by Ed Hinerman | Feb 3, 2018 | business life insurance, CEO life insurance, clinical underwriting, Hep C Cure, HIV business life insurance, insurance, life insurance, life insurance approval, Type 1 diabetes
To say that the nature, the underwriting and the life insurance products have changed and changed remarkably over the last 10 years is an understatement. There is the old world of life insurance and now we are really, truly living in a new world and customers, both...
by Ed Hinerman | Jan 4, 2018 | approval, business life insurance, CEO life insurance, Hep C Cure, HIV business life insurance, HIV life insurance, indexed universal life, insurance, life insurance
2017 was a fantastic year for progress in life insurance underwriting. Business boomed for those companies bold enough to acknowledge and embrace major medical breakthroughs and the life insurance agents that represented those companies could finally announce fair...
by Ed Hinerman | Oct 25, 2017 | appropriate life insurance recommendation, bait and switch, budget, insurance, life insurance, life insurance approval
Big old double asterisk here**. In consideration of replacing your life insurance policy with a new one that has potentially better rates or more death benefit or a longer (or shorter) term length, NEVER, and I really mean never, cancel the policy you want to get rid...
by Ed Hinerman | Mar 12, 2017 | indexed universal life, life insurance, life insurance non taxable, lifetime guaranteed UL, over 50 life insurance, retirement life insurance, universal life
I don’t think there is a topic I have ranted and raved about more than the universal life insurance products with non guaranteed cash value features that are collapsing left and right due to the low interest environment imposed by the Fed over the last 15 years....
by Ed Hinerman | Feb 24, 2016 | assumptions, bad customer service, bait and switch, guaranteed level premium, illustration, insurance, life insurance
Over the course of the last 30 years of being in and around the life insurance business I’ve seen agents and companies (and customers) make the products into the cure, the panacea, the over simplification and the shortcut to their end goal. Keep in mind that...
by Ed Hinerman | Sep 3, 2015 | bad customer service, bait and switch, claim, Conversion to a permanent product, guarantee, insurance, lapse, life insurance, Protective Life
I’ll leave the definition of “It” up to the reader. In a Protective Today newsletter release dated 8/31/2015, Dave Sheridan, a vice president and national sales manager for Protective Life felt the need to help agents understand why they are a much...
by Ed Hinerman | Jun 8, 2015 | bad customer service, bait and switch, budget, cash value, guarantee, guaranteed level premium, honesty, indexed universal life, insurance, life insurance, life insurance lapse, lifetime guaranteed UL, loyal customers, rate increase, universal life
Transamerica Life Insurance, formerly Transamerica/Occidental Life may have just taken over the coveted position in the life insurance industry that Protective Life has held for years, the Turd In The Punchbowl Award. They sent out the this email today announcing that...
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 | Jul 1, 2014 | assumptions, beneficiary, compliance, contingent beneficiary, death benefit, insurable interest, insurance, life insurance, life insurance claim
“Dad said he had life insurance but we can’t find a policy and don’t know what company it was with”! “My husband told me not to worry because he had a life insurance policy that would take care of everything, but now that he’s gone...
by Ed Hinerman | Nov 6, 2013 | insurance, life insurance, term insurance, universal life, variable universal life, whole life
I was following a conversation in another blog a few days ago and one guy’s opinion was that term life insurance isn’t worth the paper it’s written on because, according to him, only 1.7% of term life insurance policies ever pay an actual claim. The...
by Ed Hinerman | Mar 12, 2013 | guarantee, Independent agent, indixed universal life, insurance, life insurance, universal life
I had an agent questioning me about indexed universal life today. He admitted he was a new agent. He also admitted that one of his primary attractions to the product were the high premium and high commission. Call me old fashioned but I emailed back to him and asked...
by Ed Hinerman | Dec 1, 2012 | estate taxes, final expense life insurance, insurance, life insurance, no lapse guarantee, over 50 life insurance, rate increase, universal life
I get calls every once in a while from people whose spouse or parent is literally terminally ill and many times imminently terminal. I think they know the answer already but I understand that they see what’s coming and they know it’s going to be a financial hit and,...
by Ed Hinerman | Nov 7, 2012 | budget, cash value, high net worth, indixed universal life, insurance, life insurance, no lapse guarantee, rate increase, universal life, variable universal life, whole life
Whether there is anything to the Mayan calendar that predicts the end of the world next month or not, there is one thing that is an absolute life insurance fact. Because of actions by the NAIC, National Association of Insurance Commissioners, with the strict...
by Ed Hinerman | Jul 10, 2012 | cash value, conversion, insurance, life insurance, term insurance, universal life
Banner Life has and has had for some time the most competitive no lapse guarantee universal life products available. It has been a standout product in the industry because it not only guarantees a death benefit to age 121, but at no lapse UL prices it also has a cash...
by Ed Hinerman | Feb 25, 2012 | accelerated death benefit, conversion, customer service, guarantee, honesty, Independent agent, insurance, life insurance
If good customer service cost less than bad customer service, which would you choose. Trick question, right? Let me qualify that question a little. If you knew ahead of time that you were making a major purchase that offered little or no customer service after the...
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