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Did George Washington Have Life Insurance?

 

 

The answer “maybe.” A recount of the history of life insurance1 on www.thinkadvisor.com shows that it may have been possible, noting that as early as 1688 (long before George Washington was born in 1732) Edward Lloyd’s Coffee House, a popular gathering place for ship captains, ship owners and merchants was the go-to place for shipping news and eventually marine insurance. It was there that the modern concept of an insurance company came into being.

 

The first life insurance company in the American colonies was formed in Charleston, South Carolina in 1735, but it only offered fire insurance when it was created. It added life insurance in 1760. While Washington may have led many men given this timing, it was unlikely he led them to their financial professionals to purchase a life insurance policy.


The other president we commemorate during the Month of February, Abraham Lincoln, was probably more likely to have had life insurance. As Lincoln was building his career, many changes were occurring in the history of life insurance. As outlined in the www.thinkadvisor.com article on the history of life insurance, the financial crisis of 1837 helped fuel a shift toward mutualization for life insurance companies, and during that same period, 17 mutuals, requiring little initial capital, were chartered. The spread of mutuals as well as other developments, such as legal changes allowing women to purchase life insurance and a cultural shift created a boom period for life insurance companies. Ten years after President Lincoln’s death, life insurance became more accessible to the working class with the founding of single product (burial insurance) insurance.

 

While Presidents Washington and Lincoln may have had less of an opportunity to purchase life insurance in their lifetimes, this rich history reminds us how fortunate we are today to have access to great coverage options.


Even though access to life insurance is plentiful today, many people wrongly assume that they won’t qualify for life insurance and never attempt to get insured.3 They may think that mental health issues, heart disease or cancer automatically disqualify them, but that may not be the case.


In honor of Presidents’ Day, think of those who aren’t sure if they can qualify or afford life insurance, and help lead them to a life insurance solution that is right for them.


1 http://www.thinkadvisor.com/2013/09/09/a-brief-history-of-life-insurance
2 www.lifehappens.org Life Happens, is a nonprofit organization dedicated to helping consumers take
personal responsibility through ownership of life insurance and related products.
3 blog on ww.lifehappens.org https://www.lifehappens.org/blog/you-think-you-wont-qualify-for-life-insurance-but-youre-wrong/

 

133MS-55 2/18 FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES

 

 

Like a Box of Chocolates

My momma always said, 'Life was like a box of chocolates. You never know what you're gonna get.” That iconic life-lesson quote from Forrest Gump in the movie of the same name in 1994 resonates with many of us. Life is filled with the unexpected. The challenge is to be prepared for it. Life insurance is like having the diagram of the chocolates in a box of Valentine chocolates. There is still an air of the unexpected because you don’t know exactly how the chocolate covered-delight will taste, but like life insurance, the diagram helps you be prepared for that bite of chocolate. This real life story from LifeHappens1 is a great example.

 

Summer didn’t know what was going to happen in the future, but she wanted a “diagram” that would prepare her for the unexpected “Summer was much like her name—bright and energetic. She was also hardworking. At 22, she was managing her own household, working full-time as a waitress, while attending school with dreams of becoming a doctor. She was also a single mom-to-be.

 

Although money was tight, Summer knew that getting life insurance was the responsible thing to do. That was a fateful decision. Just nine months after giving birth to Nathan, she was struck by a car and killed. Summer’s policy has allowed her mom, Coleen, to adopt and care for Nathan and set money aside for college. Learn more about Summer’s story at https://www.lifehappens.org/videos/the-responsible-thing-to-do/.

 

Summer's story serves as a reminder of how important life insurance can be. How are you helping your clients prepare for the unexpected? According to www.lifehappens.org35 percent wish that their spouses or partners had life insurance. The website also points out that a third of people aren’t buying life insurance or buying more insurance because they don’t want to think about death. In addition, 40% haven’t bought life insurance or more of it because they are unsure of how much or what type to buy. While that kind of reasoning can be understandable, the real reason to buy insurance isn’t for yourself, but for the ones you love. It’s for the ones who are left behind, like Nathan. As financial professionals, you can help draw the diagram like the one in the box of chocolates that helps your clients layout a life insurance plan for those they love.

 

Visit www.lifehappens.org, for statistics and stories to help you clients understand the value of life insurance for their loved ones.

 

1Life Happens, is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families financial futures. Life Happens does not endorse any insurance product or agent.

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133MS-54 2/18 

 

Are Your Clients Protecting the Ones They Love?

Insure Your Love

 

Roberto Loera would do anything for his family. That included leaving his homeland of Mexico and living and working in Colorado so he could provide a better life for his wife, Maria, and two boys, Roberto Jr. and Abel. He spent years working in the ski resorts during high season, and traveling back to Mexico to be with his family during the downtime. Finally, he got word that his family’s visas had been approved. Roberto shared that joy with his insurance professional, Leila Martinez who encourage him to buy life insurance for his family. He was able to put a policy in place for less than $20 a month.

 

Less than a year after the family was reunited, Roberto was diagnosed with a brain tumor. Just two weeks after Roberto celebrated his US citizenship he died. Roberto’s life insurance policy gave Roberto’s family the financial support they also needed. See Roberto’s full story at https://www.lifehappens.org/videos/a-parents-sacrifice-and-gift/. The Roberto Lorea story is just one of many videos at www.lifehappens.org that show how the people showing their love by protecting their families with life insurance.

 

February is Insure Your Love Month. Life Happens1 created and coordinates the Insure Your Love campaign for the industry because the basic motivation behind the purchase of life insurance is love. People want to protect their loved ones, and one of the best ways to do that financially is with life insurance. Use this month to help illustrate the importance of life insurance to your clients. The www.lifehappens.org videos can help. Consumers were 57% more likely to consider purchasing life insurance after watching one of these videos, as confirmed by an independent survey.

 

This year’s Insure Your Love theme is “This Is Love.” Reach out to clients and prospects with this simple message, letting them know that gestures—large and small—all constitute love, including the purchase of life insurance. www.lifehappens.org has a number of resources to help you. For example, you can share this promotional video 
message. https://www.lifehappens.org/videos/this-is-love/ or any of the other
inspirational quotes and statistics on www.lifehappens.org on social media. (Be sure to
reference www.lifehappens.org as the source.)

 

 

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133MS-56 2/18 

 

Simple Way to Keep Busy the Rest of the Winter...


2018 is here and it would be easy to stay huddled in our offices waiting for winter to be
over. But rather than hibernate and hope that the groundhog doesn’t see his shadow in
a few weeks why not embrace the post-holiday, stuck in winter blues and keep busy
with some customer-building activities.


Time blocking. Block a specific time on the calendar to make calls, and stick to that
schedule. Nothing is easier to push to the side than making calls, but without making
those calls the rest of your calendar will look pretty bleak.


Use business phone numbers. If you’re able to get a client’s business number, use it!
People will answer their business line at work.


Never ask if they can meet. If you ask if someone can meet, you’re giving them an
easy out. Instead, ask when they can meet with you, and then give them a couple
specific options to choose from. That way they will think about what their actual
schedule looks like for the few specific options you have provided them.


Create a sense of urgency. Your client’s will be more likely to meet if they are
reminded of a good reason to do so. Create a sense of urgency by bringing up rates,
health or the risks of an unprotected family.


Make it convenient for them. You will set (and more importantly keep) appointments if
you select the location/time that is most convenient for your client. Offer to go to their
house, meet over lunch and provide sandwiches, or meet in the evening.

 

Use ExactApp®. Who doesn’t have time to check their email? If you’re unable to get a time set to complete a life insurance application, use our ExactApp electronic application feature available within eBusiness Solutions. A completed application is submitted every time, and you can see a faster turnaround time.

 

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133MS-53 1/18 

 

How Fit is Your Customer Service Strategy?

 

 

A lot of people make resolutions to become more fit in the New Year. Fitness doesn’t
just apply to your how you take care of your body, but also how you take care of your
customers. Make a resolution this year to shape up your customer service strategy with
some fresh ideas.


Embrace Technology
One way to boost to your customer service strategy is by embracing technology and
tools. According to www.thinkadvisor.com while an overwhelming majority of
organizations claim that digital transformation of their customer experience is a strategic
priority, over half (51%)1 fail to act.


Make a resolution this year to implement at least three new technology-based customer
care strategies. This might be a simple as using social media more often to keep in
touch with clients or simplifying the life insurance decision for clients with online tools.
Midland National continues to introduce new tools to help you work with current and
prospective clients. Embrace those enhancements to improve the customer’s
experience.


Take Advantage of ‘Fresh Starts’
On ThinkAdvisor.com, John Graham2 points out that while birthdays, anniversaries, a
new baby or new job are well-known “buying occasions,” there are many other times
when clients may be inclined to make new commitments like buying life insurance. He
points out that in one study, researchers found that college students were more likely to 
visit the fitness center at the start of a new week, a new semester or just after a
birthday. These are called “fresh start events.” Graham adds that receiving a bonus,
getting a promotion, coming back from vacation, attending a workshop, among others,
can make us more open to going in a new direction. Take advantage of “fresh starts.”
For example, use an upcoming birthday as a good time to meet with a prospect. Look
for other “fresh starts” in your client’s lives to give you the opportunity to connect. As
Graham concludes, “It’s not when you and I want to make the sale, it’s when the
customer is ready.”


Be a Resource
Life insurance is probably not at the forefront of your clients minds on a daily basis.
They are probably not up on industry changes. You can be a resource and an educator
by keeping them informed of changes within the industry and how the changes may
impact their personal environment. For example, will economic changes impact their life
insurance needs? Are there opportunities to create a strategy that is a better fit for their
financial needs? Explore opportunities to hold informational client meetings to help
answer these and other questions that can get your customers thinking about their
needs and how YOU can help meet them in 2018.


Take some time to think about other ways you can make your customer service better in
2018. Commit to a customer service fitness strategy that lasts throughout the year.


1. Source: Dimension Data 2017 Global Customer Experience Benchmarking Report referenced by Joe Manuele, Group Executive, Customer Experience and Workplace Productivity, and Rob Allman, Group Senior Vice President, Customer Experience and Collaboration, share their thoughts on the top customer experience trends to watch in the year ahead.

2. Source: John Graham of GrahamComm, marketing and sales strategy consultant and creator of “Magnet Marketing.” Guest columnist for www. ThinkAdvisor.com, January 1, 2018.

 

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133MS-50 1/18 

 

 

Be a Problem Solver for Your Clients

Being a sales person is more than selling products and services. It’s about helping
people find solutions to their real needs. Here are some simple ways to be a problem
solver for your clients.


Do Your Homework
Before you even meet your client you should know as much as possible about them.
Use the fact finder method to create a portfolio about your client. The more you know
the more you can be a problem solver. Write down what you know. Keep these notes in
your client review portfolio and update the portfolio often. Perhaps a list of questions in
the portfolio to prompt the periodic conversation will help. For example, have you had
any changes in your job? If the client has had a promotion, his income may have gone
up, and his life insurance needs will have changed too.


Keep in Touch
Knowing your clients means keeping in touch with them. Before you can listen you need
to have an on-going relationship with them. Not just contacting them when you have
something to sell, but keeping them at the forefront of your mind. Remember, financial 
situations are fluid, so have a long-term strategy to regularly talk to your client. Social
media and email contact is ok, but don’t forget about the personal face-to-face or phone
call contact too.


LISTEN
When you listen to your clients you become a problem solver for them. Sometimes it
may require changing your thought process. Don’t start your conversation with your
sales idea or a new product or service. Instead of starting the conversation with a
statement like, “I have an exciting new product from Midland National to tell you about,”
begin by LISTENING to the customer. Knowing your customer’s goals and needs first
may lead to the opportunity to sell that new product and perhaps even increase sales.


Hone your listening skills by focusing on the client with eye contact, asking questions,
body language clues and not interrupting. If you feel you need to improve your listening
techniques, there are a multitude of self-help resources available and you can practice
your listening skills with office colleagues.


After you have listened, spend less time talking about what the product can do and
more time talking about what your client can do with the product
. Chances of more
sales go up, if your sales strategy is built around a consultant approach. Being a
problem solver means providing valuable financial information to your client.

 

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133MS-52 1/18 

 

Jump start your business in 2018

 

 

You’ll find a lot of people needing a little extra boost to get their vehicles going as the
winter months settle in. The car might not be the only thing that needs a jump start.
This month is a perfect time to jump start your business to create new opportunities and
keep your business performing at its best throughout the year? Here are some simple
ideas to boost your business contacts.


Always carry business cards, and jumper cables!
You never know when you are going to meet your next client. If you are prepared with
business cards and a good first impression, you’ve already earned some trust. Winter
months are notoriously hard on cars, and helping someone with something simple like a
jump start is an easy way to get an introduction.


Put Your Calendar to Good Use
Set up calendar reminders to schedule annual review appointments for the year. Calling
someone now to schedule in September isn’t really helpful, but setting a reminder in
your Outlook Calendar for you to remember to reach out in September will work to
prevent missed connections.


Keep in Touch…
Send Happy New Year and other greetings throughout the year. When you do, ask for
a response. This helps to keep track of changes in your customer’s life. Getting married,
having a child, buying a house or a business are all reasons to take a look at getting
more insurance coverage. A quick greeting, even if it is an email, can let them know
how you are doing, and ask those important questions about life changes in their world. It’s all about keeping lines of communication open. Don’t be left out in the cold to new opportunities in 2018 because you haven’t kept in touch with your clients.

 

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133MS-51 1/18 

 

 

What are Your Sales Resolutions for the New Year?

 

Every year you probably set sales goals. Unlike many resolutions sales goals are one that you need to carry through upon to be successful. To make it easier to achieve your sales goals, make a New Year’s Resolution to be SMART about your goals by using the SMART Goals system for goals setting success.

 

What are SMART Goals?

 

Specific – Your goals should be clear and concise. Take a lofty goal, like wanting to increase your life insurance business, and make it more concrete, like saying you’d like to sign more life insurance clients. Breaking down larger goals into smaller ones will make them easier to achieve.

 

Measurable – Choose a goal that allows for measurable results. This will help you track your progress and also keep you accountable. Instead of saying you want to increase your life insurance business, say you’d like to increase your life insurance business by signing five new clients. This will give you a solid goal to work toward.

 

Attainable – Make sure your goals are realistic and can be achieved. You want to set yourself up for success, not failure. Be sure to acknowledge the amount of time and resources you have to help you achieve your goal.

 

Relevant – This is the “why” question – why do you want to achieve this goal? Do you have a reason for it? Is it part of a bigger picture? If you don’t have an answer, you may need to rethink your end goal.

 

Time-bound – Give your goal a time frame to help stay on track. A timeline helps you stay motivated and disciplined, especially when other issues arise that may make you want to pause your goal. A sense of urgency and a framework will help you complete your goal now instead of later.

 

 

Do your sales goals for 2018 fit the SMART model? Take some time to make your goals SMART and improve your odds for achieving your sales goals with a SMART New Year’s Resolution.

 

 

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133MS-49 1/18 

 

 

How to Not Fall Off the Top of Your Customer's Mind

 

There is an often quoted saying by Joseph Parry: Make New Friends, but Keep the Old; Those Are Silver, These Are Gold. The same can be said for your clients. While you are always developing marketing strategies to earn new clients, you should also have a strategy to nurture current clients. What are some ways you as financial professionals can stay on top of the mind with your clients? Consider these ideas:

 

Share Your Expertise

Schedule follow up meetings and annual reviews with your current clients. They may not be in-tune with how world and national events can change their insurance needs and opportunities. Clients are probably not thinking about their insurance coverage day-in and day-out, but you can keep them current on how changes in the economy, government regulations etc. can impact their insurance needs.

Seminars are a great opportunity to inform clients about the benefits of new products available from Midland National. Sharing new opportunities with clients by keeping them up-to-date reinforces that Midland National is constantly adapting to the changing needs and preferences of clients.

 

Be Organized and Follow-Up

Use good organizational skills to make reminder calls to clients at specified times in the life of current policies. Take the time to send birthday cards and reminder cards to clients for daylight savings and other calendar events. Schedule time to make quick calls, or send emails or texts to let clients know they are on your radar. Everyone wants to feel as though they are being thought of and it keeps your name in the forefront of the client’s mind.

 

Network

We know the value of networking to build our own professional development, but networking can also build your client base. Embrace social media. It can be an inexpensive, but valuable tool to strengthen your presence among your clients. Tap into ways to increase sales among current clients by using professional networks to request referrals or utilizing referral programs. This can also lead to new clients.

 

Show Appreciation

Don’t just say you appreciate clients. Show them. Small gifts, such as calendar magnets, pens or notecards can show them you care and keep your name at the client’s fingertips. Host client appreciate events. With the holiday season and year-end fast approaching, this might be a good time to host a client appreciation reception or coffee.


In summary, your current clients need to be part of your marketing strategy, and doing simple things to keep you in the forefront of your client’s mind can grow your portfolio from within and make you more successful.

 

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133MS-40 10/17 

 

The Perfect Gift


What makes a perfect gift? At age five it was probably the toy that you put at the top of
your Christmas list. As you grew older it may have been an unexpected thoughtfulness.
Whatever your definition of a perfect gift is, it is probably seeded in love.


According to LifeHappens.org, the #1 reason that people buy life insurance is because
they love someone and want to make sure they’d be protected financially if something
happened to them. Since life insurance is a gift of love, it is a perfect gift that can last. 
Why is this a perfect gift?

 

Life insurance protection – This seems obvious, but should the unthinkable happen to a loved one, the death benefit can help to cover costs as the family grieves. Greg was a husband and father of two daughters who lived life to the fullest. He had insurance through his employer, but he knew he needed more. When he was just 36 years old, doctors discovered a rare form of stomach cancer. Greg passed away two years later. The life insurance Greg purchased paid off significant debts that had accumulated during Greg’s illness and also allowed his wife, Melissa, to pay off her mortgage and set up college funds for their daughters. “Without the insurance I wouldn’t have been able to stay in our house and provide a stable life for the girls,” said Melissa.1

 

Protected insurability – If the policy is for a little one, remember that children who are approved for life insurance are protected from changing health conditions that  could prevent them from purchasing life insurance in the future. 

