NAIFA's Advisor Today January/February 2017 Edition

JANUARY/FEBRUARY 2017

COVER STORY

Working with Business Owners Is as Easy as 1-2-3!

Here is a three-step process that helps keep you focused and on track when developing business life insurance cases.

–David Szerem

FEATURE

Navigating Planning Issues in 2017

Life insurance can be a key part of any needs-based discussion of estate and family business planning with your clients.

–Brett W. Berg

departments

A QUESTION OF ETHICS

My View, the Client’s View or Both?

PRACTICE SPECIALTIES

The ethical point is not to compromise the recommendation but to recognize the value of your client’s position, as well.

–Frank Bearden

MANAGING YOUR PRACTICE

Three Easy Ways to Save Time

Learn to manage expectations, leave detailed voicemails and complete the subject line of your email message last.

–Levi Landau

FINANCIAL PLANNING

Helping Women Navigate Their Financial Planning Journeys

The steps outlined in this article will guide you as you work with your female clients to develop strong financial plans.

–Delynn Dolan Alexander

DISABILITY INCOME INSURANCE

Growing Your IDI Practice

PRODUCT SPOTLIGHT

Use the tips and techniques offered by this industry expert to move your practice to the next level of success.

–Ayo Mseka

MEDICARE

Want a Ton of Referrals for Your Medicare Practice?

Then make yourself “wanted” by your clients.

–Elie Harriett

PROSPECTING

How to Get High-Net-Worth Clients

SALES AND MARKETING

Start by mingling with the great and the good and joining a professional organization.

–Bryce Sanders

SALES IDEAS

Boosting Retention and Profits by Wowing Your Customers

An ongoing appreciation program can help you retain existing clients by exceeding their service expectations.

–Mike Morrow

Top Sales Ideas from a TOP Producer

Use these three sales ideas to move your practice to the next level of success.

–Shane Westhoetler

in every issue

FROM THE EDITOR VIEWPOINT

NEW PRODUCTS

NAIFA GOVERNMENT RELATIONS

NAIFA NEWS

ADVERTISER INDEX

BACK PAGE

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Call For Nominations for the 2017 JNR Memorial Award and the 2017 Advisor Today Four Under Forty Awards

Help NAIFA honor its best and brightest by nominating outstanding members for the 2017 John Newton Russell Memorial Award and the 2017 Four Under Forty Awards.

For the JNR Award, visit www.naifa.org, click on the John Newton Russell Memorial Award box, and fill out the form. You can also complete the form on Page and mail it to the address listed on the form.

For the Four Under Forty Awards, complete the form on Page , and send it to the fax number or the mailing address listed on the form. Or you can nominate someone online by visiting www.naifa.org or www.advisortoday.com

on the WEB

The Advisor Today Blog

Available at www.AdvisorToday.com

The Advisor Today Blog brings you the tools, ideas and techniques you need to build a successful practice. Fresh content is posted regularly, and we welcome your feedback and ideas in the comments section.

We look forward to hearing from you!

web poll

How do your opinions stack up against those of other NAIFA members? To zero in on the topic of this issue’s web poll and find out, answer this question at www.AdvisorToday.com: What market segment constitutes the bulk of your financial practice?

• Boomers and seniors

• The middle market

• Business owners

• High-net-worth individuals

• Families with special needs

Answer this question at www.AdvisorToday.com .

social media

Join the conversation via Facebook, Twitter and LinkedIn. Simply log on to www.naifa.org and click on the social media icons.

ADVISOR TODAY

Editor-in-Chief

Ayo Mseka; amseka@naifa.org

703-770-8204

Publication and Circulation Coordinator

Tara Laptew; tlaptew@naifa.org

703-770-8207

NAIFA

Kevin Mayeux, Esq., CAE, CEO kmayeux@naifa.org; 703-770-8101

Michael Gerber, COO & General Counsel mgerber@naifa.org; 703-770-8190

Diane Boyle, SVP, Government Relations dboyle@naifa.org; 703-770-8252

John Boyle, AVP, Professional Development & Education jboyle@naifa.org; 703-770-8267 Magenta Ishak, VP, Political Affairs mishak@naifa.org; 703-770-8152

Jennifer Cassidy, VP, Finance jcassidy@naifa.org; 703-770-8125

Sheila Owens, VP, Communications and Marketing sowens@naifa.org; 703-770-8112

Diane Powers, VP, Professional Development and Education dpowers@naifa.org; 703-770-8226

Mark Rogers, VP, Information Services mrogers@naifa.org; 703-770-8130

Brian Steiner, VP, Business Development & Strategic Partnerships bsteiner@naifa.org; 703-770-8220

Gary Sanders, Counsel and VP Government Relations gsanders@na a.org; 703-770-8192

Michele Grassley Clarke, VP, Membership and Association Services

NAIFA OFFICERS

President

Paul R. Dougherty, LUTCF, FSS, HIA, ALHC State Farm Insurance Companies paul@doughertyagency.com

President-Elect

Keith Gillies, CFP, CLU, ChFC Ameritas kmgillies@aol.com

Secretary Jill Judd, LUTCF, FSS State Farm Insurance Companies jill.judd.jyt0@statefarm.com

Treasurer MatthewTassey, CLU, ChFC, LUTCF Burwell & Burwell mtassey@scribnerinsurance.com

Immediate Past President

Jules O. Gaudreau, Jr., ChFC, CIC The Gaudreau Group, Inc. julesgaudreau2@gmail.com

CEO Kevin Mayeux, CAE kmayeux@naifa.org

Trustees

David A. Beaty, CLU, ChFC dave@heartlandfinancial.net

Aprilyn Geissler ageissler@farmersagent.com

Todd G. Grantham, CFP, CLU, ChFC, MSFS todd.grantham@nm.com

Bryon A. Holz, CLU, ChFC, LUTCF, CASL bryon@bryonholz.com

Brock T. Jolly, CFP, CLU, ChFC bjolly@financialguide.com

Booker Joseph, CLU, ChFC, FLMI Bookerjoseph@uhc.com

Delvin Joyce, CLU, ChFC delvin.joyce@prudential.com

Thomas O. Michel tmichel@michelfinancial.com

Charles M. Olson, CLU, ChFC Charles@ociservices.com

Cammie K. Scott, LUTCF, REBC, RHU cscott@ckharp.com

Greg Toscano, LUTCF Johnson Insurance Consultants

gttoscano@yahoo.com

NAIFA SERVICE CORPORATION OFFICERS AND DIRECTORS

President

Kevin Mayeux, CAE

Secretary

Paul Dougherty, LUTCF, FSS, HIA, ALHC

State Farm Insurance Companies

Treasurer

Matthew Tassey, CLU, ChFC, LUTCF

Scribner & Scribner

Directors

Brenda Doty, LUTCF, RHU, CLU,CPC

The Doty Group, Inc.

Connie Golleher, CLTC

The Golleher Group

Susan Wier, CFP, ChFC, LUTCF

First American Trust

EDITORIAL ADVISORY COUNCIL

Laurie A. Adams, CFP, CLU, LUTCF

Country Insurance & Financial Services

Brian Ashe, CLU

Brian Ashe and Associates, Ltd.

Frank Bearden, Ph.D., CLU, ChFC

Frank C. Bearden, Ph.D., Consulting

Kevin Faherty, LUTCF

Faherty Insurance Services, Inc.

Greg Gagne, ChFC, LUTCF

Affinity Investment Group, LLC

Lisa Horowitz, CLU, ChFC

LifeCycles

Michael Lynch

Metlife

John Marshall Lee, CLU, CFP, RHU

People Insurance & Investments

John Nichols, MSM, CLU

Disability Resource Group Inc.

Ike Trotter, CLU, CASL, ChFC

Ike Trotter Agency, LLC

PUBLISHED BY

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Editor: Tamára Perry-Lunardo

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Marketing: Sabine Borneman

Advertising Sales: Debbie Phillips, Paul Walley, Matt Wooten

Published January 2017/NAI-S0117/3219

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NAIFA’s Advisor Today (ISSN 1529-823X) is published bi-monthly by the National Association of Insurance and Financial Advisors Service Corporation, 2901 Telestar Court, Falls Church, VA 22042-1205. Telephone: 703-770-8100. © 2016 National Association of Insurance and Financial Advisors Service Corporation. All rights reserved.

Subscriptions: The annual subscription rate for individual non-NAIFA members is $50; institutions, $60. The international subscription rate for non-NAIFA members is $100 per year.

from the editor

By Ayo Mseka

Achieving Next-Level Growth

Last September, I received an article that did not make it in time for one of my numerous deadlines, but it is quite on time and on-message for my first letter of the year to you.

The article, written by Anthony Boquet, CLU, ChFC, CASL, CLF, LUTCF, FSCP, withThe American College, tells the story of a couple — Jim and Susan — who had built a multi-million dollar a year enterprise over the years. During the early years of his career, Boquet had handled their P&C protection.

Early on, Boquet had attempted to help the couple with their other insurance needs, but they insisted that a close friend of theirs was their life insurance agent. They felt this agent was advising them appropriately and wanted to help him out. So Boquet never mentioned the subject again.

