Thursday, September 26, 2013

Best Practices in Using Professional Designations:

In addition to the items described below, an agent should confer with his/her state’s department of insurance, the carrier, any applicable broker dealer and specific agency rules to ensure they are meeting with all appropriate standards.

  • Have appropriate training or credentials to validate your designation
  • Maintain your right to use and display your approved credential by performing CE tasks or recertification as required by the issuer
  • Choose to pursue those designations and credentials which provide a robust curriculum and credentialing process, including examinations.

Avoid the Following:
  • Do not use acronyms intentionally similar to other accredited designations which further obscure your qualifications
  • Do not use designations that can be earned by simply paying a membership fee without any meaningful credentialing or testing process
  • Do not use a designation that you have not earned or maintained (kept current)
  • Do not use “nonexistent or self-conferred” designations
  • Do not use academic credentials earned through school, training or specific experience that you have not actually earned.
  • Do not use designations offered by certifying organizations when:Minimal oversight exists to affirm that the candidate has competently completed the training and certification program
  • Measures for monitoring and disciplining designees are nonexistent
  • Lack of or minimal emphasis on ethics

This is an excerpt from NAFA Principles for Use of Professional Designations ©2013 NAFA.
Used with permission - Partners Advantage is a Premier Partner of NAFA, the National Association for Fixed Annuities. View the full article here.

For financial professional use only. Not for use with consumers.
This article is being provided to you by Partners Advantage Insurance Services, LLC. We believe this information to be reliable as of 08/07/13, but we do not guarantee the accuracy or completeness of the information.

Thursday, September 19, 2013

Tips to Create Quality Referrals

Added Tips:

  • Invite existing clients to attend a workshop and bring someone they feel you can help.
  • Hold a client “Bring a Friend” event.
  • Maximize client relationships and obtain quality introductions by integrating the Bring a Name Campaign (BANC) Referral Program. This can help you gain at least 2 referrals for every buying unit or (RPC) revenue producing contact.
  • Include introductions and referrals as a part of client appreciation events.
  • You have to have the frequency of contact so your clients are aware of what you do. A good client management system makes a big different in how your run your practice. It helps track the history and maintain the relationship of all your clients. You need to get your clients into a program and start tracking  your business and managing your relationships. 1308030

Thursday, September 12, 2013

Annuity Suitability Tip: Write a Cover Letter to Support the Sale

Sometimes the financials on the suitability form just don’t tell the story as to why this sale makes sense for the client. Including a cover letter explaining the basis of the sale or the replacement of the clients’ annuity goes a long way in making a carrier feel more comfortable with the purchase.

A cover letter should explain the story behind the sale as well as clarification on the following points:
Why does the client want to replace the contract? Are there any losses incurred with the replacement? How does this annuity purchase meet your clients’ needs? What are the benefits to the client?

Providing the information upfront and packaging it all nicely together, much like how a mortgage officer would package a loan application to the bank, can help increase your chances of having your application processed faster and will minimize any hiccups. This could mean a more efficient transaction for you and a smoother experience for your client. Regulation is always evolving, so we must evolve along with it.

Request the full article here.
1212007 For financial professional use only. Not for use with consumers.

Wednesday, September 4, 2013

Life Insurance Awareness Month is Here

It's easy! You can use the agent tools from the LIFE Foundation. They have flyers, videos, marketing and social media resources.  They even have a Marketing Guide here. 

The theme for 2013 Life Insurance Awareness Month is Life Happens. Record-setting NFL quarterback, Boomer Esiason, will be playing for “Team Life Insurance” as the spokesperson for Life Insurance Awareness Month. Learn more here.

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