 

Cash value potential – Permanent life insurance policies can build cash value that can
be borrowed from later—great for uses like college funding!2


Lasting legacy – As children grow, ownership can be transferred to them when they start their adult lives.


Remind your clients that a life insurance policy is a gift of love that can provide long-lasting benefits for loved ones. It’s the perfect gift!


1 Excerpt from a Life Happens testimonial. Life Happens, is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families financial futures. Life Happens does not endorse any insurance product or agent.


2 The primary purpose of life insurance is to provide a death benefit to beneficiaries. Because of the uncertainty surrounding all funding options except savings, it is critical to encourage your clients to make personal savings the cornerstone of your clients’ college funding program. However, even a well?conceived savings plan can be vulnerable. Should your clients die prematurely, their savings plan could come to an abrupt end.


To protect against this unexpected event, life insurance may be the only vehicle that can help assure the completion of a funding plan. In addition to the financial protection aspect of insurance, the tax?deferred buildup of cash values can be part of your clients’ college savings plan. Generally, if the policy is not a Modified Endowment Contract then tax?free withdrawals can be made up to the contract's cost basis. Moreover, if the  policy is not a Modified Endowment Contract, then loans in excess of the cost basis are also tax free as long as the policy remains in force.

 

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133MS-47 12/17 

 

 

Running an Efficient Workshop


Many children are sure that the North Pole is buzzing this time of year and running like
a well-oiled machine. They have visions of an environment filled with unmatched
productivity, precision and happiness under the guiding hand of a jolly old man with a
white beard and a nose for efficiency. Is your office running as efficiently as Santa’s
workshop? Here are some tips to make your office a model of North Pole efficiency.

 

Set Daily Goals
Make a “To Do” list daily and check items off as you go.


Set Monthly/Annual Goals
Determine how much you want overall to accomplish, and divide it into a monthly goal
so you can always know if you are on pace.


Avoid Distractions

This can be especially hard at this time of year with all the holiday preparations, but
focus is key to efficiency. Avoid setting your Internet homepage to Amazon or other
shopping websites.


Do not Procrastinate
If you get everything done, you won’t have to stress about what you have to do while
you should be enjoying time with family. Do not expect greatness if you wait until the
last minute to get things done. Everything has a cutoff date to get processed, and
probably it is prior to the actual last day of the year.


Schedule uninterrupted time with family
Reward yourself by getting your work done on time with uninterrupted time where you
do not have to think about work!


With a little planning and focus, your workshop can be running as efficiently as Santa’s
Workshop this December.

 

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133MS-48 12/17 

 

Year End Reviews

In a blink, 2017 will be gone. Before 2018 dawns, it’s time to tie up loose ends with policy
reviews for current clients or close a sale with some new clients.


Don’t let your sales go cold, set up your reviews today


Before the start of winter, set up policy reviews and client review appointments. While the
primary use of life insurance is death benefit protection, your clients may also have other needs that can be met through life insurance. Life insurance products change over time, so it's important to have a regular client review practice in place.


Begin by setting aside time to think through your client’s needs policy reviews. Here are some questions you might ask when reviewing a policy.


Can the client retain the same coverage, but at a lower cost?

Is there a policy that offers more coverage for the same premium?

Can improved death benefit guarantees be found?

Is the death benefit enough, too much, or just right?
 

Be prepared and have a plan for each client.


This will make the process go more smoothly. Start by putting your reviews into groups and prioritizing them. Year-end is a busy time for your clients and their time is valuable.
Preparation on your part by having well-thought out recommendations before you contact
clients can save them time and also build your relationship as a valuable resource for them. 
Trust, credibility, and long-term relationships are among the lasting benefits of scheduling reviews.
 

Where do you start?


The sales concepts on the website can help you develop recommendations that might fit your client’s specific needs. Visit http://life.midlandnational.com/SalesConcepts for inspiration.


Warm up your portfolio with new clients


In addition to reviews, this is the time to think through opportunities for turning prospective
clients into new clients. Again, the sales concepts can also be a good source for attracting some new customers. This is the time of year that prospective clients may be looking for some taxadvantaged options. While life insurance is not a tax strategy, at year-end people are thinking about the various financial pieces of their financial plan. Life insurance may be part of that plan. The sooner you can get new policies in force, the better for clients and you. Also, if you're looking for some extra cash during the holiday season, you're quickly running out of commission cycles before the end of the year.


Don’t overlook the value of social media at this time of year when conducting policy reviews and communicating with prospective customers. Visit http://life.midlandnational.com/MNPortal for some great ideas for reaching clients via social media.
 

Neither Midland National Insurance Company nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES

133MS-45 11/17 

Give Thanks for What's Most Important With Life Insurance



Princess Diana once said, “Family is the most important thing in the world.” Most people agree. In a World Values Survey, a significant majority of people list family as “very important” by a large margin.1 As Thanksgiving Day approaches, we gather with family and give thanks for them. Giving thanks also means showing your love and appreciation for those most important to you. As financial professionals, you can help current and
prospective clients express their love and appreciation for their family with life insurance.


The Insure Your Love Campaign materials from LifeHappens.org2 can help you to remind people that a primary reason to purchase life insurance is because they love their families. While the campaign is usually featured in February the resources are available all year and can be used throughout the year to remind people why life insurance that protects the ones they love against unexpected events is a gift of love to family members. Visit
www.lifehappens.org for videos and testimonials to encourage clients to show their love for their family with life insurance.


These videos and testimonial can be a springboard for your own social media/marketing campaign that strengthens one of the primary reasons people buy live insurance: to protect the ones they love.


1 The World Values Survey is a global research project that explores people’s values and beliefs. Data based on a four-year survey (2010-2014)

2 Life Happens, is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures. Life Happens does not endorse any insurance product or agent.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-44 11/17 

 

 

 

Are you Using Veteran Virtues in Your Business?

 

As we recognize our dedicated service men and women this Veterans Day, we also take note of some of the many characteristics that make them successful. Are you adapting these Veteran Virtues for your own business success?

 

Exceptional Leadership

Our veterans understand the importance of exceptional leadership. Proper direction, planning, and guidance among our armed forces is essential to successful missions. Similarly in business, a good leader is able to define, articulate, and execute the strategies and tactics necessary to drive their business plan forward.
 

Teamwork

Our service men and women—past and present—are the epitome of teamwork. Through teamwork, they protect one another and work together to achieve common goals. Through teamwork, you can also attain your business goals and ultimately be more successful.
 

Resilience

Showing resilience to push ahead in the face of adversity is essential among our service men and women, and has value in all aspects of life. You are probably going to face challenges with your business at some point. Some of those challenges you may be able to predict and others may be unanticipated. Make sure you adequately plan and prepare for the inevitable and possible threats to your business so you’ll have the fortitude to meet them head on when necessary.
 

Discipline

Those with military experience know that discipline helps prepare and encourage you to continually accomplish tasks—both big and small. Whether you want to be more efficient with time management, more consistent with communicating to sales contacts, or more organized in the office it takes training and hard work to develop and maintain the discipline needed to regularly achieve your business goals.
 

Adaptability

Soldiers often find themselves in unfamiliar situations to which they have to quickly adapt. The more prepared for the unknown they are, the more confident they are in their ability to navigate successfully through it. Adaptability can also help you manage your business more successfully. What opportunities and challenges might you need to adapt to your changing industry? Be sure you’re taking the steps today to strengthen your ability to meet the unexpected and make the most of business tomorrow.


This Veterans Day we thank our service men and women for their contributions to America and commend the virtues that can be an inspiration and template for our own business success.

 


FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
133MS-43 10/17

 

The Play-by-Play: How Index Accounts in an IUL Work

 

It’s football season again—time to watch our favorite teams and listen to all of the commentators who are there to help us make sense of it all. In the same way, wouldn’t it be nice if someone could help explain how Indexed Universal Life (IUL) insurance works? IUL provides the advantages of death benefit protection and has an index account that shields you from negative returns through a zero percent floor and subject to a cap. How exactly does that work?

 

Check out this consumer-friendly, interactive tool that walks you through how an index account works—in simple, understandable terms. Oh yeah, and it also does it all using a football analogy.

 

Check out the tool here!


 

Indexed Universal Life products are not investments in the market or in the applicable index. Indexed Universal Life products are subject to all policy fees and charges normally associated with most universal life insurance.

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-42 10/17

 

Do Your Clients Overestimate the Price of Insurance?

 

Among the most common reasons people give for not having life insurance is the cost. Research by Life Happens® revealed that eight in 10 American’s overestimate the cost of life insurance. People without life insurance overestimate its cost by three times. Those with insurance can overestimate it by two times.1

 

The reality is that the cost of life insurance can most likely fit into every client’s budget. As financial professionals you can dispel the myth that “I can’t afford insurance.”

 

Can Clients Afford the Risk?
The most obvious counterpoint to a client’s response “I can’t afford it,” is “can you afford the risk of not having life insurance?” Putting a value on the risk of not having life insurance can be hard to visualize for some clients because it can seem subjective. But you can help clients to see the financial impact on the family if something were to happen to them and they did not have coverage. The financial impact doesn’t apply only to the primary bread winner. There is a financial impact for “stay-at-home parents” and people without dependents as well. Life Happens® has several real-life testimonial videos that may help to illustrate all of these scenarios. Life Happens® Human Life Value Calculator can also be a useful tool to help clients see the importance of fitting the reasonable cost of insurance into their budget. Choose the video that fits your client or access the calculator at www.lifehappens.org

 

Find the Policy that Fits Their Budget

Remember, there is a policy to fit every budget and as financial professionals you can help them find the coverage that is right for them. 

 

Another way to illustrate the true cost of life insurance is to compare it to everyday expenses. This may be easier for some to visualize than the risk of not having insurance. Many times the cost of life insurance may be no more than the cost of a cup of coffee. You can also make comparisons of the cost of affordable life insurance to eating out or cable bills. 

 

The website http://www.lifehappens.org/TrueCost offers several cost comparisons that can relate to most expenses that are probably not very impactful on a client’s budget or lifestyle. 

 

Consider that according to the 2016 Insurance Barometer Study by Life Happens® and LIMRA1 , half of millennials say other financial priorities such as a mortgage and bills are keeping them from buying life insurance. Only half of them own life insurance and 23% who have it get it through their job. The survey also found that the main reason millennials don’t buy insurance is they think it is too expensive and 8 in 10 overestimate the cost of life insurance. Those under 30 think it is three times the true cost. You can show them the true cost and benefits of purchasing life insurance at a young age. For example, a healthy 30 year-old man can purchase a $250,000 term life insurance policy for as little as $13 a month.1

 

On the flip side, retired clients may be able to purchase final expense insurance for a nominal monthly or daily cost.

 

Use these tools to help set the record straight on the true cost of insurance for those who may be overestimating the cost of life insurance.

 

1. 2016 Insurance Barometer Study, Life Happens® and LIMRA® .

 

Life Happens, is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families financial futures. Life Happens does not endorse any insurance product or agent.

 

133MS-39 10/17 FOR AGENT USE ONLY. NOT TO BE USED FOR SOLICITATION PURPOSES.

Tips for Selling Permanent Life Insurance

The benefits of a permanent life insurance policy can often be overlooked because of a few obstacles that can turn off clients at first glance. With a little education, you can help your clients make an informed decision about what death benefit options are right for them.


Meet the challenges
One common challenge with selling permanent life insurance is the fact that premiums are traditionally higher with a permanent life insurance policy versus the cost of a term life insurance policy with the same face amount. This may discourage those with lower disposable income from opting for a permanent policy. Another hurdle consumers may face is confusion. While the options available with a permanent policy allow for more flexibility, it can seem to be a confusing and complex process for potential clients. Financial professionals can help these clients by educating them on how permanent life insurance products work, which in the end may lead to a combination of both permanent and term life insurance sales.


Focus on the future
Help potential clients see further into the future by helping them understand what they are buying with a permanent policy. Point out the unique advantages of permanent insurance, such as potential tax advantages, the ability to access potential cash value if necessary, and stability of a payment that doesn’t change while the cash value of the policy can increase. The key is helping them see permanent life insurance beyond something they not only need, but also something that adds to their financial portfolio. This look into the future can help them to understand the value of permanent insurance as a lifelong protection with flexibility.


Neither Midland National Life Insurance Company nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into o paying additional premiums with respect to such arrangements.


FOR AGENT USE ONLY. NOT TO BE USED FOR SOLICIATION PURPOSES.

133MS-36 

 

Explaining Life Insurance in Simple Terms

 

Almost 9 in 10 Americans agree that most people need life insurance, yet just 60% say they have it1 . Why? One reason is they don’t understand the process of obtaining life insurance.

 

According to a survey by Life Happens®, two-thirds of Americans under the age of 40 and more than half of the general population view the purchase of a life insurance as complicated. Coincidently, two thirds of Americans also perceive filing taxes as complicated and most turn to outside experts for help. As financial professionals you can help to uncomplicated the perception of obtaining a life insurance policy.

 

Life Happens® has several calculators available to help explain life insurance in simple, visual ways.

 

Human Life Value Calculator
While we can’t put a true value on human life, we can calculate the financial loss that could result from the loss of a loved one. Check out this calculator to help your clients better understand their life insurance needs.

 

Life Insurance Needs Calculator
Help clients see how changes like having a child, a mortgage or income changes can impact their insurance needs. Then you can help them tailor a plan to meet their specific needs.

 

Interactive Product Selector
This tool can be helpful in showing clients what type of insurance is right for them. The Selector uses a series of questions to walk people through the life insurance decision-making process.

 

All of these tools from Life Happens® are not meant to be a substitute for the important role that financial professionals play in a client’s decision to purchase insurance. The 2017 Life Happens® Insurance Barometer Study2 revealed that 66% of consumers want the “ability to chat with a person.” Only having a product “that is easy to understand” (83%) ranked higher among consumers. The Life Happens® tools can be tools for financial professionals to help illustrate in simple, easy-to-understand ways how life insurance can benefit potential clients.

 

Visit www.lifehappens.org to learn more about these tools and how they may fit into your marketing plan.

 

 

1 The 2016 Insurance Barometer Study, Life Happens® and LIMRA®.

2 2017 Insurance Barometer Study, Life Happens® and LIMRA®. Life Happens®, is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families financial futures. Life Happens® does not endorse any insurance product or agent. 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR SOLICITATION PURPOSES.

133MS-37 9/17 

 

This one question could help you win more sales.

 


With all of the business you’re currently doing and the many clients you regularly meet with, you probably don’t have much time to read and implement a complicated recipe for growing your sales. That’s why this post is only going to share one question that might help you take your business to new levels—or at least it might help you more easily talk about life insurance.


As you go about the business of selling within multiple product lines you may find it difficult to transition the conversation to your client’s need for death benefit protection. After all, the subject of death is rarely an enjoyable topic of discussion. A great way to start the conversation about this important need is to simply ask the question:


“Where do you have your life insurance policy?”


This question can either lead to a discussion about the client’s current life insurance policy or to a discussion about the client’s lack of life insurance. Either way, this ice-breaking inquiry can directly help open the door to many sales opportunities as well as a deeper relationship with your client.


While the prospect of passing away may not be your client’s favorite topic, use this question to kickstart the important discussion. You might be surprised to see the impact for you and your client.



FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-31 7/17

 

September is Life Insurance Awareness Month

 

• 1 in 3 households would have immediate trouble paying living expenses if the primary wage earner died.

• Almost 9 in 10 Americans agree that most people need life insurance, yet just 60% say they have it.

• 40% of Americans haven’t bought life insurance or more of it because they are unsure how much or what type to buy.

 


As financial professionals in life insurance YOU have the power to help turn those statistics around for the better. Life Insurance Awareness Month (LIAM) in September is the perfect time to focus on educating your current and potential clients about the importance of having adequate life insurance. Life Happens coordinates the industry-wide LIAM campaign and has a number of resources available to help you spread the word.


Visit www.lifehappens.org for more information about Life Insurance Awareness Month.

 


StatisticsSource: 2006 Insurance Barometer Study by Life Happens and LIMRA.

Life Happens, is a nonprofit organization dedicated to helping consumers take personal responsibility through ownership of life insurance and related products.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR SOLICITATION PURPOSES.

133MS-38 

 

Do Your Clients Know These 4 Things About Life Insurance?

 

 

Life Insurance isn’t the most enjoyable of topics to discuss—it causes us to face our mortality and how our loved ones will live life without us. However, it is an important aspect of a financial strategy. In addition to providing death benefit protection, it may also provide a few things your clients don’t expect.

 

Of course, life insurance is available as protection for your client’s family, should he or she pass away unexpectedly, but there are many other benefits life insurance offers that could be worthwhile to discuss at that next policy review appointment. Here are four features of life insurance your clients may not know.

 


- Death benefit proceeds can generally be received income tax-free1.


- With some life insurance products, there is an opportunity to accumulate cash value.


- Cash value can be accessed for things such as to help supplement retirement income or help pay for education costs.


- Some life insurance products offer living benefits, which can be used to help alleviate the financial burden of health care costs due to serious illness.
 


Life insurance has changed in many ways over the years, and it can mitigate various risks that may come up in your clients’ different stages of life. Have you spoken to your clients about these features lately? Take some time during your next policy review to discuss how the current features of life insurance may fit into their future financial needs.



1. Neither Midland National Life Insurance Company, nor any of its agents, employees or representatives are authorized to give tax or legal advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangement.



FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 
133MS-34 7/17

 

Introducing XL Heritage

 

U.S. Baby Boomers, your current clients, may transfer as much as $30 trillion in assets to their Gen X and Millennial children, your potential future clients.1 How are you capitalizing on this opportunity?

 

With Midland National’s new XL Heritage Indexed Universal Life Insurance, you can offer a product to efficiently help your Baby Boomer clients transfer assets with a tax favorable death benefit, while maintaining access and potentially growing cash value for emergencies, supplementing retirement funds, or heath care services.

 


What makes XL Heritage so special?


- Maximizes a legacy for beneficiaries with a guaranteed death benefit in a single premium2.

- It’s simple life insurance everyone can understand.

- Easy application process. Get an answer in typically about 20 minutes.

