NAIFA-Great Southwest

Transcription

1 Great Southwest Times August 2007 Great Southwest Board of Directors Misti Reed LUTCF President Ken Morton LUTCF President-Elect Jeff Brown CSA Secretary/Treasurer Sarah Merrill LUTCF Nat l. Commiteeman Dennis W. Smith LUTCF Imm. Past President Scott Kissinger Director / Membership Terry Weaks LUTCF Director / Programs Tom McElroy LUTCF CSA CLF Director /AHIA Jeremy Normand Director / Political Action Chris Beckham, LUTCF Director Community Service Charlie Merrill CLU LUTCF Director / Ethics David Walrep LUTCF CLU ChFC Director / Awards Lesley Pinckard CLU Professional Development Regional Director Esther Davis Association Executive A Newsletter for the members and friends of NAIFA-GSW NAIFA-Great Southwest The NAIFA 2007 Convention and Career Conference is September 8-12, We will participate in the Day on Capitol Hill. Liberal Democratic Strategist Bob Beckel and conservative columnist Cal Thomas will take on the contentious issues that divide America along partisan lines and find areas where they agree, just like in their USA Today column, "Common Ground". Molly Shannon is this year's Life Insurance Awareness Month Spokesperson, and she will share her LIFEStory with us. We will also be voting for our very own Great Southwest member Tom Currey for Secretary of the NAIFA Board of Directors. Thursday, September 13 - Don't miss out on the first luncheon meeting of the new association year! September is Life Insurance Awareness Month. Use this promotional tool to meet the needs of your clients and increase your sales. LIMRA International tells us that 3 in 10 adult Americans have no life insurance at all and only 4 in 10 adult Americans own individual life insurance. We have a lot of work to do. Much success to you September 8-12, 2007 Thursday, September 13, 2007 President Save these dates NAIFA Conference Hilton Towers Washington, DC Membership Luncheon 11:30 am 1:00 pm Shady Valley Golf Club September is Life Insurance Awareness Month Remember: No Membership Meeting in August! Have a great Summer! See you on Thursday, September 13 th! Page 1 of 5

2 A recent survey indicates that 68 million Americans have no life insurance and those with coverage have far less than most experts recommend ensuring a secure financial future for their families. In fact, ownership of life insurance has been declining for decades and the impact is being felt in very human terms today. When a loved one dies without adequate life insurance coverage, surviving family members often face very difficult financial consequences like having to work additional jobs or longer hours, borrow money from friends and family, move to smaller, less expensive housing, or put plans for a child s education on hold. With so many Americans in a financially vulnerable situation today, the life insurance industry has created a month-long public awareness campaign aimed at encouraging the public to take stock of their life insurance needs. Life Insurance Awareness Month (LIAM) is an industry-wide effort coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE). Each year, LIFE is joined in this educational initiative by more than 100 of the nation s leading insurance companies and other industry groups. All share the same objective: to end the unnecessary financial suffering that so often occurs when a loved one dies. The Least That I Could Do. By Jeremy Normand, LUTCF, ChFC The PAC, or Political Action Committee, for our association provides information to legislators as well as political contributions to their campaigns. Money in politics never guarantees an outcome, but it does provide access to legislators who need to hear our story. So often our story is told by angry consumer groups who don t have the consumer in mind. Trial lawyers also get to tel a story about our industry that is often unflattering. The real story about our industry and the agents that help consumers face the risks of everyday life is a story of compassionate advocates for those who most need help when a death occurs, a disability befalls a breadwinner, or a catastrophe wipes out a home. As professionals, we have an obligation to tell our story. The least we can do is alow this story to be told to the policymakers whose decisions afect our business and our clients lives. Of course, one of the things we would least like to hear from someone is he did the least he could do. Perhaps we should consider doing more. By getting to know our legislators, writing letters to the editor of the local paper, and, yes, contributing more to the PAC, we could do more than the least we could do. Consider what course of action you can take to do more than the least you can do. Page 2 of 5

