Sell Life Insurance

Every day hundreds of people visit Web site or call in search of sales tips on "how to sell life insurance," especially cash-value life insurance. They want to know how to convince people to buy cash-value life insurance at a time when most people are very reluctant to spend any of their hard-earned money because of the current economy. Unfortunately, when lay it all out for them, they don't want to hear it. They still want to believe there's a quicker solution that doesn't involve taking the time to read and study. They want a simple idea that will magically attract hundreds of people to them who already want, can afford and can medically qualify for cash-value life insurance. These are the same people who will spend thousands of dollars each year on Internet leads or on a sales system that makes outrageous claims, like promising overnight success while selling from home in your underwear. I hope you are not one of those people.

The vast majority of agents out there are buying Internet or mortgage leads, sending out sales letters or term flyers, cold calling, etc., to identify those people who need life insurance. Once these agents find a prospect who needs the protection for their family, business, etc., they'll jump right in and try to convince the prospect why they should consider buying cash-value life insurance. They'll tell the prospect about how much money they'll save by purchasing cash value life insurance while they are young, and the premiums are low. They talk about the merits of owning instead of renting their life insurance. They'll explain to the prospect how they'll get all of their premiums back, with interest, so they'll be able to use that money to fund a college education for their children or have more money in retirement. And, how their money will grow tax deferred and how they can access the money tax free, without any IRS penalties. They'll try to convince the prospect that they'll need the insurance in their retirement years, and that term insurance won't be there when they need it most. All of the things these agents are telling their prospects are very true and logical reasons to own cash-value life insurance; however, in the majority of cases, the agent is indeed lucky if they are able to walk out with a term insurance sale, let alone a sale for cash-value life insurance. Why?

Then, there also are the few agents who will spend much more on an advanced cash-value life insurance selling system. Their objective is to find and attract people who want to hear more about these exciting new concepts, and to set an appointment with them. So, they send out their books and free reports, and they run ads in the newspaper offering a dinner seminar. Once they set an appointment with someone who wants to know more, they'll explain how great the concept is and how much better off they'll be financially. The concepts they are presenting are terrific, and they work. And yet, most agents are lucky if they are closing 10 percent to 20 percent of the people they are meeting with. Why?

The reason both these groups of agents are struggling with selling life insurance is they are telling the prospect how great the product is and logically explaining why they should buy it. and barely more than a hamburger special. The good thing about it being 10 bucks is barely anyone will have any say on how it’s spent because 10 dollars alone doesn’t buy you to much.

Solution: It doesn’t take much to change things. Everyone is always looking for some SBA loan, or some rich person to walk out and build a community center, or maybe some corporation to sponsor your kids trip to Six Flags. Our have the power Sell Life Insurance to do this without ever worrying about the government intruding, some outside group offering thier advice and even your local do nothing know nothing politician trying to take credit for it. Our have a lot more power than you think, just stop thinking about changing the world and just change yourself.

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Different Options Online Banking

More people are getting motivated to save money because the online banking options are more appealing. People have found that they can open a checking account at an online banking site and enjoy all of the conveniences that they already enjoy at a land-based bank in their local community. People can enjoy online savings too when they do their banking online because online banking institutions do not charge any fees to open an account with their firm.

The online banking options all people to get cash whenever they need it too. People have the option of paying an annual fee for a name brand credit card, or they can use the debit card awarded when the online banking account was established free throughout the year. People are finding that they can use the debit cards to withdraw cash from any automatic teller machine in the country and the available cash limits are very generous and allow people to earn money at the same time.

The small fees charged by ATMs add up over a year and some online banking options will reimburse customers for that expense if it is one of the options they select when the account was opened. The online banking options allow banking customers to establish checking and savings accounts that accrue interest at rates that are above what is offered by land-based banks. Online banking customers do not have to worry about idle cash because the online banking options are constantly working on their behalf to make their money and businesses grow.

