The Pros And Cons Of No-Load Insurance Products

Annuities and life insurance the main insurance products; they’re typically sold on commission by an insurance agent. This essentially increases their cost to the buyer. On the other hand, products sold directly by an insurance company without the use of an agent have reduced costs. They’re considered ‘no-load’ insurance. Let’s consider their pros and cons.

*The pros:

Though agents and brokers can market no-load annuities, most products come directly from the issuing company. Nevertheless, most no-load annuity contracts will still charge some fees, such as mortality and expense fees, and investment management fees in variable annuity contracts.

Typically, these fees are less than on conventional annuities. As an example, no-load annuities usually don’t charge 12b-1fees like conventional contracts do, because these fees usually cover marketing and distribution expenses.

No-load life insurance charges lower fees than traditional policies, too. Your premiums for a no-load policy are much less during the first year than a comparable policy that pays an agent or broker because much of the first year’s premiums go to pay his commission. Also, most no-load policies also have no cash surrender fees and allow for earlier access to any cash value in the policy.

Whether policies are called no-load or low-load, they generally offer substantially lower costs. That often makes them attractive for fee-based financial planners to offer. He’ll charge a separate fee for recommending the product and servicing it once it’s in force.

Clearly, paying less for a given product is an advantage. Faster cash value build up and earlier accessibility of funds are important too.

*The cons:

But a key disadvantage of buying no-load products on your own is the loss of an insurance agent to service and help you with policy problems and modifications. You may be left with only a customer service representative to assist you.

Additionally, such products often have none of the frills of traditional policies. As an example, no-load variable products that rely on subaccounts for investments may not offer money-management services like portfolio rebalancing and asset allocation.

Insurance riders often sold with traditional policies may not be available either. That can reduce the flexibility to modify what you might need in the future.

Competently buying no-load insurance products requires you to have a somewhat sophisticated level of understanding of what you’re buying and what you need now and possibly in the future. Lacking that knowledge may cause you more money in the long run.

*Discretion on your part:

Obviously individuals who like to handle their investments in more detail will find the lower cost of no-load investments advantageous. They must understand their lack of need for any features available under loaded investments. But if you probably need advice and really don’t have the time to go into the detail required, then seek guidance from an agent and let him explain the pros and cons for your situation.

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Insurance Market Analysis – States Ranked 21 Thru 31 For Insurance Product Marketing

In this insurance market analysis are 10 states ranked as not earth shattering for recruiting agents. However, these states should be repeat winners every time you use a top-notch insurance mail list to contact the key insurance product marketing brokers. Merging insurance marketing skills, with a quality mailing list, puts these states within the budget of many regional and national brokerage firms, along with the big wholesalers fmo’s, and insurance companies. Read each different insurance marketing analysis.

In these 10 states, trim the unnecessary fat away and you have an excellent brokerage mailing list. This means no mass mailing, email blasting, or faxing. Mass marketing to insurance agents is not only very foolish, but also in the end costly. How many agents respond at the lowest cost is very insignificant in an insurance recruiting campaign. What is important is the quality of the agent that responds and in turn if this agent actually becomes a proven producer. Do not measure by “leaders” but by production from contracted insurance brokers.

NEW MEXICO, Rating = 21 In the last 5 years this state has really turned directions for recruiting. Before this, the state had far too many insurance agents, with minor experience. The turnover rate was ridiculous. Everyone had a rookie cousin in the business, and another licensed cousin who was rapidly falling by the wayside. This has changed. The big Northeast/New England career recruiting shops wised up finally, and closed down shop. As a result, there are more semi-independent minded agents climbing up the success ladder. The number willing to give brokerage products a good look is rising. As additional competing recruiters are catching on to our advice, get your piece of the action before it gets too over hit. The downside is the highly migrant average household income in this state is $20,000 lower than that of many states where the big life career companies are headquartered. All factors considered the future is now two thumbs up.

WEST VIRGINIA, Rating = 22 By the little recruiting attention this state receives, you would think it is hidden on the map. West Virginia averages only 1/4 to 1/3 the population of the states of Virginia, Maryland, Massachusetts, and New Jersey, and the agent receives at least 90% less calls, emails, or mailings. The problem to annuity recruiters is that West Virginia ranks dead last of all states when the median household income is examined. The decent senior population makes it a respectable area for selling long-term care and senior life products.

