MDRT Member Blog

MDRT Members Bring Greater Awareness to DI

Thu, 10 May 2012 05:00:00 CDT

Discussing disability insurance (DI) with your clients can be a delicate task. Many people tend to view themselves as invincible and opt to forgo DI when meeting with their financial planner or advisor. Are you challenged with how to effectively address DI with your clients? MDRT members have volunteered to weigh in.

Tune in to the MDRT Talk Series, celebrating Disability Insurance Awareness Month (DIAM), featuring members Brian Ashe, John Nichols, Ann Baker Ronn and Greg Hoernschemeyer. I had the privilege of sitting down with each of these four members to discuss why DI is so important and the strategies they use to raise awareness for this product with their clients. Here's a preview:

Brian Ashe has workdisabled clients in his career, including one who was still able to put ed with 32 his children through advanced degrees in medicine and law because of his DI policy. Log in and download to learn more.

In his segment, "Finding the 'Right Fit,'" John Nichols talks members through the steps he takes when using the "new school approach" to discuss DI with clients. He mentions how DI helped him when he suffered his own injury after a water skiing accident. Available May 16.

Ann Baker Ronn explores the importance of incorporating visual elements into discussions on DI. Using multiple charts and even a stuffed goose, she strives to drive home the importance of DI, emphasizing "you simply cannot replace yourself." Available May 23.

Greg Hoernschemeyer talks about encouraging young clients to "insure their insurability." He reminds us DI premiums remain the same after your clients purchase, so investing early is advantageous. Available May 30.

With a one-in-three chance of someone between the ages of 35 and 65 to suffer a disability, this product is an essential protection to a client's financial plan. We hope tips from these DI experts will help you in your upcoming discussions with your clients and prospects.

Can't wait for the next MDRT Talk Segment? If you have an idea for an upcoming segment, e-mail us at mdrt@gibbs-soell.com to get started!

Insightful Tips on How to Capture "The Big Case"

Fri, 27 Apr 2012 07:00:00 CDT

You have the skills, drive and determination to generate clients, but do you have the inside secrets on how to succeed in the dynamic high-net-worth market? There's a lot that's appealing about this market, but it's not all bells and whistles. It's important to not lose sight of the business that got you to this point in your careers.

If you have not already picked up the April issue of InsuranceNewsNet (INN), be sure to scoop one up or visit the website and read the cover story "The Real Story Behind Landing the Big Case." In this article, I share the best practices and details of how to effectively capture this market by meeting the wants of clients and entities with high-level insurance and financial needs, through my own personal experiences.

Additional information shared in this feature includes:

Big case pointers to break through the ultra-wealthy market

Approaches to successfully prospect to high-net-worth clients

Suggestions to rebound from setbacks

Stay tuned for more articles in key industry trade publication in the coming months. If you are interested in contributing to an upcoming article, please contact MDRT.

Teach Children to be Smart in Saving and Spending

Thu, 12 Apr 2012 05:00:00 CDT

April is Financial Literacy Month, and there has never been a better time to encourage your clients to teach their children about the value of a dollar. Whether their kids are elementary age, teenagers or young adults entering the "real world," there are many valuable lessons you can share with them in hopes of making their children more financially fit.

Teaching young children

One piece of advice you should offer your clients is not to give their kids an allowance. This only makes them feel entitled to money they didn't work hard to earn. Instead, divide house-hold chores into two categories:

1. Things you HAVE to do in order to live in the house (brushing your teeth or picking your clothes up off the floor)

2. Things you can do to help out and be paid for (vacuuming the rug or mowing the lawn)

Resist the temptation to pay your children the discounted kid-rate. Give them the amount you would a professional who provides the same service. To make them understand the value of hard work, you must hold them to the same standard.

Lessons for young adults

Explain to your clients with young adults the importance of understanding that there are two kinds of people in this world:

1. People who spend first and then save what money is left

2. People who save first and then spend what money is left

What I've learned is the people who spend first usually don't have much left to save. The people who save first most often end up with long-term financial security.

Investments vs. expenses

Last but certainly not least, take this opportunity to encourage your clients to teach their children, no matter what age, the difference between an investment and an expense. Encourage them to explain that an investment will often pay the investor back in time. An expense, however, only loses value. This will also encourage smart saving and spending. In honor of Financial Literacy Month, set aside time to coach your clients on how to teach their children the value of a dollar, the importance of saving and how hard they must work to achieve success and financial peace-of-mind.

Explore MDRT's Digital Frontier Daily

Fri, 23 Mar 2012 09:50:00 CDT

Learn techniques to improve your productivity. Get expert advice from fellow members. Join the most efficient study group in the world.

The Annual Meeting isn't the only place where you can get exclusive information and develop friendships. Embrace MDRT's digital resources every day to gain the same benefits. MDRT delivers a first-class experience for its members, with a variety of tools to help enhance all aspects of your professional and personal lives right at your fingertips. There is no limit to your success when you take full advantage of these online tools:

MDRT Connect is a resource that provides live video streaming and exhibitor resources for you to strengthen relationships and boost your business.

MDRT Network is a convenient listing which allows you to search for fellow members by name, city, state/ and or country through the Membership Directory.

MDRT Talk are four to five minute audio recordings capturing sales and productivity ideas straight from fellow members and experienced veterans.

These forums give you access to hone your marketing initiatives and expand relationships with fellow members from around the world 24/7, 365. I encourage you to share how you have been using MDRT's resources and how others can benefit from them in the comment area below.

MDRT Talk: Capturing the Conversations that Make MDRT Great

Thu, 08 Mar 2012 14:25:00 CST

How many inspirational conversations have you had with fellow MDRT members over the years? Or perhaps heard life-changing stories from clients you assisted? It's in these conversations where true knowledge and insight is shared. The power of MDRT lies in the root of talking with each other. MDRT is capturing these types of conversations with its new MDRT Talk segments.

MDRT Talk segments are 4-5 minute audio recordings, which are member-to-member conversations. Due to our busy schedules these are perfect for downloading and listening on-the-go. These function as a remote "study group." The short segments provide an opportunity to learn new techniques and skills from our fellow members.

MDRT Talk segments provide an array of topics including Boomertirement, insurance, practice management, unique client stories and much more. If you have a topic in mind you wish to hear more about or are interested in recording an MDRT Talk segment please contact the MDRT team. To listen to the latest MDRT Talk segment.