universal life? Term life insurance vs indexed or variable universal life? Term life insurance vs other term life? The life insurance industry has made much of these questions over the years and two things are...
by Ed Hinerman | Oct 11, 2016 | bad customer service, conversion, customer service, insurance, life insurance, term insurance
Well gosh, it makes no sense to run from good customer service if you’re the customer. Especially a life insurance customer, and I say that for reasons I’ll explain in this post. You want it. It makes you feel respected. You deserve it!! But here’s...
by Ed Hinerman | Oct 3, 2016 | application process, guarantee, indexed universal life, insurance, life insurance, rate increase, retirement life insurance, term insurance, universal life
This is the 2015 version of the age old question, why term versus whole life? Some of the answers are the same and some are vastly different, I would say even dangerously different for those who are serious about their needs and just looking for the right product to...
by Ed Hinerman | Mar 12, 2015 | approval, assumptions, budget, cash value, conversion, Conversion to a permanent product, death benefit, guarantee, indexed universal life, insurance, life insurance, no lapse guarantee, rate increase, term insurance, universal life, whole life
I think I’m finally coming to grips with the fact that the life insurance learning curve isn’t really a curve. It’s more the path of a tether ball. It goes round and round, changing speed, direction and attitude with each full turn and then, BANG, it...
by Ed Hinerman | Feb 17, 2015 | customer service, death benefit, honesty, insurance, insurance quotes, life insurance, term insurance, whole life
It’s been interesting over the years to see the amount of money that is thrown away because a life insurance client, not knowing any better, simply buys from the wrong company. When you couple that with the agents, especially in impaired risk life insurance, who...
by Ed Hinerman | Feb 4, 2015 | Burial insurance, children's life insurance, conversion, insurance, life insurance, term insurance, Type 1 diabetes, whole life
There are really only two reasons to consider life insurance for your children. One would be if a low cost burial policy, as much as most parents would rather not think about that, is easier to manage than actually coming up with burial costs out of pocket rather than...
by Ed Hinerman | Jan 7, 2015 | beneficiary, cash value, conversion, Conversion to a permanent product, guarantee, guaranteed level premium, indexed universal life, insurance, life insurance, life insurance claim, term insurance
Isn’t it true of everything in our lives if we’re over 50, change is happening and with life insurance the companies are making sure it is “Advantage Company” in their tennis match with customers. Having lost count of the number of life...
by Ed Hinerman | Nov 18, 2014 | assumptions, cash value, financial adviser, guaranteed level premium, indexed universal life, insurance, life insurance, lifetime guaranteed UL, term insurance, universal life, whole life
Greed strike a chord with you? After years of looking at indexed universal life insurance and hearing all the arguments and seeing all of failures, it occurs to me that the bigger the cash value numbers an agent can show a potential client, whether they are based in...
by Ed Hinerman | Oct 29, 2014 | business life insurance, buy/sell life insurance, cash value, CEO life insurance, death benefit, insurable interest, key man insurance, life insurance, term insurance
There are definitely two schools of thinking on the subject of how to handle executive life insurance, especially key person policies. Just to put this in perspective, I’m kind of an old guy and I would call the idea of using cash value policies to fund key...
by Ed Hinerman | Oct 28, 2014 | budget, cash value, guaranteed level premium, impaired risk life insurance, insurance, life insurance, life insurance underwriting, term insurance
Ah, the good old days. Milk was 50 cents a gallon. Gas was 25 cents a gallon. A new car was under $2000. And life insurance, well, life insurance was so expensive that people had to pay for it by the week. The good old days of life insurance are where we are. In spite...
by Ed Hinerman | Sep 17, 2014 | AARP, conversion, Conversion to a permanent product, Independent agent, insurance, insurance quotes, life insurance, Protective Life, term insurance, Type 2 diabetes, whole life
I got a call a few days ago from a couple who are both 74 years old. They have had Protective term life insurance in force for several years and decided to look at converting $25,000 for final expense purposes since their conversion option ends next year. Seeing...
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