I have a link below from the SSA with some interesting numbers. America's Baby Boomers are now retiring at a rate of 10,000 per day! This is a huge opportunity for all Insurance Agents nationally to assist these retires with retirement plans. A fixed annuity with an income rider that would allow the investor to never out live their monthly income needs may be a necessity for a portion of the baby boomers retirement plans. I feel that we all need to start retirement planning as early as the age of 40-45. Therefore, the accumulation phase, will allow us to have enough money at age 65 to kick in an income stream that we will not outlive. In my opinion one of the best benefits of the latest phase of annuities are the income riders that are available. At Global Insurance Group, we have been marketing to the younger "baby boomers" & even the families in the 40 year age bracket. With the challenging economy that our country now faces, guarantees within an annuity contract are extremely precious for the consumer. Please get familiar with "income riders". The riders are changing on a monthly basis. The benefits of these contracts are guaranteed by the financial stability & claims paying ability of the issuing insurance company.
http://www.ssa.gov/pressoffice/pr/babyboomerfiles-pr.htm
Saturday, March 28, 2009
Wednesday, March 25, 2009
Important Letter From Aviva Life
This letter was dated March 20Th, 2009. Life Insurance products are being emphasized to all of our agents at Global Insurance Group. If you are an annuity producer & have not spent the time to market life insurance, your clients are not getting the knowledge they deserve. Please click the "join now" tab on our website to increse your life insurance sales.
FROM AVIVA LIFE :
To our valued Distribution Partners and Producers:
Aviva USA and our key distribution partners and producers continue to deliver prosperity and
peace of mind to our life insurance and annuity customers as we navigate through these difficult
economic times. We remain focused on providing policies that provide the safety, security and
guarantees customers desire in this time of turmoil. As we work to keep the company strong, we
will be there to deliver on our promises -- just as Aviva has done for more than 300 years.
As you know, our goals for 2009 are to accelerate the growth of our life business and moderate the
growth of our annuity business. We also want to utilize our capital in the most prudent manner and
to build up our capital position so that we are in a position to take advantage of the opportunities
that will exist for strongly capitalized insurers and their producers when this economic crisis ends.
Please know that we are committed to our annuity business over the long term; however, we have
made changes to moderate our growth rate. So far we have not seen much reduction because of
the strong consumer demand for our products. During the past week we have ended our annuity
relationships with some additional distributors and producers and have established production
caps for other distributors. These were extremely tough decisions, and we sincerely wish those
producers and groups the best. Today, we are making some additional changes for business
received on and after March 21, 2009, including:
A commission reduction for all annuity products (for most products 0.5%).
An additional commission reduction for all annuity products for issue ages above 75.
A reduction in maximum issue ages for most annuity products.
o For 12- and 10-year SC products, the maximum issue will be between ages 75-
78, depending on the product; and for 8-year SC products, it will be age 80; for
7-year SC products it will be age 81; for 6- year SC products it will be age 82;
and for 5-year SC products it will be age 83.
An increase in the annual fee for lifetime income benefit riders for all annuity products
and all riders. The increase will vary by rider, but for our most popular rider the fee will
increase from 0.50% to 0.75% annually.
A temporary moratorium from licensing/appointing any new annuity producers.
We greatly appreciate the increased activity that is happening in our life business. In fact, many
annuity producers are already looking at selling more life insurance business during this period. To
assist them, we have introduced a competitive new fixed universal life product to complement our
indexed universal life, single premium life and term products so that our producers have the
products necessary to rapidly grow life production. We have made additional improvements to our
life insurance business to support your growth, including:
Increased retention limits to $10 million.
A reorganized underwriting team.
An improved no lapse guarantee (NLG) rider.
The introduction of illustrations demonstrating the positive impact of our Wellness for
Life rider.
Expanded Advanced Marketing Team and Life Sales Support Team.
Aviva remains strong and committed to our customers and to our producers. While there are
sacrifices to be made, we continue to deliver prosperity and peace of mind to our customers, which
is our most important obligation. We know we are doing this as a team with you and now more
than ever, we appreciate your business and your willingness to weather this storm with us. That's
why we call it, "One Aviva, twice the value.”
Sincerely,
Mark V. Heitz
President, Sales & Distribution
FROM AVIVA LIFE :
To our valued Distribution Partners and Producers:
Aviva USA and our key distribution partners and producers continue to deliver prosperity and
peace of mind to our life insurance and annuity customers as we navigate through these difficult
economic times. We remain focused on providing policies that provide the safety, security and
guarantees customers desire in this time of turmoil. As we work to keep the company strong, we
will be there to deliver on our promises -- just as Aviva has done for more than 300 years.
As you know, our goals for 2009 are to accelerate the growth of our life business and moderate the
growth of our annuity business. We also want to utilize our capital in the most prudent manner and
to build up our capital position so that we are in a position to take advantage of the opportunities
that will exist for strongly capitalized insurers and their producers when this economic crisis ends.