- No bloodwork, no doctor’s appointments, no hassle, no wait3.

- Accelerate a portion of the death benefit for a qualifying chronic or terminal illness.


Learn more about XL Heritage at www.XLHeritage.com, and start capitalizing on new opportunities today!


1. Source: (CNBC 11-30-16, Morgan Stanley 2015, Accenture. The “Greater” Wealth Transfer – Capitalizing on the Intergenerational Shift in Wealth, 2012; Accenture 2016)
2. Although XL Heritage (Legacy Optimizer) is filed as a Flexible Premium Universal Life and allows additional premiums, the product is designed for a single premium payment. There are limited benefits to adding premiums after policy issue - for example, the Account Value will increase with additional premium payments, but the guaranteed death benefit and the Return of Premium Value will NOT. Therefore, clients should carefully consider whether additional premiums should be paid.
3. Coverage is subject to health questions and pharmaceutical check.


Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

 

Indexed Universal Life products are not investments in the market or in the applicable index. Indexed Universal Life products are subject to all policy fees and charges normally associated with most universal life insurance.

 

XL Heritage indexed universal life insurance is issued on form series L145 by Midland National Life Insurance Company, One Sammons Plaza, Sioux Falls, SD 57193. Product, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
133MS-41 8/17 

 

Clients Buy Solutions-Not Products

 

 

Whether it’s filling that empty space in the refrigerator, completing a missing part of the wardrobe, or ensuring loved ones can continue on financially should the unexpected occur, people are looking for solutions to life’s needs.

 

Selling life insurance is an important job. It connects many people with a financial solution for their families in the event of their passing. However, in order for those folks to purchase life insurance, they must first be convinced of the need their loved ones may have once they are gone. They buy a solution to a need they have for financial protection. 

 

However, one size of life insurance doesn’t fit all. There are many life insurance products that fit different needs. Talking through your client’s needs before presenting him or her with a solution will help you connect them with the right product. Here are two simple things you can do to get to the bottom of your client’s needs:

 

1. Ask the right questions.

2. Be a good listener.

 

Ask your clients What are your goals in life? Where do you see yourself in 20 years? How do you plan to reach your goals? Go beyond a simple needs analysis to learn more about your clients’ needs and provide them with a better solution. Once the need has been uncovered, you can present the client with the right life insurance product or sales concept.

 

It’s easy to get caught up talking about the features of a product, but always remember that products were created to respond to needs. Discover what your clients’ needs are before selling them on a product. It can help you develop stronger relationships with your clients, set up future sales, and generate more referrals.



FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-33 7/17

 

 

What Americans Will Miss Most When They Retire

 

 

One tool that may help you do a better job of meeting the needs of retirement planning prospects is understanding how they see their future selves.

 

What do you imagine when you think of your own dream retirement? Are you sitting on a beach sipping a cool beverage, or learning a new skill like tennis? And, as you move into this new phase of your life, even if everything goes reasonably well, what will you miss the most?

 

According to new survey data from my group, the Indexed Annuity Leadership Council, the number one thing Americans expect to miss in retirement is a steady paycheck. IALC drew the results from a ORC International panel of about 1,000 adults ages 18 and older. About half say they think they will miss their paycheck after they retire.

 

Nearly half of the survey participants said they’re concerned about outliving their money. Other items that retirees expect to miss when they retire include:

 

- Social Interaction:  41%

- Daily Routine:  34%

- Health Insurance:  26%

 

 

The products you sell might not have an obvious impact on social interaction or the ability to maintain a daily routine, but life insurance and annuities can play an important role in helping retirees compensate for the loss of a paycheck, protect themselves against longevity risk and pay for health insurance.

 

Fixed indexed annuities, in particular, can help provide a steady, retirement income stream and can provide balance in a portfolio.

 

Encourage clients to check out IALC retirement calculators and start thinking about what they can do to maximize what they'll enjoy about retirement and minimize what they'll miss.

 

DO1544 6/17

 

 

Four steps to reel your clients in for an appointment

 


Summertime is here, and your clients’ calendars are quickly filling up with things like kids’ baseball games, camping, and fishing trips. If you’re starting to feel a little light on client meetings and a little heavy on free-time, here are four steps you can take to encourage your clients to make time for you to talk life insurance.


1. Opener - Establish your connection with the client. The connection will help the client welcome the call.


Hello Dave, it was good to catch up with you at the baseball game last night.


2. Thinking - Convey to the client that you’ve been thinking about them.
 

Since we last talked, you’ve been on my mind, and I have some concerns about your current life insurance coverage.


3. Concern - Explain that your thoughts led to a concern you have about them and their financial situation.


Many of the people I’ve met with have found difficulty with planning how to efficiently build and transfer a legacy to their children and grandchildren. Life insurance has changed a lot in recent years, and there are ways to guarantee a benefit amount with a single premium.


4. Action/Opinion - Ask to get the client’s opinion about a solution that could help them. Close with a call to action.


I’d like to get together with you and get your opinion on an idea. We might be able to significantly increase the amount that you pass on to your loved ones. Does next week, Thursday at 3:00 work for you?

By using the Opener, Thinking, Concern, Action/Opinion (OTCA) method, you may be able to reel some of those clients away from that next fishing trip and into the office for that next policy review.



FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-32  7/17

Are you part of the conversation?

 

 

Nobody likes to feel left out, and yet many folks in the business of sales are left out of a major conversation happening right now right under their noses. That conversation is occurring every day online with millions of people across various social media platforms around the world. The problem with being left out of this discussion is that it could be costing you countless opportunities to connect with current and potential clients.


Joining the conversation of course starts with listening to what people are talking about on various social media hot spots. However, it doesn’t end with listening. At some point you’ll need something to say, so you can contribute. After you’ve joined the social media networks that make sense for your business, you’ll no doubt be searching for ways to contribute to the discussion. That’s why Midland National has created a Consumer Blog page—a great place to find consumer-friendly content to share. From this page, you’ll find content relevant to your clients’ lifestyles.


Having a two-way dialog via social media helps you keep informed about the lives of your clients and helps deepen the relationships you have with them. Use the Midland National Consumer Blog as a way to start that dialog with your network by providing them interesting, useful and relevant information on a regular basis.



FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-30 6/17

Top 10 Questions for Your Next Policy Review

 

 

Now that summer is here, you are no doubt filling the hot days working your warm sales leads. You may even have some policy reviews scheduled. As you speak to your clients and start discovering overlooked opportunities, here are 10 questions you won’t want to overlook.

 

1. How much coverage do you have currently? Here’s your baseline question to help set the table for the rest of your discussion.

 

2. What type of life insurance do you have? Get your client thinking about the life insurance he or she currently has in place.

 

3. Why did you pick that type of coverage? Now that you have your client thinking about the type of life insurance they have, get him or her to think about what needs that coverage originally helped them fulfill.

 

4. Do you feel like this is enough coverage? What is your client’s current situation? Would the policy currently in place still be sufficient for their loved ones should they pass away?

 

5. How long has it been since you have evaluated your life insurance needs? Some people are surprised they have waited so long to review their life insurance needs.

 

6. Have your goals for your policy changed? The one constant in life is change. How have your client’s needs changed since they first purchased life insurance?

 

7. Have you experienced any life-changing events? Examples might include: marriage or divorce, birth of a child or adoption, purchase of a home, or starting a business.

 

8. Are you currently planning for upcoming life events? Maybe your client is focused on the future for things like retirement, saving for college, buying a home or starting a family.

 

9. Do you have a mortgage or other outstanding debt? What financial obligations might be holding your client back from new opportunities?

 

10. Would you or your family be financially stable if you or your spouse/partner were to unexpectedly die? This question brings it all together and helps your client recognize what gaps they may have in their life insurance coverage.


 

Based on what you’ve learned during the policy review, you can now help steer your client in the right direction to help meet their life insurance needs. If your client isn’t ready to make any changes to coverage, make recommendations confidently and help them make an informed decision for the future.

 

A Company That Stands Strong

 

 

There’s a lot you can tell from a tree by its rings—how old it was, what kind of rainfall it
experienced throughout its lifetime, even things about the environment in which it lived.
Similarly, there is a lot you can tell about a life insurance company by its ratings, and
Midland National has history of standing strong.


When it comes to protecting your clients’ financial futures, you want to be sure a strong
and stable company is behind them. That’s why we’re excited to share why your clients
can have confidence in Midland National. As a member of Sammons Financial Group1,
which was recently ranked by LIMRA as the 10th largest writer of individual life
insurance2, Midland National's story of long-term stability can be found in the numbers.
Share this consumer approved flyer with your clients to show them why they can count on Midland National to be with them now and to grow with them into the future.


We are also proud to announce that Fitch, a global leader in financial information
services and credit ratings, has recently assigned an Insurer Financial Strength rating of
A+ Stable for Midland National®, its fifth highest rating!


The rating further supports Midland National’s standing as a top tier company in the
industry. In support of the rating, Fitch cited:

- a strong business profile
- low financial leverage
- very strong statutory capitalization
- strong investment performance
- strong operating profitability
 

View the press release for more information.


1. Sammons® Financial Group is comprised of North American Company for Life and Health Insurance®,
Sammons Annuity Group SM (a division of Midland National), Sammons® Corporate Markets Group (a
division of Midland National), Midland National® Life Insurance Company, Sammons Retirement
Solutions®, Inc. and Sammons Financial Network®, LLC, member FINRA.

2. Source: LIMRA International, U.S. Retail Individual Life Insurance Sales Reports Fourth Quarter 2016
results. Sales based on annualized premium plus excess.



FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 526MH 5/17

133MS-29 5/17

 

Ensure Your Client's Needs Are Being Met With a Policy Review

 

 

As a financial professional, you help your clients choose a life insurance policy according to what best fits their needs at the time, but have those needs changed? That’s where policy reviews come in. A policy review can help ensure your clients’ needs and goals are still being met as they undergo changes and transition through all of life’s stages.

 

In some situations, Midland National’s Indexed Universal Life (IUL) insurance products can make for a great option when revisiting a client’s life insurance policy.

 

With our new IUL policy review sales concept you can learn how one financial professional used a policy review to help a couple find a solution that fit their needs by switching from a Whole Life policy to an Indexed Universal Life – Death Benefit 4 (XLDB4) policy.

 

Check out the flyer now for the full case study, plus a list of helpful tools you can use to get started on policy reviews for your top clients!

 

XLDB4 is issued on policy form series L143 or appropriate state variation by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

Indexed Universal Life products are not an investment in the "market" or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-25 6/17 

How to Win Term Life Insurance Conversions

 

 

It’s a common story. A client is at that stage in life where he or she is young, healthy and perhaps on a tighter budget. At the time, a term life insurance policy best fit the client’s budgetary needs and provided adequate death benefit protection should the unexpected occur. However, as the years go by and the policyholder’s needs grow, a conversion to a single life permanent product1 such as Indexed Universal Life Insurance (IUL) with Midland National might be a welcomed solution for those changing needs.

 

Watch this informative video to learn what type of client could benefit from a conversion and how InsMark can help you win conversion opportunities.

 

 

1. Subject to conversion requirements and products available at time of conversion. Indexed Universal Life products arenot an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES

133MS-23 4-17 

 

 

Have you popped the big question to your clients?

 

 

Right now it’s probably not hard to find a couple who are preparing for their wedding day. They are thinking of a number of things right, including planning all of the details of the big day like flowers, music, and photography. However, they may also be thinking beyond the day—thinking about sharing a life with the one they love. With that come thoughts of things like raising children and buying a home. With all of these important topics occupying their minds, have you popped the big question, “Do you have life insurance,” to the newly married couples in your life?

 

You may have clients who have told you they are getting married or may have spotted some details about the wedding on their Facebook pages. If you have soon-to-be married clients or newly married clients, it may be time to talk about scheduling a policy review with them to talk about how their needs may be changing. It might be the perfect timing while those couples thinking about how important it will be to provide their new spouse death benefit protection should they pass away.

 

How do you know if your clients have a wedding in their futures? Social media is a good start. Most people post that information social pages. Just be sure you are friends with those clients in some way on social media before you start talking to them about life events (they may not react positively to find you were “stalking them” on their page without having a previous relationship with them). Also, avoid talking to them about their potential need for life insurance at their wedding. The need for death benefit protection may go over about as well as that awkward uncle who wants to do a toast. You may also know people in your own social circles who are getting married. Have you approached those individuals about how they’ve planned for their future families?

 

Review your list of clients and prospects who have recently made a life change (like getting married), and schedule an appointment with them today.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-24 4/17 

ExactIllustrations Now Available!

ExactIllustrations, our web-based illustration software, is now available for all single life insurance products from Midland National. Powered by iPipeline’s iGO®, this software can help save you time and help make selling easier.

 

What’s new with web-based illustrations?

 

- The ability to do multiple distribution solves on the same illustration
 

- The capability to switch between standard and variable rate loans after
   the fifth policy year1

 

- The eSignature option will be available on illustrations when submitting
   through ExactApp®

 

 

Lastly, ExactIllustrations offers the integration between illustration and the eApp for a seamless submission, simplifying the process by using one system to illustrate and submit.

 

For more information, contact Sales Support at 800-843-3316 ext. 32150.

 

iGO® is a registered trademark of iPipeline.

 

1. The net cost of a variable interest rate loan could be negative if the credits earned are greater than the interest charged. The net cost of the loan could also be larger than under standard policy loans if the amount credited is less than the interest charged. In the extreme example, the amount credited could be zero and the net cost of the loan would equal the maximum interest rate charged on variable interest loans. In brief, Variable Interest Rate Loans have more uncertainty than Standard Policy Loans in both the interest rate charged and the interest rate credited.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-27  5/17

 

Using IUL To Help Clients Gain Financial Protection

 

 

Do your clients who need death benefit protection have money “stranded” in low interest bearing accounts? If so, they may be a great fit for Midland National’s Indexed Universal Life (IUL) insurance products.


To see an example of how this might work, we recommend reading our new IUL interest rate rescue sales concept. It demonstrates how one financial professional helped two clients with different needs find a better solution by proposing an IUL product.


Check out the full flyer now to start helping your clients gain more financial protection!


Indexed Universal Life products are not an investment in the "market" or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.
 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 

133MS-26 5/17 

Explaining Index Accounts-Made Easier

 

 

Sharing the benefits of Indexed Universal Life Insurance (IUL) may be something you’ve done with your clients. And you may have experienced a positive response when talking about the death benefit protection and opportunity for cash-value growth it provides. However, if you’re noticing a deer-in-headlights look when you start to explain how a linked index account works, there’s now a resource available to help.


Midland National recently developed an interactive tool that can help you walk a client through how an index account works. Using the rules of a football game as an analogy, you can use this site to help explain to your clients how an index account works.


Start sharing this with your clients today!

 

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance. 
 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 

133MS-20 3/17 

Finding Social Content Doesn't Have to Be a Challenge

 

 

If you’re reading this post, there’s a good chance you’re on social media in some form or another. If not, it may be a worthwhile business endeavor for you to explore, but recruiting new folks to join Facebook isn’t the intention of this communicae. We want to get to the heart of a different matter—finding content to share on your social media platforms.

 

A common dilemma many in the business world who have a social media presence have faced—starring down at a blank text box that begs the question “What’s on your mind?”. Once you’ve shared something on social media, the next day it’s asking you the same question. Will the demand for updated content never end?

 

Thankfully, there are a few places you can find content to help satisfy your business’s weekly sharing needs. While not a substitute for your entire social media posting plan (you’ll want to create some of your own posts to make sure you’re still speaking to your fans in your own unique voice), here are a few ways to augment your social media content strategy.

 

Midland National’s Facebook Page 
For client-approved social media content that you can share easily on-the-go, head to Midland National's Facebook page, and hit that “Like” button. You don't have to spend time searching for shareable, relevant social media content. With the click of a button, you can be a resource and stay topof-mind. Midland National's engaging content is ready and waiting for you to share with your social network!

 

Gainfully
You may have recently heard some buzz about a social media sharing tool called Gainfully. Midland National recently partnered to sponsor content on the Gainfully platform, a social media resource that provides you free access to a library of compliance-enabled content and content campaigns, instant social media sharing and sharing automation. Want access to a plethora of client-friendly material to share with your network? Sign up for Gainfully here.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-19 3/17

 

Gainfully and their products referenced do not sponsor or endorse Midland National or any of its products or services.

 

Is IUL Right for Your Clients?

 

As with many things in life, your clients have different choices when it comes to their death benefit protection through life insurance. One option is an Indexed Universal Life (IUL) Insurance policy. But what exactly is IUL?

IUL is similar to other types of insurance in the following ways:

- IUL provides a death benefit that’s generally free from federal income taxes.1

- It offers the potential (and tax-deferred) growth of a policy cash value that can be used for living needs.2

- IUL uses a fixed account that pays a guaranteed minimum interest rate.

- It can have a No-Lapse Guarantee provision.3

- IUL also offers flexible policy features that can be adjusted as insurance and financial priorities change. For example, policyowners can determine the amount and timing of premium payments and can increase or decrease the policy’s death benefit after the policy is issued.4


What makes IUL different? 
Combining the features of universal life insurance with the opportunity for cash-value growth that is linked to the performance of a stock market index, IUL can provide a client the opportunity to earn market-linked interest – without the risk of investing directly in the stock market, subject to a cap.

While your client’s cash value growth is linked to the performance of a stock market index, purchasing an IUL is not an investment in the stock market. Interest credited in an index account is based on a selected index, but funds are not invested in the stocks that make up each index—meaning an index does not include dividends paid by the underlying companies.

IUL products can be a good fit for clients who have a need for life insurance coverage but want the potential for cash value growth without the market risk. Make sure to discuss these considerations with your clients when you share IUL with them:

- No-lapse guarantee is dependent on premium payment requirements

- Death benefit or loans from a Modified Endowment Contract or a lapsed policy may not be taxfree5

- Cash value growth could be less than a fixed rate product

- Surrender charges and other charges/fees normally associated with universal life insurance

 

Talk to your clients today about your clients needs learn if IUL may be the right fit for them.