Three years after their business expansion, Jim died unexpectedly in an automobile accident one stormy evening. At Jim’s funeral, Boquet listened to some of the guests as they wondered what would happen to Susan since the couple never had much life insurance. Boquet was sick to his stomach when another guest said that Susan would be fine because the couple had been good friends with the other agent, “the big insurance guy in town.” The guest insisted, “I’m sure he would have made sure that Jim was well covered.”

Boquet was dismayed because, after his initial attempt to get the couple to buy life insurance, he had not made another serious effort to review their life insurance needs. “I could have done much more and I didn’t,” he wrote. “I had all the knowledge needed to help them, but I did not apply it wisely when I should have. I let them down when they needed me the most.”

Applying your knowledge in 2017

This year, as you attempt to use what you know to protect your clients from life’s many uncertainties, keep in mind the following lessons Boquet learned from his experience:

• All the education and experience in the world are of little value until you put them into action in solving problems in a selfless and moral manner.

• It is OK to upset someone’s feelings by sharing the truth with him, especially when the truth can protect him or those he loves from tremendous pain or harm.

Be persistent in using what you know to educate and guide your clients, and success will be yours in 2017 and beyond. Happy selling! yppy

By Kevin Mayeux, CAE

Up to the Challenge

Happy New Year from your friends and colleagues at NAIFA! I hope everyone had a joyful and restful holiday season. While the beginning of 2017 provides us with an opportunity to reflect on our successes of the year gone by, NAIFA remains focused on the hard work ahead and the many things still to be accomplished. Nowhere is this more evident than on the advocacy front. The past year brought us a challenging new Department of Labor fiduciary rule. In spite of NAIFA’s efforts, which mitigated several of the draft rule’s troubling and unworkable restrictions, the final rule still places undue burdens on advisors, companies and their clients. NAIFA has teamed up with the ACLI to challenge the rule in court. We are pursuing opportunities to work with the new Congress and the Trump administration to reverse its harmful consequences and to put in place meaningful public policies to ensure the continuation of affordable access to financial guidance for individuals preparing for retirement.

While the DOL rule was at the top of everyone’s mind in 2016, NAIFA scored a number of other political advocacy successes. Along with state NAIFA associations, we were able to head off legislation in a number of states that would have created state-run retirement plans to compete with existing, successful private plans. NAIFA actively worked with members of Congress to craft the Senior $afe Act, which allows advisors to act on suspicious activity that may indicate fraud against their older clients while protecting advisors from undue liability. NAIFA also worked in 2016 to see that the traditional definition of “small health group” was restored and the 40 percent excise tax on health plans was delayed.

As with every new year, 2017 will bring its share of opportunities and challenges. The new Congress and the Trump administration promise to review the regulatory environment of our industry. The Dodd-Frank Act, DOL Fiduciary rule and Affordable Care Act are among the laws and regulations likely to face scrutiny. With Republican majorities in both houses of Congress and a Republican president in the White House, federal tax reform is more likely than at any time in recent memory. NAIFA exists to ensure that advisors and our industry have a powerful voice to influence policy decisions at both the federal and state levels that will affect every company and advisor, as well as the hundreds of millions of Americans who count on our products and services.

While we have a new Congress and administration, NAIFA’s advocacy mission remains clear as always: to work for the best legislative and regulatory outcomes for our members, their clients and the industry as a whole. NAIFA’s professional staff is in regular contact with federal policymakers. They and our volunteer leaders are working tirelessly to ensure we have legislative contacts for each member of the new Congress. (If you know a member of Congress, or are aware of another NAIFA member who does, please let us know about it.) I recently attended a briefing of financial-services industry leaders by President Donald Trump, and NAIFA will be fully engaged with the new administration on behalf of our members.

Planning for our May 23–24 Congressional Conference, NAIFA’s premier grassroots advocacy event, is well under way, and registration is set to open soon. Ever-present membership initiatives and collaboration with corporate and industry partners ensure that NAIFA maintains the clout needed to help shape policy. IFAPAC, NAIFA’s national political action committee, was the largest contributor to federal candidates in the insurance industry in the 2016 election cycle. I am proud to report that 100 percent of NAIFA-National’s eligible staff participated as IFAPAC contributors in 2016.

NAIFA is in for a busy 2017, but we are up to the challenge. Our members are among the most dedicated professionals on earth, looking out for the interests of their clients, bolstering small businesses and providing financial security for 75 million American families.

That is a powerful motivating force for those of us at your national association working to help you find success in 2017 and beyond.

Kevin Mayeux, CAE, is CEO of NAIFA. Contact him at kmayeux@naifa.org

new products

Whole Life Policy with Early Cash Value Makes its Debut

Mutual Trust Life Insurance Company, a Pan-American Life Insurance Group Stock Company, has introduced Horizon Value participating whole life insurance. Horizon Value’s guaranteed cash values and competitive, non-guaranteed dividends grow rapidly and tax deferred, producing one of the best early cash value guarantees in the industry, according to the company. Policy owners have access, liquidity and control of this money throughout their lives through policy loans and by withdrawing values generated by dividends.

In addition to introducing Horizon Value, the company also increased the dividend scale on its single paid-up additional insurance (PUA) rider. Also, on its Flex Pay PUA Rider, it not only increased the dividend scale, it also extended the time it allows premiums to be paid to age 90, which can help with legacy and retirement planning.

“Following the announcement in late September that A.M. Best upgraded Mutual Trust’s financial rating to ‘A’ Excellent with a stable outlook, the introduction of Horizon Value is the next exciting chapter for the company,” explains Luke Cosme, Mutual Trust’s Senior Vice President, Chief Sales & Marketing Officer. “The significantly increased dividend scale and improved flexibility of our PUA riders make Horizon Value one of the most competitive participating whole life products available in the market today, all with the industry leading liquidity, access and control that agents and clients have come to expect from Mutual Trust.”

For more information, contact the company’s Sales Development Team at 800-323-7320, ext. 5140, or at SalesDeveloment@mutualtrust.com.

New Annuity Option Helps People Secure Their Future

In response to the need for greater flexibility for owners of qualified assets, Massachusetts Mutual Life Insurance Company (MassMutual) has expanded its deferred income annuity product offering by making it available as a qualified longevity annuity contract (QLAC).

A QLAC is a deferred income annuity offered by an insurance company that allows distributions to begin after age 70 ½. Approved in 2014 by the IRS and the U.S. Department of the Treasury, new rules allow owners of qualified assets to delay receiving distributions from the assets in a QLAC up until a maximum age of 85; once distributions begin, all standard RMD rules apply.

Because of strict IRS limits on how a QLAC can be established and funded, this option isn’t right for everyone. However, when it is set up and maintained correctly, a QLAC may help the owner to:

• Supplement Social Security retirement benefits or pension benefits with a predictable stream of future income.

• Transfer some of the risks associated with longevity to the insurer. Future income is guaranteed, no matter how long the owner lives or what happens in the financial markets.

• Manage RMDs and plan for expenses that may become a priority later in retirement (such as increased health care costs).

“No matter how you envision retirement, having the freedom to live life your way will depend, at least in part, on having a secure source of income you cannot outlive,” said Craig Waddington, actuary and head of retail solutions deployment at MassMutual. “Although no one can predict the future with 100% accuracy, there are steps you can take today to prepare for a more secure and comfortable future, no matter how long your retirement lasts.”

A New and Improved Term Product

American International Group, Inc. announced recently that it has repriced and further enhanced Select-aTerm, the term product issued by American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (US Life).

Select-a-Term now offers reduced, market-leading rates; 18 term durations, including a new 35-year term; a new, lower band (policies with face values from $50,000–$99,999 available for standard-class underwriting); and a highly competitive conversion credit feature.

“With its new, market-leading rates and enhanced flexibility, Select-a-Term is designed to offer clients undeniable value and utility,” said Rod Rishel, Chief Executive Officer of Life, Health and Disability, AIG Consumer Insurance. “In a time when many consumers and businesses still lack the protection of life insurance, this product offers the opportunity for them to gain the amount of coverage needed at affordable rates.”

Select-a-Term offers a unique combination of flexibility and reach: guaranteed level term coverage for the new 35-year duration or popular 10-year and 15- through 30-year terms. The breadth of coverage is designed to help clients tailor their life insurance policies to their specific needs; in fact, the company points out, the issue ages and durations make coverage available until age 95 for some clients. For the new, lower band of Select-a-Term policies ($50,000–$99,999 in standard class), non-medical underwriting is offered up to age 59. Only medical history is required; no medical exams are needed.

Select-a-Term is fully convertible to a permanent life insurance policy up to the end of the level-premium period or age 70 of the insured, whichever comes first. The product offers extended conversion eligibility to the full suite of permanent life insurance contracts from AGL/US Life for the first 10 years of term durations of 15 years or longer. Furthermore, while most other term life policies do not offer conversion credits, Select-a-Term’s new conversion credit feature allows for a portion of the term premiums to be applied to the new permanent life insurance policy, according to the company.

For more information, visit www.aig.com/termlife.

