76,000,000. That hefty number – 76 million – is the number of Baby Boomers living today in the United States. As an agent, it’s important to consider how annuities can be an important part of a Boomer’s retirement. There are solid reasons to focus on selling to this particular group. Boomers are at the perfect age to benefit from the consistent income stream annuities provide. And, put simply, no other financial products have been developed at the moment that offer the unique value for investment that annuities do. What should you keep in mind as you talk to your clients about which financial vehicles to choose? In regard to annuities, there are numerous benefits: safety, flexible time frame, tax deferral and shorter surrender charge periods. (Related: 4 Reasons Selling Annuities Is a Stable Strategy) You have likely already considered the benefits that annuities can offer to boomers, so it may seem like a novel idea at first. But there are solid reasons to focus on selling to this particular group. Boomers are at the perfect age to benefit from the consistent income stream that annuities can provide, among other benefits I’ll mention below. And, put simply, no other financial products have been developed at the moment that offer the unique value for investment that annuities do. As a result, annuities shouldn’t be overlooked as part of your selling strategy. It’s important to remember that clients are looking to you to provide an asset accumulation approach that is reliable and will succeed no matter what happens in the stock market. Thus, your approach should include safe options that offer clients what they want most: stability. Because of this, annuities are a strong option that will earn clients’ trust and grow your business at the same time. Why Baby Boomers?While annuities offer benefits to clients no matter what their age, boomers are at the stage in their life where they are demanding greater principal protection. This growing demand largely stems from the fact that they are coming closer to the end of their working years, thus they are becoming more financially conservative and can’t afford to lose what savings they’ve accumulated. With their preferences shifting, there is a growing convergence between what they want and what annuities offer. Thus, more of their asset allocation should be to safer products such as annuities. As they approach and enter retirement, the question becomes what to do with the growing portion that they want to keep safe. Boomers are major investors in mutual funds, but the unpredictable nature of the markets are likely causing increasingly cautious baby boomers to think twice about their existing asset allocation, one that can lead to losses during periods of market volatility. A major benefit of fixed and indexed annuities is that they are not directly tied to the stock market and are protected from downward swings. This makes annuities an increasingly attractive option for your boomer clients, since they are not susceptible to loss when the market is in turmoil. With interest rates higher now than they were a few years ago, annuities give clients a solid interest rate, along with the safety and protection they seek. Money market funds generally can’t keep up with the interest rate of an annuity, and while bond mutual funds sometimes offer adequate interest rates, they don’t provide the security or protection annuities do in case of market turmoil. Bond mutual fund balances fluctuate daily, whereas annuity values do not. Approaching the Annuities ConversationWhat should you keep in mind as you talk to your clients about which financial vehicles to choose? In regard to annuities, there are numerous benefits.
For clients who are becoming uncomfortable risking their money in the stock market, annuities provide a stable solution. Annuities lock in growth without constant monitoring. Annuities offer a simple and safe option that doesn’t require constant upkeep. They guard against the psychological shock of market dips and having to watch a nest egg evaporate with every market move. The end result: annuities are simply one of the best ways for baby boomers to strengthen a portfolio that needs protection and stability. Source: https://www.thinkadvisor.com/2019/04/29/want-annuity-customers-try-baby-boomers/ Image: www.Canva.com
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Medicare Blog | Medicare News | Medicare Information
Selling Annuities? Aim at Baby Boomers
Posted by www.psmbrokerage.com Admin on Tue, Apr 30, 2019 @ 08:22 AM
Tags: Annuities, Baby Boomers
Annuity Opportunities with Phoenix/Nassua Re
Posted by www.psmbrokerage.com Admin on Thu, Oct 25, 2018 @ 04:16 PM
We wanted to make sure you saw our exciting news …… Phoenix/Nassua Re has the highest lifetime income AND The highest fixed 5 & 7 year annuity rates ~ Personal Income Annuity & Personal Protection Choice lifetime income went up, up, up!! Start income as early as 30 days after issue or spousal income on Qualified accounts – we allow both! The PPC Care benefit can cover both spouses on IRA rollovers which is a HUGE benefit to your clients. Click image to view larger version ~ Nassua Re MYAnnuity MYGA fixed annuity rates 4.05% for 5-year term! This is a limited rate so act fast before it’s gone!! (MYGA approved in all states except CA, ME & NY) Click image to view larger version Plan now for the income and protection needed for your clients’ retirement. Not appointed with Phoneix / Nassau Re? Request details here |
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Tags: Annuities, Fixed Annuity, income annuities, phoenix
4 Quick Tips to Becoming a Senior Market Insurance Top Earner in 2016
Posted by Carly Callahan on Thu, Jan 07, 2016 @ 02:49 PM
4 Quick Tips to Becoming a Senior Market Insurance Top Earner in 2016 Our friends at InsuranceNewsNet recently conducted a poll to find just what, exactly, the profiles of success in the insurance industry look like. While most of their readers reported to sell products traditionally associated with insurance, many of the top tier-earning producers tended to have practices that are slightly more hybrid. Lucky for you, Precision Senior Marketing has leveraged the data from INN to give our agents four quick tips to help you get closer to becoming a senior market insurance top earner in 2016.
1. Establish an efficient work environmentWhile many of the lower earners reported having worked out of their home and as a lone employee in their practice, the poll results show that working in an office with at least two to five people rather than from home and alone is a common trend among the top dogs. This one goes without saying, but I'll say it anyway to emphasize: Spending enough time in your work and career is crucial to becoming a top earner in the senior market insurance industry. So, burn that midnight oil and put in 40+ hours per week!