 

1. Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

2. The tax-deferred feature of the indexed universal life policy is not necessary for a tax-qualified plan. In such instances, your client should consider whether other features, such as the death benefit and optional riders make the policy appropriate for your client’s needs. Before purchasing this policy, your client should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product.

3. Subject to premium payment requirements

4. Policy changes may require additional underwriting.

5. For most policies, withdrawals are free from federal income tax to the extent of the investment in the contract, and policy loans are also tax-free so long as the policy does not terminate before the death of the insured. However, if the policy loan may be taxable upon receipt. Further, unpaid loan interest on a MEC may be taxable. A MEC is a contract received in exchange for a MEC or for which premiums paid during a seven-year testing period exceed prescribed premium limits (7- pay premiums).

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133NS-19 3/17 

 

 

Continued Success in 2017

 

Steve Palmitier Video

 

Like so many years before, 2016 brought Midland National many successes. Though we’re proud of what we’ve achieved together with you and all of our partners, we know that success is no excuse to be satisfied.


Watch this special video with President and COO of Midland National, Steve Palmitier, to see how we are working hard to continue our life insurance sales success, and yours, in 2017!

 

Watch the video!

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-21 3/17 

Frustrated With Creating Social Media Content?

 

 

What’s on your mind? As you stare blankly at the blinking cursor begging this question on your social media homepage, you may be getting frustrated with what to share with your followers. Sharing content with your social media network on a regular basis can be a daunting task. Who has the time, right?

 

While a challenging duty to be sure, keeping up your social media pages with relevant and timely content can be a critical part of your overall marketing effort. Thankfully you can stop pulling your hair out, and start putting fresh content on your social media pages with Gainfully.

 

Gainfully is a content sharing resource that gives you access to a library of social media material— including great content from Midland National. Through Gainfully, you can choose the content you want to share and then schedule it to automatically be posted on your Twitter, LinkedIn and Facebook feeds.

 

While not designed to replace your entire social media marketing plan, Gainfully can help connect you with approved content that allows you to engage with clients across platforms, share approved marketing resources and spend less of your time stressing over what to say to your network.

 

Sign up for your fee Gainfully account here: https://gainful.ly/signup/midland-national/261/#/.

 

When you join, don't forget to follow Midland National and get easy access to our preapproved client posts!

 

Gainfully and their products referenced do not sponsor or endorse Midland National or any of its products or services.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-15 12/16 

 

Take Some time to Thank Your Customers This Week

 

 

Gracias, merci, arigato—no matter how you say ‘thank you’ the important part is saying it. There’s no better time to show your customers your appreciation than this week. January 2–6 is National Thank Your Customers Week. Take some time out of your day to reach out to your customers and thank them for their business!

 

Looking for some ways to say ‘thank you’ to your customers?

Send your customers a small gift such as a gift card to a favorite restaurant, coffee shop, or local grocery store.

Host an appreciation event for your most important customers.

Hold a giveaway on your social media pages for a nominal gift as a ‘thank you’ to your followers.

And of course, nothing beats a good old-fashioned handwritten note.

 

Through thoughtful gestures such as these, you can help your customers feel good about doing business with you and build stronger relationships with them. That of course can translate into more business, increased referrals and most importantly happy customers.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-15 12/16 

 

 

Are Your Sales Calls Half-Baked?

 

 

Making calls to clients and prospective clients is a big part of keeping your plate of business full. If you feel like your calls could be yielding you more satisfying results, here is a recipe that might help you find more success.


Imagine someone trying to make a cake without buying any of the needed ingredients or without even knowing what kind of cake they’re baking. Likewise, when you start a sales call without clearly identifying the desired end result and without using the right steps, you set yourself up for disappointment. Consider the following ingredients for avoiding a classic sales call fail.


Ingredients


Clarify: Is the end goal to qualify a new contact? Is it to set up an appointment? Maybe you want your client to take advantage of a new strategy or try a new product. Whatever the case, make sure you determine what type of call you’re making before you start.

Preheat: When you have a lot of calls you want to get to, it can be tempting to start without doing the preparation. Make sure you don’t cut corners when it comes to the pre-call research that will help you develop better questions and better connect with your clients during the call.


Add spice:  Avoid diving into a sales pitch too fast and add some spice to your conversation. Use what you found in your research to talk about your client’s interests and about things happening in their lives—build rapport through relevance.

Knead thoroughly: Ask good, open-ended questions to help you unearth their needs. Then allow them time to tell you how you can help them.

 

Present: We all look to others for advice. Now that you’ve helped your client work through their needs, what helpful information about what you can offer will speak to those needs and help them get to a decision about how to move forward? Be sure to keep the conversation focused on the customer’s needs without getting too steeped in information that may overwhelm them.

 

Take the order: By now your client should be in agreement that the proposed action meets their discussed needs. Recap with them what your solution is, and ask them to proceed with your proposal.



Add the icing: What other things can you offer to add value to your client? Just because you’ve accomplished your goal for the call doesn’t mean it ends there. Be sure to follow up with your client—thank them for the call, help them get started and check in regularly to keep the relationship warm.


A good sales call starts with a clear purpose in mind and ends with a mutually beneficial and stronger relationship between you and your client. This recipe should help you bring more effectiveness to your sales calls, and hopefully all this talk of food is making you hungry to talk to more clients.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-13 11-16 

 

It's Game Time with Midland National!

 

 

 

As the end of the year is wrapping up, it’s time to submit your life insurance business. John and Michael with Game Time help breakdown the three major plays that are needed for a life insurance victory in the fourth quarter:


1) Speed. With ExactApp improvements and new underwriting enhancements, you can quickly submit your business.

2) Tools. The Midland National Portal has many tools and resources you can use to help grow your life insurance sales.

3) Star players. Check your inforce business access on the website for conversion opportunities.


Watch the video to help you finish strong in 2016!
 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-15 12/16 

 

 

Keep Your Schedule Full This New Year

 

Adding up holiday credit card bills, fixing up the snow blower, storing those winter decorations—these are all productive ways to pass the time in New Year. But if you’re eager to get business kicked off strong in 2017, you’ll want to have plenty of client meetings on the books for the New Year. A life insurance policy review may be your key to a full schedule.


We all know the New Year is a time for resolutions—many of which involve improving finances or tackling the things that have been put off for too long. That’s why it’s an opportune time to ask your clients to go through a policy review to start their New Year off right.


A policy review can help your clients make sure their current policy continues to meet their current needs and is still performing to expectations. Here are a few ways a review can benefit them this season:

 

     -  A review may help them save money by reducing premiums.

     -  They may be able to pay the same premium for an increased death benefit.

     -  A review could save the policy from lapsing.

     -  Strength and stability is important in a life insurance company.

     -  A review can confirm the stability of their life insurance carrier.

     -  Your client may want to adjust their coverage to keep pace with their changing                needs.

     -  A review can also help reexamine a potential need for new benefits.

 

Help your client meet some of their financial goals for the future by setting up a policy review appointment with them today!

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-12 11-16 

 

8 Underwriting Enhancements to be Thankful for

 

You’ve met with your client, shown them the importance of death benefit protection to leave their loved ones in a better financial situation should the unexpected occur—now it’s time to see what offer for life insurance you can make them. With the latest underwriting enhancements, the offer they receive might be even better than it would have been before.

 

Let’s say your client’s name is Jake. He’s a 51 year old male that recently discovered he suffered from sleep apnea. He is compliant with treatment and now has the apnea well controlled. As you may have found in the past, this condition would have limited Jake to Standard Non-Tobacco rates. Thankfully because of our latest enhancements, we can now approve Jake at Preferred Plus Non-Tobacco rates.

 

You may have already noticed these changes, but just in case, here are eight underwriting enhancements, you might be thankful for this season.

 

1. We will no longer offer table A ratings. Going forward, risks assessed at table A will be offered a standard rating.

 

2. Recreational Marijuana Use:

a. Ages 21+: We will consider as non-tobacco users if urine is free of nicotine. Ratings will be dependent on the reason for using. Preferred and preferred plus will not be allowed.

b. Age 21 & Under: Tobacco rates will apply for recreational use. Ratings will be dependent on the reason for using. Preferred and preferred plus will not be allowed.

 

3. Treadmill EKG’s and MD exams are no longer required at any age or face amount.

 

4. Applicants that have medical conditions that are not severe enough to cause them to be table rated may now be considered for a preferred underwriting class if they meet the preferred criteria. Examples of these medical conditions include things such as non-ratable asthma and sleep apnea.

 

5. Medical and financial evidence can be accepted for up to 12 months for risks through table H and through age 70.

 

6. Medical and financial evidence can be accepted for up to six months over age 70 providing an APS is obtained.

 

7. When determining total line for requirements, we will only include "applied for" and "in force" coverage within the past two years.

 

8. Pregnancy & postpartum cholesterol: During the second and third trimester and up to two months postpartum, cholesterol may be up to 350 and still receive a preferred rating, as long as the ratio meets the written criteria.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-11  11-16

 

Don't Let Your Time Get Gobbled Up

 

 

This time of year, it can be all too easy to grow a little lackadaisical when it comes to your work. People and prospects are either difficult to reach or out of the office completely, and you may already be counting your successes from the year, feeling content and satisfied. But there’s still plenty of 2016 left. Don’t squander that time, and make sure you’re using it as wisely as possible.

 

First things first, if you have any prospects that may still be on the fence, follow up with them. We recommend using the OTCA Method, which works great for a client that either hasn’t made up their mind, or is new to life insurance altogether. Give them a call and get a meeting scheduled once and for all. If you needed a refresher, you can learn more about the OTCA Method here.

 

The end of the year is also a good time to wrap up any pending business you may have. Check out your pending business report to be sure. Get it taken care of before the New Year, and all of the craziness that comes along with it, begins.

 

So you’ve exhausted all of your leads and no one’s picking up the phone, now what? You can finally start thinking about the New Year. The more prepared you are for it, the better. Make a priority list, set your goals, schedule your January appointments, do everything you can possibly do to make yourself ready. Here are a few ideas:

 

-  Make a list of people that didn’t work out this year, and consider trying them again next year.

-  Take a moment to send a holiday card to your current clients as well as people you feel will be good prospects for next year.

-  Make a list of Term Cases (using Inforce Business Access) to find conversion opportunities.
 

The more prepared you are, the less scrambling you’ll have to do come 2017. The idea is to hit the ground running, rather than find yourself in a hole that you have to spend the entire month of January digging yourself out of. That’s time and dollars lost.

So if you find yourself twiddling your thumbs, remember there’s plenty to be done! Don’t check out of 2016 too early, and make sure you’re ready for the New Year!

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 11-16 

133MS-14 

 

The Scariest Thing About Life Insurance? Being Underinsured.

 

 

Think back to when you were a child. You’re lying in bed on a dark, Halloween night, unable to sleep as a thunderstorm rages outside. The wind screams like a deranged banshee, the house creaks like the boogey man on the prowl, and shadows dance in the moonlight, casting sinister shapes onto the wall. A flash of lighting illuminates your bedroom for a split second, revealing a big four-eyed monster where your dresser used to be. Just then a clash of thunder explodes outside. You jump in terror as you grasp for your blanket for protection, but your blanket isn’t there! The horror!

 

It’s instinct for humans to protect themselves. We’re naturally compelled to act with self preservation and to protect ourselves and our families from danger. The thought of being without protection is just plain scary.

 

In a way, life without life insurance is kind of like being without your blanket on a dark, ominous night. There are too many unknowns lurking out there, so protecting yourself from what could happen just makes sense.

 

That’s the power of life insurance. Be sure that your clients understand that with its death benefit protection, life insurance can provide peace of mind that their family will be better taken care of if the unexpected were to happen. It can help cover the deceased’s expenses, the funeral, help make up for lost income and more. It can alleviate fears that a lot of clients may have, or may not even realize they have.

 

According to LifeHappens.org, 1 in 3 households would have immediate trouble paying living expenses if the primary wage earner died. The study also found that 40% haven’t bought life insurance, or more of it, because they’re unsure about how much or what type they should buy. That means that 40% of people are underinsured, and unprepared for tragedy. That’s pretty scary.

 

That also indicates that people may be interested in life insurance, but they could be holding back out of fear of the unknown – what type of life insurance to buy, and how much to buy.

 

If you know of any clients who currently don’t have life insurance, it may be helpful to approach them from a place of understanding that they may be afraid. We’re all looking for security in life, and life insurance may be the security blanket they need. It may not protect them from ghosts and goblins, but it certainly can help protect their family’s financial future.

 

Life Happens, is a nonprofit organization dedicated to helping consumers take personal responsibility through ownership of life insurance and related products.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-10  10-16 

 

 

 

 

Be More Aware This Breast Cancer Awareness Month

 

 

One in eight U.S. women will develop invasive breast cancer during her lifetime. Breast cancer is the most commonly diagnosed cancer in women, and according to nationalbreastcancer.org, it is estimated that over 246,660 women in the US are diagnosed with breast cancer and more than 40,000 will die from it each year.

 

The good news is that many women can survive breast cancer if it’s found and treated in its early stages. Although great strides have been made in breast cancer research, awareness and early detection, breast cancer still presents a significant threat, with the potential to not only effect the lives of thousands of women, but also the lives of their family.

 

With October being National Breast Cancer Awareness Month, it’s a great time to ensure you’re taking the necessary steps for prevention and early detection. Get screened regularly, administer self-exams and live a healthy life. For more information on breast cancer prevention visit www.cdc.gov/cancer/breast/.

 

This month also serves as a reminder of just how prevalent breast cancer is, and how deadly it can be, which is all the more reason to be prepared for the unexpected with life insurance. The primary purpose of life insurance is to provide a death benefit protection. But it can also serve as a flexible way to help cover some of the medical expenses associated with a serious illness like breast cancer.

 

So this month as you’re keeping breast cancer awareness and protection top of mind, make sure you’re also thinking about the protection life insurance can provide so you and your family can be better prepared in the event of the unexpected.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-9 10-16 

 

Sales Builder Life Insurance Series: the OTCA Method and the DIME Approach

 

 

Help build your life insurance business with two of our favorite techniques: the OTCA Method and the DIME Approach. These two processes can help you reach out to clients, write larger cases that fit your clients’ needs, and help grow your life insurance business.

 

Sometimes the hardest part of a policy review is initiating the conversation with your client. The OTCA Method helps you open the conversation in four easy steps: opener, thinking, concern, action. An opener is something that relates you to your client or prospect. Then, let them know you are thinking about them and the changes that may be happening in their life. Express concern that they may need to reevaluate their life insurance needs. Then close by asking your client to take action by making an appointment with you.

 

Once you’ve used the OTCA Method to schedule an appointment with your client, it’s time to use the DIME Approach. This technique helps your clients understand just how much life insurance they need without completing a full fact finder. Ask your clients to fill out a worksheet that addresses four major areas: debt, income, mortgage, and everything else. This helps your clients see how much life insurance they may need in the future, and help you write larger cases that fit their needs and can lead to better persistency.

 

Visit our site to watch videos of each technique in action, and to find the materials you need to help build your life insurance sales with the OTCA Method and the DIME Approach.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-8  10-16

 

What Do Our Latest Underwriting Enhancements Mean for You?

 

 

You may have heard the exciting news about our latest life insurance Underwriting enhancements. But how can these enhancements help you and your clients in the real world?


Meet Steven… Steven’s cholesterol was 275 on his blood test with a cholesterol ratio of 4.8. The rest of his medical history is favorable, and he otherwise qualifies for Preferred Plus. However, in the past Steven has been limited to Standard rates. The good news is, with the new guidelines, Steven would now qualify for Preferred Plus rates!


Want more examples of how our new Underwriting Enhancements are changing the game? Check out seven case studies that show how these enhancements might change the game for you.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-6 9-16 

 

How Does an Index Account Work?

 

How an Index Account Works in Simple Terms

 

Indexed Universal Life Insurance provides two advantages: death benefit protection and an index account that shields you from negative returns through a zero percent floor and subject to a cap. But what exactly does that mean?

 

We recently created a consumer-friendly, interactive website that walks you through how an index account works—in simple, understandable terms.

 

Check out the new site here!

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

133MS-7 9-16 

 

 

Gain an Edge with IUL Series: Risk #3 Serious Illness

 


Health problems can strike at any time. Fortunately, Midland National can help alleviate the financial burden in case of serious illness. With the Accelerated Death Benefit Endorsement, Indexed Universal Life (IUL) insurance offers policy holders the flexibility to access a portion of the death benefit should the primary insured be diagnosed with a covered illness. The Accelerated Death Benefit Endorsement is automatically included at issue for no additional premium.1
 

Visit this site to find materials you may need to help your clients prepare for their future in case of serious illness, including:

     • Policy Review Sales Idea flyer
     • Accelerated Death Benefit Endorsement Feature Card
     • Living Benefits Customer Brochure
     • And more!

 

For more information about how you can help your clients gain an edge with IUL, visit life.midlandnational.com/IUL-Edge.


1. Subject to eligibility requirements.

There is no additional Monthly Deduction or premium charge for the Accelerated Death Benefit Endorsement. However, the actual payment received in connection with any acceleration will be discounted and is lower than the Death Benefit amount accelerated. In addition, there is an administrative fee required at the time an election is made.

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness is issued on form series TR169, Accelerated Death Benefit Endorsement - Chronic Illness is issued on form TR193, CA only, by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, endorsements, riders or issue ages may not be available in all jurisdictions.

Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California (Form 20501) that includes this comparison. Comparison is for solicitation purposes only, not for conversions.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-4  9-16

 

September is Life Insurance Awareness Month

 

LIAM

 

Every September, Life Insurance Awareness Month helps remind us how life insurance can provide financial protection for our clients and their loved ones. Life Happens®, a non-profit organization, promotes Life Insurance Awareness Month and encourages people to evaluate their needs and take stock of their current life insurance. This great campaign is an excellent reminder of the importance of our work.


LifeHappens.org has many downloadable resources you may use, such as:


• Marketing guides to help you plan your promotions
• Videos and flyers with this year’s spokesperson, Danica Patrick
• Social media content and graphics
• Customizable materials to help you grow your business
• And much more!


Start your 30-day free trial on LifeHappens.org and gain access to these tools and materials.