Candidate Nomination Form 2017

Candidate NominationForm

Supporting Data:

Please explain why the nominee should be considered for a Four Under Forty Award. Explain how the nominee made it to the top and the obstacles, twists and turns he or she overcame on the way tosuccess. The more compelling the story, the better. Also indicate if the nominee is a member of MDRT or any other industry association, and describe any industry and civic honors received.

Three Ways to Nominate

1. Mailthisform,alongwiththesupportingdata,to: Advisor Today’s Four Under Forty 2901 Telestar Court Falls Church, VA 22042

2. Fax it to: “Four Under Forty”at 703-770-8471.

3. Email this completed form toamseka@naifa.org.

Entries emailed or faxed must be received no later than April 7, 2017. Mailed entries must be postmarked by April 7, 2017. Nominations not received or postmarked by April 7, 2017,will be discarded.

For more information, contact Ayo Mseka at 703-770-8204 or at amseka@naifa.org.

By Frank C. Bearden, Ph.D., CLU, ChFC

My View, the Client’s or Both?

The ethical point is not to compromise the recommendation but to recognize the value of your client’s position, as well.

In the 43 years that I have been involved in selling life insurance, I have repeatedly been faced with a dilemma that I thought had two points of view: mine and the client’s. Developing client proposals usually resulted in dealing with these two views. However, I slowly learned there weren’t two points of view, but three: my view, the client’s view and both. Let me explain and provide an example, as there is an ethical point involved.

Proposals for additional life insurance invariably generate some resistance from the person receiving the proposal. Maybe the individual is not comfortable about thinking of his mortality, maybe the concern is more about affordability, or there may be other factors involved. The financial advisor, in trying to think for the benefit of the client, is concerned about providing financial relief for the myriad problems the death of the client can bring. This tends to be not so much an impasse as a spirited discussion with initially different points of view. What is the ethical thing to do in these times? Let’s consider an example that is a composite of many situations shared with me by advisors over time.

A case in point: John and Alice are an early middle-aged couple with three active children. John and Alice have good positions with two technology firms, and both have gone through downsizings and the search for new positions. Mary is their financial advisor. She attempted to make the point in the last annual review that John and Alice should increase their personal life insurance, as they have many years of family responsibility ahead, with college expenses on the horizon. She performed a needs analysis for John and Alice to quantify the concern she expressed. Then she prepared appropriate life insurance recommendations. These can be taken as Mary’s point of view in the recommendation discussion.

As intelligent and responsible people, John and Alice were attentive to the recommendation until they considered the premium expense. The premiums were affordable but seemed like a large expense just as they were planning for a family vacation and filing their income taxes. So they told Mary they wanted to wait until these two hurdles were over and then they would reconsider the recommendations. Mary stressed the importance of resolving the issue before the trip, due to the severity of the consequences of an unexpected death. Nonetheless, they persisted, and this can be taken as the client’s point of view.

This story ends not in the way we would want it to, but with John and Alice filing their taxes and going on an enjoyable family vacation. When they returned, Mary called for an appointment to review the insurance proposals, and her clients were somewhat receptive. John and Alice agreed to apply for level term insurance rather

than the whole life and term proposals originally presented.

Mary was somewhat disappointed, as she thought both clients had an important opportunity with the whole life policies due to their excellent health history that could change. Nonetheless, term insurance it was, and the amounts of coverage recommended by Mary were accepted, applied for and issued. This can be taken as the combination of both points of view.

To explain more about the client’s view, John and Mary were about to pay off a large income tax obligation to the IRS, and they had avoided any vacation during the past five years to pay on the obligation. They were embarrassed by the tax obligation and did not mention it or the importance of this investigation. This does not necessarily justify their decisions, but it does explain them.

The life insurance that can do its work is that which is in force. A successful placement of life insurance is usually the result of the advisor and the client getting to the third viewpoint, which acknowledges the value of the advisor’s recommendation as well as the client’s position to arrive at a kind of blended viewpoint involving both. The ethical point for a financial advisor is not to compromise the recommendation, but to seek to recognize the value of the client’s position as well, with the active possibility of untold elements, so that a remedy that will provide the needed protection can be found.

Frank C. Bearden, Ph.D., CLU, ChFC, is managing member at Ethics Consulting. Contact him at fbearden@outlook.com or at 210724-1958.

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The life insurance that can do its work is that which is in force.

By Levi Landau

Three Easy Ways to Save Time

Learn to manage expectations, leave detailed voicemails and complete the subject line of an email message last.

Each of us gets 24 hours a day. That’s it. We can’t buy or create more time. The only thing we can do is to make better use of the time we’re given. In fact, you could say that time management is a crucial differentiator between great and mediocre financial professionals. The great ones understand how to best manage their most precious and limited commodity.

The art of time management happens incrementally. You don’t change one thing and suddenly become ultraproductive. Rather, you become more efficient by making small adjustments that cumulatively add to a dramatic difference.

Here are three “small adjustments” that have made a great impact on my day — maybe they’ll work for you too.

Adjustment #1: Practice the fine art of managing expectations. A few years ago, a friend explained this concept to me and it changed my professional and personal lives. Use this skill with your clients, your spouse and even your kids.

The premise is this: You can deliver exactly the same result to two people and their satisfaction levels will dramatically differ. One person will be thrilled and the other will be disappointed. How can the same result yield such different reactions for different people? It comes down to one thing: the expectation of the person served.

Satisfaction doesn’t exist independently. It is the product of expectation. If you deliver more quickly or better than expected, satisfaction will be high; if you deliver more slowly or less than expected, satisfaction will be low. The problem is that we often operate without a benchmark. We don’t ask enough questions about the client’s expectation to know if we can deliver. Conversely, we often don’t take the time to manage their expectations so that our results have a chance of achieving satisfaction.

Here’s an example: If a client asks me for a policy value statement, I have two choices: I can say, “Of course, we’re happy to help. We’ll get that for you right away.” The client then sits at his keyboard, refreshing his email every 10 minutes to see if the new statement has arrived. When it arrives two days later, he’s smoking mad.

Or, I can say: “Of course, we’re happy to help. This process usually takes about three days because we need to reach out to the carrier and have them prepare a current statement for you. And of course, we’ll need to work your request into their production queue. Will three days meet your needs, or do you want me to see if they can expedite the turnaround time?” The client responds that three days will be fine, and when the statement arrives two days later, he is thrilled.

See the difference that expectation setting can make? This seems simple, but it can have monumental implications for your business. When the client is happy and satisfied, you feel more confident and effective. The

client expects you to perform well; so the stage is set for future wins and for glowing referrals.

Conversely, in the first choice, a downward spiral ensues. The client is mad. You’re not expecting him to be mad; so you’re off your game. He now expects you to mess up in the future, which makes you nervous and more apt to stumble. Even though this is a small miss, he complains to his wife and she tells everyone in her office. So much for referrals!

The key is to build expectation-setting into every aspect of your life. Do this with your team when you give assignments and teach them to manage your expectations. It creates more harmony with your spouse and your children, too.

Adjustment #2: Leave action-oriented voice mail messages. I heard this seemingly simple tip about how to leave a voicemail message at a conference. It turned out to be life-changing. We work in a personal business that requires a lot of phone time. Email may be more efficient, but some clients don’t regularly check their messages, and there are some topics that are too personal for email. So we use the phone, and phone tag inevitably ensue.

Here is how to leave a voice mail message that is not action-oriented: On Monday you call Joanne and ask her to call you back at her convenience. On Thursday, Joanne returns your call and asks you to call her back when you have time. On Friday, you call again and leave another message.

Here is how to leave one that is action-oriented: On Monday, you call Joanne and say, “Joanne, this is John Smith. I’d like to schedule an appointment with you to review your life insurance options on Tuesday, May 15 at 2:00 p.m. I’m happy to stop by your office. Please call me back to confirm or propose another time.”

On Tuesday, she calls you back: “John, this is Joanne. I received your message and Tuesday, May 15 at 2:00 works great for me. I look forward to seeing you at my office.”

See the difference? If you leave a detailed, action-oriented message, your clients will respond more quickly than if you don’t, and they will respond with more detail. The voicemail becomes a vehicle of efficiency, more like email. With action-oriented voice messages, you can finally stop chasing your tail.

Adjustment #3: Come back to the subject line when sending email messages. Often, when we begin to write an email message, we waste time in formulating an appropriate subject line. Writing the subject is challenging because it forces us to summarize a message that we have not written yet. I find it more efficient to skip the subject line and the address line and write the message first. Only when the message is completed to my satisfaction do I complete the address and subject lines.

When you write the subject line first, it controls the message. When you write the message first, it controls the subject. With no subject to dictate the content, the message is easier to write. And with the message already written, the subject line is obvious and easy to write. This method also eliminates the risk of accidentally sending the email message before you are ready.

Levi Landau is a Principal and Advisor at SimkowitzCo in Brooklyn, New York. He and his team strive to consistently exceed client expectations at every step of the financial and estate-planning processes. For more information, visit www.simkowitzco.c om. (Simkowitz & Co. does not provide tax, legal, or accounting advice).

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The key is to build expectation-setting into every aspect of your life.

