Marketing

With more than 8.1 million Americans protected by long-term care insurance coverage, there is no doubt it’s a product that appeals to baby boomers who don’t want to end up in a nursing home or be dependent on others. However, it’s not a fit for everyone. For example, most young married men would be better off focusing on building a nest egg and buying life insurance protection. …

For decades, health care consumers have been told once you have a problem, then you should go to the doctor. But now, as high-deductible health plans become ever more prevalent, employers are encouraging employees to go to the doctor first - before they get sick - and in turn the employer will often cover the visit at 100%.

After the June 28 Supreme Court ruling that found the Patient Protection and Affordable Care Act to be constitutional, many group medical producers felt that their business was over. I want to begin by saying that there has never been more opportunity than there is right now and that there will be for the foreseeable future.

The recent ruling of PPACA has created even a greater need for accurate benchmarking data proving the age old adage that if you can’t measure it then you can’t manage it. Advisers armed with information that drills down through national, regional, state, industry and company size will be better prepared to assist larger employers with employee acquisition and retention, and helping smaller employers make intelligent decisions on whether or not to pay or play. …

Voluntary accidental death and dismemberment coverage received the highest rating (43%) from leading carriers selecting it as a ‘very profitable’ product line, according to The Frontline Report, Worksite/Voluntary Product Trends 2012.

Today, this one market is estimated to be a $40 billion industry in the United States, says EBA contributor Sam Fleet. He shares in today’s BeAdvised why approaching this market with a broader view can provide an opportunity for brokers to adapt their business models and thrive, especially as the new health care landscape takes shape.

As a sales leader in your organization, one of the most critical functions you perform is to help young producers learn and refine their sales skills. And, yes, selling is a skill, not a personality trait.

When asked about their experience with selling workplace voluntary benefits, most brokers often give one of two replies:

Employees know very little about disability coverage. But when they learn about it, they often want it and are willing to pay for it. A Consumer Federation of America and Unum national survey finds that only 13% of surveyed workers know "a lot" about disability insurance, and less than half (47%) know what its benefits are, according to the survey of 1,200 employees. Yet, when informed about DI, a majority (90%) want the coverage, and 86% are willing to pay half of a $30 average monthly premium, and 56% are willing to pay the entire premium in order to gain income protection should they become disabled. According to a 2012 Social Security Fact Sheet, almost 1-in-4 of today's 20 year olds will become disabled before age 67.

All too often we get caught up in day-to-day activities and forget who it is that we ultimately serve: employees. Without employees signing up for benefits, querying accounts, using services provided and generally trying to take care of themselves and their families, we wouldn't have businesses to run. To bring this point home, I offer the following composite sketches (based on anecdotes from brokers, vendors and employers) - oh to be a fly on the wall ...

If you are looking for an idea that can capture the attention of employers, consider helping them provide employees the means to bridge the gaps in their medical plan. I have identified five distinct gaps that, if addressed, can create a huge sales opportunity for group health agents.

As attention to the importance of creating retirement income grows, a new MetLife study finds that plan sponsors of the largest workplace retirement plans and their recordkeepers have taken the first steps to help participants secure retirement income — but a lot more work needs to be done to pave the way for participants to begin to take action.

Benefits are typically structured to reward and motivate employees who stay at the company for the long haul. For example, retirement rewards and paid time off usually get sweeter as time goes on. Dangling a long-term benefits carrot makes sense for driving retention right? — Perhaps not when it comes to Gen Y workers. As companies focus on attracting and keeping a pipeline of Gen Y employees, I maintain that, when it comes to benefits,…

Health care and the Supreme Court are expected to take center stage on Thursday. The announcement will telegraph the futures of many, regardless of what the high court says. Whatever choice the court makes has consequences that will change your direction and that of our industry for a long time to come, says EBA contributor Craig Davidson.

From the agent's point of view, critical illness insurance can help open the door to new clients as well as to differentiate from other agents. Most important of all, it can significantly increase the agent's revenue.

New findings from Tiburon Strategic Advisors reveal some interesting facts about advisers’ appetite, or lack thereof, for headline grabbing products such as alternatives and exchange-traded funds.

One of the most difficult hires for any agency to make is to hire a new producer that will produce on par with your most successful producers. While I’m not suggesting giving up on that effort, I would encourage you to make sure you are reviewing your current production team and constantly rehiring the successful producers you already have. Huh?! - Well, not necessarily in the literal sense …

An effective dialysis management program optimizes the way kidney dialysis is paid for and how treatment is provided. Read as Sam Fleet explains in today's BeAdvised how insurance brokers can help companies capture these savings by bringing them together with innovative benefit managers.

Benefits sales technology can help you sell more. It's a proven fact, but unless you've tried the right technology and someone trained you how to make the technology sing like a song bird, you would not know.

If you are like most of the group health insurance agents that I speak with you sell new groups one of three ways: 1) You wait for the occasional referral; 2) You call companies asking for a chance to quote on their health plan; 3) You call companies asking for an opportunity to stop by and introduce yourself.