2. Fine tune your work ethic toward prospecting effortsWhile many, if not all, readers reported a vast majority of their business to have derived from referrals, we could not stress enough how important it is to keep in touch with your current clients. With 55% of online users age 65 and over using Facebook in 2014, it is essential for you to create a Facebook Page to service and retain those existing clients. The smallest of interactions, like dropping by a client’s Facebook to post a comment celebrating another rotation around the sun, helps emphasize your appreciation for their business. Not only will your Facebook Page improve the overall client experience, but also serve as a solid foundation for prospects to gain insight toward your role as a senior market insurance specialist. If social media isn't your thing, be sure to send out a birthday card to your clients and give them a ring every once in a while. Other ways that the top earners generate new business include forming strategic alliances with attorneys, CPAs or other financial professionals. Think outside of the box!
3. Invest more time and money into your careerWhile the poll results show that you can expect to hold your insurance license for about 10 years before hitting the $100k mark, there are measures you can take to help get you there at a significantly faster rate. For example, you could diversify your portfolio by adding an array of life insurance products such as term, universal, whole from the senior market insurance industry's leading carriers. Annuities wouldn't be a bad idea, either. If you haven't already considered this option for the near future, you might want to look into attaining your Series 6 license, which allows you to sell variable products, like variable annuities, variable universal life insurance and variable life insurance. According to the poll results from top earners, it's also safe to say that it certainly helps to obtain at least a few designations (i.e. Life Underwriter Training Council Fellow or Chartered Life Underwriter).
4. Partake in extra curricular activitiesMany of the top earners in the poll reported high involvement with industry groups. So, join NAIFA and get out there! Network with colleagues who face similar challenges as you. See what they have to say. It's also advantageous of you, as a senior market insurance specialist, to hold informational seminars. This will not only help with prospecting, but will also assist in displaying your genuine care and concern for educating the senior market. If you're interested in learning more about what it takes to be a top earner in the senior market insurance industry, feel free to give one of our expert marketers at PSM a call today at + 1 (800) 998-7715. It would be an absolute pleasure to assist you in reaching an all-time high in your production. :) To read up on the original InsuranceNewsNet story, please visit: http://www.insurancenewsnetmagazine.com/article/profiles-of-success--what-it-takes-to-be-a-top-earner-3027#.Vo7kJbHnaB8 Sources: www.insurancenewsnetmagazine.com |
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Tags: Annuities, Insurance Agents, Life Insurance
Penalties for Seniors Who Delay Filing for Medicare
Posted by Lauren Hidalgo on Fri, Feb 03, 2012 @ 09:05 AM
Please give us your feedback! Source: KHN |
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Tags: United Healthcare Medicare Supplement, Final Expense, Annuities, Senior Market Advice, Medicare Discussion, health insurance news, industry news, Stonebridge Medicare Supplement
Annual Enrollment Period is Over, What's Next?
Posted by Lauren Hidalgo on Fri, Dec 16, 2011 @ 09:06 AM
By adding additional products to your portfolio you are helping to make your business well-rounded, increase your sales volume, and offer another way to market to your prospects and clients. Plus the more policies your clients have with you, the more likely they are to keep their business with you as their agent. Please give us your feedback! |
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Tags: Final Expense, Annuities, Medicare Supplement, Heartland National Medicare Supplement, Customer Service, Building Client Relationships, Short Term Care
Stay on Track During the Annual Enrollment Period
Posted by Lauren Hidalgo on Fri, Oct 28, 2011 @ 08:57 AM
Precision Senior Marketing will be here to support all of our agents during the Annual Enrollment Period. If you have any questions or concerns, please contact your marketer today at 1-800-998-7715 and they will be happy to assist you. Please give us your feedback! |
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Tags: Final Expense, Annual Enrollment Period, Annuities, Sales Tips, Senior Market Advice, Forethought Medicare Supplement, Sentinel Life Medicare Supplement, Customer Service
![]() Like pork, annuities have long been misunderstood by the public and have stood in the shadow of a more prominent retirement product – mutual funds (think chicken). However, the combination of a frail stock market, a severe recession, and millions of Americans nearing or entering retirement has created a new focus on creating guaranteed retirement income. Make no mistake, annuities are more difficult to fully understand than most other traditional insurance products and involve higher fees, however, the benefits often offset the higher barrier to entry. In the short term, consumers holding annuities see little to no loss during stock market downturns, especially if they have a safety rider. Over the long term, they can have a guaranteed income stream in retirement that can be life saving. Depending on the specific product, annuities can be withdrawn without penalty in certain circumstances, such as for medical emergencies or urgent need for nursing home care. Additionally, other annuity products can pay out benefits to a holders’ beneficiary upon death similar to a final expense product. Due to the complexity of annuities, it’s best to contract with an organization whose sole focus is on annuities. For this reason, we have partnered with The Annuity Shoppe to offer contracting for annuities. With more than 60 years of combined staff experience in the industry, The Annuity Shoppe continues to successfully provide agents with everything they need to be successful in the annuities market. As we’ve said before, enhancing the diversity of your portfolio is crucial to business development. Adding annuities to your portfolio may seem like it may fall outside the scope of your business, but you may be surprised at how complementary a product it can be upon further research. With more and more risk-adverse consumers (which probably describes the vast majority of your clients in these times) inquiring about this increasingly popular product, your time would be well spent exploring the possibility of offering annuities to your clients. |