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The Importance of Legacy Planning for Women

The Importance of Legacy Planning for Women

You know I believe legacy planning is important for every adult who has any assets (and I don’t mean only money). You probably have personal property. You probably have memories of how life was when you were a child or life situations that should be shared. You could get ill or incapacitated and will need someone to make decisions for you. And, yes, no matter what – you will die. These reasons apply to just about everyone – male or female. But there are actually some specific reasons women should be part of planning decisions or, if they are single, should have their own plans:
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Customer-Centric Is a Mindset

Customer-Centric Is a Mindset

Giving customers online and mobile access does not automatically make a company customer-centric. Those are distribution channels. And they seem to be the migration that many life insurance companies have taken. Moving from captive distribution to independent distribution to the newest strategy of direct to consumer is still distribution-focused.
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Transforming the Life Insurance Experience

Transforming the Life Insurance Experience

Innovation and advances in digital technology are happening all around us. And while much of the innovation in the life insurance industry thus far has taken place on the back-end, i.e., improved processing and information gathering, the front end of life insurance still looks very much the same as it always has. Unfortunately, the consumer market has dramatically changed. We are now looking at Millennials being the largest population group, finally surpassing Baby Boomers in 2016 according to a Pew Research Center Study. Why is this critical for the life insurance industry?
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The Changing Dynamics in Life Insurance

The Changing Dynamics in Life Insurance

Life insurance is still an extremely valuable and viable safety net for protecting a financial future. But consumers and the marketplace have changed. And the surest way to kill life insurance is to stick to the status quo. As the leading edge of the millennial population group ages, they are getting married, buying homes and having children – the typical top triggers for life insurance shopping. As a result, there has been an increase in life insurance sales in this market segment – up 48% since 2010 according to LIMRA’s 2016 Household Trends in Life Insurance Ownership Study.
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Five Mistakes Made by the Ultra-Wealthy to Avoid

Five Mistakes Made by the Ultra-Wealthy to Avoid

We generally assume that someone who has a lot of money must be really smart about money. Maybe. But according to “Rich Habits” author Tom Corley, who spent five years studying the habits of rich people, they don’t always know better. Here are five of the mistakes he and other wealth managers found that rich people make. Some may sound familiar to you. Some may be surprising.
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