February

The
syracuse
Syracuse Advisor
NAIFA - Syracuse • 606 State Tower Bldg. • Syracuse, NY 13202 • Phone/Fax: 474-6775 • www.NAIFA-Syracuse.org
“AWARDS MEETING”
“AWARDS MEETING”
Date:
Thursday, February 14, 2013
Congratulations
Place:
Justin’s Grill
2400 Yorktown Circle
E. Syracuse, NY
Time:
12:00 Noon – Sharp!
Cost:
$20.00
Luncheon and Program
Presentation of NAIFA-Syracuse’s William J. Crandall Distinguished Service Award.
Our 2012 recipient is
GARRY R.M. PAYNE, ChFC, AEP of The Carta Group/Lincoln Financial Group
Please join us in honoring GARRY!!!
Recognition of NAIFA-Syracuse Members of The Million Dollar Round Table and Qualifiers
of the NAIFA Quality Awards
Recognition of the 2013 William J. Crandall Scholarship Recipients:
BRETT J. VanANTWERP and TERRENCE M. TORMEY, CLU, ChFC, CLTC, AEP
FEBRUARY MEETING PRESENTATION (20-25 Minutes)
SPEAKER:
RICHARD C. MURPHY, LUTCF, CLU, AEP
TOPIC:
“Turning Plagiarism Into Research”
Make your reservation today through your Agency Key Person. If you do not have an Agency Key Person, please fax your
reservation to Portamedic (Fax #451-0804) or call them at #451-8530 no later than the reservation deadline. Even if you are
a Season Ticketholder, you must make a reservation.
NOTE: YOU CAN REGISTER ONLINE AT www.NAIFA-Syracuse.org by clicking on the event page and following the
instructions for registering.
Reservation Deadline: Friday, February 8, 2013
ATTENTION: Following this program, NAIFA-Syracuse will offer a two credits Continuing Education class at Justin’s. To reserve your
space, please see flyer and reservation form attached to this newsletter which will give you the full details.
Richard C. Murphy, CLU, LUTCF, AEP
February 2013
Opening The Closed Mind
In preparing to write this monthly page, I was struggling for a meaningful, out of the box concept to
write to you about. Today while spinning on my bike and watching FOX News, my wide screen box
delivered right on cue, my inspiration. Anchor Gretchen Carlson was interviewing financial guru Dave
Ramsey. The topic was leaving a legacy to your family or heirs. Gretchen read a email from a viewer
who wrote that she and her husband had put off buying life insurance because it is so expensive. She
asked for Dave’s advice. Dave, without missing a beat, informed the viewer she was looking at the
wrong type of insurance. She needed to look at 10-15 year term insurance and he cited his favorite
web site for a quote. He told her she could get a policy for a monthly premium that was less than a cost
of a pizza! Honestly, you can’t make this up.
Wouldn’t it have been professional if Dave had advised her to seek a referral to a local, properly
credentialed financial advisor? To tell her that she and her husband need to articulate their financial
goals, dreams and objectives; allowing the financial advisor time to examine their financial facts prior to
making a recommendation. Can you imagine how FOX’s email server would have exploded if one of
their regular MD contributors would have fired from the hip and diagnosed a medical problem without
first recommending a complete medical exam by the viewer’s personal MD?
Last Friday the joint EPC & SFSP luncheon featured internationally respected Dr. Robert Pororski as
the presenter. Dr. Bob is The Hartford’s Chief Medical Strategist. Last June I attended his session at
MDRT. Very enlightening; his specialty is advising the Hartford and others on the impending high costs
of longevity and how to position their products to address those needs. Longevity is defined as great
duration of life. I took a new recruit to our business as my guest to this presentation. My goal was to
have our recruit discover that there is a very compelling argument to owning a fair amount of inforce
permanent life insurance with available cash values and death benefit late in one’s life.
Term life is a great product. I have owned it, sold it and will continue to sell it …. After I get all the
client’s facts. We must understand this; term life insurance is not engineered to address longevity. It is
engineered to price itself out of existence. Permanent insurance has a disappearing feature as well. If
purchased and designed properly, the premium disappears instead of the policy.
53 years ago industry great Roger Zener was sitting on a park bench in Waikiki Beach in Honolulu,
Hawaii with his father who, with ailing heart, was nearing the end of his life. His Dad announced that he
was leaving Roger nothing in his will because everything was going to Roger’s Mom for her care for
the rest of her life; she was 50 at the time. But, Dad continued, I am leaving you something of great
value; the greatest gift a father can leave a child. Roger asked what that was. His Dad replied, I am
leaving you a Mother that can come to visit… But will never have to stay.Dad had purchased a
series of life insurance policies over the years so Roger’s Mother could live out her life with dignity.