People enjoy the convenience of making purchases online with the online banking options they have established. Since all funds in an online bank are fully insured, online banking customers know that is safe and secured 24-hours a day. Online purchases are protected by many Laws, and the threat of any fraud occurring is very minute. Online banks are just as safe as the commercial banking institutions around town because encryption software protects personal information provided online.

The best online banking options can be enjoyed all the time because the online banks never charge fees for the online banking options they offer. People can pay bills online and not worry about paying late fees ever again. They can use the online banking options to save money in savings account and through investment portfolios. Whichever online banking options are selected, online banking customers know that they will reap greater rewards by banking online. All of the money in any account is assured of growing in size because each account earns a daily interest rate for all money that remains in the account.

Some of the online banking options will help people save for retirement. One of the online banking options allows customers to open certificate of deposits which accrue interest over the period of a year, or in as little as six months. People can build an attractive nest egg through U.S. money market accounts and people can also enjoy using those funds when retirement time finally rolls around. The online banking options allow people to track interest rate averages for CD accounts and make elections online which saves people a lot of personal time.

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Auto Insurance Quote

The best option to get a free auto insurance quote is through online. Auto insurance is a must have and any body who owns a vehicle needs to get an insurance. Auto insurance has become mandatory in many states and people without insurance are risking their fortune. Premiums depend on the type of car, mileage used and your driving license records. A flashy sports car can draw a higher premium than a mid size family car. A car with lesser mileage can attract lesser premiums when compared to one than have higher mileage rates. An auto insurance company is very sensitive about accident records, a person with clean driving records are liable for small premium and a person with bad driving record can exert a higher premium. There are number of coverage available along with the auto insurance plan, one can select coverage that suits them best. Some of the coverage offered is Collision, property damage, injury protection, bodily injury, comprehensive and uninsured coverage.

Whether new or old, auto insurance is must for any type of vehicle. Select a trustworthy online auto insurance company after adequate research, check if they offer competitive premiums. Do not settle for lower premium as they may have some hidden cost, so check thoroughly before signing your documents.

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Bank Insurance Buffet Begins Pull Out

Banks Insurance are not the only ones struggling in the growing financial crisis. The fund established to insure their deposits is also feeling the pinch, and the taxpayer may be the lender of last resort.

The Federal Deposit Insurance Corp. whose insurance fund has slipped below the minimum target level set by Congress, could be forced to tap tax dollars through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift, or another struggling rival fails, economists and industry analysts said Tuesday.

Treasury has already come to the rescue of several corporate victims of the housing and credit crunches. The government took over mortgage finance companies Fannie Mae and Freddie Mac, and helped finance the sale of investment bank Bear Stearns to J.P. Morgan Chase & Co.

Eleven federally insured banks and thrifts have failed this year, including Pasadena, Calif based IndyMac Bank, by far the largest shut down by regulators.

Additional failures of large banks or savings and loans companies seem likely, and that could overwhelm the FDIC's insurance fund, said Brian Bethune, U.S. economist at consulting firm Global Insight.

"We've got a retail bank run forming in this country," said Christopher Whalen, senior vice president and managing director of Institutional Risk Analytics.

Treasury Secretary Henry Paulson said Monday that the country's commercial banking system "is safe and sound" and that "the American people can be very, very confident about their accounts in our banking system." FDIC officials also have said 98 percent of U.S. banks still meet regulators' standards for adequate capital.

But fear is growing on Main Street as well as Wall Street about the likelihood of multiple bank failures and the strain that would put on the FDIC.

The fund, which is marking its 75th anniversary this year with a "Face Your Finances" campaign, is at $45.2 billion — the lowest level since 2003. At the same time, the number of troubled banks is at a five-year high.

FDIC Chairman Sheila Bair has not ruled out the possibility of going to the Treasury for a short-term loan at some point. But she has said she does not expect the FDIC to take the more drastic action of using a separate $30 billion credit line with Treasury — something that has never been done.