NORTH DAKOTA, Rating = 23 North Dakota, for being such a cold state, has one of the highest percentage of senior age citizens in the entire nation. This small agent population state, makes finding senior market agents a great find. Combine that with the warm reception of many fraternal life insurance agents. Here is the opening for marketing to agents you health insurance plans. However, when looking for annuity sales reps, the median family income needs to be acknowledged. In this, sales area, because of sub-par overall income status, North Dakota would rate lower for annuity marketing organizations and wholesalers.

SOUTH CAROLINA, Rating = 24 Agent reception in South Carolina, sure lags behind its sister state North Carolina. Two factors lower this state’s recruiting rank. First, it is a state of a lower family income level. Second, it is also a state with higher agent turnover. If you target the right agents with the right products at the right time, you will find the South Carolina is smack dab in the middle. Part of this is the fact that South Carolina is not given enough recruiting attention.

MAINE, Rating = 25 “Little” is the word keeping this state from being ranked much higher. There is an insufficient number of agents to give a seminar, and almost too little to mail. Maine agents, unlike those in most northeastern states, are receptive to both local, regional marketing firms, along with far away national marketers and insurance companies. Like North Dakota, the overall income status is low, but the number of seniors willing to brave the winter chill is high. A state way overlooked. Especially it is true when recruiting firms are looking for agents to sell ltc, life, and annuities to the senior and near senior ma

LOUISIANA, Rating = 26 The hurricane disaster sent this state hastily rolling 6 spots downward on our recommendation list. Since then, it has climbed back up two positions. Many agents have made a transition to drier states with a better economy. It was already one of the poorer states, and right now, many low-income people stayed. In New Orleans, many with money or job transfer opportunities moved out. The surviving agents, with over 5 years experience, still have a stable client base, or work parts of the state not affected by the disaster. The good news is that your competition has pretty much given up on the state. Some adaptive, insurance brokerage operations tell us that their current Louisiana mailings are getting the best results ever. The main reason being is that the less knowledgeable recruiting competition has retreated.

PENNSYLVANIA, Rating = 27 We feel the state of Pennsylvania keeps the worst insurance records of licensed agents. Are there really 100,000 or so just life and health agents alone? Absolutely Not. Moreover, how about the addresses of the agents? Using addresses the insurance department provides would produce far in excess of 30% of your mail being undeliverable. This might sound shocking. However, numerous other state insurance department agent address records hover between 20 and 35% not deliverable. Do not trust anybody that says they have a large accurate list of Pennsylvania agents. Hint: In Pennsylvania, obtain either a small-refined list or none at all. Definitely, this is not the state to engage in mass mail, mass email, or use telephone telemarketing. Overall, the agents that can be determined to being brokers (placing business with an outside company) are premier producers. Only the best will do, especially for target marketing to agents with a knack for annuity and financial related products.

MONTANA, Rating = 28 The agent base in Montana is small, but the geographic area they must cover is immense. The amount of small independent multi-line, life-health-auto=home agents is beyond normal proportions. This however is a plus factor. The majority of these small operations are independent, representing multiple carriers. They place their life and health products with different carrier insurers that receive their car, home, and business insurance premiums.

IOWA, Rating = 29 Iowa is the home to many life and health insurance companies, and most insurers like to have a heavy presence in their home states. Therefore, while the insurance company direct recruiting pressure is high, the pressure placed by brokerage and marketing firms is average. It is a hard city for recruiting wanting to give a seminar. Only Des Moines has enough quality agents to invite. This means areas like Cedar Rapids, Davenport, and Sioux City are commonly overlooked. The demand for agent recruiting is overall is slightly below what it should be.

IDAHO, Rating = 30 There are a lot of potato farmers spread out over a vast lot of land for the professional agents to follow up on. Unfortunately, the number of independent agents and agencies in this state falls below what it should be. Although there are quite a few agents that will occasionally place insurance, life or health cases outside their main company. So many should be called semi captive and semi-receptive, instead of independently receptive. The amount of business each broker produces is limited, making it harder on the insurance marketing firm to get a good return on investment.