Call for Excellence

The John Newton Russell Legacy

Outstanding Character, Dedication to the Profession, Meritorious Service

Do you know anyone who possesses these outstanding qualities? If you do, now is the time to submit his or her name for the John Newton Russell Memorial Award. This is the industry’s highest honor.

In 1945, John Henry Russell provided the original endowment to establish this prestigious award to honor his father, John Newton Russell. A staunch proponent of informed, ethical marketing practices, Russell was agency manager for Pacific Mutual. He served as president of NALU (now NAIFA) during World War I and was one of the incorporators of The American College of Life Underwriters. His high standards are perpetuated in this award, which seeks to recognize someone with outstanding personal qualities, unstinting loyalty to the business and exemplary leadership.

Eligibility requirements

The award program is open to anyone you believe is highly qualified, and exhibits the character, leadership qualities, contributions to the profession and American families exemplified by John Newton Russell. Any member of a NAIFA local association is eligible to

nominate a worthy candidate. Nominees must be insurance and/or financial-services professionals. Standards for consideration are extraordinarily high. The characteristics of past recipients have included unwavering loyalty and a high level of professional accomplishment and community service.

How to apply

When you send in your nomination, provide the award selection committee with sufficient information about your nominee and explain the basis for putting forward the person you chose. Nominations will be accepted through February 6, 2017. Your nomination contains the only information the selection committee will have as a basis for their decision, so please be thorough in your description.

The 2017 recipient will be announced in early May and will be honored at the NAIFA Performance + Purpose Conference in Orlando, Florida in September 2017.

Follow the instructions of the application form on the next page and submit it by the deadline indicated. Membership in your local association is required for participation in the award program.

The 2017 John Newton Russell Memorial Award Selection Committee

John F. Nichols, MSM, CLU Chair

Peter C. Browne, LUTCF

2015 John Newton Russell Honoree

Sy Sternberg, CLU

2014 John Newton Russell Honoree

Jules O. Gaudreau, Jr., ChFC, CIC Immediate Past President, NAIFA

Juli Y. McNeely, LUTCF, CFP, CLU Second Past President, NAIFA

Chris M. Foster, CLU, CHFC, CFBS, AEP AALU Liaison

Gov. Dirk A. Kempthorne ACLI Liaison

Robert R. Johnson, Ph.D, CFA, CAIA

The American College Liaison

Cliff Wilson, CLU, ChFC, CLF, LUTCF LIFE Liaison

Anthony R. Bartlett, ChFC, CASL, AEP SFSP Liaison

Mark Hanna, CLU, ChFC MDRT Liaison

Robert A. Kerzner, CLU, ChFC LIMRA Liaison

Kevin M. Mayeux, Esq., CAE, CRMA Secretary

Recommendation

for the 2017 JOHN NEWTON RUSSELL MEMORIAL AWARD

Recommendation

In my opinion, the following living person has rendered service to the institution of life insurance which, viewed in retrospect, is so outstanding and beyond the call of duty as to merit consideration for the John Newton Russell Memorial Award.

Name _____________________________________________________________________________________

Volunteer position __________________________________________________________________________

Address ___________________________________________________________________________________

Phone number and email ____________________________________________________________________

Supporting Data

On a separate sheet of paper, in 500 to 800 words, give a biographical sketch of your candidate, listing the individual’s industry and civic accomplishments and honors received. Please indicate the specific accomplishments that, in your opinion, demonstrate that your nominee deserves the award.

Nominator _________________________________________________________________________________

Volunteer position __________________________________________________________________________

Address ___________________________________________________________________________________

Phone number and email _____________________________________________________________________

Mail this form to:

John Newton Russell Award Committee

c/o Executive Office

National Association of Insurance and Financial Advisors

2901 Telestar Court Falls Church, VA 22042-1205

Supporting data must accompany the nomination. Deadline: Feb. 6, 2017.

Growing Your IDI Practice

Use the tips and techniques offered by this industry expert to move your practice to the next level of success.

In recent years, the individual disability income (IDI) market has experienced steady growth as employees across the nation have become more knowledgeable about the negative effects that a disability can have on their incomes. In this interview, industry expert Dawn McMaster describes a few of the trends that are shaping this important market and offers some best practices for boosting your IDI production.

Advisor Today: What is the size of the DI market in the United States and what is its rate of growth?

Dawn McMaster: The individual disability income (IDI) market has seen steady growth recently, as the unemployment rate has decreased and consumers are more aware of the consequences a disability could present to their ability to earn an income. Because of this, we’ve seen premium increase of about 5% across the industry in the last 12 months. As for the size of the market overall, LIMRA noted that 2015 annualized premium for IDI was more than $563 million.1

AT: What are the trends currently impacting the DI insurance market in general and the IDI market in particular? What can we expect to see in 2017?

McMaster: The DI and IDI markets are both benefiting from an uptick in sales with the improved economy, as the market had been flat for some time due to the recession. Because of this, clients in a number of occupations are more receptive to the concept of income protection insurance and looking into coverage options.

Overall, I think 2017 will be an exciting year for advisors who sell IDI, as the industry is adapting to the MetLife announcement. While MetLife’s suspension of its fully underwritten business left some advisors looking for a replacement carrier, longtime IDI carriers are continuing to make investments in the business and develop new products that can help boost sales. The Standard recently introduced a new product that provides advisors with more flexibility in product design to meet the needs of new clients in need of income protection.

AT: How does IDI insurance fit into a consumer’s overall financial and retirement planning? How can an advisor best explain this to a prospect?

McMaster : IDI is an extremely important component of a client’s financial plan. That’s because the most thorough and comprehensive financial plan will need to evolve as the client’s income does. Advisors really need to make the point that a client’s financial goals could be in jeopardy if they become too ill or injured to work, and analyze how a client’s life stage could impact their coverage options.

For example, I just met with my own financial advisor, who helped point out the balance between IDI and life insurance. While I had enough IDI coverage, she wanted to discuss my disability coverage instead of focusing just on life insurance. Many clients are conditioned to think about life insurance, but aren’t thinking to step back and see the bigger picture of the importance of income protection insurance. For me, my advisor brought this up because my son is in college and I’m in the prime of my career. If I were to lose my income to a disability, it could have a significant impact on my future.

AT: Who are the best prospects for IDI insurance?

McMaster: With insurance carriers developing new policies that can be tailored to a client’s occupation and unique needs, there are a range of client prospects for IDI. These include:

• Professionals in highly specialized professions, including physicians and attorneys

• Physicians and dentists with student loan debt

• Small-business owners

• Young professionals and medical residents

• Professionals in the sandwich generation who want to protect against losing income while caring for a sick or injured family member

These occupations often have larger percentages of income that may not be adequately protected by an employer’s long-term disability policy. Or, if the client is a small-business owner, he may not even have DI insurance and could think that he is adequately covered by workers’ compensation insurance. These clients can also benefit from other features of IDI coverage, including “own occupation” definitions or robust mental and substance abuse benefits.

AT: What are some best practices for approaching clients about buying IDI insurance?

McMaster: I always recommend that advisors bring up income protection insurance as part of every client meeting they have. Many clients have never heard of income protection insurance and may not know this type of DI insurance is even available to them. You don’t want to be the advisor who didn’t ask a client about protecting his or her income, only to have that client become disabled later. Disabilities happen, and not having DI coverage can have a huge impact on a client’s life.

My ex-husband was in a serious accident at age 27, and while we had life insurance at the time, he didn’t have DI coverage. It significantly altered his future and almost ruined us financially. It wasn’t just the injury that had the biggest effect; it was the residual impact of not earning an income and our ability to make ends meet. DI insurance would have provided him with the help he needed to recover, as our family’s expenses would have been taken care of.

Another best practice for advisors would be to not shy away from talking to female professionals. Women are increasingly becoming the family breadwinner and are more often the key insurance decision-maker. Advisors who aren’t approaching female professionals with IDI coverage could be missing a big opportunity.

AT: What are the most effective strategies for addressing common objections to buying IDI insurance?

McMaster: Many clients feel they don’t need IDI because they have group long-term DI insurance in place. I recommend advisors point out that, while it’s a great start, it may not cover the full extent of a client’s salary or set them up for greater financial protection in the future. IDI coverage can replace a larger percentage of a client’s income, provide tax-free benefits and include bonuses and commissions.

AT: What three things would you like readers to take away from this interview?

McMaster: Advisors who are selling — or are interested in selling — IDI can benefit from industry changes that are making it easier to sell an income protection product. New products in the market are including flexible provisions that can help advisors expand their client base and target new prospects. Also, IDI is an attractive product for advisors to sell because of its renewal stream and commission structure. Many term insurance products don’t have a guaranteed renewal stream. IDI products have notable commissions that can pay for more than 10 years.

1. Fourth Quarter US Individual DI Sales Participants Report, LIMRA.

Dawn McMaster is vice president of Individual Disability Insurance, The Standard.

By Elie Harriett

Want to Gain a Ton of Referrals for Your Medicare Practice?

Then make yourself “wanted” by your clients.

For us, an insurance advisor’s dream has come true: Less than 1% of our business leaves us annually.

