I just finished a case that started as a call to the radio show, Money Wise. This listener’s agent encouraged him to replace a whole life cash with a new term policy and put the $45k cash value in an annuity. “Term is cheaper and the cash value will earn more”, sounded plausible. Mark Biller […]
One purpose of IIA is to shine light on deceptive sales practices in the industry in order to help insurance consumers spend their premium dollars more efficiently. After my last two cases I can say what is the most frequently spoken mistruth in the sales context. Its plausibility disarms consumers yearning for help and it’s […]
The way most people buy life insurance is a recipe for poor results. It violates two clear principles of successful decision-making commended in Proverbs 24:6. “By wise guidance you will wage war and in an abundance of counselors there is victory.” Notice two dominant adjectives: wise and abundance. In other words get a second opinion… […]
My first step into annuities was in early 1987 when an agent. I sold annuities to two business owners to fund their IRAs. I put these in a variable annuities just before Black Monday shrunk the Dow over 20% in a day. I had conflicted emotions, sick over what had just happened, while excited about […]
I just finished an insurance review for a Michigan business owner. The results were straightforward and with a company I deal with regularly- Northwestern Mutual. NML is an excellent company, as their agents will tell you, but like all companies they have their strengths and weaknesses. An eclectic strategy can use them for some needs […]