Life Happens® is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families' financial futures. Life Happens does not endorse any insurance product or agent. Danica Patrick is a paid spokesperson retained by the nonprofit organization Life Happens. She does not endorse Midland National or its products or services.

Please note that any materials from Life Happens® used to promote the sale of a Midland National product will need to be submitted for review by Midland National’s Ad Review Department before they can be used.


FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

133MS-3 9-16 

 

The Benefit of Living Benefits

 

Living Benefits Image

 

Critical illnesses seriously affect the lives of Americans every day. Not only do they disrupt family life, but they wreak havoc on just about anyone’s finances. To put that into perspective, here are some of the costs one may expect to pay for an extended illness:

 

- Private room in a nursing home – $92,378 per year1

- Assisted living facility (private one bedroom) – $43,539 per year1

- Licensed home health aide (non-Medicare certified) – $46,332 per year1

- Average out of pocket expenses for cancer patient – $20,000 per year2

 

Fortunately, life insurance can offer a way to help pay for these potential exorbitant costs. In addition to the death benefit, accelerated death benefits (living benefits) can be added to a policy, subject to eligibility requirements. Not only do living benefits offer the opportunity for access to the death benefit while living, but they can be an added sales opportunity for the agent. 

 

The way living benefits generally work is, in short, if the insured were to be diagnosed with a qualifying illness, the policyowner can choose to accelerate a portion of the death benefit3 so they have access to the money while they’re still living.

 

Midland National has a variety of options for living benefits that vary in coverage, qualifications and complexity. To learn more about living benefits and the options Midland National has available, view our Accelerated Death Benefit Endorsements here on Supply Online. Otherwise, here are a few quickhitting facts about Midland National’s living benefits that may help you and your clients make a betterinformed decision when it comes to life insurance with living benefits.

 

How does someone qualify for living benefits (accelerated death benefits)?
Written certification from a physician is required to confirm the insured meets the definition of the qualifying event. There is no waiting period after the policyowner elects to accelerate the death benefit, as long as a physician certifies that the insured meets the qualifications for the benefit as it is defined in the endorsement. For complete details regarding the definitions and qualifications of these benefits, please refer to the endorsement form.

 

How much of the death benefit can be accelerated?
The total amount of death benefit available for acceleration is $1,000,000 per policy.

Do I have to spend the money on medical-related expenses?
Generally, the accelerated benefit payment can be used for any purpose with few limitations or restrictions on benefits.

Are there tax consequences?
Since the accelerated benefits are life insurance proceeds, they are generally tax-free; however there are circumstances that can make them taxable. Midland National does not give legal or tax advice. Please consult with and rely on a qualified legal or tax advisor.

 

Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

1. Source: Genworth 2016 Cost of Care Survey, April 2016. Median cost is quoted.

2. Source: “The High Cost of Cancer Care: Your Money or Your Life?” Newsweek, July 23, 2015.

3. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated. An administrative fee is required at time of election.

 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
113MS-1  8-16
 

Getting the Best Out of Our MN Portal

 

 

 

Whether you’re an experienced Midland National agent or you’re just getting started, our new MN Portal offers a variety of resources all in one place that we hope you’ll find very useful. Covering a wide range of topics and tools, the MN Portal is easy to use and is designed to help you every step of the way. Here are just a few of the ways you can utilize this excellent resource.

 

MN Portal Site

 

Getting Started

So, you’ve just signed on as an agent with Midland National. So now what? The “Getting Started” section on the MN Portal houses a variety of resources to help you get your feet wet. It’s even handy for seasoned veterans who might just be looking for a quick reference. Find underwriting guidelines, illustration software instructions, products at-a-glance, and so much more. Plus, here you can get acquainted with or brush up on our Term Life Insurance, Universal Life Insurance, and our Indexed Universal Life Insurance through quick reference guides.

 

Sales Concepts

When the time comes to pitch, you don’t have to just wing it. Our Sales Concepts page offers ideas to help you sell, especially if you’re pitching certain benefits of life insurance beyond the death benefit. For example, one great angle you can take is “interest rate rescue,” based on the idea that many clients may have money that’s “stranded” in low-interest bearing accounts. Permanent life insurance can be an attractive alternative in comparison. Here you can access resources to drive that message home, from a consumer presentation to a sales idea flyer. And that’s just one example of the kind of sales concepts, tools and resources available on this page. So you’ll definitely want to bookmark this one.

 

Social Media

In today’s world it’s practically a requirement for businesses and brands to be active on social media in one way or another. But it can be difficult to know where to begin, and where to take your social media content and strategy. That’s why we have a whole page devoted to social media, where you can access all kinds of social media tips and resources, from a LinkedIn Quick Start Guide for getting yourself set up on LinkedIn, to a Social Media Compliance Cheat Sheet to make sure you’re staying on the up and up in regard to compliance, and so much more. And when it comes to the actual content for posting, we’ve already done the work. Utilize our social media content plans created specifically for you!  These are just a few of the great resources available to you on the MN Portal. 

So what are you waiting for? Start using it today.
Access the MN Portal by visiting
http://life.midlandnational.com/MNPortal.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

24545  8-16

 

 

The Product Selector You've Been Waiting For

 

 

Death benefit guarantees, low cost, early cash values, cash value—what’s your client’s focus? Apart from death benefit protection, what needs does your client have that can help you find them the right life insurance product fit? With our new, easy-to-use online resource you can locate a product that makes sense for your client. Find your client solution here!

 

22904-14 7/16

 

Gain an Edge with IUL Series: Risk #2 Outliving Assets

 

Living a long and happy life is a goal we can all aspire to, but what happens when a long life leads to a depletion of assets? With Indexed Universal Life insurance (IUL), your clients can have the protection of a death benefit as well as the opportunity to accumulate cash value on a tax-deferred basis1 to help with expenses during retirement. Visit the website to find the following tools to help your clients prepare for their retirement years with IUL.

 

Retirement Planning Opportunity Tracker – Use this worksheet to help you determine which clients might benefit from learning about the value of an IUL policy.

 

Retirement Planning Client Flyer – Share this flyer with your clients to show them how an IUL policy can provide death benefit protection and can help supplement retirement income.

 

For more information about IUL and for materials you can use to help your clients, visit life.midlandnational.com/IUL-Edge.

 

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

 

1. The tax-deferred feature of the indexed universal life policy is not necessary for a tax-qualified plan. In such instances, your client should consider whether other features, such as the death benefit and optional riders make the policy appropriate for your client's needs. Before purchasing this policy, your client should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product. Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

24077-18  8-16

 

 

4 Things You Can Do With Social Media to Help Make the Sale

 

 

 

Wouldn’t it be great if there was a magic list of clear steps to follow to make a life insurance sale on social media? Unfortunately, there’s not. There’s no single linear way to guarantee a sale in the digital field. But that doesn’t mean you should avoid it altogether, because that could mean missing out on big opportunities.


So rather than thinking of it as a set of specific tasks, like you might with face-to-face selling or cold calling, social media sales are more about cultivating your presence and doing a variety of things that all have a hand in helping you close. To get you started, here are four important things you should be doing on social media that may ultimately lead to sales. It’s no magic list, but it’s a start.


1. Listen – Get to know your prospects. Not necessarily their demography, their birthdays or the names of their spouses and pets, but try to understand their needs and their pains through social listening. Follow them online. Pay attention to what they’re posting and sharing, and listen closely. You may glean a deeper understanding of them that you could never get through a cold call.


2. Become a resource – Once you understand your prospects’ needs and pains, become a helpful resource to them. Not by pounding them over the head with a pitch or schlepping out your contact info and linking to your website, provide them with useful, impartial information. Share articles, provide helpful, “non-salesy” content on your website, and offer helpful advice through the voice of a specialist, not of a salesperson.


3. Add social media icons – This may seem obvious, but before you can develop relationships with people online, they have to be able to find you. It’s important to make sure your social media icons are properly linked and prominently displayed on your website. You should also make sure your website is linked in the bio or “about” sections on your social media pages. You can even take it a step further and link all of your social media pages to one another.


4. Use your blog – Everyone seems to have a blog these days, but not everyone actually uses it. There are many benefits to blogging – better SEO (search engine optimization), new content for sharing on social media, and by authoring your own content that’s useful for your prospects, it can help you present yourself as a smart and informed specialist. And when the time comes to buy, hopefully they’ll think of you first.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

24430 7-16 

 

Gain an Edge with IUL Series: Risk #1 Dying Too Soon

 

 

One of the reasons people purchase life insurance is because of the risk of dying too soon. With Indexed Universal Life, your clients’ loved ones can maintain their lifestyle in case of an unexpected death. Use the following resources to help your clients determine how much life insurance they may need to help protect their beneficiaries.

 

Family Needs Analysis – Use this worksheet to help your clients see an in-depth look at their current and future needs. This analysis helps show your clients three important steps that impact the need for death benefit protection: protecting their family, building cash value, and planning for retirement.

 

DIME Worksheet – Provide your clients with a snapshot of their current and future needs by conducting a DIME analysis. DIME easily show shows your clients just how much life insurance they may need by examining their debt, income, mortgage, and everything else. This simple worksheet is great for brief meetings, lunch get-togethers, or other times when conducting a full Family Needs Analysis may not be feasible.

 

For more information about IUL and for materials you can use to help your clients, visit life.midlandnational.com/IUL-Edge.

 

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

24077-17  7-16

 

It's Still Never Been a Better Time to Do Business with Midland National

 

Take a peek into a day in the life of Steve Palmitier, Midland National President and COO, to learn more about why the entire team is excited about the ways Midland National is supporting you in your success.


Watch the video here.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

2204-13 6/16

 

Client Relationships are More Important Than Ever

 

As more and more business professionals scratch their heads over how to reach the millennial generation while adapting to changing technology demands, personal relationships still remain an important part of the life insurance business.
 
Read Chief Distribution Officer, Jerry Blair’s featured article in LifeHealthPro to find out why.
 
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES
 
24120-1 6/16
 

 

 

Achieve Results with SMART Goals

 

Everyone has goals they would like to achieve, whether they are professional, financial, or personal. Many of these goals are placed on the back burner due to the stresses of everyday life. To help make sure your goals get accomplished, transform them into SMART goals.

 

Turning vague ideas into achievable, manageable goals is easy when you remember the SMART acronym: Specific, Measurable, Attainable, Relevant, and Time-bound. Tackle your goals with these five criteria:

 

Specific – Your goals should be clear and concise. Take a lofty goal, like wanting to increase your life insurance business, and make it more concrete, like saying you’d like to sign more life insurance clients. Breaking down larger goals into smaller ones will make them easier to achieve.

 

Measurable – Choose a goal that allows for measurable results. This will help you track your progress and also keep you accountable. Instead of saying you want to increase your life insurance business, say you’d like to increase your life insurance business by signing five new clients. This will give you a solid goal to work toward.

 

Attainable – Make sure your goals are realistic and can be achieved. You want to set yourself up for success, not failure. Be sure to acknowledge the amount of time and resources you have to help you achieve your goal.

 

Relevant – This is the “why” question – why do you want to achieve this goal? Do you have a reason for it? Is it part of a bigger picture? If you don’t have an answer, you may need to rethink your end goal.         

 

Time-bound – Give your goal a time frame to help stay on track. A timeline helps you stay motivated and disciplined, especially when other issues arise that may make you want to pause your goal. A sense of urgency and a framework will help you complete your goal now instead of later.

 

What are your goals and how can you turn them into SMART goals? Try it and see how it works for you.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

24041 6-16

 

 

Life Insurance for Every Stage of Life

 

We all know that life insurance is important, but we also know that many people put off getting life insurance until later in life. However, life insurance is important at every stage of life. From providing final costs in case of a sudden death to helping prolong the lifestyle of loved ones, life insurance can be beneficial, no matter what age.

 

In their 20s, life insurance is probably not at the forefront of your clients’ mind, but it could be argued that this is the best time to get a life insurance policy. Policies can be cheaper and in case of the unthinkable, it’s a good time to prepare for final costs.

 

In their 30s, your clients are probably getting married, starting a family, and buying their first home. With so many life changes, it’s also important to consider life insurance. Your clients are no longer only taking care of themselves, but also providing for others. Setting up a life insurance policy helps ensure that their loved ones can continue their lifestyle, just in case.

 

In their 40s, your clients are growing in their careers and acquiring assets. Their children will also be going to college soon. With this in mind, your clients will need a comprehensive life insurance policy that provides financial protection for the future of their loved ones.

 

In their 50s, your clients are often taking care of aging parents while also supporting their college-aged children. With this responsibility, it’s very important they are covered by a life insurance policy, seeing as they have many dependents.

 

In their 60s and beyond, your clients are preparing for retirement and making plans to pass on their legacy to their loved ones.  Life insurance policies can provide a death benefit to their loved ones and help supplement retirement needs.

 

Life insurance is important at every stage of life. Make sure your clients are protected and have enough coverage, no matter their age.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

 

240405-16

 

Five Overlooked Efficiencies for Small Businesses

 

It could be argued that there is nothing more American than starting a small business. But unfortunately, 50% of new companies in the United States fail in their first five years of business.1

 

Many small businesses fail simply because they run out of funds, but almost all small businesses have overlooked efficiencies that can cause collapse. Here are five mistakes to keep in mind if you’re a business owner or you’re thinking about starting a small business.

 

1. Not understanding the customer. Customers are the ones who pay the bills, so it’s important for small business owners to make sure they are meeting all of the needs their customers’ request. Spending time, energy, and money figuring out exactly what your customers want and how they want it is a crucial part of a thriving business. Ignoring customer requests is a surefire way to harm your business.

 

2. Poor management. Many people lack the training, experience and expertise in areas pertinent to running a business, such as purchasing, production, finance, hiring, and managing employees. A sign of a good manager is someone who seeks help or assistance in areas where they may be lacking knowledge. Shelling out a few dollars to bring in an expert will save a lot more money than learning the hard way. 

 

3. Lack of planning. All businesses, no matter how big or small, need to have a business plan. The business plan should address the business’s description and mission, needs, supply, expenses, budgets, marketing and more. Having a thorough and well thought out business plan helps to keep expectations realistic and helps prepare for any shortcomings.

 

4. Too much planning. A business plan is a double-edged sword. While a business plan is important, businesses should also remain flexible and realize that not all answers to their problems will be found within the plan. Owners should remember to use their business plan to help make decisions, but they must be aware of trends, competitive scope and other extraneous circumstances that may require a change of plans.

 

5. Not using the internet to market your business. In today’s society, if your business doesn’t have a website, it might as well not exist. Having a professional, well-designed website, along with a presence on social networking sites, are great ways to spread the word about your business and gain credibility and trust with your customers.

 

Starting a small business is no small feat. Creating systems and processes, while remaining flexible and acknowledging when you need assistance, can only help a small business succeed.

 

 

1. U.S. Bureau of Labor Statistics, Business Employment Dynamics. April 28, 2016. http://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

24039 5/16 

 

Stop Wrestling with How to Effectively Find Prospects

 

Many people grew up watching their favorite professional wrestlers on TV. They were big, they were athletic, and they seemed to be at the top of their profession. While some of their moves may have been fake, the lessons about sales we can learn from them are real. If you’re feeling sidelined when it comes to finding new prospects, here are a few tips to get you back into the ring.

 

Be vocal. You might use many different adjectives to describe professional wrestlers, but quiet and meek are not likely among them. Don’t be afraid to let your natural markets know what you do.

 

Be good on the mic. Brush up on your phone skills, because it can help you sell. Develop a strong script, pick up that phone and make the call like a champion!

 

Don’t be afraid of jumping. Face your fears, and dive off that top rope into the crowd. In other words, if you aren’t comfortable doing things like going door to door to scout new business—you might find that you land softly into some leads.

 

When you feel like tapping out you probably should.  In sales, stopping at the word “no” can leave you with many untapped opportunities. However, it’s also important to know when it’s time to “tap out.” If you are receiving rejection more than you feel like you should, stop revaluate, and adjust your strategy.

 

You can’t be a tag team champion without a partner. Identify an accountability partner to help make sure you are hitting your goals and to keep you on task with your prospecting strategy.

 

Remember, the greatest champions are always looking for their next victory. Be sure you’re asking for referrals from your clients always asking yourself “who’s next?” and continuing on a career of winning new clients.

 

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

24003 5/16

 

 

Mom's Need Life Insurance Too

 

They patched up our skinned knees, they attended all of our soccer games, they made us eat our vegetables—the value our moms have to us is infinite. With Mother’s Day quickly approaching, people are no doubt thinking about all the different reasons they are thankful for their mothers. But are your clients thinking about their financial need should they ever lose this important part of their lives?

 

With all of the different jobs our mom’s manage (sometimes at the office and sometimes at home), it can be difficult to put a dollar amount of the value a mom brings to the household income. Salary.com recently attempted to put a price tag on the job of being mom. According to their annual survey, the average stay-at-home mom is worth approximately $120,000 per year1. While the value in dollars that our mothers contribute to our lives might be elusive, there is no question that many families would feel a significant financial impact should a mother pass away. Here are a few areas your clients should consider when preparing for the worst.

 

Child Care: How much in extra child care costs will be needed to take care of children with one less caregiver in household?

 

Household Services: No matter who takes care of household duties like cleaning, maintenance, yard work, and cooking, the burden created by one less person in the house to help manage these things could be a significant one. How much would it cost to hire someone to help keep the household running?

 

Working Salary: If your client is a working mother, how much will be needed to replace the lost income? Would other expenses such as additional child care, additional and home upkeep needs be a factor be a concern? 

 

While the loss of a mother can be emotionally devastating, the financial impact doesn’t have to be. This Mother’s Day, make sure your clients are informed about the importance of having adequate life insurance coverage for in case of the loss of one of the most valuable assets a family can have—mom.

 

 

1. Source: Salary.com’s 14th Annual Mom Salary Survey. Accessed 4/18/16. http://www.salary.com/mom-paycheck/

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23945 4/16

 

Remind Clients to Review Beneficiary Designations After Major Life Events

 

On April 14, National Ex-Spouses Day is observed. While an unusual day to celebrate to be sure (there seems to be a national day for every date on the calendar), it is a good reminder to clients about the importance of updating their life insurance beneficiary designations.