Here’s the Bottom line…
Whether we work in a life company home office, out of an agency or work out of our
home; at the end of the day we all are in the business of selling self respect and dignity.
© Richard Murphy 2013 Timeless Treasures
NAIFA-SYRACUSE CONTINUING EDUCATION PROGRAM
FOLLOWING FEBRUARY 14, 2013 NAIFA-SYRACUSE LUNCHEON MEETING
TO RESERVE FOR THIS CE SEMINAR, YOU MUST RETURN THE
RESERVATION FORM BELOW WITH YOUR CHECK, A COPY OF
YOUR LICENSE, AND A CHECK PAYABLE TO NAIFA-SYRACUSE
DATE:
THURSDAY FEBRUARY 14, 2013
TIME:
2:00PM-4:00PM
LOCATION: Justin’s Grill, 6400 Yorktown Circle, East Syracuse, NY
COST: NAIFA Members - $20.00
COURSE:
Non-Members - $30.00
“Disability Solutions for the Business Owner”
CE CREDITS: Two (2)
_____________________________________________________________________________
NYS Approval (To be announced)
Approved for the following licenses:
C1 - Life Consultants, LA - Life/Accident & Health
Agents, and LB - Life Brokers
Offered by: Guardian Life Insurance Company of America
c/o Berkshire Life Insurance Company of America
_____________________________________________________________________________
INSTRUCTOR: Milton Hill, CLU, ChFC, CLTC
Sr. Vice President - Sales
Alliance Advisory Group/ Guardian Life Ins Co of America
The class starts immediately at 2:00pm! - YOU MUST BE THERE ON TIME AND STAY
FOR THE FULL CLASS TO GET CE CREDITS
____________________________________________________
To: Gary Cappon, CLTC
Guardian Life Insurance Co
15 Technology Place
East Syracuse, NY 13057
Phone: 315-234-5500 x303
Please reserve a place for me at the February 14, 2013 Continuing Education Seminar at
Justin’s Grill from 2:00pm – 4:00pm. Attached is a copy of my license and a check, payable to
NAIFA-Syracuse in the amount of:
___ $20.00 NAIFA Member
Name: _______________________________
___ $30.00 Non-Member
Phone: ______________________
Last 4 digits of my Social Security number: _____________
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5786 Widewaters Pkwy, Widewaters Ix
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Tel 315-446-1515
Matthew Dauksza, CLU®
Fax 315-445-1821
Matthew.Dauksza@Prudential.com
Managing Director
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Number
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The
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5786 Widewaters Pkwy, Widewaters Ix
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Matthew
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ManagingMatthew.Dauksza@Prudential.com
Director
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Matthew Dauksza, CLU® Dewitt, NY 13214
Tel 315-446-1515
Managing Director
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The Prudential Insurance CompanyFax
of America
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5786 Widewaters Pkwy, Widewaters Ix Managing Director
CA Insurance License Number 0H08607
Dewitt, NY 13214
The Prudential Insurance Company of America
Tel 315-446-1515
5786 Widewaters Pkwy, Widewaters Ix
Fax 315-445-1821
Dewitt, NY 13214
Matthew.Dauksza@Prudential.com
Tel 315-446-1515
CA Insurance License Number 0H08607
Fax 315-445-1821
Matthew.Dauksza@Prudential.com
CA Insurance License Number 0H08607
The Prudential Insurance Company of America, Newark, NJ
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities.
0204476-00001-00
The Prudential Insurance Company of America, Newark, NJ
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities.
0204476-00001-00
The Prudential Insurance Company of America, Newark, NJ
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities.
0204476-00001-00
The Prudential Insurance Company of America, Newark, NJ
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities.
0204476-00001-00
The Prudential Insurance Company of America, Newark, NJ
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities.
0204476-00001-00
Milt Hill, CLU, ChFC, CLTC
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your client’s livelihood when
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Gary Cappon, CLTC
The Guardian DI Team of AAG is proud to provide Disability Insurance services to Upstate NY Brokers and Producers.
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Disability income products underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY. or provided by
Guardian. Product availability, provisions and features may vary from state to state. Optional riders are available an additional premium. Milt Hill, Registered Representative of Park Avenue Securities, LLC. (PAS), 600 Delaware Ave, Buffalo, NY 14202.
Securities products and services offered through PAS, (716) 817-7109. Financial Representative, The Guardian Life Insurance Company of America, New York, NY. PAS is an indirect , wholly owned subsidiary of Guardian. Gary Cappon, Financial
Representative, The Guardian Life Insurance Company of America (Guardian), New York, NY. Alliance Advisory Group is not an affiliate or subsidiary of Guardian.
