Tag Archives: Life Insurance

Millennials Need Life Insurance Too!

Many insurance agents are overlooking or even dismissing the potential of a major client market based on the fact that this demographic was born between 1978 and 1995.

Ah, yes … millennials.young woman millenial

Research shows that agents feel like this group is too young and are in too much debt to even begin talking about life insurance.

Reality, however, is much different.

Millennials are making more than most people realize and they are doing a pretty good job of socking money away. But, most millennials are not even considering life insurance, which means they are not properly covered.

September is Life Insurance Awareness Month, so why not reach out to this group to increase your client base? The industry has long ignored millennials and this is the perfect time for you, as an agent, to change that. This group is the future of the industry and there’s no better time than now to address their needs.

Consider the following …

Millennials are poised for more financial success in the future. They are financial savvy and they are building relationships with people in that area. They might be less likely to be married or have children, but many are heading in that direction. A large portion of millennials are making $100,000 annually and many of them save at least 20 percent of that income.

Offering them an even stronger financial plan is a great opportunity to feed their desire to be financially solid down the road and you can build a relationship that can span decades to come. You can teach them how life insurance provides protection and can also provide cash value.

Many millennials are poised to experience life events in the next month or year. Marriage, a new child or a new home are all coming down the pike for this group. This means they have a HUGE need for protection even if they don’t realize it yet. The best time to take care of this is now, while they are still very healthy and very young.

Another characteristic of millennials is that they tend to plan things out. With that said, why wouldn’t they plan for their family’s well-being should something happen to them? Many of them have coverage through work but it’s not enough. They lack the proper coverage and need to be educated about what is available to them. Your job is to show them they are not properly covered and help them be prepared.

Remember, helping millennials could open up an entire new market for you that you didn’t think about previously. Don’t discredit any potential client because you think they are too young to need our products and services.


More Ways NAA Agents Can Help than ALS Ice Bucket Challenge

By now you’ve probably seen tons of videos on the internet of people dumping ice water on their heads as a “challenge” for charity. The hashtags #ALSicebucketchallenge and #icebucketchallenge have taken social media by storm. The challenge has raised tens of millions of dollars for research on ALS so far. While raising money for charity is a great thing to do, there are other things we (agents of National Agents Alliance) can do directly for these families. But first, we need to look further into what ALS patients go through and what they and their families need.

What is ALS?

ALS or amyotrophic lateral sclerosis is a neurodegenerative disease that currently has no cure. Patients lose the ability to voluntarily move muscles and can eventually become fully paralyzed. The disease ultimately causes the patient’s death. It’s also known as Lou Gehrig’s disease.

What do the patients and their families need?

For most families dealing with ALS, they need emotional support and financial help. An ALS diagnosis can be extremely stressful as the patient and their family deals with the sadness that a life will come to an end soon along with the financial stress of medical bills and final arrangements. While they turn to family, friends and doctors for support, most families have nowhere to turn to for extra finances.

How can NAA agents help?

Some fortunate families have planned ahead and already have a life insurance policy in place that can help with immediate medical bills and cover final expenses. For those who don’t have life insurance, it’s almost impossible to find a company who will insure them after their diagnosis.

That’s where we can help. The Alliance currently offers two Guaranteed Issue Whole Life products from Kemper Senior Solutions and National Guardian Life. Everyone who is between the ages of 40 and 80 can qualify for these products, regardless of their health. Because ALS is most commonly diagnosed in people ages 40-70, most ALS patients will automatically qualify. Although Kemper isn’t available in all states, NGL’s policy is available in every state except New York, so most ALS patients in the U.S. can get coverage. The policy can ensure that the patient’s loved ones won’t have to face the burden of outstanding medical bills, funeral costs and other final expenses.

While the ice bucket challenge has been successful in raising money for future treatments and cures, there are other things we can do to help the families who are suffering right now. If you’re an agent and would like to learn more about these products, visit the carrier pages on www.naaleads.com or take a look at the free product courses on www.naauniversity.com.

If you or a friend or family member has ALS and are interested in life insurance coverage, please fill out your information on www.naalife.com. Our agents will be happy to help you through this difficult time.


How Do You Achieve Success? Just Ask!

What if Andy never asked Fitz to join the Alliance? What if no one ever asked you to join The Alliance?