3 Let Your Voice Be Heard By Sarah Merrill-Young As National Committee person for the year, I want to challenge each of you to be active participants when it comes to legislative issues regarding our insurance industry. There are two outstanding organizations NAIFA has for your benefit: Insurance and Financial Advisors Political Action Committee (IFAPAC) and Advisors Political Involvement Committee (APIC). The following is one issue that has been talked about for many years and you are able to contact your local congressman for any input as an insurance professional. Next item is NAIFA annual conference in Washington, DC. As a member of NAIFA Great Southwest your voices will be heard! We are honored to have representation by our president Misti Reed and our regional director Lesley Pinckard. Please take time to discuss with them any items you would like to be presented at the conference. There wil be much discussion regarding NAIFA s 21 st Century Strategic Plan Report along with several proposed by law changes. If you have not taken time to review the report, please do so. 110 th NIA BEAN-ROYCE: BI-PARTISAN DEMAND FOR INSURANCE REGULATORY REFORM First bipartisan House version of National Insurance Act would offer insurance consumers and providers with much-needed regulatory alternative WASHINGTON, DC - United States Representatives Melissa Bean (D-IL) and Ed Royce (R-CA) have introduced the first bipartisan House version of the National Insurance Act. The bill is companion legislation to S.40, which was authored by Senators John Sununu (R-NH) and Tim Johnson (D-SD). The National Insurance Act of 2007 would create an optional federal charter (OFC) for life and property/casualty insurance providers. The OFC would serve to reduce regulatory obstacles to improving the cost of the delivery of insurance products to American consumers and businesses. There is litle argument that the current state-based regulatory system which oversees the insurance industry is outdated, burdensome, complicated, duplicative and costly, said Rep. Royce Designed to miror the regulatory structure found in the dual banking system, the NIA would provide the industry with a more effective regulatory alternative. Insurance providers could choose to be regulated at the state level or by the new federal regulator. Those insurers opting for federal regulation would be better able to serve insurance consumers across the United States eliminating the need to engage in the tangled web of bureaucracy and duplicative regulation in each and every state, Royce said. As the Bloomberg-Schumer Report suggested earlier this year, the creation of an optional federal charter for insurers must be a top priority if the United States is to remain a global leader in the financial services industry. Consumers wil benefit most from an optional federal charter. The increased competitionamong insurance providers will result in the availability of more products better products with lower premiums. This is the ultimate win for consumers, Rep. Royce said. Page 3 of 5

4 Cover Life s Bases A former Los Angeles Dodger, Stan Russell uses his love for baseball to help illustrate to his clients the need to protect their income. After high school, Russell was drafted and played professional baseball for four years before his athletic career was cut short by an arm injury. From there, he moved on to the financial services industry. He shared the baseball analogy he uses with clients with his MDRT colleagues at the 2006 Annual Meeting. I explain to clients that I have my CLU, ChFC, CSA and CLTC professional designations, but these don t mean anything to them if they don t understand what we talk about. To help them understand products and their purposes, I use a simple baseball diamond diagram: First base is medical insurance. Many clients are already covered through work, but being uncovered can result in astronomical medical bills with a single illness. Second baseis life insurance. I cal it love insurance, as most people who buy this product love someone. I ask clients: How much do you love your family? Put a number on it, and then insure yourself and your spouse for that amount. Third baseis disability income insurance. This protects clients No. 1 asset: their ability to work and get paid so they can feed and take care of their family. Third base should also include longterm care insurance and, for many, critical illness insurance. Home plate is retirement planning, estate planning, wills and trusts. I tell clients that they must be able to put their head on their pilow every night and understand that al of their bases are covered and that nothing could financialy destroy their family. A few days after I explain the baseball diamond, I usually get a call saying we need to meet again, and that they need to purchase more second and third base. And, we should also start increasing home plate with our retirement plan, and update our wills and trusts. Personal experience leaves no room for doubt in Russel s mind about the importance of covering clients financial bases. When his 36-year-old wife, Jill, was diagnosed with an aggressive form of leukemia, the disability and life insurance policies he owned saved him from shutting down his business and losing the house he shared with his family. His question is pertinent to clients and colleagues: Have you covered all of your bases and those of your clients? Stanley R. Russell, CLU, ChFC, is a 25-year MDRT member with one Court of the Table qualification. Russell is a member of the National Family Caregivers Association, the National Association of Insurance and Financial Advisors and the National Association of Health Underwriters. His entire Annual Meeting presentation is available at the MDRT Power Center ( Courtesy: Million Dollar Round Table Phone Fax Website: Page 4 of 5

5 Ready to Join? For more information on how to join NAIFA-Great Southwest, contact Scott Kissinger at (817) Or you may contact the NAIFA-Great Southwest office at (817) or for more information at Membership in NAIFA is all about your success. We give you the tools you need to grow your business and propel your career as an insurance or financial advisor. At NAIFA, we provide our more than 70,000 members with creative sales and marketing ideas, networking opportunities, first-rate sales and skills training, and the best legislative representation in the industry. And, with over 900 state and local NAIFA associations nationwide, you can attend regular meetings in your area to network with your peers, share ideas, and form business alliances. Join NAIFA for less than $1 a day, and make a personal investment in your professional future! Explore this section to learn more. NAIFA-Great Southwest Board of Directors Strategic Planning Session Misti Reed, President , called the Strategic Planning Meeting to order at Moni s Pasta, for a very rousing and delicious orientation with the new Board of Directors. Many great new ideas for the year were exchanged and many wonderful lunches were eaten. If you would like to participate with the NAIFA- Great Southwest Board by introducing some ideas, you are welcome to do so. The next Board Meeting will be Thursday, August 23, 2007 at 11:00 am at Moni's Pizza Left to Right: Scott Kissinger, Sarah Merrill-Young, and Pasta, 1730 W Randol Mill Rd, Arlington, Misti Reed, Ken Morton, Lesley Pinckard, and TX Moni's needs to know the Jeremy Normand. number of seats to reserve for us, so please confirm your attendance with Esther Davis, our Association Executive, as soon as possible at davisvr@copper.net. Page 5 of 5