Please know that we are committed to our annuity business over the long term; however, we have
made changes to moderate our growth rate. So far we have not seen much reduction because of
the strong consumer demand for our products. During the past week we have ended our annuity
relationships with some additional distributors and producers and have established production
caps for other distributors. These were extremely tough decisions, and we sincerely wish those
producers and groups the best. Today, we are making some additional changes for business
received on and after March 21, 2009, including:
A commission reduction for all annuity products (for most products 0.5%).
An additional commission reduction for all annuity products for issue ages above 75.
A reduction in maximum issue ages for most annuity products.
o For 12- and 10-year SC products, the maximum issue will be between ages 75-
78, depending on the product; and for 8-year SC products, it will be age 80; for
7-year SC products it will be age 81; for 6- year SC products it will be age 82;
and for 5-year SC products it will be age 83.
An increase in the annual fee for lifetime income benefit riders for all annuity products
and all riders. The increase will vary by rider, but for our most popular rider the fee will
increase from 0.50% to 0.75% annually.
A temporary moratorium from licensing/appointing any new annuity producers.
We greatly appreciate the increased activity that is happening in our life business. In fact, many
annuity producers are already looking at selling more life insurance business during this period. To
assist them, we have introduced a competitive new fixed universal life product to complement our
indexed universal life, single premium life and term products so that our producers have the
products necessary to rapidly grow life production. We have made additional improvements to our
life insurance business to support your growth, including:
Increased retention limits to $10 million.
A reorganized underwriting team.
An improved no lapse guarantee (NLG) rider.
The introduction of illustrations demonstrating the positive impact of our Wellness for
Life rider.
Expanded Advanced Marketing Team and Life Sales Support Team.
Aviva remains strong and committed to our customers and to our producers. While there are
sacrifices to be made, we continue to deliver prosperity and peace of mind to our customers, which
is our most important obligation. We know we are doing this as a team with you and now more
than ever, we appreciate your business and your willingness to weather this storm with us. That's
why we call it, "One Aviva, twice the value.”
Sincerely,
Mark V. Heitz
President, Sales & Distribution
Suspension Of RMD Requirments for 2009
This eAlert is provided for informational purposes only and does not constitute legal or tax advice. It is based on information believed to be reliable but no representation of its accuracy is made by Lincoln Financial Distributors. For more information, contact Lincoln Advanced Sales. LCN0812-2024358 For agent or broker use only. Not for use with the public 1 December 17, 2008 Issue 63 H.R. 7327, the Worker, Retiree, and Employer Recovery Act of 2008
H.R. 7327, the Worker, Retiree, and Employer Recovery Act of 2008 (generally referred to as the "2008 Recovery Act"), passed the House on Dec. 10, 2008 and the Senate on Dec. 11, 2008.
Highlights of the Worker, Retiree, and Employer Recovery Act of 2008 include the following provisions.
H.R. 7327, the Worker, Retiree, and Employer Recovery Act of 2008 (generally referred to as the "2008 Recovery Act"), passed the House on Dec. 10, 2008 and the Senate on Dec. 11, 2008.
Highlights of the Worker, Retiree, and Employer Recovery Act of 2008 include the following provisions.
• Suspension of RMD Requirements in 2009
The Act allows for a suspension of the required minimum distribution from retirement accounts in 2009. This waiver, which is available to everyone regardless of their total retirement account balances, applies to all defined-contribution plans, including 401(k), 403(b), 457(b), and IRA accounts. Suspending the mandatory withdrawal allows retirees to keep the money in their account if they choose, and possibly recover some of their losses.
• Pension funding relief for both single-employer and multi-employer plans.
For single-employer plans, the 2008 Recovery Act permits employers to "smooth" the value of pension plan assets over 24 months instead of having to apply the mathematical average that the Treasury requires. "Smoothing" means valuing the assets at various points in time. This change softens the accounting of 2008 plan losses. The 2008 Recovery Act also adjusts the transition to the new funding rules, by allowing plans that miss their phase-in funding target to retain the same target and not jump to the 100% target (as required under pre-2008 Recovery Act law). For plans starting between Oct. 1, 2008 and Oct. 1, 2009, multi-employer plans may elect to freeze their current funding status based on the previous year's level. This would freeze the terms of the funding improvement or rehabilitation plan adopted at any time during the previous plan year. In addition, under the 2008 Recovery Act, plans may elect a 3-year extension of the current funding improvement or rehabilitation period, from 10 to 13 years and from 15 to 18 years. Election of this extended correction period will help offset 2008 equity losses.
This eAlert is provided for informational purposes only and does not constitute legal or tax advice. It is based on information believed to be reliable but no representation of its accuracy is made by Lincoln Financial Distributors. For more information, contact Lincoln Advanced Sales. LCN0812-2024358 For agent or broker use only. Not for use with the public 2 December 17, 2008 Issue 63
• Rollover Clarification
The Pension Protection Act of 2006 ( Sec. 829, PL 109-280, 8/17/2006 ) added Code Sec. 402(c)(11) to provide that a nonspouse beneficiary of a deceased employee's eligible retirement plan can make a trustee-to-trustee transfer to an IRA of part (or all) of the deceased employee's account balance in the plan, effective for distributions made after 2006. As described in Notice 2007-7, the IRS interpreted Code Sec. 402(c)(11) to mean that plans could, but did not have to, allow for nonspouse beneficiary rollovers. The 2008 Recovery Act provides that if the Code Sec. 402(c)(11) requirements for making a nonspouse beneficiary rollover are satisfied, then a plan provision allowing eligible rollover distributions must allow nonspouse beneficiaries to roll over inherited amounts tax-free.