 

Insurance is one of those things in life that you are happy you have when it’s needed but perhaps would rather not have to think about when you don’t. As a set it and forget it necessity, people don’t always consider the implications to their life insurance after a major life event like divorce takes place.

 

Who’s receiving the death benefit?
It may go without saying, but your clients likely do not want their death benefit going to somebody who is no longer a major part of their life. Having the wrong beneficiary designations can lead not only to the wrong people receiving a death benefit, but it can also lead to unintended conflicts and perhaps even legal disputes among the people the insured leaves behind. Don’t forget, while divorce often leads to people removing beneficiaries, it may also flag a potential need to add new ones based on other life events such as remarriage.

 

While there are instances where someone may want their ex-spouse to continue to be a recipient of their life insurance death benefit, a divorce is an example of an appropriate time to have your client review their designations to be sure they still have the right people as beneficiaries.

 

How much coverage is needed?
A major life event like a divorce may also be a good time to review your client’s coverage to be sure it still matches their changed lifestyle. There are a variety of circumstances that may cause a need to update your client’s coverage, including: changing pattern of income, new family priorities and life goals, or new family members (such as after a remarriage). Make sure your clients still have the amount of coverage they need to adequately provide for their loved ones should they pass away.

 

Is a Policy Review in order?
As with any major life change, a Policy Review may be a comprehensive and necessary way to help your clients evaluate their future needs and goals. It will also help you define a life insurance strategy that is right for them. 

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23819 3/16

 

 

Your Clients Don't Have to Pick Between Lifestyle and Coverage Needs

 

“I know life insurance is important, but we don’t want to have to change our standard of living to get more of it.”

 

According to a survey, 86% of people say they haven’t bought life insurance because it’s too expensive, yet overestimate its true cost by more than double what it really is.* If misconceptions about life insurance are keeping your clients from purchasing adequate coverage, here are a few steps that will help you get them into the policies they need.

 

Step 1: Identify the right client

Can you think of clients that may not have enough coverage? If cost of coverage is holding them back, try taking them through a Cash Flow Analysis.

 

Step 2: Know the concept

Learn about the features of life insurance that can help your clients bridge the gap they may have in coverage.

 

Step 3: Review the policy

A policy review is a great way to help you get more specific about your client’s current needs.

 

Step 4: Find the Right Solution

Here are a few affordable solutions for your clients:

 

·  Premier Term
·  Essential Guaranteed® Universal Life

 

Need more help? Click here for your Bridge the Gap Toolkit.

 

 

 

* Source: LIMRA and LIFE Foundation 2013 Insurance Barometer Study.

 

Essential Guaranteed Universal Life (policy form series L138) and Premier Term CS7 (policy form series T142) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23100-25  1/16

 

 

Ask Questions if You Want to Overcome the Word "No"

 

As children learn how to talk, one of their first and most common words they cling to is often the word “no.” As a sales professional, you may be reminded from customers or potential customers that this is a word people don’t seem to grow out of using. As you work to enhance your sales, learning to overcome the word “no” is an important key to success and it starts with understanding what is really meant when someone says it.

 

Let’s be clear—“no” sometimes does mean exactly that, and it is important to recognize those times. As a salesperson, you don’t want to come off as annoying, pushy, or unhelpful. However, many times the word holds a deeper level of meaning, which speaks to a consumer’s inability to articulate exactly what is keeping them from moving forward. According to the famous author/salesman, Zig Ziglar, each sale has five basic obstacles: no need, no money, no hurry, no desire, and no trust. Here are some ways to address each one.1

 

1.  No need: One common belief, according to LIMRA studies, is that people do believe they have a need for life insurance.2 If your prospect says they don’t fall into this category or belief they have enough, ask if you can do a needs analysis to help them assess their situation. If they don’t want to do a needs analysis, perhaps help educate them on the new features life insurance products have to offer.

 

2.  No money: Cost of coverage is a common misconception of life insurance with people generally believing it costs up to three times more than it actually does.1 If you’re hearing the cost objection, talk about the affordability of term with the option to convert to a permanent product later on.

 

3.  No hurry: Life insurance is a great example of something you shouldn’t put off. Do you know someone who passed away young and didn’t have enough protection or someone who had a health condition develop and perhaps weren’t able to get the life insurance they wanted? These are good stories to share to explain the importance of getting the right coverage today.  

 

4.  No desire: While this hurdle can pose some challenges, education is key. Quantify the need to the client by helping them see  how life insurance can leave their beneficiaries in a better position.

 

5.  No trust: Getting to know the customer How long you have been in the business, how many clients you have helped, etc. The key is to be sincere.

 

With all of these points, the most important thing to do is ask probing questions. Find out as much as you can to really tailor the sale to what fits their needs. If in the end you still don’t get the sale don’t take it personally. If you leave a good impression they may come back to you when they do need it.

 

 

1.  The views and opinions expressed are the authors views and opinions and do not reflect the views and opinions of Midland National® Life Insurance Company.

2.  Source: LIMRA 2015 Barometer Insurance Study

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23656 3/15

 

Set-Up Tips for Top Three Social Media Platforms

 
Although social media is a great way to share memories with family and friends, it’s also a great place to connect with your clients. It’s easy to set up social media accounts for your business and when you make just a few posts a week, you’ll see a big difference in your relationships with your clients.
 
It’s important to set up accounts on the three main social networking sites.
 
Facebook – The biggest social networking platform, Facebook, is ideal for sharing photos, videos, links and other good information. When you set up your profile, be sure to fill out all of the fields and use a current profile photo and an engaging cover photo. Make posts on Facebook at least once or twice a week to stay current and connected with your clients.
 
Twitter – For fast, relevant information, Twitter is a wonderful resource. However, since it is mostly a place for quick information, most people probably won’t visit your profile often, but that doesn’t mean you shouldn’t have an up-to-date profile with eye-catching graphics. Post a couple tweets each week during the day so your clients will see your posts and engage with you.
 
LinkedIn – Although many folks think LinkedIn is an online resume service, it actually offers much more to both your professional connections and your clients. Acting as a great took to showcase your experience, skills and talent, this social network is a great way to build credibility and trust. Completely fill out your LinkedIn profile, including the summary section, and be sure to include links to your website and your other social profiles so you’re easy to find.
 
Once you have your profiles, you now must make regular posts so your accounts don’t become stagnant. Make thought-provoking and informative posts that will engage your clients with photos, videos, links.
 
If you need ideas about what to post, follow our social media content plans found in the Midland National social media corner. Here, you’ll also find tip sheets, how-to flyers and videos to help you polish your social media presence.
 
Start posting on social media today to build trust and strengthen relationships with your clients.
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICIATION PURPOSES.
23556 2/16
 

 

Looking Forward in 2016

 

As we begin our 110th year in business, we’re excited about both the accomplishments we’ve had over the years and our aspirations for tomorrow.
 
Please take a moment to read a special message from Steve Palmitier, President and COO of Midland National.
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 
23495 1/16
 

 

Plan to Leave a Legacy Without Giving Up Access to Funds

 

“I want to leave a legacy for my family, but I’m concerned I may need the money before I pass away.”

 

When your clients consider what they’ll pass on as a legacy, they may be concerned about their potential need for those funds later in life. With life insurance, your clients can take comfort not only 

in death benefit protection and the ability to pass along funds in a tax efficient way1, but also an additional feature that may allow them to access the money in case of emergency.2 Here’s how to get the conversation started.

 

Step 1: Identify the right client

People who can most benefit from legacy building are those usually within retirement age who have dormant assets.

 

Step 2: Know the concept

Learn more about the barriers keeping your clients from maximizing their legacy and how life insurance can potentially help them sleep better at night.

 

Step 3: Find the Right Solution

One of these solutions might be right for your client:

 

 -  Legacy Guaranteed SIUL®

 -  XL-EC4 (Indexed Universal Life-Early Cash 4)

 

 

Need more help? Click here for your Interest Legacy Planning Toolkit.

 

 

1. Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

 

2. Subject to eligibility requirements. May not be available in all states.

 

Legacy Guaranteed Survivorship Indexed Universal Life (policy form series L139 and L139W with the Waiver of Surrender Charge Option) and XL-EC4 (form series L144 and L144W with Waiver of Surrender Charge) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23100-25  1/16

 

 

110 Reasons to Be Excited About Midland National

As you may have heard, this year marks our 110th year of doing business. In honor of this big milestone, we are sharing the top things that have us excited this year. While we could probably list 110 different things, for the sake of time and space we better just stick with 10.

 

10.  ExactAppSM: The recent launch of our electronic application feature is gaining a lot of traction with our agents, and 2016 looks to be even more exciting with the introduction of Indexed Universal Life insurance products to this handy platform.

 

9. ExactIllustrations: Thanks to this innovative online solution, running quotes has never been more efficient with Midland National than it is right now.

 

8.  Great momentum: In no small part because of our amazing agents, our dedicated distribution partners and support team, 2015 was a record year in sales for Midland National. While we don’t make it a habit of dwelling on the past, we certainly are excited about the phenomenal momentum our performance gave us heading into 2016.

 

7.  Midland National Mobile App: As more and more people are reaching for their smart phones to engage in business activities, this year we are anticipating a surge in use of our newly available mobile app. The app lets you manage your life insurance policies and annuity contracts from the convenience of your palm.

 

6. Products that compete: As competitive and economic factors continue to pose challenges to the life insurance market, we’re confident that we have the team and the products to help set the standard for the industry.

 

5. Innovative marketing: From our technology to our creative team, we’ve never been more equipped to deliver innovative and effective materials to help educate agents and connect with clients.

 

4. Organizational innovation: While we’re excited about specific software tools like ExactApp and Exact Illustrations, we are also continuing to invest in system wide updates that will help create more streamlined processes and efficiencies that will impact almost every aspect of doing business with Midland National.

 

3. Exceptional Underwriting: The efficiencies we’ve continued to introduce into our underwriting process haven’t gotten in the way of direct access to our underwriters or our commitment to be fair and consistent.

 

2. Strength and Stability: Steady growth, stability, and industry success have been a hallmark of Midland National throughout our 110 years. Starting another year with A+ ratings by Standard and Poor’s and A.M. Best just shows that our long-term strategy is one that holds up.

 

1. Our agents and distribution partners: We have enjoyed great success over our 110 years in business, and we know we couldn’t have done it without the committed folks we work with every day. While technology continues to move forward and create new opportunities, there is no greater power we have than the team that will carry us into the future.

 

 

A.M. Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating performance and ability to meet its obligations to policyholders. A+ is the second highest rating out of 15 categories and was affirmed for Midland National as part of Sammons Financial Group on June 3, 2015. For the latest rating, access www.ambest.com.

 

 Standard and Poor's awarded its “A+” (Strong) rating for insurer financial strength on February 26, 2009 and affirmed on July 2, 2015 to Midland National Life Insurance Company as part of Sammons Financial Group. The “A+” (Strong) rating, is the fifth highest out of 22 available ratings.

 

Regional Sales Directors and agents are independently contracted with Midland National Life Insurance Company.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

23549  2/16

 

Reaching Millennials Takes More Than Good Luck

 

 
While you may be sporting green attire this month in hopes of receiving a little extra good luck, it will take more than luck to successfully reach the coveted millennial consumer. Comprising almost one-third of the total U.S. population1, the millennial demographic (generally defined as persons born from 1980-2000) also happens to represent $200 billion in annual buying power2. That kind of purchase potential is something you can’t ignore. Here are a few need-to-know tips to help enhance your success when connecting with this influential demographic.
 
Millennials are diverse.
As one of the most cultural diverse generations1, a “one size fits all” approach to communication isn’t always the best way to relate to them. Traditional methods of advertising often fall flat with this generation for this reason. While social media isn’t the magic bullet answer to this dilemma, it can be a powerful ally in your efforts to connect with these consumers in a more relational and personal way. Whether using social media or not, trying to find ways to recognize the individuality of this generation can help you create stronger business opportunities with them.
 
Millennials were born to use technology.
Whether it’s finding new ways for your customers to do business with you or using technology to communicate, don’t ignore the necessity for you to “speak the language” when it comes to Millennial consumers. This generation grew up witnessing some astonishing technological advances (personal computing and mobile technology to name a few). Millennials have an expectation for a certain level of technology when it comes to conducting business. If you want to earn their business, invest in the necessary technology to keep you from letting them down.
 
Millennials want to make a difference.
Making a difference is important to this class of consumers. Whether talking about work, shopping, or extracurricular activities, Millennials consistently seek ways to play a larger role in the communities in which they live1. By sponsoring events, engaging in community activities and joining Millennials in the social awareness conversation, you will enhance your relationships with these socially minded individuals.
 
According to a recent LIMRA study, Millennials overestimate the cost of life insurance by 213%3. With that kind of disconnect, it might be fair to say that the insurance industry has a communication gap when it comes to effectively reaching this generation of buyers. With a better understanding of how Millennials view the world and an investment in things that matter to them, you can help bridge the gap in understanding and develop strong business relationships that can last a lifetime.
 
 
1. Council of Economic Advisers; October 2014: 15 Economic Facts about Millennials https://www.whitehouse.gov/sites/default/files/docs/millennials_report.pdf
 
2. Forbes; January 1, 2015: 10 New Findings About the Millennial Consumer http://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#5c38038328a8
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
23543 2/15
 

4 Tips to Building Better Client Relationships

 

by Brandon Deragish, Sales Development Specialist

 

The success of an agent often hinges on their relationship with the client. The business you write could be based more on the relationship and trust your client has in you than on the product you’re presenting. Here are a few tips to help build a better relationship with your clients.

 

Deliver the unexpected “Wow” moment: Have you gone above and beyond when it comes to being there for your clients? Giving them restaurant suggestions when he or she is planning a family vacation or getaway; sending care packages like a tax-relief kit, giving them a good bottle of wine, or showing you care by providing them emergency kits for their cars can all be ways to show them they are more than just another customer to you.

 

Hold a client appreciation event: Hold a family friendly event where your clients and their family could get out of the house and have a little fun. Make it a seasonal event and invite them out to carve pumpkins or have a get together at the park.

 

Send out cards: Simply remembering a client’s birthday or anniversary and sending a quick card or email can make a big impact. Not only does it show you care, but it always keeps you at the top of their mind, which could equate to more referrals.

 

Treat every client as a VIP: Your clients probably don’t think they are your most profitable client, but a couple things can happen if you make them feel like they are your most important client.

 

1. They are more likely to make a referral to you. The VIP treatment can go a long way.

2. They are more likely to do more business with you.

3. Most importantly, you will have created a satisfied client.

 

 

FOR AGENT USE ONLY. NOT FOR CONSUMER SOLICITATION PURPOSES.

23468 1/16

 

Five Leadership Qualities We Can Learn From Presidents

 

In February, we celebrate Presidents’ Day, a day to honor, celebrate and remember our patriotic leaders. As we can learn from our presidents, being a leader takes more than just showing up every day and finishing your work on time. A leader takes initiative, inspires others and goes above and beyond expectations.
 
Adopting some of these key presidential qualities can help make you a great leader in life and in business.
 
Respect. Most people want to surround themselves with people who are honest and care about their wellbeing. Treating others around you with respect not only encourages positivity, but it also encourages others to give you respect in return.
 
Great communication skills. Being able to clearly articulate your point of view while also understanding the views of others is extremely important in creating relationships, loyalty and trust, three vital parts of building a successful partnership.
 
Empowerment. When the waters get rough, be the person your team members look to for strength and bravery. Encouragement can help elevate the mood of those around you and inspire others to put forth the effort needed to push through.
 
Self-awareness. Great leaders recognize strengths and weaknesses of team members and put them in positions that allow them to flourish and grow. Great leaders also surround themselves with people who complement their own characteristics.
 
Accountability. Not only do great leaders take responsibility for problems and help craft solutions, they also give credit where credit is due. Exceptional leaders understand that keeping themselves and their team members accountable can help increase the effectiveness and the morale of the entire business.
 
When you picture a great leader, who comes to mind? What qualities do they possess that you want to emulate?
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
23555 2/16
 

Make Life Insurance Part of Your Clients' Retirement Plans

 

“I’m concerned about how taxes could impact my retirement savings plan in the future.”
 
While people don’t always think of life insurance as a potential piece of their retirement plan, they are often surprised to hear that a product primarily used for death benefit protection can also be a helpful way to supplement retirement income.
 
Step 1: Identify the right client
Who might be interested in a concept like this? Start with clients in need of death benefit protection and looking to enhance financial protection in retirement years.
 
Step 2: Know the concept
Take some time to learn about the features of life insurance that might make it a good choice for providing a way to augment your clients’ retirement funding.
 
Step 3: Find the Right Solution
Here is a recommendation for this concept that may be the right fit for your client.
          -  UL-CV4 (Universal Life-Cash Value 4)
 
 
Need more help? Click here for your Interest Rate Rescue Toolkit.
 
 
UL-CV4 (policy form series L136) is issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 
 
23100-24 1/16
 

3 Steps for Using Life Insurance to Rescue Clients from Low Interest Rates

 

 

“I like the security and accessibility of having money in the bank, but I’m tired of low interest rate returns.”

 

Many clients have money that is “stranded” in low-interest bearing accounts for which they don’t have an immediate use in mind. In addition to offering death benefit protection, Permanent life insurance can be an attractive alternative to the low-interest bearing account. Here’s how you can come to the rescue.

 

Step 1: Identify the right client

Are any of your clients in need of death benefit protection and also have money stranded in low-interest bearing accounts? They may be in need of a life raft.

 

Step 2: Know the concept

Learn about the benefits and considerations of this sales idea, and take advantage of the tools and case design tips available.

 

Step 3: Find the Right Solution

Here are a few solutions we’d like to float by you:

· XL-EC4 (Indexed Universal Life-Early Cash 4)

·  UL-CV (Universal Life-Cash Value)

 

Need more help? Click here for your Interest Rate Rescue Toolkit.

 

 

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

 

XL-EC4 (form series L144 and L144W with Waiver of Surrender Charge) and UL-CV (policy form series L136) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23100-23 1/16

 

 

Are Your Clients Demonstrating Their Love Through Life Insurance?

