Tuesday, June 24, 2014

Unofficially: National Annuity Awareness Month

Just like other products in our industry, annuities could use some better understanding and attention too. Sponsors like the National Association of Insurance and Financial Advisors (NAIFA) and the National
Association of Independent Life Brokerage Agencies (NAILBA), are working to declare June as National Annuity Awareness Month (NAAM). A congressional resolution is needed to make it official in the Federal Register, which they hope to accomplish by June of 2015.

Educating the public and financial professionals of the important role annuities play in helping Americans plan and save for retirement is the primary goal of National Annuity Awareness Month. More and more people are using annuities for security in retirement to protect them from outliving their financial resources. Annuities are unique among the financial products available in the marketplace because they can provide retirees with a guaranteed lifetime income stream.

Throughout this month of June, trade associations will be providing educational materials and social media communications to get the word out about the importance of understanding annuity products in today's challenging economic time. You can take advantage of their efforts by joining in on the cause. Click here for a great place to start.

Monday, June 9, 2014

Opportunity Worth Repeating

Do you currently market your practice to women? Your immediate reaction to this question is probably "Yes, of course I do!" But, more clearly understanding the financial need of women, and specifically
*Hot Topics,"Women and Philanthropy,
Sharing the Wealth."
To the Contrary hosted by Bonnie Erbe,
PBS Online, 8/18/2012. 
marketing to that need is how you gain more clients in this under-served segment of the population.

In many American households, women are the primary decision makers and 53% of them are also the primary bread winners.* Women are focused on protection. They don't want to outlive their money and they don't want to be a burden on someone else.

When you are working with couples, it is extremely important to use words that reflect a shared need for protection and a joint effort in the decision making process. One million women become widowed every year in the United States and 70% of them change advisors after the death of their spouse.** Making all female prospects feel comfortable with you as a trusted resource will help to reduce that turnover in your business.

MVP will be hosting a Marketing to Women webinar with Prudential. You can learn more about this important market by joining us. 

W E B I N A R  D E T A I L S
Date: Thursday, June 19, 2014
Time: 9:30 – 10:30 a.m. CT

In the meantime, here are some great resources to help you get started:
* Source: Financial Experience and Behaviors Among Women, Prudential 2012.
** Source: Spectrum Group Study of Wealthy Women Investors, June 2011 and U.S. Census Bureau, August 2011 (Marital Events of Americans, 2009)