IRS Circular 230 Disclosure: Any discussion pertaining to taxes in this communication (including attachments) may be part of a promotion or marketing effort. As provided for in government regulations, advice (if any) related to federal taxes contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code. Individuals should seek advice based on their own particular circumstances from an independent tax advisor.
Sunday, March 22, 2009
Web based Data Base Fully Functional !
After two years in the works our free web based data base is fully functional & ready for our agents to utilize. This is a $30,000 value! Please contact Joshua or Rhonda at 888-678-4845 for details on getting your user name & password. The data base is a dream come true for professional insurance agents working with Global Insurance Group.
The free software is a client management software system.
Web Based: It is available to any agent who is approved. It will be accessible anywhere in the world. You will be assigned a user name & password.
Simple to use and designed to give you a turn key insurance agency:
Have all of your clients in one specialized database.
Lead, Seminar and Client data base tracking
Scheduling and Calendaring Tools
Manage Leads and appointments
Seminar/Event Tracking
Lead tracking system. Imagine all of your leads & notes from the calls made on them magically appearing on your calendar
Pending business. Imagine having a better tracking system then the carriers themselves!
Track your pending transfers.
Track Commissions.
Mining of leads. Use our extensive database to pull new potential clients.
Anniversary of contract reminders.
Birthday reminders.
Client newsletters generated for you on a quarterly basis.
Multiple customizable reports and queries (to many to list)
The free software is a client management software system.
Web Based: It is available to any agent who is approved. It will be accessible anywhere in the world. You will be assigned a user name & password.
Simple to use and designed to give you a turn key insurance agency:
Have all of your clients in one specialized database.
Lead, Seminar and Client data base tracking
Scheduling and Calendaring Tools
Manage Leads and appointments
Seminar/Event Tracking
Lead tracking system. Imagine all of your leads & notes from the calls made on them magically appearing on your calendar
Pending business. Imagine having a better tracking system then the carriers themselves!
Track your pending transfers.
Track Commissions.
Mining of leads. Use our extensive database to pull new potential clients.
Anniversary of contract reminders.
Birthday reminders.
Client newsletters generated for you on a quarterly basis.
Multiple customizable reports and queries (to many to list)
Monday, March 2, 2009
Company Creed
I'm proud to announce the unifying principles that I truly stand for. After 26 years of transacting insurance business, I have developed a Company Creed that I request everyone within the family of Global Insurance Group to adhere by. I have worked with over a thousand insurance agents & thousands of clients in my career. I believe that I have enriched many agents with their Career. I also believe that I have assisted thousands of clients with the assistance of other quality agents, to positively structure their insurance portfolio. At 45 years of age, I feel that the next 20 years of my life will enriched by the quality people that I associate with. Here is our COMPANY CREED:
The Global Insurance Group core beliefs will impress upon its agents, employees and affiliates, honesty and fairness in all of its business dealings.
We offer our clients competence, diligence, and good judgment.
We utilize compliant marketing material from the carriers we represent as well as the State we are conducting business within.
We will only conduct business that benefits our clientele.
We will continually show respect to fellow agents & employees.
We will respect all Insurance Agents in our industry in a fashion in which we wish to be respected.
We will utilize fair marketing practices with the intention of educating our clientele.
We understand and agree that a personalized and caring nature towards our clientele is the first responsibility we have to our clientele. We will service our clientele to the best of our ability.
We offer fairness, integrity and civility as etiquette for correct business and personal relationships.
We will strive to make our personal lives and business activities an example for others to emulate and a source of pride for our families and community.
We hold all individuals' rights to self-determination, privacy and personal dignity to be authentic.
We believe ethical behavior is a matter of spirit and intent as well as a matter of law.
We believe honesty and integrity is characterized by open and truthful communication.
These principles shall be the guiding light for all
The Global Insurance Group core beliefs will impress upon its agents, employees and affiliates, honesty and fairness in all of its business dealings.
We offer our clients competence, diligence, and good judgment.
We utilize compliant marketing material from the carriers we represent as well as the State we are conducting business within.
We will only conduct business that benefits our clientele.
We will continually show respect to fellow agents & employees.
We will respect all Insurance Agents in our industry in a fashion in which we wish to be respected.
We will utilize fair marketing practices with the intention of educating our clientele.
We understand and agree that a personalized and caring nature towards our clientele is the first responsibility we have to our clientele. We will service our clientele to the best of our ability.
We offer fairness, integrity and civility as etiquette for correct business and personal relationships.
We will strive to make our personal lives and business activities an example for others to emulate and a source of pride for our families and community.
We hold all individuals' rights to self-determination, privacy and personal dignity to be authentic.
We believe ethical behavior is a matter of spirit and intent as well as a matter of law.
We believe honesty and integrity is characterized by open and truthful communication.
These principles shall be the guiding light for all
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