How Can a Property and Casualty Agent Improve Client Retention and Increase Revenue?

Diversifying the product lines sold to current clients can generally be a faster and less expensive way to increase revenue than finding new clients. Policyholders already know you; they just do not know all that you offer. The added benefit of doing this deepens relationships with those customers already doing business with the agency.     Offering […]

Is Long-Term Care Insurance Tax Deductible?

The short answer is that it depends. Technically, yes, premiums paid into a qualified traditional stand-alone long-term care insurance policy are deemed tax-deductible. However, that can depend on several factors. The premium payments for Long-Term Care Insurance are tax-deductible to the extent that they, along with any other unreimbursed medical expenses, exceed a certain percentage of the […]

How Much Life Insurance Do You Need in 2021?

The answer varies upon the individual goals of a client and their family or business. The answer could be simple enough to pay off a mortgage or a more complex number. The primary goal may be that anyone left behind, after death, could continue with the same lifestyle they were accustomed to while the now-departed […]

What are Life Insurance Underwriters Looking for?

Life insurance underwriters at carriers look at a long list of factors. Those factors include personal health history, family health history, driving record, prescription, medical records, and MIB (Medical Information Bureau). MIB tracks application history at other carriers. Making healthy lifestyle changes produces a significant difference in an individual’s policy rate classification for life insurance. […]

Is Keyman Insurance Tax Deductible?

The most common question asked about keyman (also known a key person) life insurance is whether the premiums are a tax-deductible expense. Per U.S. Code § 7702, the answer is, unfortunately, no. A business cannot deduct premiums paid on a company-owned life insurance policy where the company is a direct or indirect beneficiary under the policy. If the policy covers […]