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The great paid-up option

Article Abstract:

Insurance agents need to increase their familiarity with paid-up options for premiums, such as the paid-up nonforfeiture option and the paid-up dividend addition, because these options are valuable to clients but often misunderstood. Common presentation of these options as paying for themselves is inaccurate and misleading so offering the availability of paid-up status is better for all concerned. Some forms of the paid-up options include having a limited-payment period for a whole life policy, using dividends to buy quantities of insurance and reducing the value to attain paid-up status.

Interpretation and construction

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What every insurance professional needs to know about limited liability companies

Article Abstract:

Insurance agents need to understand the limited liability company (LLC) status to accurately evaluate policy needs and opportunities and to explore the value of this status for the insurance agency. LLCs are becoming a common entity form since the IRS clarified the tax position but some states still bar insurance sellers from becoming LLCs. The laws need to be carefully analyzed to determine whether a particular LLC actually has the legal status necessary to be bound to a contract and whether the LLC law allows the company to purchase certain insurance types.

Analysis, Laws, regulations and rules, Limited liability companies

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Focus on nonmedical group benefits

Article Abstract:

Many insurance companies selling both medical and nonmedical products are concerned by the trend toward managed care products that requires a significant capital and time investment. However, an alternative is to divest the medical products in favor of the nonmedical products that, though they do not have the former's high growth potential, can provide reasonable growth without major expenditures. This decision requires a company to be strong in its nonmedical products but to have growth potential in that area made possible by concentrating its resources.

Management, Product information

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