Whenever the question of loyalty comes up with our clients, the answer is almost always the same: They stay with us because we can and will answer their questions. Our sales presentations are mostly scripted, and we sell a commoditized product. This means Company A is identical to Company B, except for the price. On top of that, our products, unlike life insurance, are primarily sold directly. People buy from newspapers, mail-in, by telephone or online. So if we are not needed to sell our products, we position ourselves to be very wanted.

What it takes to be wanted

The key to being wanted by your clients is to have the answers to their questions. Learn where to find the answers you will need. Medicare is a government-run insurance program. Therefore, virtually every reasonable question a person might have relating to Medicare’s benefits is available in a government publication — either from medicare.gov or ssa.gov.

There are only a few publications you need access to for answering 90% of all Medicare-related questions:

• Medicare and You (current year)

• Choosing a Medigap Policy (no more than 1 year old)

• Your Guide to Medicare’s Preventative Services

• Your Guide to Medicare’s Prescription Drug Coverage

• Understanding the Extra Help with Your Medicare Prescription Drug Plan

With these, you can easily get almost every general Medicare benefits-related question answered for your clients. If I am out of town and handling a client issue, I can look these issues up with a single button press on my phone. Over time, you get to know the top dozen or so questions and can rattle off the answers from memory. Your client will think you’re the irreplaceable resource who has the solutions to their problems.

Encourage them to ask questions

Medicare did us a huge favor by instituting a forced annual review period. They call it the “Annual Election Period” and it runs from October 15–December 7. If you are like every other Medicare-insurance broker out there, it is your “selling season.” Not us. This is our review season. Every year, we call our clients and go over their plans.

Here’s our review: We call them and update their drug list. Then we run it through Medicare and explain any differences to them, recommending a change if it is necessary. This process might take us five minutes. Then our clients will take the next 45 to 60 minutes asking us questions about Medicare, “since they’ve already got us on the phone.” If we had not called them proactively, another agent might have shown up to answer the questions, potentially causing us to lose business. The annual review nips that problem in the bud, and cements us as the “go-to people” for getting Medicare questions answered.

Be accessible

Our clients have our cell phone numbers. They have an office number they can call if they want, and they can always call the insurance company directly. But there is something reassuring, almost magical and loyaltyinspiring, if they have something they don’t understand, call the person who sold it to them in the first place and receive a prompt explanation or resolution with minimal fuss. That is a service your client will treasure forever. Health insurance is an ever-changing labyrinth of regulations and rules. Imagine the stress it puts on your client who doesn’t know half of what you know. If you can position yourself as the go-to advisor — a place where your client, with a simple phone call, can get all his questions answered or he can pass a bill or another problem to you, the professional with his best interests in mind — you will position yourself as the one indispensable advisor for health insurance.

Elie Harriett co-owns Classic Insurance & Financial Services Co., an independent agency specializing in individual Medicarerelated insurance. He is a trustee of NAIFA-Ohio, a former LILI moderator and past-president of NAIFA-Mansfield. Contact him at elie@harriett.us

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The key to being wanted by your clients is to have the answers to their questions.

By Delynn Dolan Alexander

Helping Women Navigate their Financial Planning Journeys

The steps outlined in this article will help you develop strong financial plans for your female clients.

As financial professionals, we equip our clients with the knowledge and tools they need to achieve their goals. However, when providing financial guidance, it’s important to remember that how they interpret and respond to our advice will vary greatly between female and male clients, as well as between married and single women.

To help independent women create solid financial plans, we need to not only understand their personal goals and financial situations, but we also must take into account the unique life circumstances women face.

These include factors such as longevity, the wage gap, caregiving responsibilities, maternity leave (if applicable) and how women define financial success. A recent survey by Northwestern Mutual found six in ten single women say peace of mind from financial obligations is their top priority, compared with single men, who are more focused on professional success as an attribute of the American Dream.

So what can financial professionals do to help women develop strong financial plans?

Address financial anxiety

Northwestern Mutual research found that 91 percent of single women say they feel some level of financial anxiety in their lives, and 72 percent say their anxiety has a negative impact on their health or physical well-being.

We have the opportunity to help women identify the source of financial anxiety in their lives and build a plan to address it. Don’t just ask the money questions. Truly get to know your female clients. Learn about their goals and dreams so that you can help them build a plan to achieve them.

Look at the whole picture

True financial security includes both protecting your income and growing your wealth. A strong financial plan balances these priorities with a combination of risk products like life, disability and long-term-care insurance, saving for retirement and investment strategies.

A personalized financial plan will be as unique as each woman’s situation and goals. Does she want to (or already have) a family? Does she plan to buy a home? At what age does she want to retire? Does she want to spend her retirement traveling? With these insights, you can then showcase how various scenarios can help her achieve her goals.

Instill a “saving” mindset

There are several factors such as longer life expectancies, the gender pay gap and family leave that can place women at a higher disadvantage than men when it comes to saving for retirement. The result? Women usually end up with less in savings to get them through their retirement years.

For this reason, it’s essential to encourage female clients to start saving as early and as much as they can, and to actively commend women for the initial steps they have taken towards saving — usually in a company matched 401(k) or savings account.

Young women especially may feel overwhelmed by the thought of paying down debt from student loans or credit cards while also trying to save money for the future. This is when having a written, long-term financial plan is invaluable to helping women visualize what they’re striving to accomplish. As their financial situations change, let your clients know to regularly check in to discuss how they can save more and build their wealth.

Although women may have different financial challenges from men, financial professionals have the ability to help female clients turn obstacles into opportunities. By understanding the unique situations women face, we can give them the best guidance to accomplish their goals and realize successful financial futures.

Delynn Dolan Alexander began her Northwestern Mutual career as an intern. In 1996, she was appointed managing director in Chapel Hill, where she ran a top office and recruited her business partner Reena Patel Bland. She recently became the first woman in Northwestern Mutual to achieve the “$1 million/$1 million” distinction for insurance and investment sales. Contact her at 919401-0321 or at delynn.d.alexander@nm.com

Working with Business Owners Is as Easy as 1-2-3!

Here is a three-step process that will help keep you focused and on track when developing business life insurance cases.

By David Szeremet, JD, CLU, ChFC

Small business is the backbone of America. There are more than 28 million small businesses in this country, a number that has grown by 49 percent since 1982.1 These small businesses are valuable assets to their owners, but many owners aren’t aware of the opportunities to build, protect and enhance themselves with life insurance. The majority of business life insurance cases can be developed taking a three-step approach.

One: Protecting the business and ownership team

Most small businesses can identify some employees as “key” to the organization’s ongoing success. These individuals possess unique skills, expertise, decision-making power and vision. Their unplanned absence can disrupt a company’s earnings, productivity and morale.

A key person life insurance policy protects against losses as a result of the death of a key person at your

business. The policy’s death benefit provides capital to help the company absorb the absence of the key person. Unlike other sources of capital, such as a sinking fund, a loan or company earnings, life insurance provides liquidity precisely when the need arises — upon the death of a key person. Further, optional riders are available that can waive premium payments in the event of the insured’s total inability to work due to disability. Upon the key person’s retirement, the company may decide to sell or bonus the policy to the insured, surrender the policy or simply keep it in force.

Not to be overlooked, business overhead insurance may be an excellent vehicle to cover fixed business expenses during a period of disability for an owner.

Two: Business succession planning

Once the key protection elements are in place, most business owners turn to business succession planning. The statistics don’t lie: 78 percent of small business owners plan to sell their businesses to fund their retirement, but only 30 percent have a written succession plan.2 This is an excellent opportunity for you as a financial professional to propose a buy-sell agreement as a funded exit strategy. In the event of retirement, death or disability, this can help small business owners harvest the value of their business when they leave the company.

Through a buy-sell agreement, the business owner selects a buyer and determines the purchase price and the funding source for the future sale of their business. In addition to consulting with a tax professional before electing to execute a buy-sell plan, your clients should work with an attorney to draft a buy-sell agreement between the business owner and the projected buyer.

A buy-sell agreement is most commonly structured as either a cross-purchase or an entity-purchase arrangement:

• Cross-purchase approach. Individual business owners purchase life insurance policies on the lives of all other business owners. It generally works best when there are three or fewer business owners of relatively equal age and health status, all of whom can be depended upon to make timely premium payments. A cross-purchase approach may also provide the most favorable tax basis for the purchasing owners.

• Entity-purchase approach. The business purchases policies insuring the lives of each business owner. This strategy is simpler for businesses with more than three owners, and it equalizes premiums paid for individuals of varying ages and health classes. Although premiums are not tax-deductible to the business, the death proceeds are received income tax free, assuming IRS guidelines are met.

Life insurance is often an ideal funding source for a buy-sell agreement triggered by the death of a business partner, and it may be the most affordable option when compared to a bank loan, a sinking fund or an installment sale. The death benefit provides liquidity precisely when the need arises — upon the death of a business owner. Further, a permanent policy can accumulate cash value that can help fund a buy-out strategy upon retirement.

