The problem with hoarding documents is that as more and more start adding up, it is quite easy to lose track of what’s in there and what’s not – not to mention that large stacks become increasingly difficult to manage. If you are looking to create a legacy plan based on those documents, your family might find it difficult to sort through them. There is also a risk of those files getting damaged.
Over the course of our blog, we have mentioned several key elements that make an insurance company desirable for customers. From offering clients bespoke solutions to their needs all the way to making sure they are satisfied with your service and policies; everything adds up.
When it comes to legacy planning, many think that distributing your financial assets is all there is to a good legacy. However, it is important to remember that money will only last so long, while property tends to lose its sentimental value over time.
There was an internet-wide joke throughout 2020 suggesting that 2020 was the worst year so far and that with 2021, things will start getting better. From COVID-19 to the increased number of natural disasters, everything disrupted our home and work alike. Insurers are no exception.
A survey published in 2019 showed that globally, 54% of individuals were concerned about their privacy. 68% of Latin Americans and 48% in North America reflected the same concern. More than 61% of Americans suggested that they wanted to do more to protect their privacy. Here is a graph to illustrate our point:
2020 has been an uncertain year, to say the least – not just for individuals but for businesses as well. There have been countless business interruptions with many leading to owners having to close their doors to the public. It’s not just COVID-19 that resulted in all this, but also numerous counts of civil unrest, natural disasters, and more.
We recently discussed how COVID -19 has shifted focus toward legacy planning ventures for many individuals. From business owners to families, people have started taking estate planning much more seriously. We made a checklist for individuals [h1] that included the number of actionable tips to enact as soon as possible, and we are going to do the same here for insurance agents.
The Coronavirus pandemic was a shock for many and an eye-opener to say the least. Many are returning to their wills and getting their affairs in order, ranging from business succession to portfolio management, financial planning, and more. Legacy and estate planning has become a concern throughout the world.
In 2020, 54% of Americans owned life insurance while 91.5% of Americans owned a health insurance plan. Despite the large gap in ownership percentages, unfortunately both terms; health and life insurance, are often used interchangeably. This is a grave error that people make; one that can have direct impacts on their financial planning and ultimately, their health.
When it comes to handling customers as an insurance agent, there are four major objections that you’ll have to handle throughout your career: