Practice management

The need for additional Life Insurance for today’s working Americans is compelling. Consider the following from the front cover of USA Today on Dec. 3, 2010: “Millions of Families Missing Safety Net.” “The percentage of U.S. households with Life Insurance is at its lowest in 50 years.” “Only 44% of households have an individual life insurance policy.” …

According to an online survey of 805 life insurance policyholders across the United States, the majority (70%) of them are confident their beneficiaries would know how to file a claim. In fact, most have taken proactive steps to help them prepare.

Half of America’s households (about 58 million) claim to be underinsured when it comes to life insurance, according to a new study from LIMRA. The study, “Trillion Dollar Baby Growing Up,” revealed as much as $17.5 trillion in untapped sales potential for the life insurance market.

The term “social media” was recently added to the Merriam-Webster dictionary, reflecting the reality of its presence and power in both business and social settings. But there is a consumer-driven evolution underway in social media that is portending the end of an era, according to Brian Solis, an expert in new media and principle at Altimiter Group, a research advisory firm.

When I say Bernie Madoff, what do you say? Without more than a second, you might generate sinister synonyms such as “thief,” “crook,” “con-man,” or “man with no ethics.” The list could go on and on. And as we all know, the sad fact is that the damage Madoff inflicted was not just monetary. He also crushed the public’s opinion of the advisery community. Those of us in his wake have been given the task of…

Financial advisers and human resources managers looking for new and more effective ways to interact with their Baby Boomer employees should be inspired by a new report that finds social networking participation among this highly coveted group surged more than 60% in the past year.

In part two of a two-part blog series Robert Winslow, principal of Elm Street Partners, continues his blog about some of the opportunity that the new health care legislation has brought apart. Supplemental Coverages. PPACA accelerates a market change that has been evolving for some time, one that sees real business growth from supplemental coverages versus the base health plan. Supplemental products have come a long way in recent years, both by voluntary carriers and…

As we approach the beginning of the NFL season following the protracted collective bargaining debacle, I thought I would provide some commentary about business mergers.

Most industries change over time, but the insurance and financial services industries change every day. While it is imperative that brokers and advisers perform their due diligence prior to entering these sectors, it is even more important that they keep up with the ever-changing trends, rules, regulations and laws. Understanding and adapting to these changes is important not only for our clients, but also for protecting ourselves. This is an industry where making a small mistake or oversight, or not fully understanding something, can cost our clients thousands of dollars.

In 2012 the rate of medical inflation will continue to rise, PricewaterhouseCoopers reports. Employers are frustrated - not so much by the high cost of the medical as by the apparently intractable upward cost trend that is making benefits plans unsustainable.

Crossing the value gap should be a top priority for benefit sellers. The value gap is a chasm that exists between how most advisers sell, which buyers view as ho-hum, and a wonderful place where relatively few sellers travel, but buyers love. Taking your buyers across the value gap lands you in a place where buyers are more frequently willing to buy and where you'll have more fun than a kid in a candy store.

After 10 years as a sales coach to benefit professionals - both core and voluntary - I have had an epiphany of sorts. My epiphany was this: Sales success is really very simple, regardless of your product or service. It boils down to this:

After going through all the normal marketing steps for his firm - direct mail, email and referral promotions, among others - benefits broker Jim Edholm has added another: videos.

The U.S. health care payments industry is undergoing changes as it grapples with inefficiencies in how patients, payers and providers exchange information and money. At the same time, it must respond to economic pressures, government reforms and other dynamics while it focuses on quality, value and cost reduction.

EBA Advisery Board brings diverse backgrounds, experience.

In these days of increasing reliance on electronic communication and high-tech Internet applications, in-person meetings have never been more important for Darrell Phillips. By holding regular face-to-face meetings with the 4,000 employees at his 41 501(c)(3) and governmental hospital plan clients across the state of Kansas, Phillips' mission is three-fold: 1) Build trust with the employer; 2) Serve the purpose of the programs by helping employees take advantage of their benefits; and 3) Let employees know they have access to a resource who truly cares about them.

Recently, I was asked to present in a sales seminar for one of our clients. The topic was something near and dear to me: "Changing from a product-based sales approach to a solutions-based approach."

Longer life expectancies and the individual responsibility for retirement savings are combining to challenge conventional thinking and to re-shape the relationships between employers and their older employees. Check out five significant practical benefits for plan sponsors.

With investors falling in and out of love with Wall Street at a rapid pace, some financial advisers are finding themselves playing a new role — that of marriage counselor. As financial markets remain in turmoil, couples are getting more anxious as they watch their nest eggs wither.

The Employee Benefit Adviser App is a must-have resource for benefit brokers, advisers and consultants who help employers build and manage their group benefits programs, be they health, retirement, voluntary or non-insurance. Choose from our helpful apps and download them today!