ILLINOIS, Rating = 31 Illinois is a very large population state, with a 60/40 split. This means 60% of the agents are crammed in the metropolitan Chicago area alone. The Chicago are shares many of the New England State characteristics. The similar features are the higher than normal agent turnover rate, the large presence of big career life training companies, and the 9th highest median family income in the United States. The other 40% of the state follows its Midwestern state counterparts. It has more independent brokers, less recruiting competition, and producers receptive to annuity, life, and health offers. Stay out of Chicago, and you find a good middle range state for marketing your products to agents.

Right here, in case you are printing out the ranks, are the top 20 states in order. They are Florida, California, Texas, Ohio, Georgia, Wisconsin, Minnesota, North Carolina, Michigan, Missouri, Tennessee, Oregon, Alabama, Kentucky, Arkansas, Mississippi, Oklahoma, Nebraska, and Utah holding the 20th position.

Well published author, Don Yerke likes to concentrate on what you don’t know or what no one else dares to print. Tell it like it is.

Watch for his new paperback book debuting on Amazon early this summer. It is loaded with great insurance marketing and recruiting information.

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Why is Music Education Important?

Music is a way of life. Everything in our environment-the raindrops, the hushing wind, the flowing river-has its own sound that produces music to our ears. We encounter music in our everyday lives, and this music brings harmony and peace to our soul.

Music education is far beyond learning instruments, reading notes, and mastering vocal techniques; it is a deeper encounter with the environment and with one’s self. It provides enriching benefits to a person’s mental, physical, and emotional well-being.

Here are the benefits of music education:

Music makes you smarter

A number of scientific studies concluded that music could enhance a person’s intelligence. Harvard psychologist Howard Gardner said that music intelligence is equal to logical intelligence, kinesthetic intelligence, interpersonal intelligence, and interpersonal intelligence.

Learning music is as important as walking or talking; it is intertwined with our mundane activities and basic skills. Thomas Armstrong said, “Intelligence is galvanized by participation in some kind of culturally valued activity and that the individual’s growth in such an activity follows a developmental pattern; each activity has its own time arising in early childhood.”

Studies have shown the same result: the early participation in music can help sharpen one’s brain. Children who receive early music education have higher IQ, comprehension, reading and listening skills. Children, who learn to play instrument, or those with early music education, excel in academics than those who do not.

It relieves stress

The importance of music education is visible in simple things. Everyone suffers from stress due to unnerving tasks within the family, work, and school. The loads of school projects might have given you headache, and the pressure of performing your responsibilities at home could have gotten worse, but all these anxieties will go away once you’ve heard a soothing music.

Have you observed that music can relieve the stress after that long, strenuous day? After you tuned-in to your favorite radio station, you’ll suddenly feel relaxed and the music will wash out the bad mood you had.

What’s more if you can play an instrument? Playing an instrument can calm the mind and replenish your energy. Playing instrument can also help burst out your feelings, which is a healthy way in releasing your negative emotions.

It gives euphoria

Anyone can be good at playing the piano, a guitar, or a saxophone-but the happiness you get from discovering your talent is, undeniably, the best experience. Learning how to play an instrument alone makes you happy; what’s more if you can play an instrument very well. It puts on a big smile on your face whenever you learn a new piece, after all those sweat and tears you have sacrificed for about a month or a year.

Sense of achievement

Life gives a sense of achievement even in small things; thus, learning how to play an instrument is more than a self-fulfillment. The happiness and satisfaction you get from music is priceless.

Achievement doesn’t reflect on the level of one’s expertise, but the achievement he or she gets from learning music itself. It does not deal primarily on neither the simplicity of the piece nor the instrument/s you have mastered, but it deals with the contentment and the happiness that are truly worthwhile.

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Memory Genius Learning Series – Why is Education Important?

The Memory Genius Leader seeks out every opportunity to equip everyone in the family, school, and organization with the same unity of thought that the leader possesses in his or her role as the philosopher. The leader is a model of lifelong learning; in addition, the leader encourages and equips everyone in the organization to grow in wisdom, knowledge, and skill. The role of the Memory Genius leader is as a learning leader and an educator.