Three: Rewarding top talent

Small businesses create two out of every three new jobs in America3, and the ability to recruit, retain and reward outstanding talent is key to a small-business owner’s success. An executive bonus plan using permanent life insurance is a benefit that can help set up your small business owners to give them flexibility and options different from what they could offer with a qualified retirement plan. They choose the participants and can pay premiums in the form of a salary bonus.

After working with underwriting to determine an appropriate policy amount, the business pays the life insurance policy premium. Assuming the bonus is reasonable in amount, the business receives an income tax deduction, and the employee pays income tax on the bonus.

The employee is the owner of the policy and names a beneficiary. Assuming that permanent, cash value life insurance is purchased, the employee would have access to policy cash value, typically as a retirement supplement. The policy cash flow would be taxed in an appropriate manner depending on the nature and extent of the withdrawal. If potential cash flow will be part of the policy design, it is generally inadvisable to use a modified endowment contract due to the likelihood of adverse tax consequences. When the insured employee dies, life insurance proceeds, minus any loan amounts, are paid to the employee’s beneficiary income tax-free.

Using a three step approach to working with business owners helps keep you focused and on track. But always remember — it’s about what the client wants, not what you want for them.

1. Small Business Administration website October 18, 2016. www.Sba.gov.

2. FPA/CNBC Survey of small business owners, April 13, 2015. www.cnbc.com.

3. Small Business Administration

David Szeremet, JD, CLU, ChFC, is second vice president, Advanced Planning, at Ohio National Financial Services based in Cincinnati, Ohio. Szeremet is responsible for the Advanced Planning team that provides estate planning, executive benefits, business insurance and life insurance planning. He can be reached at david_szeremet@ohionational.com or at 513.794.6389.

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Life insurance is often an ideal funding source for a buy-sell agreement triggered by the death of a business partner.

Navigating Planning Issues in 2017

By Brett W. Berg

Life insurance can be a key part of any needs-based discussion of estate and family business planning with your clients.

The last presidential election may prove to be one of the most surprising upsets in history and will most likely usher in a fluid tax environment in 2017.

As the dust settles, financial professionals will play an important role in helping families and family businesses better understand and navigate the changing landscape. When it comes to the needs-based discussions around estate and family business planning, life insurance in particular can be a critical part of this conversation.

Here are some of the potential tax proposals to watch for in 2017 and key ways to use the tax efficiencies of life insurance to help (1) minimize family conflicts, (2) ensure flexibility for changing needs over a lifetime, (3) provide for survivor needs and (4) manage wealth and tax exposure for future generations.

Although we will not know the exact details of any changes in tax laws until after Congressional passage of any proposed legislation changes in 2017, some of the proposals President Trump has articulated in the past are significantly reducing marginal tax rates, increasing standard deduction amounts, repealing personal exemptions, rescinding the 3.8 percent Medicare surtax, capping itemized deductions and allowing businesses to elect expensing new investment instead of deducting interest expense.

Whereas Trump hasn’t specifically mentioned repealing the gift tax, he supports repealing the federal estate tax and, potentially, eliminating the current step-up in basis of appreciated assets at death. In essence, the president’s proposal replaces the estate tax with a capital gain tax at death. Importantly, the Trump proposal does not include language on eliminating gift taxes associated with transfers during lifetime.

While it is still very early in the new administration and the tax landscape remains fluid, there does not appear to be any talk of fundamentally changing the tax attributes of life insurance. The cash build-up in life insurance is tax-deferred, while insurance withdrawals are tax-free to the extent of cost basis in the contract.

Loans are generally tax-free so long as the policy is not classified as a modified endowment contract (MEC), and the policy is not lapsed or surrendered.

Additionally, the death benefit of life insurance is generally income-tax-free. These tax efficiencies are important to remember when considering how life insurance can help clients address major needs-based issues in estate and financial planning, regardless of taxes.

With the current environment in a state of potential flux, it will be important for financial professionals and their clients to keep their dialogue open around planning issues in 2017. This will be particularly important when discussing intergenerational transfer of wealth and family business issues. For these clients, four key pointers regarding life insurance come to mind:

1. Life insurance can help minimize family conflicts.

Even though the federal estate tax may be reduced or eliminated under the policies of the new administration, the need for non-estate tax legacy planning will continue. For example, in many family-owned businesses, the commitment and contributions the children make are not equal. Often based on age, some children may work longer in the business than other siblings and feel they have a greater stake. Other children may choose not to join the family business in order to pursue other careers.

A common problem faced by these business owners is equalizing an inheritance, especially for the children who are not actively involved in the business. Typically, for the children who are not in the business, life insurance provides a sum of money free from income tax, while those children who continue to run and earn from the business ultimately inherit it.

To be sure, this planning may not be exactly equal in monetary or opportunity terms. The objective is to be fair when attempting to equalize the inheritance based on the client’s overall transfer goals. Importantly, life insurance can go a long way in helping to minimize family conflict when a business is involved.

2. Life insurance can help ensure flexibility and address changing needs.

Life insurance, and especially permanent life insurance, remains an important tool not only to provide death benefit but also cash accumulation potential to help supplement retirement income or other unanticipated cash needs.

The tax deferral of any cash value build-up helps reduce the negative impact of tax, while the tax-free withdrawals, to the extent of cost basis, and loans, in certain situations, also demonstrate the tax efficiency of life insurance as a potential tool for supplemental income in retirement.

These features really form the foundation of the flexibility life insurance offers, which can help address a client’s changing needs over time. Of course, it is always best practice to remind the client to consult his or her tax advisor on this and other taxation matters to keep up-to-date on applicant tax laws.

3. Life insurance helps provide estate liquidity for survivor needs.

Estate liquidity is the core role that life insurance plays in providing for survivor needs — and its importance cannot be emphasized enough. Adequately projecting survivor needs for income replacement due to a premature death should be part of every conversation, and life insurance, whether term or permanent, can provide liquidity when it is needed the most.

4. Life insurance can help manage wealth and tax exposure for current and future generations.

Regardless of whether the federal estate tax is repealed or reformed, life insurance is, and will continue to be, a financial tool, especially when included in a trust as an important financial vehicle to help manage wealth and other types of tax exposure over the generations.

Life insurance has the same tax benefits when it is used in trust as when it is used outside trust — tax deferral of any cash build-up, as well as income-tax-free withdrawals and loans. The trust itself will help manage wealth for a variety of non-tax reasons, including protecting against the spendthrift tendencies of children, providing protection from the claims of creditors and directing the care of special needs children.

Every situation is different, and clients should always work with a team of advisors, including the financial professional and the client’s lawyers and tax advisors. The main point is that life insurance trusts will continue to be important for many clients even if the federal estate tax is repealed.

Clarity in direction does not equal certainty in outcome. Even the boldest fiscal plans are subject to compromise or a complete rollback of their provisions. The key for financial planners is to maintain flexibility for their clients, and the versatility of cash value life insurance can help maintain that flexibility.

Regardless of the outcome of these tax proposals, life insurance addresses certain core needs; namely, immediate and timely cash when a family or business needs it the most — during lifetime or afterwards. As such, life insurance remains a crucial financial vehicle that helps provide the type of flexibility and versatility many families require in their planning today and for years to come.

Brett W. Berg, JD, LLM, CLU, ChFC, is Vice President of Advanced Marketing at Prudential, where he provides thought leadership on advanced planning and speaks at industry and broker conferences on estate and business-planning topics.

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Life insurance trusts will continue to be important for many clients even if the federal estate tax is repealed.

Deadline for 2017 NAIFA Quality Award is May 31

May 31 is the deadline for applying for the 2017 NAIFA Quality Award. This year, NQA recipients will again be provided with the ability to import their NAIFA Quality Award badge into the Credentials Section of their LinkedIn profile.

Since 1945, the NQA has recognized NAIFA members for quality service to their clients. More than a measure of sales, the NQA demonstrates your professionalism and dedication to helping your clients meet their financial goals.

The NQA provides advisors at any stage of their career and in any practice specialty with the opportunity to demonstrate a commitment to exceptional:

• Professionalism through education and earned designations

• Production measured by performance metrics customized for each practice specialty

• Adherence to the NAIFA Code of Ethics

• Service to your industry association

Apply in one or more of the following practice specialty categories:

• Life Insurance and Annuities

• Multiline Insurance

• Health and Employee Benefits

• Financial Advising and Investments

If your practice spans more than one specialty area, the unique bonus multiplier credits allow you to build credit toward your production qualifications by combining production across specialties. A demonstrated commitment to professional education and association leadership also earns you qualification credit.

The NQA is a continuation of the former NAIFA Industry Awards. Previous recipients of the NAIFA Industry Awards will carry over their years of achievement to the NQA.

The following companies submit NQA applications and application fees on behalf of their agents and advisors:

Country Financial

Kansas City Life

Modern Woodmen of America

Securian

Southern Farm Bureau Life Insurance

Thrivent Financial for Lutherans

Western & Southern Financial Group

If you are a NAIFA member with any of these companies and you meet the award criteria, you do not need to apply for the NQA. Your company will apply on your behalf.

For more information about the NQA and to apply for this prestigious award, visit www.naifa.org/ qualityawards.

