NAIC panel eyes standardized long-term-care insurance rate increases | Commentary: Next bear market could be hard on baby boomers | Tips for pivoting discussion to disability insurance
March 18, 2019
NAIFA SmartBrief
News covering the insurance and financial advising industry
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NAIC panel eyes standardized long-term-care insurance rate increases
The National Association of Insurance Commissioners is forming an executive-level committee to standardize rate increases across states for long-term-care insurance, President Eric Cioppa says. Regulators in some states have been reluctant to approve large increases, even when insurers show actuarial justification.
ThinkAdvisor (free registration) (3/15) 
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Artificial Intelligence
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Industry News
Commentary: Next bear market could be hard on baby boomers
The next bear market that is followed by a recession is likely to be more painful than the last one, especially for baby boomers, John Mauldin writes. He recommends baby boomers save more and use investment and trading strategies that can mitigate losses in a bear market.
Forbes (3/14) 
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Tips for pivoting discussion to disability insurance
A good way to sell disability insurance is to pivot to the product during discussion of a familiar product, such as life insurance, writes Jill Frohardt of The Standard. Frohardt outlines how to position the need and offers tips for starting the conversation.
InsuranceNewsNet Magazine online (3/14) 
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Industry experts: Rush to lump-sum distributions unlikely
Recent guidance making it clear that pension plans are allowed to offer lump-sum distributions is welcome but not likely to trigger a rush to offer the distributions, industry experts say. In some cases, the offers are to the plan's disadvantage because people who are in poor health take the distributions and people who are in excellent health keep their annuities, Mercer's Matt McDaniel said.
Pensions & Investments (free access for SmartBrief readers) (3/18) 
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3 promising alternatives to the 401(k)
The 401(k) solution isn't doing enough to provide secure retirements, and employers are often concerned about the costs of offering these plans. John Scott looks at three promising alternatives: state-level programs, cost-sharing group plans for employers and new savings entities for contingent or independent workers.
MarketWatch (3/15) 
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Mobile Device Usage is a Threat to Data Security
74% of global IT leaders reported a data breach due to a mobile security issue. Discover how cybersecurity is shifting to meet the needs of a mobile world, and why it's critical to not fall behind. Learn how to protect your organization from mobile threats in The Convergence of InfoSec & Mobile.
Investment Trends
Moody's tips passive investing to top active by 2021
A report from Moody's Investors Service predicts passive funds will attract more investment than active equivalents by 2021, citing improvement in technology. Annual outflow from actively managed funds reached a record high in 2018, according to data from the Investment Company Institute.
Bloomberg (tiered subscription model) (3/14) 
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Policy Watch
SEC works on update for advertising rule
The Securities and Exchange Commission's advertising rule is out of touch with the way the world works, so the SEC will soon issue amendments, says Dalia Blass, director of the Division of Investment Management. The rule hasn't been rewritten since the 1960s, although the SEC has published guidance since.
InvestmentNews (tiered subscription model) (3/15) 
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Hot Topics
Building Your Business
Help clients avoid tax mistakes on nondeductible IRA contributions
Tax mistakes regarding nondeductible IRA contributions are common, and advisors should help clients avoid them, Tim Steffen of Baird writes. He notes that clients frequently ignore reporting nondeductible IRA contributions on Form 8606 "because they assume the 1099-R in the year of the withdrawal will show that the withdrawal is tax-free."
InvestmentNews (tiered subscription model) (3/14) 
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10 ways to respond to prospects who say they already have an advisor
A person saying, "I already work with an advisor," doesn't have to be a conversation ender, writes Bryce Sanders of Perceptive Business Solutions. He offers 10 ways to reply that could set the advisor up to gain the prospect's business in the future.
ThinkAdvisor (free registration) (3/13) 
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5 tips to help advisors leave better voicemails
Voicemails are a chance for advisors to "showcase professionalism," suggest Stephen Boswell and Kevin Nichols of The Oechsli Institute. They offer five tips for effective voicemails, including leaving enough intrigue that a prospect is compelled to return the call.
WealthManagement (3/14) 
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Don't miss NAIFA's annual Congressional Conference
Join us for NAIFA's annual Congressional Conference! The event establishes and cultivates relationships with lawmakers to share the expertise of NAIFA members from all 50 states. It also aims to educate lawmakers on the value NAIFA members bring to their clients and the solutions they provide for 90 million American families. Get more information on NAIFA's Congressional Conference and register here.
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The problem with gender is that it prescribes how we should be rather than recognizing how we are. Imagine how much happier we would be, how much freer to be our true individual selves, if we didn't have the weight of gender expectations.
Chimamanda Ngozi Adichie,

March is Women's History Month

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