How Tech-Savvy Are Your Agents?

According to survey data from a recent study conducted by Agent Media. The Publisher of Insurance Marketing Magazine, agents are using technology in many different ways to further their careers. Below are some interesting statistics regarding agent’s online habits:

Online Training:
In the past 12 months, 82% of agents have logged on to an insurance-related online event, such as a web conference or webinar
66% of agents have received continuing education credits through online sources with an additional 15% receiving online CE from a webinar.

Technological Tools:
95% of agents say they rely on email professionally
93% of agents say they rely on the cellular phone
66% rely on their company website

Support Services:
38% of agents say that online access to forms, licensing, case status, commission tracking, and more is the most important service their brokerage provides. Online access outranked sales training and product training as the most important service brokerages provide to agents.

Email:
62% of agents read email related to the Insurance industry before 9:00 a.m.
45% of agents say they usually check their business email more than 5 times a day
42% of agents say they prefer to hear about the latest industry offers via email; 30% of agents prefer learning about new offers via the internet

Mobile Technology:
64% of agents use a laptop computer with wireless capabilities
30% of agents use a PDA, Blackberry, or other handheld computing device

Please visit our website at www.learninsurance.com to learn more about online continuing education and pre-license preparation courses available in your state.

360training and Learninsurance at 2008 GAMA/LAMP conference in March!

360training will be attending the GAMA/LAMP conference in San Francisco on March 16th – 18th. The LAMP show is the biggest event of the year according to Business Development Manager Jason Clark. “We recognize that throughout the insurance industry GAMA is the one conference you must attend, so we plan to be there.” Learninsurance will unveil their Life Lessons product suite at the GAMA show. Also in attendance will be the author of Life Lessons, Frank M. Radaszewski, a 20-year veteran of a North American top-five multi-line carrier.

Be sure to check back for more conference updates on http://www.learninsurance.com/

360training and LISA join up to offer Life Settlements CE Online!

The Life Insurance Settlement Association (LISA) has entered into a cooperative partnership with 360training to offer approved CE specific to the Life Settlement Industry. The first course is an overview of the industry to provide new agents a better working knowledge of the Life Settlement process. This area of insurance is growing at an ever expanding pace with current estimates for face value of life policies at 12 Billion in 2006 leveling off to 60 Billion, according to LISA Director Doug Head.

The course is currently approved for (1) hour of Continuing Education in the following states: AL, AZ, AR, CT, ID, IA, GA, KS, MD, MO, ND, OH, PA, TN, VA, WV.
Please check www.learninsurance.com for more updates coming soon!

Life Insurance Savings: 5 Ways to Save in 2008

(excerpted from INSWEB 2008)

2008 is now upon us! According to USA.gov, the five most popular New Years resolutions were as follows: 1) lose weight, 2) pay off debt, 3) save money, 4) get a better job, and 5) get fit. If your resolution is to save money this year, or you need to save to pay off your debt, one way to achieve this is finding savings on your life insurance policy.

There are five basic ways to save on your life insurance policy: (1) shop around and compare multiple quotes; (2) select the term length that is appropriate for you; (3) buy only the amount of coverage you need; (4) check for price breaks; and (5) buy when you’re young.

Shopping Online and Comparing Multiple Quotes

The amount you pay for term life protection depends on the amount and term-length of your policy, your health and age, and the insurance company you select. Make sure to shop and compare quotes from multiple companies. As you will learn, the cost of the same policy can vary by hundreds of dollars among different insurance companies. Just as your needs are always changing, so are term life insurance rates.

Selecting the Appropriate Length of Coverage

Everyone has different life insurance needs; therefore, a one size fits all solution doesn’t really apply when it comes to term life insurance. While it may make sense for people in their 30s and 40s to secure a 20-year term length, a 10-year term might be more appropriate for someone nearing retirement. Individuals who have 30-year mortgages for example, might consider a 30-year term life policy to ensure that the home is protected throughout the life of the loan.

Determining the Right Amount of Coverage

The purpose of life insurance is to replace financial loss, and what most people should be looking for is “income replacement” for their beneficiaries. In shopping for term life insurance, many agents may try to sell you more coverage than you need so be careful not to get caught up. Financial planners recommend a policy amount at least equal to 6-10 times your annual gross income.

Checking for Price Breaks: Paying Less for More

Insurance companies are known to offer price breaks at certain coverage amounts (e.g., $500,000 vs. $750,000). Many people can actually pay less money for more coverage. Check how little your prices increase when you when you change your coverage to $250,000, $500,000, or $1,000,000.

Buying When You're Young

While your financial needs may be lower at a younger age, the rates are also substantially cheaper when you're young. The best advice is to lock in as much protection at a young age while your health and prices are still good to avoid paying substantially more when a shorter-term policy expires.

Even if saving money wasn’t your top resolution for 2008, saving money on your life insurance policy is easy enough that you can achieve two New Years resolutions this year!