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...e are working adults 18 to 64 years old, according to the consulting firm Conn...s. Selling LTCI to people in their 40s and 50s represents a huge opportunity f...

... want to continue to work, either for himself or for someone else? Consider this: The average life expectancy is 75 years; You'll spend 25 years sleeping; You'll spend 20 years growing up; You'll spend 15 years working; You'll spend 10 years in your old age, too infirm to embrace life; and You'll spend 3 years driving, cooking, cleaning, and waiting in lines. This leaves you with only about 730 days to have some fun. Do you really want to own you agency and keep working until ... significant pressure on agency profitability for a number of reasons: The soft market has reduced premiums and commissions. The economy has driven many companies out of business, which eliminates agency commissions. Companies still in business have reduced payroll and sales, leading to decreased commissions. Home foreclosures have increased, which results in lost homeowner commissions. What to Do Agency owners need to take a long, hard look at their short- and long-term goals. In some cases, an owner might be much better off financially by selling the agency and ... larger agency. At age 74, does he really want to continue to work, either for himself or for someone else? Consider this: The average life expectancy is 75 years; You'll spend 25 years sleeping; You'll spend 20 years growing up; You'll spend 15 years working; You'll spend 10 years in your old age, too infirm to embrace life; and You'll spend 3 years driving, cooking, cleaning, and waiting in lines. This leaves you with only about 730 days to have some fun. Do you ...

...just their expectations. The same holds true of insurance agency values. Coul...ional Alliance for Insurance Education and Research.

...ve made it clear that an agent who holds himself out as being qualified to pro...rn for agents during the next several years.

...hes a whopping 65% of all Americans older than 12 years old between 6 a.m. and noon on an average ...n, which conveys a message in pictures and sound. In large markets, the co...

...eting To Generation X
Look out, golden agers! Make room, boomers! Are you f...letters on the importance of insurance and the services provided by the indust...

... 50,000 of Term insurance to fund the completion of college if the breadwinner should die. The cost of the insurance could be less than $200 a year. Prospects may be found in P/C agency files. Check birthdates for 15- to 20-years old, starting with driver records and Homeowners insurance records. High school seniors or juniors and freshmen at local colleges can be sources of new sales, as well as new clients. Other college markets are graduation classes or enrollees for higher-level degrees. As they grow into ... needs become permanent in the future, then the Term can be kept or converted. COVERING MORTGAGES-Several people carry decreasing Term policies to cover mortgage obligations. However, such policies become expensive on a per-thousand basis as the coverage declines but the premium remains level. Now with home mortgage rates at historic lows, many people are refinancing to save thousands of dollars in future interest payments. They should also consider upgrading or improving their Mortgage insurance. With today's new Term plans, agents may provide more insurance for less premium. Many clients have ... dividends or apply future dividends against premium, or take the cash value from paid additions. (Participating Life policies are, as a class, part of the problem when premium money is tight, for par' policies carry a built-in overcharge which takes years- often 15, 20, or more- to build any kind of return that's reasonable. Our discussion of dividend options, then, is not to be taken as an endorsement of par policies. On the contrary, selling non-par is usually a premium-containment step.) Another ...

... older national carriers could get into trouble, your primary focus should be on newer companies. A.M. Best Co. has developed a list of the characteristics of companies that have become insolvent during the last several decades, and 41% of them were under 10 years old. Other items noted by Best's regarding the nature of recently insolvent insurance companies are: 75% were stock companies 62% had under $5 million in surplus 81% had unusual net premium growth 50% of insolvencies were due to a combination of rapid growth ... ) Agent grapevine is giving some negative signals SECTION III-ITEMS THAT COULD BE INDICATIONS OF SOME FINANCIAL DIFFICULTIES: Assign one (1 ) point for every YES answer on the portion of the checklist. Consistently poor business decisions being made Information coming from branch inconsistent with information from home office Employee morale down and turnover among underwriters up Letter from company denying rumors (add extra point if you hadn't heard rumors) Change in agency contracts, especially termination or profit-sharing procedures Extensive changes in agency force (many appointments or terminations) Makes erratic changes in ... insurance companies are: 75% were stock companies 62% had under $5 million in surplus 81% had unusual net premium growth 50% of insolvencies were due to a combination of rapid growth, underpricing, and deficient loss reserves 20% were due to fraud 15% were due to change of ownership or type of business written 15% were due to inadequate reinsurance protection Many were companies heavily involved in automobile insurance. The whole issue of insolvency is so critical to the industry that it transcends the normal competitive guidelines under which ...

... older national carriers could get into trouble, your primary focus should be on newer companies. A.M. Best Co. has developed a list of the characteristics of companies that have become insolvent during the last several decades, and 41% of them were under 10 years old. Other items noted by Best's regarding the nature of recently insolvent insurance companies are: 75% were stock companies 62% had under $5 million in surplus 81% had unusual net premium growth 50% of insolvencies were due to a combination of rapid growth ... ) Agent grapevine is giving some negative signals SECTION III-ITEMS THAT COULD BE INDICATIONS OF SOME FINANCIAL DIFFICULTIES: Assign one (1 ) point for every YES answer on the portion of the checklist. Consistently poor business decisions being made Information coming from branch inconsistent with information from home office Employee morale down and turnover among underwriters up Letter from company denying rumors (add extra point if you hadn't heard rumors) Change in agency contracts, especially termination or profit-sharing procedures Extensive changes in agency force (many appointments or terminations) Makes erratic changes in ... insurance companies are: 75% were stock companies 62% had under $5 million in surplus 81% had unusual net premium growth 50% of insolvencies were due to a combination of rapid growth, underpricing, and deficient loss reserves 20% were due to fraud 15% were due to change of ownership or type of business written 15% were due to inadequate reinsurance protection Many were companies heavily involved in automobile insurance. The whole issue of insolvency is so critical to the industry that it transcends the normal competitive guidelines under which ...