We show our love to the ones we care about in different ways—through our words, by the small things we do every day and sometimes we even illustrate our love through heart-shaped candy. As we celebrate the month of love, take the opportunity to visit with your clients and prospects about how they can show their love through proper life insurance planning.

 

How do you bring up the conversation with your clients and prospects? The Insure Your Love campaign, coordinated by Life Happens®, is available to you to help creatively communicate this important message. Enhance your outreach efforts through the month of February by visiting LifeHappens.org. There you will find tools, statistics and content to help you share the message.

 

 

Life Happens, is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families financial futures. Life Happens does not endorse any insurance product or agent.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

 

MN-23411 1/16

 

 

Celebrating 110 Years of Life

 

As we recount the years that have led us to 2016, we no doubt can remember many things we’ve celebrated along the way—new friends, lessons learned, important achievements. The month of January is sometimes referred to as Celebration of Life Month, and this year it also marks the start of Midland National’s 110th year of Midland National doing business. Like you, we have many reasons to celebrate. Here are a few we wanted to share.
 
New Technology
We may not have flying cars yet, but we have witnessed plenty of advancements in technology over the years that have made doing business faster, easier, and more effective. We’re recently enthusiastic about the rollout of our mobile app and eBusiness Solutions—both designed to streamline your business. While we’re excited about our existing suit of technology solutions, don’t look for us to slow down anytime soon when it comes to discovering new ways to speed up your business.
 
Strength and Stability
Throughout our history, Midland National has enjoyed steady growth, stability, and industry success, and at 110 years you could say we look pretty good for our age. With a continued tradition of receiving A+ marks from both A.M. Best and Standard & Poor's, and recognition to Sammons Enterprises, Inc.1 by Forbes as the 77th Largest Private Company, Midland National is proud of the ratings our independent partnering agents have helped us maintain throughout the decades.
 
Outstanding people
Midland National wouldn’t be the company it is without motivated distribution partners and a dedicated team of employees who support them. We couldn’t be more thankful for all of the individuals who have helped and continue to help push our company forward into the next century plus.
 
Yes, in our 110th year of business we have much to celebrate, but perhaps there’s nothing more worthy of celebration than the future of Midland National and our partners. Thank you to all who have been a part of our past and present successes. We can’t wait to see what new reasons we’ll have for celebration in 2016 and beyond!
 
 
1. Founded in 1962 by Charles Sammons. Sammons Enterprises, Inc. of Dallas, Texas - owns a variety of diversified businesses in addition to financial companies and is one of the nation's largest privately held companies. It is ranked No. 77 on Forbes’ 2015 List of America’s Largest Private Companies. The list includes 216 privately-held companies with revenues of more than $2 billion.
 
A.M. Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating performance and ability to meet its obligations to policyholders. A+ is the second highest rating out of 15 categories and was affirmed for Midland National as part of Sammons Financial Group on June 3, 2015. For the latest rating, access www.ambest.com.
 
Standard and Poor's awarded its “A+” (Strong) rating for insurer financial strength on February 26, 2009 and affirmed on July 2, 2015 to Midland National Life Insurance Company as part of Sammons Financial Group. The “A+” (Strong) rating, is the fifth highest out of 22 available ratings.
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 
 
23317 12/15
 

4 Keys to Meeting Your Sales Resolutions

 

 
Now that 2015 has drawn to a close and you’ve counted the year’s successes, it’s time to set your sights on 2016. While you consider your checklist of resolutions, here are a few pointers to help you hit your goals and even a few suggestions you may want to add to your list.
 
Talk to existing clients
There’s nothing wrong with developing new clients, but don’t forget the opportunity for new business through your existing client base. Start the New Year by helping your clients get a leg up on 2016 with a Policy Review. Here are a few tips to help you get the meeting on your calendar:
 
Make calls a priority. Block out time on your calendar so other tasks throughout the day don’t take precedence.
 
Try to call your clients’ business phone numbers if you can. Your contact rate of success could be the better for it.
 
Be creative and host a Client Appreciation Event.
 
Give your clients options when it comes to meeting times, and make it a practice to ask “when” they can meet rather than “if.”
 
Your referral pipeline
People will be willing to refer if they are simply asked. Remind your clients to share your information with their family and friends. It will also be helpful to offer your clients an incentive for referring. If you’re looking for other creative ways to build your referral business, give these a try:
 
Build centers of influence. Whether through social media or in person, cultivate a network where you provide valuable information to people and help identify solutions to their life needs.
 
Use social media to help find people experiencing a life event. Just remember, using social media to communicate without permission to do so is not good practice and will have a negative impact on your future ability to reach people socially.
Set manageable goals
 
Taking the time to write down what you want to achieve, such as the income you want to make, will help you stick to your schedule. Once you have defined your main goals, breaking down your sales goals into smaller, short-term tasks and milestones helps make them more achievable. This also makes it easier to define the activities you need to accomplish in a day, week or month. Don’t forget to add them to your calendar!
 
Set a schedule and stick to it
Scheduling your activities is key to managing your calendar. Take some time to calculate the number of hours you have available for completing your daily/weekly tasks. According to CSO Insights, salespeople currently spend 41% of their time selling (either by phone or face-to-face), 24% generating leads and prospects, 19% doing administrative tasks and the remaining time on other tasks like service calls or trainings. Are you spending more time on other duties when you should be selling? If you want to be effective and efficient with your time, be intentional about how you spend it. Find a good balance between selling and the other support activities that need to be done.
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
23374 1/15
 

Three Moves That Will Prepare You to Talk About Pension Maximization

 

“I know I’m leaving money on the table, but I can’t leave my spouse out in the cold.”

 

For clients in companies offering defined benefit pension plans, there is an important decision to make when it comes time to select the type of benefit they will receive. Pension maximization using life insurance is a way to help your clients gain death benefit protection while offering an opportunity to maximize pension benefits.

 

Here are three moves to get you started.

 

Step 1: Identify the right client

Do you have a client in a defined benefit pension plan, in need of life insurance and seeking help in maximizing their pension income?

 

Step 2: Know the concept

Familiarize yourself with the key advantages of this strategy and how your clients can start to maximize their pension benefits through life insurance.

 

Step 3: Find the Right Solution

 

Here are a few you might want to think about:

     -  Essential Guaranteed® Universal Life

     -  XL-DB3 (Indexed Universal Life-Death Benefit 3)

     -  Premier Term

 

 

Need more help? Click here for your Policy Review Toolkit.

 

 

Essential Guaranteed Universal Life (policy form series L138), XLDB3 (policy form series L143) and Accelerated Death Benefit

Endorsement for Critical, Chronic and Terminal Illness (form series TR169), and Premier Term CS7 (policy form series T142) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23100-22  12/15

 

5 Sales Practices That Are Sure to Leave Your Prospects Cold

 

Sales professionals have a noble job. After all, they connect us with the products and services that make our lives better. Even so, many common sales tactics have left consumers feeling cold. Here are five practices you’ll want to avoid if you want to keep your client opportunities warm.
 
Not asking questions
Engaging in real conversations might very well be the most important thing you do in sales. Just as in personal interactions, people want to talk to people who are genuinely interested in what they have to say. Speaking from scripts, diving into hour-long monologs about why your product is so great, talking more than listening—all these things convey the message that you’re more interested in selling a product than fulfilling a customer’s legitimate need. Ditch the pitch, and take the time to ask your customers and future customers the questions that will lead to real conversations and help you discover what they truly need.
 
Over explaining
You are the expert when it comes to your product, and that expertise will come in handy when educating consumers on how the product works or why they need it at all. However, there is a line that can be crossed when demonstrating that knowledge. By over explaining, we run the risk of confusing, boring, or talking down to our customers. People rarely feel inclined to buy in any of these circumstances.
 
Under explaining
On the flip side, people do want to feel comfortable with the product they are purchasing, and generally the more they know the more confident they’ll be in their purchase decision. Engaging in real conversations with your customers will help you determine the level of information appropriate to share. Also, if you aren’t well-versed in your product or adequately prepared to talk about it, the prospect will either think you’re not knowledgeable or are hiding something from them.
 
Selling the features
It comes in three speeds! It runs on solar power! It has seven index options! The value in the features of our product might be obvious to us, but a customer often times needs more convincing. They want to know how those features apply to them and how what we’re selling will improve their lives. How often do we find ourselves telling the customer what the product will do rather than what the product will do for them?
 
Not taking “No” for an answer
Call it persistence, call it tenacity—just make sure your customers aren’t calling it annoying. If you’re a student of sales, you know that “no” doesn’t always mean “no.” Sometimes it means “I need more information” or “I’m not fully convinced yet,” but sometimes it actually does mean “no.” That respect for your customer’s right to decline could help you earn the trust that will land you the sale down the road.
 
Something all of these sales habits have in common is a lack of focus on the customer. By shaking these practices, building positive relationships, and engaging in meaningful two-way conversations, we can put the focus back on the consumer and warm their hearts to the products and services we provide.
 
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
23189 12/15
 

4 Tips to Help Identify Your Clients' Needs

 

“I’ve had this policy for a long time, but I’m not sure if it’s still what I need.”

 

Life changes and so do your clients needs. Your client chose their current policy because it fit their needs at the time, but is their policy still meeting their current needs? Here’s how to hone in on the right solution for your client.

 

Step 1: Identify the right client

Clients from all walks of life can benefit from a policy review. Which of yours should you approach?

 

Step 2: Know the concept

From educating a client on why a review is important to knowing the right questions to ask, beef up on your concept readiness before approaching your clients.

 

Step 3: Review the policy

Now you’re ready to take your clients through a policy review to determine their needs.

 

Step 4: Find the Right Solution

Here are a few you should consider:

  Essential Guaranteed® Universal Life

  XL-DB3 (Indexed Universal Life-Death Benefit 3)

  XL-EC4 (Indexed Universal Life-Early Cash 4)

 

Bonus Feature: The unexpected can and does happen. Don’t forget to help your clients plan for the unknown by sharing how living benefits can help augment their needs.

 

Need more help? Click here for your Policy Review Toolkit.

 

 

Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under longterm care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California Form 20501 that includes this comparison. Essential Guaranteed Universal Life (policy form series L138), XLDB3 (policy form series L143) and Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness (form series TR169), Accelerated Death Benefit Chronic Illness, (form TR193, CA only) and XLEC4 (policy form series L144 and L144W with Waiver of Surrender Charge) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23100-21 12/15

 

 

A Thoughtful Gift for the Ones You Love

 

As your clients are busy hitting the retail stores this time of year in their quest for finding the perfect presents for their families and friends, it may be the right time to remind them about one of the most important gifts of all—the gift of future protection. Do your clients have enough life insurance coverage to be confident in the future they’re preparing for their loved ones?

 

While life insurance protection is an important and thoughtful gift, nearly a third of people in the U.S. say they don’t have enough.1 Do you have clients who would say the same thing about their coverage?  As people’s lives inevitably change, so do their coverage needs. Here are a few circumstances that may prompt a review for your clients:

 

Lifestyle change – Life changes, such as the birth of the child or grandchild, divorce or change of job may all impact life insurance coverage needs.
 

Interest crediting rates – Market volatility may have impacted interest rates on life insurance policies and may cause policies to perform outside of original expectations.
 

Underfunded policies – Policies that are underfunded may result in longer payment periods and higher than expected premiums.
 

Loans, withdrawals2 or other policy changes – All of these items may affect the policy’s overall performance.

 

In addition to helping make sure a client’s coverage is keeping pace with their changing needs, a policy review may also provide your client with some additional benefits such as: reduced premiums, more value with increased death benefits, comfort in avoiding the risk of a policy lapse, and greater confidence in their insurance carrier. Do you have clients who could benefit from a policy review? Get them scheduled today to make sure their families can enjoy the gift of sufficient protection tomorrow.

 

 

1.  LIMRA 2015 Facts About Life http://www.limra.com/uploadedFiles/limra.com/LIMRA_Root/Posts/PR/_Media/PDFs/2015-LIAM-Fact-Sheet.pdf
 

2.  In some situations loans and withdrawals may be subject to federal taxes.  Midland National does not give tax or legal advice.  Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation.  Income and growth on accumulated cash values is generally taxable only upon withdrawal. Adverse tax consequences may result if withdrawals exceed premiums paid into the policy.  Withdrawals or surrenders made during a Surrender Charge period will be subject to surrender charges and may reduce the ultimate death benefit and cash value.  Surrender charges vary by product, issue age, sex, underwriting class, and policy year

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23176 12/15

 

Reaching Your Clients During a Busy Month

 

by Brandon Deragish, Sales Development Specialist

 

 

We have reached the time of year where everyone has more to do than what they have time for. This can make the already difficult task of setting appointments (and making sure everyone shows up) even more difficult. Here a few tips to help you reach more of your clients during these busy months.

 

Time blocking. Block a specific time on the calendar to make calls, and stick to that schedule. Nothing is easier to push to the side than making calls, but without making those calls the rest of your calendar will look pretty bleak .

 

Use business phone numbers. If you’re able to get a client’s business number, use it! People will answer their business line at work.

 

Never ask if they can meet. If you ask if someone can meet, you’re giving them an easy out. Instead, ask when they can meet with you, and then give them a couple specific options to choose from. That way they will go from thinking about how busy they are these next few months to thinking about what their actual schedule looks like for the few specific options you have provided them.

 

Create a sense of urgency. Your client’s will be more likely to meet during these busy months if they think there is a good reason to do so. Create a sense of urgency by bringing up rates, health (will they add a couple pounds during the holiday season before doing their labs?), unprotected family, etc. 

 

Make it convenient for them. You will set (and more importantly keep) appointments if you select the location/time that is most convenient for your client. Offer to go to their house, meet over lunch and provide sandwiches, or meet in the evening.

 

Use ExactAppSM. Who doesn’t have time to check their email? If you’re unable to get a time set to complete an application, use our ExactApp. A completed application is submitted every time, and you’ll see a faster turnaround time.

 

 

FOR AGENT USE ONLY. NOT FOR CONSUMER SOLICITATION PURPOSES.

 

23282 12/15

 

4 Tips to Be Sure Your Business is Set for the New Year

 

Between planning for the holidays and tying up the year’s loose ends, this time can be a busy one. While you may have a lot on your plate right now, you’ll still want to get your 2016 off to a good start. Here are some tips to help your business ring in the New Year on the right note:
 
Fill the pipeline!
If you’ve got business to submit, be sure to send as much as you can into underwriting as soon as possible prior to the New Year.
 
Make Your Resolution
Do you have any resolutions for next year? If you only make one resolution for the New Year, be sure it is to revisit your prospective clients, which may have slipped off your radar.
 
Fill your Calendar
Make a list of clients to contact after the holidays to fill your first quarter calendar. That way you can put a majority of your focus on closing sales.
 
Get your January appointments set up.
Don’t wait to start scheduling your meetings. Use this step-by-step to get the process going:
 
1. Make a list of people that didn’t commit during the previous year.
2. When you speak with them, mention that you heard a great idea and thought of them.
3. Be sensitive about the time of year and be genuine. Keep the conversation light hearted.
4. Set the expectation to get together in January.
 
Review Term Cases
What conversion opportunities can be found in your existing business? Be sure to review your term cases to uncover new ways to help your clients and new avenues to beef up your book of business.
 
While the end of the year can be a hectic time, you will be thankful you put in the extra work to get your business ready for the New Year.
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
23271 12/15
 

 

Four Reasons to Clean Up Your Pending Business Now

 

As holiday shopping and winter weather consistently remind us, the end of the year is quickly approaching. Are you pushing to get pending business cleaned up and paid for all your hard work before the end of the year? Here are a few reasons to get moving on your pending business to end 2015 strong:

 

1.  People are only getting busier for the holidays—the sooner you can get your policies in force, the better. It’s only going to become more difficult to get a hold of clients the further into December we get.

 

2.  Feel good about ringing in the New Year with a clean pipeline and clean desk.

 

3.  If you're looking for some extra cash during the holiday season, you're quickly running out of commission cycles before the end of the year.

 

4.  Provide value to your clients by making sure they have their needs taken care of before the end of the year.

 

Are there outstanding items in your pending business that can be cleaned out today? It’s not too late!

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23277 12/15

 

Three Tips to Help You Submit Business More Efficiently!

 

eBusiness Solutions is available to help you submit business efficiently from start to finish. Check out three quick tips from some of our internal eBusiness Solutions experts!

 

Tip #1 – Getting started with eBusiness Solutions.

Tip #2 – Use eBusiness Solutions from almost anywhere!

Tip #3 – Help speed up Underwriting turnaround time.

 

Be on the lookout for more helpful tips from Midland National!

 

Have Questions?

Contact Sales Support at 800-843-3316, ext. 32150 or salessupport@life.midlandnational.com

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

22884-12BLOG  11-15

 

New Mortality Tables Mean Changes for the Annuity Industry

 

Recently, we heard from annuity leaders, Bryce Biklen and Rhonda Elming, about the impact of Iowa’s adoption of new mortality tables. Check out this web replay to discover what product changes to expect and how your business can thrive through change!

 

 

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23150 11/15

 

5 Characteristics of Veterans That Can Help Your Business

 

On November 11 we recognize our veterans for their service and sacrifice to this great country. While our service men and women have given us much in their devotion to America, they also provide a shining example of what it takes to be successful in different aspects of our own lives. Here are five things characteristic of veterans that might help you in your business.

 

Strong Leadership

A key attribute of members of our military is their ability to influence and guide people in a positive direction towards a goal or mission. Our veterans understand the importance of exceptional leadership. Without proper direction, planning, and guidance our armored forces would not be successful in their missions. Similarly in business, a good leader is able to define, articulate, and execute the strategies and tactics necessary to drive their business mission forward.

 

Cooperation

Every leader needs a team to lead. Our veterans are no strangers to teamwork. Through teamwork, they provide protection for one another and work together to achieve common goals. By effectively partnering with others, you can more easily overcome obstacles and ultimately be more competitive in your business endeavors. If you want to maximize your success, learn how to leverage a team to help you hit your targets.