The word education comes from a French root that means to lead out of ignorance. Memory Genius Leaders lead from a platform of knowledge-their personal and professional logos; and they lead the organization to knowledge-knowledge of the logos, knowledge of the vision, knowledge of the best business practices, and knowledge of the best ways to build relationships of trust and respect in homes and communities.

We cannot, must not operate in ignorance. As individuals, we need knowledge to grow in all six areas of human development: mental, physical, spiritual, social, financial, and emotional. As a society, we must acquire knowledge for human betterment. And as an organization, it is impossible to make our vision become a reality without the proper education of all people within that organization. During the early 1990s, a phrase that became popular in books and articles on leadership was “the Learning Organization.” The concept emphasized the importance of constant, continual learning. If individuals and organizations are not learning, they are dying. James Belasco and Jerre Stead wrote a fine leadership manual, titled Soaring with the Phoenix. They asserted:

Knowledge has always been the differentiators. Hannibal’s knowledge of the Alps enabled him to defeat a superior Roman force. American ingenuity enabled us to defeat a far superior German force in North Africa during World War II. Better-trained Israeli pilots defeated a much larger Arab force during the Six Day War. Superior knowledge inevitably wins.

Richard Teerlink, President and CEO of Harley Davidson, insists that “People are the only long-term competitive advantage and lifelong learning is the way to fully develop that advantage.” With access to new information and new business strategies advancing at micro-processed speed, those organizations that hope to survive in the new millennium must engage in an ongoing process that encourages the development of new ways to learn faster and work smarter than the competition. Champions of Change must improve their thinking before they will be able to improve their performance.

Why is education important?

Great Memory Genius leaders engage the hearts and minds of everyone with ennobling beliefs and enduring values. In addition, Memory Genius Leaders engage their Purpose Partners’ (students/employees/associates) hands with skills that equip them to perform at maximum efficiency.

I once heard a story about a man walking through a cemetery whose attention was captured by this epitaph: “Died when he was thirty; buried when he was sixty-five.” The passerby stopped, puzzled. Peering down at the tombstone, he found the explanation engraved at the bottom of the stone: “He stopped learning when he was thirty.”

There are a great many people that can be represented by those doleful words. Everyone dies when they quit learning, though they may not close their doors for several more years. If you were to ask the president of a failing company when the business died, an honest and perceptive leader might reply, “We died about twenty years ago, when we stopped reading, stopped learning, stopped listening to our customers and our Purpose Partners┬«, and when we stopped training. We died when we thought that we had arrived at the top of the heap and had nothing more to learn.”

If we’re not learning, we’re not living! The lifeblood of every individual and every organization is the passion and joy that is aroused by the wonder and discovery of learning. Memory Genius Leaders know this; they are insatiable models of lifelong learning and vigorous proponents of continuing education. They leave books and periodicals in the waiting areas of their companies, in break rooms, and on people’s desks. These learning leaders earnestly believe that one of the most important parts of their organization’s compensation package is education, and they make every effort to ensure that these “benefits” are unmatched by their competitors. The company is breathing and growing and taking in intellectual nourishment. The organization is so alive with the culture of lifelong learning that if you were to cut it with a knife, it would bleed knowledge!

Far too many of us have lost touch with the wonder and the adventure of learning. Young children are inexhaustible question-boxes. They are bright-eyed and curious, constantly asking, exploring, and learning. Why would we adults want to “grow” out of that? We seem to believe it is a sign of sophistication to appear incurious, as if we already know all the answers to everything. The loss of intellectual curiosity is a sign of regression, not of health. It is a sign of immaturity, because we have become so prideful that we want to impress everyone with what we know-or, worse yet, to appear as if we know when we actually do not-instead of learning to be quiet and honor others by listening to what they have to say.

I believe that pride may well represent the greatest barrier to learning.

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Why is Personal Finance Education Important?

Credit card and personal finance education on the agenda in NJ

New legislation in New Jersey’s state government would require personal finance education including a variety of detailed explanations on credit and debt terminology and consequences for card applicants.

The bill sponsored by New Jersey state Senator Barbara Buono and passed unanimously by the Senate Commerce Committee would require lenders to register with colleges and universities annually to announce their presence on campus.

The bill would also inhibit lenders from offering a slew of freebies to young adults that sign up for a credit card.