The FDIC's fund is currently below the minimum set by Congress in a 2006 law. The failure of IndyMac Bank in July cost $8.9 billion.

Next month, Bair plans to propose increasing the premiums paid by banks and thrifts to replenish the fund. That plan is likely to be approved by the FDIC board, which consists of her, Comptroller of the Currency John Dugan, Thrift Supervision Director John Reich and two other officials.

Bair also is considering a system in which banks with riskier portfolios would be charged higher premiums, raising the possibility those costs could be passed on to consumers.

A Washington Mutual failure would dwarf the largest bank collapse in U.S. history — Continental Illinois National Bank in 1984, with $33.6 billion in assets.

By comparison, WaMu and its subsidiaries had assets of $309.73 billion as of June 30 and IndyMac had $32 billion when it shut down.

Arthur Murton, director of the FDIC's insurance and research division, said that when large institutions have failed in recent years, the hit to the fund has been about 5 to 10 percent of the company's assets.

Standard & Poor's Ratings Service late Monday cut its counterparty credit rating on WaMu to junk, action that followed downgrades by both Moody's and Fitch last week. Concern about the Seattle-based thrift, which has significant exposure to risky mortgage securities and other assets, has grown in recent weeks, and the company's stock price has plummeted.

WaMu responded Monday by saying that it did not expect the S&P downgrade to have a material impact on its borrowings, collateral or margin requirements. The bank said its capital at the end of the third quarter on Sept. 30 is expected to be "significantly above" required levels and that its outlook for expected credit losses is unchanged.

Some analyst estimates put the cost of a WaMu failure to the FDIC at more than $20 billion, but other experts say it is very difficult to predict. Unknown, for example, is the amount of advances that institutions may have taken from one of the regional banks in the Federal Home Loan Bank system. Banks and thrifts have significantly increased their requests for advances, or loans, from the 12 regional home loan banks since the mortgage crisis began last year.

These amounts aren't publicly disclosed but must be repaid if a bank or thrift fails, notes Karen Shaw Petrou, managing partner of Federal Financial Analytics.

If the FDIC doesn't have enough cash to cover the initial costs of a bank or thrift failure, one option would be short-term loans from the Treasury. That last happened in 1991-92, during the last part of the savings and loan crisis, when the FDIC borrowed $15.1 billion from the Treasury and repaid it with interest about a year later.

Based on projections of possible scenarios of bank failures, "between the (insurance) fund that we have now and our ability to draw on the resources of the industry ... we do have the resources" needed, Murton said Tuesday.

Though short-term borrowing from Treasury for working capital may be possible, he said, tapping the long-term credit line is unlikely.

But Whalen said the Federal Reserve, the Treasury and Congress should "immediately devise" and announce a plan to backstop the FDIC with up to $500 billion in borrowing authority to meet cash needs for closing or selling failed banks.

"While the FDIC already has a credit line in place and this figure may seem excessive — and hopefully it is — the idea here is to overshoot the actual number to reinforce public confidence," Whalen wrote in a note to clients. "Simply having Treasury Secretary Hank Paulson or Ben Bernanke making hopeful statements is inadequate. Like it says in the movies: 'Show us the money.'"

Before Congress passed the law overhauling deposit insurance in 2006, about 90 percent of all insured banks and thrifts — considered to have adequate capital and to be well managed — paid no premiums to the FDIC. Today, all of them do.

There were 117 banks and thrifts considered to be in trouble in the second quarter, the highest level since 2003, according to FDIC data released last month. The agency doesn't disclose the names of institutions on its internal list of troubled banks. On average, 13 percent of banks that make the list fail. Total assets of troubled banks tripled in the second quarter to $78 billion, and $32 billion of that coming from IndyMac Bank.

Last month, Bair called those results "pretty dismal," but said they were not surprising given the housing slump, a worsening economy, and disruptions in financial and credit markets. "More banks will come on the (troubled) list as credit problems worsen," he said. "Assets of problem institutions also will continue to rise."

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