As an agent, learning how to approach a customer for life insurance can be a game-changer. Discover five strategies to turn a potential client into a policyholder. Do you want to know how to approach a customer for life insurance? Canadian-American public speaker and self-development author Brian Tracy once said, “Approach each customer with the idea of helping him or her solve a problem or achieve a problem, not of selling a product or service.” While talking about death, accidents, and income loss is not typical for friendly chit-chat, there are ways to convince consumers about the importance of protecting themselves and their loved ones from such events. If you find techniques to...
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4 Life Insurance Tips From Suze Orman During Life Insurance Awareness Month Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. It pays to take her advice to heart. Key points There's a lot of misinformation about life insurance out there. If you're confused about the coverage you need, here's some advice to follow. Although we're nearly at the end of September, it's not too late to acknowledge that it's Life Insurance Awareness Month. The purpose of Life Insurance Awareness Month is to...
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3 Signs You're Paying Too Much for Life Insurance Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. Overpaying for life insurance can mean less money to do other things. Key points Life insurance is an essential purchase for many people. Consumers don't want to pay more than necessary for life insurance. These signs could suggest a policy is more expensive than it should be, including having a larger death benefit than you truly need. The protection that comes from a good life insurance policy...
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Is sleep apnea a pre-existing condition for life insurance? When most obstructive sleep apnea patients think about “insurance,” they typically ask questions like, “Are my CPAP supplies covered by insurance?” or, “Will my sleep study be covered by insurance?” or, “Is my durable medical equipment provider in-network with my PPO?” Of course, these are all important questions, but with the Affordable Care Act in full swing since 2014, almost all Silver level plans and above cover sleep apnea testing and supplies much more liberally than before. And that’s a good thing! Sleep studies and CPAP equipment and supplies used to be subject to your deductible first, then co-insurance. Now all the ACA-...
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Says life insurers well prepared to deal with Covid claims Not only are more people buying life insurance but the average premium and cover size has also increased, said Kshitij Jain, Managing Director and CEO, Exide Life Insurance, adding that despite the second wave of the Covid-19 pandemic, he expects the life insurance sector to do well this fiscal. “We are selling more policies than last year and we are selling bigger premiums. More people are taking bigger covers. Overall in premium term, industry will see growth this year,” Jain told BusinessLine in an interaction. On an industry-wide basis, the average premium size has increased every year for the last three years, he said,...
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Bank branches set to be next battleground for life insurers As Life Insurance Corporation seeks to leverage tie-ups with banks to sell policies, it also has to cope with the swiftness and agility of private rivals in terms of customer focus. India’s banks double up as direct sales agents of a host of financial products, and life insurance needs their support more than any other. With the country’s largest life insurer Life Insurance Corporation of India becoming serious about bancassurance, the biggest growth-driving distribution channel is also set to become an area of intense competition. In media interactions, LIC chairman MR Kumar has stressed that he would focus on bancassurance tie-...
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‘Will lead to stronger financial profile, drive improvements across sector’ The initial public offering of Life Insurance Corporation of India is ‘credit positive’ for the country’s insurance sector, said Moody’s Investor Service on Thursday, adding that it will also benefit the state-run life insurer. “As a listed company with external shareholders, we expect LIC to tighten its underwriting standards and improve its risk management and governance, which should contribute to a stronger financial profile,” Moody’s Investor Service said. Further, given its dominant position and as a market trendsetter, these enhancements at LIC will likely drive similar improvements across the life insurance...
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TRICARE for Life TRICARE for Life (TFL) is available to TRICARE beneficiaries (military retirees and spouses) who have Medicare Part A and Part B, regardless of age or where you live. What is TRICARE For Life? TRICARE For Life (TFL) provides comprehensive health care coverage. You have the freedom to seek care from any Medicare-participating or Medicare non-participating provider, or military hospital or clinic if space is available. Medicare-participating providers file your claims with Medicare. After paying its portion, Medicare automatically forwards the claim to TRICARE for processing. TRICARE pays after Medicare and Other Health Insurance (OHI) for TRICARE-covered health care...
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Loss of manufacturing capability as a result of regulatory non-compliance can have a significant impact on biopharma or medical device manufacturers. The Food and Drug Administration (FDA) and other regulators around the world are scrutinising life science companies more closely than ever to ensure Good Manufacturing Processes (GMP) are being followed. Regulatory inspections can result in a suspension of manufacturing, either voluntarily by the company or enforced by a regulator. The ever-increasing complexity of companies’ supply chains only adds to their potential exposure. More companies are relying on third parties to supply key elements of their products or to provide manufacturing...
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According to the Centers for Disease Control and Prevention (CDC), 61 million adults in the United States live with a disability. Those living with a disability, representing 26% of American adults, may place even more importance on financially protecting their families with a life insurance policy. But because insurers view applicants with disabilities as a greater risk, it can be harder for those with disabilities to find suitable coverage options. Fortunately, you can still qualify for life insurance even if you have a disability. Here's how. Can You Qualify for Life Insurance With a Disability? The Americans with Disabilities Act (ADA) prohibits life insurance companies from denying...
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