Brendan Bernat is Director - Professional Development & Education Programs at NAIFA. Contact him at bbernat@naifa.org.

NAIFA GOVERNMENT RELATIONS

By Diane Boyle, HIA

New Administration, New Congress, New Opportunities

NAIFA is ready to educate legislators and regulators about the vital role advisors and the services they provide play in the financial services arena.

The November 2016 election is now history, with Republicans capturing the White House and keeping a majority in both the House and the Senate.

Donald J. Trump is the 45th president of the United States. Speculation about what Congress and the new president will do in 2017-2018 has already begun. President Trump has no political track record, but the history of his business dealings suggests he is a deal-maker. Many believe Vice President Mike Pence will play a key role in coordinating legislative efforts and working to find common ground.

While Republicans maintain a majority in the House and the Senate, the Democrats are the ones who had modest gains in each chamber. Democrats gained two seats in the Senate and a net of six House seats. Republicans will hold a 52 to 48 majority in the Senate, so they still fall short of the 60 votes needed to end a filibuster.

The 115th Congress is likely to consider several legislative issues of importance to NAIFA members. These include tax reform, health care reform (repeal-and-replace of the Affordable Care Act [ACA]) and changes to controversial Obama Administration regulations.

NAIFA’s tools for success

NAIFA’s success depends on our ability to educate legislators and regulators about the vital role insurance agents and financial advisors play in the financial services arena, while demonstrating the value of products that protect the financial well-being of millions of Americans.

NAIFA uses three central strategies to accomplish these objectives:

• Creating and maintaining a diverse grassroots network in each state through the Advisors Political Involvement Committee (APIC).

• Developing and maintaining personal and professional relationships with federal lawmakers through NAIFA's Government Relations team.

• Supporting candidates who stand up for financial advisors through financial contributions from IFAPAC, the insurance industry's leading political action committee.

Although mass mobilization campaigns play a role in an effective advocacy program, nothing can replace the power of personal relationships between NAIFA members and elected officials. The personal relationships that NAIFA's members share with lawmakers are an important facet of a successful political advocacy strategy.

Before the November elections, NAIFA had a “coverage” rate of 100%. That means that for every member of Congress, the association had identified at least one NAIFA member who could serve as an APIC contact.

There will be over 60 new members of Congress. That means our coverage rate has dropped to 88%. So, a top priority is to get to know and educate these new lawmakers as soon as possible. Remember to join us for the 2017 NAIFA Congressional Conference from May 23–24, 2017.

NAIFA's political action committee, IFAPAC, supports the elections of both Republican and Democrat candidates who understand the important role of insurance agents and financial advisors. During the 2016 cycle IFAPAC contributed over $2.4 million to 375 candidates. At least one federal legislator from every state received NAIFA’s support.

Over our 126-year history, we’ve seen success with a variety of party combinations. As times and tactics change, NAIFA will continue to innovate and improve its advocacy efforts, make strategic financial investments through IFAPAC, and maintain strong relationships with lawmakers from both political parties.

The result will be a well-positioned association that is effective with the new administration and the 115th Congress.

YEARNAIFA VICTORYHOUSESENATEADMINISTRATION

1913 Exclusion from federal income tax of the life insurance death benefit, dividends and cash value

1945 Passage of the McCarran-Ferguson Act, which preserved state insurance regulation

1974 Creation of IRAs, which in turn led to 401Ks and HSAs

1986 Tax Reform Act — preserved inside build-up of life insurance and annuities

1990 Creation of single premium life insurance distributions

1996 Phased in health insurance deduction for selfemployed and MSAs created

2003HSAs created

2006 COLI best practices adopted, tax-free charges against cash value to pay for LTC premiums, LTC Partnerships and State High Risk Pool Funding

2011 President signs into law a provision to eliminate Free Choice Vouchers, which would have been damaging to employer group health plans, and HHS suspends the CLASS (public LTC) program.

2015 National Association of Registered Agents and Brokers enacted

Diane Boyle is NAIFA’s Senior Vice President of Government Relations. Contact her at dboyle@naifa.org

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A top priority is to get to know and educate new lawmakers as soon as possible.

By Bryce Sanders

How to Get High-Net-Worth Clients

Start by mingling with the great and the good and joining a professional organization.

All advisors want new clients. They want wealthy ones, ideally with wealthy friends. These people are out there. If your city has 500,000 households, the top two to five percent represents 10,000–25,000 opportunities. But “smile and dial” went away when the Do-Not-Call list arrived, and most of your time is spent servicing current clients. So how are you going to get your share of the high-net-worth (HNW) market?

Let’s consider a few approaches, each with the potential to put you in front of the right people. But that is just half of the job — the next half is getting to know them socially, identifying a need and positioning yourself as part of the solution to their problems. It takes time, but you need to make the time if you want to be successful. Here are the approaches:

1. Mingle with the great and the good. You want people with assets. Philanthropists have money to give away.

Rationale: The arts in your community are supported by wealthy individuals and corporate sponsors. Museums and cultural organizations issue annual reports, often available online. These name major donors, organized by giving level. Donors like to watch how their money is spent. They attend events.

Action Step: Pick four groups, each of which holds monthly events that attract 200-plus people. Attend four of these events a month — one per group — where you meet six new people and say hello to old friends.

Result: You’ve met almost 300 people in a year (6x4x12). Let’s assume a third of these people don’t meet your ideal client profile, and another third can’t stand you. This leaves 100 people with assets who like you.

2. Befriend your religious leader. You belong to a faith community of several hundred members, some of whom have problems of a financial nature.

Rationale: Your congregation is likely a cross section of the community, with people of all incomes and ages. Parishioners periodically ask for advice, sometimes financial. Your religious leader needs a safe set of hands for referral purposes.

Action Step: Set up a meeting with your religious leader and explain how you help people. Offer to deliver a seminar on identity theft or on understanding Social Security at their community center as an educational activity for the congregation. Place a business- card ad in the organization’s weekly bulletin.

Result: Older parishioners lose their spouses, and they might need advice about inherited assets. Many people feel comfortable working with a local person who shares the same beliefs and values as they do.

3. Join a professional organization.

Physicians, manufacturers, government contractors and people in other fields have their own professional groups where they socialize and learn from each other. They often meet your ideal client profile.

Rationale: Common sense says that these groups restrict membership to people employed in their field, but many groups offer associate memberships to people and firms that provide services utilized by their members. Insurance, accounting and banking are three examples.

Action Step: Research local groups for professions you think are appropriate, learn about their associatemembership requirements, join the groups and become an active participant who is willing to volunteer at events.

Result: You get to know people in the fields that often have efficient gatekeepers at their offices. They get to know you as a person, and you identify interests in common.

4. Research local layoff news.

Although the job market has improved, companies are still downsizing. This is public information. Find out who might need your help and ask your friends if they know anyone in a similar situation.

Rationale: Worker Adjustment Retraining Notices (WARNs) are issued before layoffs at major firms to provide advance warning to employees. They are usually easy to find with the help of Google or another search engine.

Action Step: Find those firms in your local area, and find out if you have friends who used to work at those firms or if their friends used to work at those organizations. There are lots of things they need to know about moving their retirement assets. Let them know you have helped others and you may be able to help them too.

Result: You have an advocate on the inside. They can mention your name to people who are affected by the layoff and may be in need of your advice and services.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financialservices industry. His book “Captivating the Wealthy Investor” is available on Amazon. <pull quote:>

Offer to deliver a seminar on identity theft or on understanding Social Security.

By Mike Morrow, CFP

Boost Retention and Profits by Wowing Your Customers

An ongoing appreciation program can help you retain existing clients by exceeding their service expectations.

As financial advisors, our time, money and resources are best spent focusing on existing customers. The power of graduating clients up the four levels of an advisor-client relationship is a process of developing a relationship with a prospect in hopes of securing him as a client, turning that client into a loyal client and then having that client become your advocate. Your aim is to have close to 100 of your clients’ assets, revenue and insurance sales and to keep them as clients for as long as possible.

This system is a far more effective use of our time than constantly looking for prospects, referrals and new clients. I realized early in my career that I would rather have 100 percent of the assets, revenue and insurance sales of 250 people than 25 percent of the assets, revenue and insurance sales of 1,000 people. Building my practice around this philosophy has provided me with a successful career with less stress, and it benefits my clients as well.

Incorporating even small improvements to your client-engagement tactics can build and cultivate a mutually beneficial partnership, which will have a positive impact on your bottom line. The degree to which you foster client relationships will affect your level of success.

From the first meeting, you need to make sure that your clients know they are valued. Whether people feel acknowledged and/or appreciated can influence their behavior as well as their decisions. Clients who are engaged feel valued.

Everyone enjoys being surprised with a gift to celebrate a birthday, retirement, wedding or graduation. There are various steps you can take to help you score big with your clients. Here are a few:

Send a book . You can send a book about personal finances to help your client better understand the financialplanning process. Or considering the fact that most clients will have outside interests, send them a book about one of their hobbies.

Create personalized stationery. Create personalized note cards, sticky notes, letterheads, envelopes or pens that have your clients’ names and send them to them. Clients can use these year-round, and each time they do, they’ll think of you.

