Monday, October 23, 2017

Underwriting: Battle of the Superheroes

By Lisa Morris, VP of Underwriting and Development at Partners Advantage

As an advocate for the client and agent, many times I’ve been faced with that old inquiry, “Can they qualify for preferred at another carrier?” My answer has always been….it depends. Just as underwriters are different, rates at carriers are even more different. What it all boils down to is, “Do you want to pay less or be called something different?” Often times, an agent/producer will inquire about a rate class before running an illustration to determine if that new rate class will result in an improved premium. Essentially, applicants want the best rate or most bang for their buck, and being called a better assessment doesn’t always meet that requirement as Carrier A at standard may end up being cheaper than preferred at Carrier B. So my advice is to always run the illustration and have that conversation with your client. If initially they wanted to be Superman, they may just realize that being Batman has its perks as well. 

With Great Power Comes Great Responsibility!

Do you have an underwriter with experience on your side? Partners Advantage can help. Contact Lisa “Lee” Morris at 888-251-5525, Ext. 199 or email

For use with financial professional only. Not for public distribution.

This blog is designed to provide general information about the subject matter covered. Partners Advantage Insurance Services and their representatives do not give tax or legal advice. The material in this blog is provided for informational purposes only and should not be construed as tax or legal advice. Guarantees and benefits are based on the claims-paying ability of the issuing insurance company. Keep in mind that most life insurance policies require health underwriting and, in some cases, financial underwriting. Each case is individually underwritten as the severity of medical conditions varies among individuals. Formal underwriting evaluation and pricing is based on the individual characteristics of each case.


Tuesday, October 10, 2017

Importance of Sharing Retirement Awareness

The vision of retirement is laid-back days spent relaxing, enjoying hobbies, traveling, and being with family and friends. The problem is many people don’t properly plan for retirement and aren’t aware of how much should be saved. They then end up working much longer or having to pick up another job just to make ends meet. 

No longer is it the responsibility of the employer to provide a retirement strategy and it’s landing largely on the consumer. This is where a financial professional can provide guidance and show a variety of options for helping build a stable financial future for their client. 

There isn’t a one-size fits all retirement income planning strategy. The financial professional needs to take time to understand their client and find options that are helpful for that particular client. For instance, fixed indexed annuities aren’t suited for everyone, but they may be a good fit for those who:
  • Seek to complement other income sources, such as Social Security
  • Are looking to protect premium, while also seeking potential market indexed growth
  • Don’t already have a type of defined benefit pension plan or guaranteed* lifetime income in place
  • Flexibility is desired in order to be adaptable to changing needs
Most of all, it’s essential to help your client understand the importance of retirement income planning strategies. Then, while sharing retirement options, make sure to inform each client about all aspects of the solution being presented before they make a purchase. Helping them make informed decisions about their future now is important, so they can actually have the ability to enjoy the hard-earned days of retirement later.

Do you have an organization with experienced professionals that can help you grow your business on your side? Experience the advantage with Partners Advantage

Want to learn more? Contact our Partners Advantage Brokerage Team at 888-251-5525, Ext.700.


*Guarantees provided by annuities are subject to the financial strength of the issuing insurance company; not guaranteed by any bank of the FDIC. A fixed indexed annuity can provide annuitization as a means to provide retirement income payments. An alternative option to annuitization could be the purchase of an optional lifetime income rider, a benefit for which an annual premium is charged.

Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, and the reassurance of a death benefit for beneficiaries. Please note that in order to provide a recommendation to a client about the transfer of funds from an investment product to a fixed insurance or annuity, you must hold the proper securities registration and be currently affiliated with a broker/dealer.  If you are unsure whether or not the information you are providing to a client represents general guidance or a specific recommendation to liquidate a security, please contact the individual state securities department in the states in which you conduct business.

This article is intended for educational purposes only and is not intended to serve as the basis for any investment or purchasing decision. Partners Advantage Insurance Services and their representatives do not give tax or legal advice. Accordingly, any tax information provided is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. Encourage your clients to consult their tax advisor or attorney.