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November 7, 2012
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News covering the insurance and financial advising industry

  Top Story 
Get Creative: 10 Ways to Think Outside the Box
No matter your business, smart solutions come from out-of-the-box thinking. We all know creativity is king, but are you doing all you can to inspire and encourage creativity in your staff? Read the article and learn 10 ways to inspire creativity at your office.

  Industry News 
 
  • Know the right time, right variable product for your client
    Determine when or whether a client needs a variable life insurance or annuity product and which one is appropriate before making any offers, Charles Osmond writes. Carefully question the client, examine the investment profile and explain the product to the client. Purchasers of variable products should be able to understand the risks, fees, limitations and guarantees of the product. It also is important to know the client's objectives in order to match them with a variable product that fits their needs, Osmond writes. National Underwriter Life & Health (11/2) LinkedInFacebookTwitterEmail this Story
  • Advisers work to overcome hurdles in succession planning
    Transferring a financial-advisory practice ahead of retirement poses challenges such as finding a willing successor and preparing clients for the transition, experts say. Some advisers select family members to take over their practice, and others are guided by firms that offer succession planning for their agents. Financial Advisor online (11/6) LinkedInFacebookTwitterEmail this Story
  • Retirement prospects darken for younger workers
    Public and private employers increasingly are reducing pension benefits, a trend that is hitting young workers harder than their older colleagues. The situation leaves the next generation's retirees with a bleak future, Michael Fletcher writes. Many companies are making severe cuts for new hires to preserve benefits for existing employees. The Washington Post (11/5) LinkedInFacebookTwitterEmail this Story
  • More Medicare Advantage plans are adding HMOs
    Cuts in Medicare reimbursements are prompting more carriers to add health maintenance organizations to their Medicare Advantage plan coverage. "Introducing new plans and increasing out-of-pocket costs are ways that Medicare Advantage plans ... can keep premiums affordable and also compensate for cuts in Medicare funding," says Diane Omdahl of Sixty-Five, a website that offers information on Medicare. Seniors enrolling in HMO plans should ensure that the services they require are covered, Omdahl said. American City Business Journals/Milwaukee (11/6) LinkedInFacebookTwitterEmail this Story
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Policy Watch 
  • Analysis: Obama's win solidifies the Affordable Care Act
    President Barack Obama's re-election has secured the survival of the Affordable Care Act, but challenges to the law remain, experts say. The Republican-controlled House of Representatives is expected to try to roll back the planned expansion of Medicaid benefits to more low-income adults, and Republican governors in some states have pledged not to implement the act's state health insurance exchanges. However, "there's sort of an immediate acceptance that this law will stay in place in some meaningful way," said Chris Jennings, who was an adviser to President Bill Clinton. Reuters (11/7), The Hill/Healthwatch blog (11/6) LinkedInFacebookTwitterEmail this Story
  • N.Y. sets 30-day moratorium on policy cancellations
    The New York Department of Financial Services has barred the termination, cancellation or nonrenewal of insurance policies for at least 30 days in about 10 counties affected by Hurricane Sandy and its remnants. Ben Lawsky, superintendent of financial services, instructed health insurers to permit members to seek urgent care and to allow prescription refills from nonparticipating providers. Carriers also have been told to provide constant call-in access and service information until the state of emergency has passed. National Underwriter Life & Health (11/6) LinkedInFacebookTwitterEmail this Story
  • Other News
  Building Your Business 
  • Study: Prospecting drives financial advisers' sales
    Diligent prospecting for clients is much more important to sales by financial advisers than being a natural salesperson, according to a study by Behavioral Sciences Research Press. The researcher found that the best prospectors also have the greatest sales productivity. AdvisorOne (11/5) LinkedInFacebookTwitterEmail this Story
  NAIFA News 
  • Maximize your productivity with the Career Activity Management System
    The Career Activity Management System -- NAIFA Edition is a powerful Web-based sales activity and production data analysis tool with customization and coaching support features. It is designed to help individual producers track and boost their sales performance and manage their client cases in a comprehensive yet readily accessible manner, and is offered to NAIFA members at a preferred price. Learn more. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
[T]he night pleases us because it suppresses idle details, just as our memory does."
--Jorge Luis Borges,
Argentine writer


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