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Ending the Churn-em’ and Burn-em’ Ethos
By Staff Reporters
Some insurance agents are currently noting that life insurance ownership is almost at an all time low because of the economy. And, some have even prompted suggestions that a “level commissions” payout would reverse the trend.
The argument goes something like this:
If agents were compensated 10% a year over a 10-year period rather than 100% in year one, annual reviews would increase substantially. The long-standing current method is not geared toward ongoing service, but to “churning” and “flipping”. Clients get better service from their property/casualty agents and wealth advisors because these practitioners have a financial inventive for their clients’ continued allegiance.
What do you think? Please vote and be sure to add your comments below.
Conclusion
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Filed under: Insurance Matters, Voting Polls | Tagged: insurance agents, life insurance, life insurance commissions |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
‘Selling Away’ Infractions Double
[Regulators Voice Concern – Cite Harm to Investor Portfolios]
Enforcement actions against “selling way,” the practice of financial selling products without the knowledge and approval of a stock-broker, financial advisor or financial planner’s broker-dealer [BD] has doubled over the past year, according to the North American Securities Administrators Association (NASAA).
This alarming development came to light in NASAA’s 2011 survey of state securities enforcement officials.
It is generally believed that advisors who engage in “selling away” typically operate in one or two-man offices and have no manager or compliance officer looking over their shoulders on a day-to-day basis.
So, doctors and all investors, beware!
Dr. David Edward Marcinko MBA CMP™
http://www.CertifiedMedicalPlanner.com
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How insurers use the ‘Death Master’
A Social Security file with data on 95% of Americans who have died over the past 75 years can help with unclaimed benefits. But, only if life insurers choose to consult it.
http://money.msn.com/insurance/how-insurers-use-the-death-master-insure.aspx
Any thoughts, especially from agents?
Helen
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