Many people miss out on opportunities for success simply because they were afraid to ask someone a simple question. You’ve probably thought about asking your neighbor if they needed life insurance or if they need a job, but never asked because you were afraid they wouldn’t be interested. You can’t succeed if you don’t ask! Below are some questions you can ask to help others and become more successful.Don't be afraid to ask questions

Ask friends, family, and acquaintances
Whether you’re in a conversation with a good friend, your sister-in-law, or someone you just met, you can always slip a question into any conversation. Have you ever thought about life insurance? Do you have a retirement plan at work? Have you ever thought about trying a different career? Of course, you won’t ask all of those questions at once, but you if you politely slip them into your conversations you can show the other person that you care about them and their future. There’s always a chance that they could use your help or advice. If not, they might come to you if they think of someone else you could help.

Ask your manager
Some people feel like they’re bothering their manager if they ask questions, but that’s what your manager is there for – to help you succeed! Don’t be afraid to ask questions. How am I doing? What could I do to improve in this area? Do you have any advice about this? Your manager should be more than willing to answer your questions, or point you in a direction of someone else who can help you. If you find that your manager is unwilling to respond to you, don’t take that as a sign to stop asking – you need those answers! Ask other agents or our staff at headquarters where you can find answers to all of your questions.

Ask your team
Just as you are sometimes afraid to ask questions, your teammates might have the same fear. If you haven’t heard from some of your teammates in a while, don’t be afraid to make a quick phone call or email to ask how they’re doing or if there is anything you can do to help them. If they see that you’re willing to help them out, they’ll be happier to work with you and more likely to help you out when you need it.

By asking questions of others you can build relationships, help others, make more sales, build up your team and achieve the success you’ve always wanted. Don’t miss out on an opportunity just because you’re afraid to ask one little question. The answer you get may change your life and theirs!


Facts for Life Insurance Awareness Month from the Alliance

This month LIMRA is celebrating its 10th Life Insurance Awareness Month to raise awareness of the importance of life insurance among consumers and producers. Every September LIMRA releases a fact sheet on American life insurance statistics and reasons why people do and do not buy life insurance. We believe that this research is important, so we’ve made a list of facts from LIMRA that you should know.

Fifty percent of American households, 58 million, believe that they need more life insurance coverage. Whether they already have a policy or not, half of the households in the nation recognize that they do not have enough coverage. It’s our job at National Agents Alliance to try to get those families the coverage they need at a price that they can afford.

Of the people who believe they need life insurance, 86% say they haven’t gotten a policy because they believe it’s too expensive. Americans believe that life insurance costs three times as much as it actually does. These are great facts to pull out when you’re on the phone with a possible client who is concerned about the cost of insurance. You can assure your client that insurance doesn’t cost as much as they think it does and that there are plans available for all different budget sizes.

One fourth of shoppers said they had not considered life insurance until a producer initiated the conversation. There are a lot of people who know little to nothing about life insurance, and would not even think about it if someone didn’t explain to them the importance of getting coverage. Make sure you talk to everyone you know about life insurance; many people would be more willing to buy life insurance if someone would just tell them what it is and why they need it.

Sixty seven percent of those surveyed on financial issues said that “money for a comfortable retirement” was their top concern. Because this is such a big concern for people, it gives you the opportunity to make customers aware of how annuities and indexed universal life insurance can help them during their retirement years.

Hopefully these facts will remind you that there is a great need for life insurance coverage in this country and that you have the opportunity to help real families. People need your help and National Agents Alliance has given you all of the tools you need to protect these families. So get out there, have fun, make money, and make a difference!


Selling Generation Y on Life Insurance

The Generation Y market is a huge and largely untapped market for life insurers, which is bursting with opportunity and need. But, unlike their parents, Gen Y clients need a little more convincing to see that life insurance is still something they should highly consider and incorporate into their financial portfolio.

Believe it or not, Gen Yers are money savvy and are in-tune with their financial outlook. HealthLifePro.com reported that about 83 percent contribute to a 401(k) plan, and nearly 50 percent are auto-enrolled in a savings plan sponsored by their workplace.

Generation Y

Because of this, it’s important that when you talk to a Generation Y client about life insurance that you make the connection between financial planning and life insurance, and focus on life insurance being a portfolio asset for retirement.

For example some life insurance products, like index universal life (IUL), can accumulate cash value which you can use during retirement tax-free! Plus, that cash value is invested in the S&P 500, which combines investing with life insurance coverage. There is also no pre-set limit to the amount a client can contribute to the cash value account.

You can also showcase the living benefits and the value of having them in their portfolio. From long-term care, disability riders and return of premium, there are a lot of benefits to having life insurance, especially with the uncertainty of the future of Social Security.

Also, remind them that obtaining life insurance while they are young and healthy will set them up for lower premiums. Plus, they don’t want to make the same mistakes their parents did by investing too much in the volatile stock market.

In the end, Generation Y clients want to know what is in it for them. So if you can present life insurance in this way, you’ll start seeing a lot more sales from the younger generations.


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