PAS is a member of FINRA,
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The Evolution of Underwriting
The underwriting process has come a long way, especially in the past 10 to 15 years. Thanks to technology and the change in
the general business climate, what was once a very paper- and time-intensive effort has moved to enable the passing of
information within minutes. We also now have the abilities to design products with more bells and whistles than ever
imagined. This capacity to access information at a moment’s notice has also shifted consumer’s expectations. People no
longer like to wait; they expect a near-immediate response for everything. As we embrace this new, current world of instant
information and more sophisticated risk assessment, what does the future of underwriting hold?
Automated underwriting
As companies look to drive efficiency, lower cost, take advantage of new technology and drive consistency, straight-through
processing and variations thereof will likely continue to be the focus over the next few years. With straight-through
processing, data is put through an automated rules engine that checks the application, takes in data from various data inputs,
and determines, through an algorithm, the decision or serves as a prescreen and presents any outliers to the underwriter for
review.
Changes in underwriting requirements
As we continue to learn more, analyze more and have more information, we will continue to adjust our requirements.
This also comes with new medical research and enhanced treatment programs for diseases and health issues. According to
the Society of Actuaries 2011 New Business Process Survey, most carriers (75 percent of those surveyed) have
changed requirements in the past two years, with a vast majority (80 percent) becoming more liberal and less invasive.
Medical record retrieval
Online medical record storage will improve speed and allow insurers to access medical information directly from the medical
provider. Those who review the Attending Physician’s Statements (APS) to better understand a client’s particular medical
situation and also work to position it with the carrier (along with more privacy regulation) this will further restrict the
underwriter’s ability to share this information with you.
Pharmacy database checks
The prescription database check now provides the names of medications the applicant is using, how often the medications
are filled and the prescribing physician. It helps underwriters verify medications, determine the degree of compliance, root
out misrepresentation and uncover omissions. It’s a great tool that can help expedite the process by providing enough
information for the underwriter to avoid the APS; it also can uncover situations that may be less favorable for the client.
Predictive modeling
The use of predictive modeling has gained attention and will be a factor in underwriting assessment. The premise is that by
analyzing data systematically and tracking historical outcomes, you can create predictive models and apply the information
to current applicants and classify risks accordingly.These models have the potential to be faster, better and
cheaper than traditional underwriting methods, and thus offer a better client experience.
How can you prepare?
Underwriting is fast becoming more science and less art. It is expected that the next decade will introduce new
approaches to risk evaluation, including less traditional data elements, statistically rooted analytics and less invasive
techniques. So, stay current and informed about the macroenvironment; get “techy” and make your business model fluid to
change with the times; think about how your clients are changing the way they work, communicate and build relationships.
While it’s widely stated that insurance is sold, not bought, how it’s sold must change with the times.
Karen M. Phelan, FLMI, has more than 20 years of experience in the insurance industry. She began her career as an
underwriter and subsequently moved into leadership roles in producer marketing, customer service and brokerage
underwriting. Before departing as corporate vice president of life underwriting in 2012, she received the President’s
Leadership Award and was named the Agents’ Advisory Committee’s MVP. Phelan’s entire presentation is available for
purchase in the MDRT store at www.mdrt.org.
Million Dollar Round Table
Phone: +1 847.692.6378 | Fax: +1 847.518.8921 | Website: www.mdrt.org
NAIFA-Syracuse welcomes the following NAIFA member who has transferred into our
Association - Neil S. Campbell, ChFC, CLU, CLF of State Farm.
***
A HUGE THANK YOU TO OUR FEBRUARY MEETING SPONSOR
NEW YORK LONG TERM CARE BROKERS
***
NAIFA-Syracuse 100% Agency Membership Award
In order to qualify for this NAIFA-Syracuse Award, all agents in an agency, contracted
prior to September 1, 2012 must be PAID members of NAIFA prior to March 1, 2013.
A special presentation and recognition of this award will be held at the June 20, 2013
breakfast meeting.
***
SALES CONGRESS 2013
We have an exciting program planned for Sales Congress on Friday, March 15.
Watch for a flyer in your e-mail in the next few days with all the details.
***
VISIT OUR WEBSITE AT www.NAIFA-Syracuse.org
Happy
Valentine’s Day
ADVERTISING POLICY
NAIFA-Syracuse realizes that its members are fully aware of their individual contractual and moral obligations. We
publish limited advertising in our newsletter from various companies and agencies to keep our entire membership
informed. Our advertisers are fully aware that an agent’s own company agency is his/her primary source and that
serving his/her clients is the agent’s primary responsibility. Our advertising policy reflects this awareness.