The Ark Group Blog

Does your client have Cash Value that isn’t being utilized properly?

DPhillips — Fri, 23 Sep 2011 18:05:51 +0000

What was the purpose for the cash value in the first place? If the cash value isn’t needed, why not move it into a vehicle that would allow your client to maximize their dollars. Depending on your client’s unique situation, you could help your client maximize their dollars by moving the Cash Value into a Guaranteed Universal Life Insurance policy which would give them a significant amount more of Death Benefit.

Here is a recent example:

56 year old, Preferred risk male who owned a Whole Life policy
Whole Life policy had $130,000 in cash value
Whole Life policy death benefit was $508,000
Whole Life policy continued annual premiums were $7,000 until age 100
Client did not need the cash value
Client primarily needed and wanted death benefit
This client chose to move the cash value into a Guaranteed Universal Life policy and short pay the premiums so that when he retires, there would be no further premiums due.

The above scenario allowed the client to maximize their dollars by almost doubling his death benefit while significantly lowering his future premium outlay. This could be a great option for one or more of your clients as well. Call us when you are reviewing your next client file so we can help you design a case that is innovative and puts your client’s money to its best use! We look forward to helping you maximize your client’s un-utilized Cash Value!

Thank you for your business!

September is Life Insurance Awareness Month

DPhillips — Wed, 07 Sep 2011 15:21:13 +0000

Life Insurance Awareness Month (LIAM) is a great opportunity to talk to your clients and prospects about their life insurance needs. A recent LIMRA study found that 30% of households in the U.S. have NO life insurance coverage…30% represents 35 million people. In addition, many of those people who already have Life Insurance do not have enough coverage. With September being LIAM, this is a perfect opportunity to either provide new coverage or review your client’s current coverage. Please click here for a link to Lifehappens.org’s LIAM tool kit. Call us today to get a quote or to begin working on a client file!

Update: NAIC Suitability Model Regulation Requirements of Producers

DPhillips — Tue, 30 Aug 2011 15:02:45 +0000

States have adopted the NAIC Suitability Model effective as of the dates indicated in the below chart. All producers selling annuity products must complete a one-time four-hour general annuity training course in the states indicated below. A grace period for previously licensed producers may be available as indicated in the chart below. The regulation also requires that carriers provide a product-specific training in order that producers may have an adequate knowledge of the specific mechanics and material features of the particular annuity being purchased.�

State	Effective Date	Training Requirements		General Annuity Training Grace Period Date
		Product Specific	General Annuity
TX	September 1, 2011	Yes	Yes	March 1, 2012
SC	September 25, 2011	Yes	Yes	March 25, 2012
MD	November 1, 2011	Yes	Yes	May 1, 2012
HI	January 1, 2012	Yes	Yes	January 31, 2012
IN	January 1, 2012	Yes	Yes	July 1, 2012
KY	January 1, 2012	Yes	Yes	July 1, 2012

Previously Adopted States: IA, CO, RI, WI, DC, NY, OH, OR, WV, ND

Our new website is up and operational.

admin — Thu, 25 Aug 2011 16:38:18 +0000

There is some great new agent resources and information on the site. Check out the underwriting section under Agent Tools for a lot of information to help you in writing better business. More info and quoting resources to come as well…. Check … Continue reading →