Buono commented on the importance of personal finance education saying, “Promotional sales gimmicks and students’ own ignorance about the factors playing into their personal credit and credit card debt result in many young adults getting in way over their heads. By informing them of the facts and eliminating sales gimmicks, we can hopefully empower students to make better credit decisions.”

As the bill moves through the full senate, the Philadelphia Inquirer is reporting that campus officials generally support the measure.

Rowan University spokesman Joe Cardona hailed the bill as important legislation. At Rowan, credit card companies have been banned from on-campus solicitations for over 10 years, reports the Inquirer.

Uptick seen in personal finance education

Attendance at personal money management classes is up both in the classroom and online, but why is personal finance education important?

The Wall Street Journal is reporting significant increases to education and “financial literacy” classes that are hosted at local community spots, universities, and online from educational institutions like MIT.

Some people hoping to learn about the effects of the credit crunch, the status of the real estate market, and economic theory are apparently turning to OpenCourseWare financial tools which are much like a virtual class to learn the importance of finance.

Lecture notes, study guides and exams are available from this online offering of more than 180 business and financial education classes from nearly 250 universities globally.

High school students are also taking more personal finance education classes as the economy increasingly impacts how they will handle credit decisions in college and their plans for future careers.

Schools across the nation are reportedly realizing the importance of personal finance and making personal finance education courses and know-how a top priority.

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Why Is Online Education Important?

With convergence of information and communication technologies where the mobile phone, the computer, and the internet have become inseparable, more and more doors are being opened in all sectors. In the education sector, the internet has provided a new way where students and lecturers can perform their respective duties without necessarily being physically close. This is what is known as online education where both student and instructor meet online. But is online education important? Here are a few reasons why students should choose online education to advance their careers and get that most desired qualification and certificate.

Wide Range of Choices

It is only in online education where you can choose from a wide range of schools without being limited by physical distance or boundaries. You are able to choose education programs some of which cannot be available in your area. Some students are forced to take majors in courses that they would not have otherwise liked because their colleges do not offer what they would have liked. In other instances, some students live in rural areas far away from colleges of choice. With online education, you are able to take the major that you want and attend college of your choice without major relocations.

Remember that you need not go for expensive programs. This is because you are given an opportunity to choose what suits your budget. Additionally, online programs are generally cheaper when compared to the traditional class-based programs.


Online education offers flexibility that allows both the student and the instructor to meet when time or schedule allows best for them. Whether you are a busy working-cum-schooling individual that does not have time for classes during the day, you are easily accommodated in an online education program. Additionally in the global village, there are differences in time because we are not all in the same time zone. Taking an online education program that suits your schedule is made possible by the differences in time.

It is good to realize that students do not necessarily learn at the same pace. Some feel that the instructions are too fast and overwhelming while others feel that some students are dragging them behind. With online education, there is flexibility in pace and time. You can choose an online program that will suit your pace.

Online Education Offers Excellent Networking Opportunities

Unlike what many would want to believe, online education offers some of the best opportunities to meet with people from around the world. Sharing an online class will make you get important contacts and academic references some of which will help you in your future career. In order to understand this better, one only needs to look at how many friends and followers that one has gathered through online platforms. Online schools are no different.

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Is Further Education Important?

When people ask is further education important, often they have been put off by the high cost of going to college and getting a degree. It’s no secret that the cost of getting further education has increased a lot in recent years, so it is no surprise that many students question whether they can afford it. In response, I always ask them can they afford NOT to go to college.

The reason is that college graduates on average earn double the amount of money in their lives than those with just a high school education. The return on investment dwarfs any other investment you could make on wall street. There are a huge number of financial aids available for anyone who wants to go to college.

So once the price is no longer a factor, is going to college really worth it? Further education is important because of the number of opportunities that become available with a college education. It is a fact that more and more people worldwide are getting a higher education, so to stand out in the marketplace you need to have a further education beyond high school.

It’s true that there are many successful people who do not have a higher education, although this is becoming more and more rare. It is a lot more difficult to get a high powered and highly paid job without a college education than it ever was before simply because there are a lot more people with a college education these days.

So “Is further education important?” It could be the most important thing you will ever do.

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