Part 3: 10 MORE Underwriting Niches You Might Never Hear About

Posted by: Adam Cavalier on 8/26/2014 | 0 Comments

Last year, I shared with you the top 10 most overlooked underwriting niches our team found in 2013. And in February, I shared with you 10 more.

As the second quarter of 2014 gets underway, our underwriting team has put together another set of 10 underwriting niches that we want to make you aware of for the rest of this year.

did you know:

The following are the top 10 unique underwriting niches to look out for in Q2 of 2014...

Categories: Life/LTC

is MoneyGuard II still the industry leader?

Posted by: Adam Cavalier on 8/6/2014 | 0 Comments

Earlier this year, Lincoln Financial introduced MoneyGuard II, which represented a major change to the product feature set, including the ROP provisions, underwriting classes and available discounts.

While much of the early chatter on the new product focused on these changes versus the prior version, there was not much analysis of its competitive position versus the other players in this market.

That was a problem, as forward-looking sales are seldom, if ever, based on what was available in the past. Clients almost never know that there was a change to the product.

All they know is how well today’s offering addresses their specific needs or pain points, assuming the producer is effective. It’s the producer who is overly focused on what was, versus what is.

Categories: Life/LTC

A Renaissance for Replacement Sales

Posted by: Adam Cavalier on 7/15/2014 | 0 Comments
Over the past 10 years, one common source of new business for a producer has been the replacement sale. Effectively, if the same outcome can be achieved for a lower annual premium, or if a better outcome can be designed for the same out-of-pocket outlay, then why wouldn’t a client act?
Categories: Life/LTC

Decumulation and Selling into a Loss

Posted by: Adam Cavalier on 7/2/2014 | 0 Comments
Most of you will understand the term selling into a loss. Decumulation? Maybe not.

It is, however, a much more descriptive term than “the income phase” as it is literally the opposite of accumulation. As such, certain things that work in a client’s favor during the accumulation phase – like dollar cost averaging – work against them during decumulation.

During decumulation, dollar cost averaging becomes selling into a loss, and it can spell big trouble for an investment portfolio.
Categories: Life/LTC

Living and Dying with Dignity: The Right Combination of Life, LTC and Critical Illness

Posted by: Adam Cavalier on 6/11/2014 | 0 Comments

We have discussed the merits of Long-Term Care and Chronic Illness Riders in this forum on more than one occasion, always in an effort to understand the nuances that differentiate one offering from another.  The hope, of course, is that there is a clear winner.

The reality, unfortunately, is much more complicated.

Consider some of the elements that we have discussed previously:

> The potential challenges presented by the need for any claims under a chronic or critical illness rider to be based on a “permanent” impairment

> The specter of future premium increases in traditional Long-Term Care insurance policies

> The challenge presented by asset-based, single pay contracts that may be out of reach for some clients without significant liquid assets

> The uncertainty at claim time based on mortality discount factors that accompany some chronic and critical illness contracts

There is no one solution without a chink in its armor.

Categories: Life/LTC
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