 

Fortitude

Showing resilience to push ahead in the face of adversity has value in all aspects of life. As you know, you’re going to face challenges with your business at some point or another. Some of those challenges you may you may be able to predict and others may be unanticipated. Make sure you adequately plan and prepare for the inevitable and possible threats to your business so you’ll have the fortitude to meet them head on when the circumstances call for it.  

 

Discipline

Whether talking about the devotion to their routine training or commitment to neatly make their bed every day, discipline is a necessity for a soldier. Veterans know that discipline helps prepare and encourage you to continually accomplish tasks—both big and small. It doesn’t always come easy though.  Whether you want to be more efficient with time management, more consistent with communicating to sales contacts, or more organized in the office it takes training and hard work to develop and maintain the discipline needed to regularly achieve your business goals.

 

Adaptability

Living outside their comfort zones is something Veterans know how to do well. Soldiers often find themselves in unfamiliar situations to which they have to quickly adapt. What allows them to do so is their mastering of the other skills needed to succeed—leadership, teamwork, resilience, and discipline. The more prepared for the unknown they are, the more confident they are in their ability to navigate successfully through it. What opportunities and challenges might you need to adapt to your changing industry? Be sure you’re taking the steps today to strengthen your ability to meet the needs of your business tomorrow.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23073 11/15

 

Fourth Quarter Push

 

The end-of-the-year push is a double-edged sword every agent knows all too well. Your clients want their policies issued so they can be protected should the unthinkable happen, and you want to get paid for your hard work. How do you handle both sides?

 

Luckily there is an answer! Join John and Michael breakdown the keys four success in the fourth quarter. 

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

 

22752-6  10/15

 

Be Thankful for These Social Media Tidbits

 

While you take inventory of all the things we’re thankful for this month, is a successful social media strategy at the top of your list? If it’s not, here are some areas of improvement you might want to consider.

 

Don’t let your page spoil. When Thanksgiving leftovers aren’t eaten they tend to go bad. Similarly, when a social media account is neglected, it can go stale. Be sure you’re being consistent in posting frequent content to your accounts. Otherwise, you’ll become irrelevant to your followers in a hurry. Finding the time and resources to keep up on posting and monitoring social media can be difficult. Like other parts of your business, be sure you take the time to develop a strategy to be successful.

 

Be seen so you can be heard. People are more likely to engage with your content if it is visual in nature. Season your messages with media like videos and photos if you want your followers to listen to and engage with your content.

 

The ABC’s of being social. The old traditions in sales and advertising have gone the way of those hats pilgrims used to wear. When it comes to social media, you have to stop selling and Always Be Conversational.

 

Educate yourself. In our efforts to use effectively communicate with our customers, we sometimes forget to take advantage of social media as a powerful tool to glean useful client information, competitive business intelligence, and valuable industry insights.

 

Meet your clients where they spend time. When you consider all of the social media sites available, it may be about as overwhelming as thinking about all the in-laws coming to your home for the holidays this season. The up-side is that you do not have to be on all of those sites since your clients likely are only using a select few themselves. Be sure to learn about where your customers are spending their time, and invest in being there.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

22977 11/15

 

Don't Make These 2 Common Retirement Planning Mistakes

 

 

While many people plan for life-after-work, many don’t accurately figure the total expenses that they’ll need to sustain their lifestyle through their retirement. In honor of National Save for Retirement Week, here are two major retirement planning mistakes you can help your clients avoid.

 

Planning to work in retirement
Working during retirement is a great way to keep physically and financially fit during your golden years. Some people choose to continue on in a career, while others choose to work part time for a paycheck once they retire. However, while most people plan to work in some fashion during retirement, only one in four are actually capable of doing so once retirement hits.Factors that may preclude your client from earning a paycheck can include health problems, economic conditions, family responsibilities, or inability to find suitable work. If working during retirement is part of your client’s retirement income strategy, help them understand the risks that may keep them from being able to rely on a regular paycheck in their retirement. Then talk them through the ways to mitigate that risk with the right financial planning.

 

Counting on not living that long
Just because you have saved for retirement doesn’t mean you’ve saved enough. As modern medicine improves and the average age of life expectancy is on the rise, many people are finding they haven’t adequately planned to fund those extra years. Non-retirees often underestimate their risks of outliving their retirement funds. In fact, only 1 in 4 non-retirees feel confident that they are saving enough for retirement.1 If your clients have put some extra money aside for those later years, have they planned beyond their average life expectancy? As you assist your clients in choosing the financial vehicles necessary to get them to their desired retirement lifestyle, help them think through the financial risks of living longer than they might have ever thought possible.

 

There are a lot of factors that may cause people to neglect providing the necessary savings for their retirement. However, by talking your clients through some of the more common mistakes people make when considering their future, you can help them plan through the risks of outliving their retirement savings.

 

 

1. Life Insurance and Market Research Association (LIMRA), 2014 U.S. Retirement Confidence and Security study. https://www.limra.com/Research/Abstracts/2014/140605-01.aspx?research_id=10737430371

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

MN-22894

 

 

Are Your Clients Driving Towards a Successful Retirement?

 

 

Did you know that 29% of people ages 55 and older have no retirement plan in place as reported by the Indexed Annuity Leadership Council? As National Save for Retirement Week approaches on October 18-24, join us to show your support for your clients taking the steps towards smart retirement planning.

 

Most people wouldn’t buy the first car they saw on the lot when purchasing a new family vehicle. Unfortunately, the same doesn’t always hold true for choosing their modes of retirement. People often find themselves driving towards their futures ill-equipped to get them where they’d like to end up in the future. Sure we encourage folks to start planning now and to take full advantage of their employer benefit programs, but this isn’t enough. How are we helping them to understand the impact of their retirement planning decisions?  The key is to plan ahead and understand the variety of choices available today – including Fixed Index Annuities and Life Insurance.

 

A Guaranteed Income Stream

One attractive financial vehicle often overlooked by consumers for retirement is the Fixed Index Annuity (FIA). Like the variety of cars at your local dealership, FIAs offer a diverse range of benefits as well. FIAs could be a powerful addition to a retirement plan for three reasons:  (1) tax-deferred growth, (2) a guaranteed minimum rate of return regardless of market performance, and (3) guaranteed lifetime income potential. FIAs can be a great way for your clients to balance risk and growth, and provide that guaranteed income stream for life they are looking for.  For many clients, this peace of mind may be an attractive solution for the unpredictable road ahead.

 

Death Benefit Protection’s Passenger

People don’t always envision life insurance as a piece of their retirement plan. With good reason, people tend to only view life insurance as a way to provide for loved ones after they’re gone. Many people simply aren’t educated in the different features and options behind life insurance. While it is true the primary purpose of life insurance is to provide a death benefit to beneficiaries, people are often surprised to find that it can also help with financial needs during retirement years due to its cash value growth potential, which could be used for a generally tax-free income stream.1 It’s also important to talk to your clients about the potential accelerated death benefits many policies include that may help your clients get through the more difficult retirement years.

 

When it comes to planning for retirement, consumers have many options. As we prepare for National Save for Retirement Week, help your clients learn more about some of the perhaps lesser known financial options available—they just may get more mileage out of their retirement years because of it.

 

 

1. The tax-deferred feature of the indexed universal life policy is not necessary for a tax-qualified plan. In such instances, your client should consider whether other features, such as the death benefit and optional riders make the policy appropriate for your client’s needs. Before purchasing a policy, our client should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

23024  10/15

 

ExactIllustrations is Here!

 

ExactIllustrations, the second feature within our new eBusiness Solutions platform, is now available for Executive Term, Premier Term and Essential Guaranteed® Universal Life cases!

 

 

Check out the new feature in the video below! 

 

 

Don’t forget to use eIllustrations to run your next Premier Term, Executive Term, or Essential Guaranteed® UL Quote!

 

Have Questions?

Contact Sales Support at 800-843-3316 ext. 32150 or salessupport@life.midlandnational.com

 

 

Executive Term (policy form series T082E1), Premier Term CS7 (policy form series T142) and Essential Guaranteed UL (policy form series L138) are issued by Midland National, Administrative Office, Sioux Falls, SD 57193. Products, features, riders, endorsements, or issues ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES. 

 

22884-19  10-15

 

Seven Ways to Listen to Your Customers

 

People love to share information about themselves with others. All you need to do is visit any social media site out there to discover that reality. As experts on the topic of “me,” we enjoy telling other people about our likes, dislikes, hopes, and dreams. However, as customer service professionals we still often wonder what the secret is to increasing sales and enhancing relationships with customers. Given that our customers are sharing information more frequently and faster than ever before, the real question is “how good are we at listening?”
 
During the first week of October, we celebrate National Customer Service Week. In honor of the seven days devoted to reflecting on our customer service skills, here are seven ways to become a better listener to your customers.
 
1. Focus. “What are we having for dinner?” “Do I need to pick the kids up after school?” “Will my customer be receptive to this product?” These are just a few examples of some of the things that might be in our minds while we’re speaking with a client. Unfortunately, while you’re thinking about those things, you likely missed some important details about what you can do to make your customer happy.
 
2. Become an active listener. Something that may help you focus your conversations is a practice called active listening, which involves summarizing or restating what you’ve heard when speaking with another person. This listening technique can not only give you the ability to better understand your customers’ needs, but it will also demonstrate to them that you are sincerely interested in what they are telling you. Try using responses in your client conversations that start with “It sounds like you’re saying…” or “Is this what you mean by…”
 
3. Ask probing questions. Ask your customer open-ended questions that will encourage them to share more about their needs and help you learn about how you can better serve them. Try to avoid “yes” or “no” questions.
 
4. Research. Asking good questions sometimes takes a little homework. Be sure to put in the time you need to learn about the types of questions most valuable for your next conversation.
 
5. Take notes. Write down the important things. There’s nothing more frustrating than uncovering a great piece of information about your customer only to forget it later.
 
6. Don’t just listen with your ears. As mentioned earlier, people are sharing things about themselves all the time, but they may not be speaking with their mouths. Social media has become an outlet of choice for many consumers to open up about what’s going on in their lives. Learn about which social media platforms are appropriate for your customers and your business and make sure you have a presence.
 
7. Practice. Great listening doesn’t always come easy. Like other disciplines, it takes time and practice to become a pro.
 
While there are many useful customer service tactics out there, discovering the secret to great customer service might be as easy as hearing what your customers are saying.
 
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
22848 10/15
 

Actions Speak Louder Than Words

Action!

 

We’ve all heard the adage, “Actions Speak Louder Than Words”. It seems simple enough. Yet, we’ve all had experiences when this doesn’t occur. Someone says they’ll call, but they don’t. The vendor says it will take two weeks, but it really takes three. Disappointment and frustration are common emotions during these situations but more importantly, they cause the other person or business to lose credibility. You may question their integrity. You won’t trust what they say the next time. You may even discontinue associating with them. If they can’t keep a small promise, how can you count on them to keep a big one?   

 

As we focus on Custom Services Week, we offer these four simple tips for helping you make sure that your actions match your words.  

 

1. Only Make Commitments You Can Fulfill – Before agreeing to an action, make sure it fits into your schedule. When a lot is unknown about a situation, schedule extra time for the unexpected. And, make it known that unknown variables could impact your promise.

 

2. Add New Commitments to Your Schedule Immediately ‐ When you make a commitment, decide how you’ll find time for it. If that action is likely to lead to other tasks, build time in your schedule for those as well so that you’ll not only meet your initial commitment but will be able to follow through on the rest of the process.

 

3. Track Your Commitments ‐ Keep a list of commitments someplace where you can review them regularly. For every commitment, note what you’ve committed to, when you made the commitment and when it’s due.

 

4. Confront Missed Commitments Early ‐ We’re all human so there may be times when that even the best system doesn’t work. When you realize that you won’t be able to deliver on time, face it. Contact the person you made the commitment to and explain the situation. Will they be upset? Perhaps ‐ but they’ll have a much higher opinion of you if you confront the situation than if you ignore it.

 

Hopefully you’ll find these tips helpful in ensuring that your actions match your words.  

 

 

FOR AGENT USE ONLY. NOT FOR CONSUMER SOLICITATION PURPOSES.

 

19543‐69 10/15

 

NEW Two-Year Crediting Method and Volatility Control Index Available September 1st!

 

Multi-year crediting methods have become a popular alternative for clients seeking the potential for stronger upside growth. Midland National Life Insurance Company® is enhancing the MNL RetireVantage® and MNL IncomeVantageSM fixed index annuities with the addition of a new innovative two year crediting method and volatility control index, the S&P 500® Low Volatility Daily Risk Control 8% Index.
 
“Midland National now offers you upside potential with volatility control! This new enhancement gives our producers yet another innovative option when working with clients seeking growth potential without downside market risk,“ comments Ann Hughes, Chief Distribution Officer.
 
Volatility control indices strive to create stable returns over time by managing volatility (risk control). These indices attempt to manage volatility to a stated level by allocating a portion of the portfolio to cash in certain market environments. When market volatility increases, the indices allocate more funds to cash. When volatility decreases, the indices allocate more funds to stocks. In either case, a portion of the indices may be allocated to cash to bring the expected volatility of the index within the risk control.
 
Disclosure:
Fixed Index Annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. They may not be appropriate for all clients.
 
These products are issued by Midland National® Life Insurance Company, West Des Moines, IA. Product features and riders may not be available in all states or appropriate for all clients. See product brochures for further details and limitations.
 
The MNL RetireVantage® is issued on form AC/AS124A (certificate/contract), AR153A, AR156A, AR159A, AR163A-1, AR192A, AR194A (in California AR151A04), AR201A, AR227A, AR244A, AR245A, AR246A, AR247A, AR248A, AR278A and AR277A (riders/endorsements) or appropriate state variation.
 
The MNL IncomeVantageSM is issued on form AC/AS139A (certificate/contract), AR153A, AR156A, AR163A-1, AR192A, AR194A (in California AR151A04), AR277A, AR278A, AR227A, and AR245A (riders/endorsements) or appropriate state variation.
 
The "S&P 500®", "S&P 500® Low Volatility Daily Risk Control 5% Index", "S&P 500® Low Volatility Daily Risk Control 8% Index", "S&P MidCap 400®", and "DJIA®", Indices ("Indices") are products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and have been licensed for use by Midland National® Life Insurance Company ("the Company"). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the Company. {Product Name} is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Indices.
 
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
 
22564Y
 

There's Still Time!

 

 

The clock keeps ticking and Life Insurance Awareness Month is just around the corner! Haven’t had time to prepare? Well, there’s no need to worry. A wide variety of September’s Life Insurance Awareness Month (LIAM) materials are at your disposal!

 

The nonprofit organization Life Happens, which coordinates this national campaign, has created a wide range of LIAM marketing resources that will allow you to run a complete campaign in September with minimal effort!

 

Access the materials at www.lifehappens.org/liam. You’ll be asked to create an account, if you haven’t already. Once signed up, you’ll have access to:

 

-  Messaging from LIAM celebrity spokesperson Anthony Anderson1 on his personal life insurance story (see it also at www.lifehappens.org/anthony) and the importance and affordability of life insurance, available through a video, flyers and social-media graphics

 

-  New videos, including two “Fast Fact” videos that help break down the basics of life insurance and a series of five videos focused on the “True Cost” of life insurance to help educate the public

 

-  Three new Real Life Stories, in the form of videos and flyers, that show how everyday people benefited from life insurance at their time of greatest need

 

-  A wide range of social-media posts and graphics, which are organized by both subject matter and in a calendar format, so you can leverage a Tweet for each day of LIAM.

 

There’s still time for your campaign -- just pick and choose what works for you!

 

 

Life Happens, is a nonprofit organization dedicated to helping consumers take personal responsibility through ownership of life insurance and related products.   Anthony Anderson is a paid spokesperson retained by the nonprofit organization Life Happens.  He does not endorse Midland National Life Insurance Company or its products or services.

 

FOR AGENT USE ONLY. NOT FOR CONSUMER SOLICITATION PURPOSES.

 

19543-68  8/15

 

What's Your Plan?

 

As a financial representative, your clients count on you to help them plan for the unexpected. Now it’s time for you to plan --  for Life Insurance Awareness Month this September.

 

This national education campaign, which is coordinated by the nonprofit organization Life Happens, is designed to get consumers to take stock of their life insurance needs and protect their loved ones with proper insurance planning. With more than 100 million adult Americans who have no life insurance, the need has never been greater.

 

This year, Anthony Anderson, executive producer and star of the hit TV show black-ish, and host of Eating America, is taking on the role of the 2015 national spokesperson for Life Insurance Awareness Month. Here is the great public service announcement he does about the importance of life insurance, which will be aired nationally during LIAM and can be shared: www.lifehappens.org/anthony.

 

Plus, he understands how tough, but rewarding, this business is for you: Watch his very personal message to the industry here: www.lifehappens.org/spokesperson.

 

This year, Midland National will be participating in LIAM and will be posting client friendly content regularly on our social media channels, so be sure to follow us on Twitter, and LinkedIn!

 

In addition, because Midland National supports Life Happens and its mission to educate consumers, you can access a wide range of additional LIAM marketing materials, which are available through its industry website at www.lifehappens.org/liam. Once there, you’ll need to create an account, if you haven’t already, which will give you access to a range of resources that will help you make this the best LIAM yet.

 

 

Life Happens, is a nonprofit organization dedicated to helping consumers take personal responsibility through ownership of life insurance and related products. Anthony Anderson is a paid spokesperson retained by the nonprofit organization Life Happens. He does not endorse Midland National Life Insurance or its products or services.

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

 

19543-67 8/15

 

Have You Started Your End of Summer Push?

 

 

Now that the summer heat is fading and parents are pushing to get things done in preparation of the new school year, have you considered your own end of summer push to get your pending business paid? While it might be a little early to roll the snow blower out of storage, it’s not too early to start thinking about year-end business planning. As people put away their summer mindset and start preparing for new beginnings, the last days of the season can serve as a good reminder to reach out to your clients and start settling your business books in anticipation of the end of the year.

 

If you want to finish the year strong, taking a proactive approach to your business this season could give you the boost you need as the final months of 2015 come our way!

 

Visit the Pending Business Report and check the status of your pending cases. What outstanding items can you clear out today?

 

 

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES

 

22528  8/15

 

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