Being a Brokerage General Agency in New York: Why so Few BGAs can Thrive
Brokerage General Agencies pride themselves on providing their agents and advisors with prescient information regarding the most appropriate life insurance and annuity products for their clients. However, for BGAs, carriers, and residents alike, understanding and complying with life insurance regulations in New York can be positively daunting. The intricate web of laws, regulations, and administrative processes creates a landscape that is often challenging for the BGA to navigate. Regis Financial Partners prides itself on charting a straight course through New York’s complicated regulatory waters for life insurance agents and financial advisors. Let’s take a look at the hurdles that prevent so many BGAs and insurers from doing business in the state.Regulatory Fragmentation Rolls in like a Fog from the Raritan […]
Policy Review: Having the Conversation
The journey through life is met with only one certainty: Change. In many respects, life insurance was created to anchor our expectations in the face of this truth. So the policy your client purchased years ago may no longer align with their financial goals for their family today. It’s inevitable. Over time, the anchor may slip. Your client depends on you to look for gaps in their life insurance coverage. This is why performing regular life insurance policy reviews is a critical duty of every life insurance agent. Ethical Opportunity: Policy Reviews are a Win-WinPolicy reviews are effective at improving the value of your business while also enhancing the protection of your clients. While uncovering new protection needs or financial […]
Protecting Your Client’s Assets: The Importance of Long-Term Care Insurance
Life isn’t scripted. While we plan for the expected, it’s equally important to prepare for the unexpected. As a life insurance agent or financial advisor, this is a foundational aspect of your business in protecting your clients. However, one aspect that often goes overlooked in financial planning is the need for Long-Term Care Insurance (LTCI). In this blog post, we will explore the risks associated with not having LTCI, backed by current statistics on the likelihood of needing long-term care. We will also examine real-life examples of asset erosion when individuals must pay for long-term care out of pocket. As your clients age, the need for strategies that utilize LTCI becomes paramount to their financial well-being.The likelihood of needing long […]
Beyond Disability: Executive Benefits, and Succession Planning for Clients Who Own Businesses
The economic and competitive landscape for business owners today is experiencing tectonic shifts. The Pandemic left indelible impressions on nearly every aspect of business. Uncertainty has an uncanny way of creating new rules for how companies and their employees relate to one another moving forward. Even before the crisis, retaining top talent required benefits packages that included Disability Insurance to protect key employees’ income. Today, however, these needs have increased substantially. Business owner clients rely on their advisors to help them meet these needs in a holistic manner. The focus now must be on how to help these clients not only retain talent through enhanced benefits but also on strategic planning for business succession. We cannot know the future, but we […]