Deliver a solid oak policy box. Add a nameplate on the front of the box that says, “Especially for (client’s name).”

Give your client a framed, autographed photo. Framed, autographed photos of professional athletes and musicians make incredible gifts. Consider a nameplate that reads, “Especially for (client) from (your firm).”

Give them a historic newspaper or magazine. Find one from the day your client was born and send it as an authentic reminder of their special day. This collector’s item is truly a one-of-a-kind gift.

Create “retirement business cards.” This unique marketing tool has the client’s contact information and a brief (humorous) note about his schedule as a retiree. The cards will also read, “Compliments of (your firm or your name).”

Make a charitable donation: Find out if your client has a favorite worthy cause, and make a donation to that cause. Then send your client a card letting him know that a donation was made in his name.

Give them annual custom calendars. Create a laminated, one-year-view calendar with a thought-provoking financial concept, personalized with your company name and logo.

Provide tickets. Invite your clients to join you for an upcoming event, or give them a pair of tickets to a sporting event, concert, comedy show, play or ballet.

Implementing these strategies will have a direct and positive effect on your business. If you maintain an ongoing appreciation program, you will retain existing clients by exceeding their service expectations and boosting loyalty. Remember that cultivating the advisor-client relationship is at the core of what you do as a financial advisor and is the best way to serve your clients. You achieve this simply by staying in touch with your clients and showing them you appreciate their business.

Mike Morrow, CFP, is a financial advisor, speaker, author and commentator. He is the author of “The Loyalty Edge” and has been pioneering his clients to their financial goals for more than 25 years, focusing on client engagement and fostering client loyalty. Please visit: www.ideasforadvisors.com. To book him for your next event, contact him at michael@ideasforadvisors.com

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Clients who are engaged feel valued.

By Shane Westhoelter, AEP, CLU, LUTCF

Top Sales Ideas from a TOP Producer

Use these three sales ideas to move your practice to the next level of success.

The following are a few ideas that have played a major role in my journey to MDRT’s Top of the Table. Use them consistently and they will help you enhance the financial performance of your practice.

Learn the common denominators of master salespeople

Over the 28 years of my career, I have heard many great presentations, motivational talks and product pitches. The one thing I noticed about those who have given these presentations is that all of them have some common denominators. These include:

They have a driving passion for what they do. It is not a job to them — it is a passion. They wake up eager to do what they love, and they love what they do.

They believe in what they sell. They have a conviction that what they are selling is something their clients need. They own it themselves, and know the true value it offers.

They want to help others, not just sell products. Their focus is on finding a solution. It is not about the commissions, fees or income; rather, it is about helping others find a solution to address a need.

They know it is not what they say, but how they say it. Words matter, and they are masters at learning how to say things in a way that people can understand and relate to.

They know how to tell stories. The meeting with their client or prospect is not a product pitch, an educational session or a detailed ledger sheet. Instead, they bring the meeting to life with a story — something the client can relate to and apply to his own situation. Drawing from experiences or real-life situations, they can help clients see the picture through a good story.

They view things half-full, not half-empty. They look for the good in people, the good in situations, the good in the present and the good in the future. They do not allow negativity to block their outlook. Instead, they help others grab onto the hope of a better tomorrow and provide them with the guidance they need to make it happen. They embrace change. For them, change is expected, is part of life and does not cause them to waver. They look forward to change as an opportunity to grow and adapt.

They have fun! Having fun and laughter along the way is what sets them apart from their competitors.

Learn to do things differently

Recently, when I shared a few sales ideas with agents and advisors, I gave examples of how to do things differently. My suggestions to them were, in talking with their clients, they should stop saying “retirement,” stop talking about financial planning and stop trying to over-educate them.

Instead, they should start talking about living a quality life with dignity and without financial stress, and start planning to have financial independence so they can perform the items on their bucket list. I urged them to start helping their clients to take the “if” out of “life” and learn how to live and help their clients address the following questions: What if I live and what if I linger? And if I leave, what will my legacy be?

We need to stop thinking about “selling” and start thinking about solving our clients’ problems and helping them achieve what they really want, not what we think they want.

Become a master listener

If you want to be a master salesman, you should also start by becoming a master listener. Stop talking and start listening, not so much to what your clients and prospects are saying, but to what they are not saying. What is it they really want but are not articulating? What matters to them the most?

Once you learn to hear what is in their hearts — not what is coming out of their mouths — you will begin to know how to give them what they want.

Let me put it this way: Would you rather have enough money to last until you die, or live a life of dignity without financial stress for the rest of your life?

Remember, it is not what we say that counts, but how we say it.

These are the opinions of Shane Westhoelter and not necessarily those of Cambridge, are for informational purposes only and should not be construed or acted upon as individualized investment advice.

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Gateway Financial Advisors, Inc., and Cambridge Investment Research, Inc. are not affiliated.

Shane Westhoelter, AEP, CLU, LUTCF, is President/CEO of Gateway Financial Advisors, Inc. <pull quote:>

Once you learn to hear what is in your clients’ hearts, you will begin to know how to give them what they want.

March/April 2017 issue

The 5 Most Overlooked Uses of Life Insurance

Feature: Making the Most of Your Study Group

Product Spotlights: Boosting Your Clients’ Retirement Plans

The Best Approaches for Selling Annuity Products

back page

Juli McNeely, CFP, LUTCF, CLU

Know Your Why

If we spend all our time talking about product features and not about why our prospects are thinking of buying, we will likely lose them.

Well over 29 million people have viewed Simon Sinek’s TED talk titled, “Start With Why”. Sinek also authored a book by the same name. I had the privilege of joining other LILI alumni in Wisconsin to read and discuss this book and how it applied to our businesses and to NAIFA.

Sinek talks about what, how and why we do what we do. It didn’t take long for our group of alumni to point out that we all got caught up in the “what,” especially early on in our careers. We recalled focusing on the product benefits and features, the product brochures and volumes of illustrations when we meet with a new prospect.

When you first start in this business, you are faced with a steep learning curve, and it’s easy to focus on the “what” instead of the “how” and the “why.” Since most consumers make decisions based on “how” and “why,” it seems strange that our instinct tells us to spend so much time on the “what.”

We then started to dive more deeply into the “how” and “why,” and it didn’t take long for the group to realize that over time in our careers, we had moved the discussion toward these two areas instead of getting stuck on the “what”: how you do what you do, and how different you are from others in your space. What’s different about you?

Perhaps the most difficult thing for us to make clear to our clients and prospects is why we do what we do. As Sinek says, “what is our purpose, cause or belief? Why does your company exist? Why do you get out of bed every morning? And why should anyone care?”

Most companies will describe what they do from the outside in. If we describe what we do from the inside out, we will send a very different message to our clients and prospects.

Let’s take life insurance as an example. If we spend all our time talking about the product features and benefits and not about why our prospects are considering purchasing coverage and how that coverage can help their families in times of difficulty, we will likely lose the clients or prospects in the mud. I’ve often heard that life insurance is an emotional purchase. There’s no better way to kill the emotion than to spend all the time pouring through numbers on an illustration.

The same thing goes for retirement planning. If we spend all of our time on what product we will use and the features of that product, we will lose our clients or prospects along the way. Instead we should spend our time first on why we are planning the way we are and look at the bigger picture and the feelings and emotion behind it. Eventually you will get to the “what,” but the “why” carries far more weight when making decisions.

You just might want to pick up a copy of Sinek’s book or at the very least, listen to the TED talk. I know it made an impact on me and my entire team.

I wish you great success this year and in the years ahead!

Juli McNeely, CFP, CLU, LUTCF, is president of McNeely Financial Services, past president of NAIFA, past president of NAIFA Wisconsin and past president of NAIFA-Central Wisconsin. You can reach her at juli@mcneelyfinancial.com. <pull quote:>

Perhaps the most difficult thing for us to make clear to our clients and prospects is why we do what we do.

Joe Betcher,

RFC

representing Ohio National Financial Services, has completed all the requirements to qualify as a member of Ohio National’s 2016 Executive Council

Only the most accomplished achieve membership in the Executive Council. In 2016, less than one percent of those eligible met the criteria required to achieve membership.

Ohio National is pleased to honor its most accomplished fi nancial professionals and salutes them for making a difference in the lives of our policyholders today - and for generations to come.

Joe Betcher, President of Betcher Financial Group may be reached locally at: 12900 Hall Rd., Ste 300 • Sterling Hts., MI 48313

Telephone: 586.726.8866

The Ohio National Life Insurance Company

Ohio National Life Assurance Corporation

Success, together

The only carrier with 27 consecutive years of individual life insurance sales growth

Ohio National’s unmatched record didn’t happen by chance. It’s the result of working together with our growing network of financial professionals to offer the tools needed to succeed: competitive products; fast, responsive service; and the independence to grow their business in their vision.

This year, discover a better fit to build your business. Together, we can achieve outstanding results, set new records and shape an even brighter future.

Call for Excellence

The John Newton Russell Legacy

Outstanding Character, Dedication to the Profession, Meritorious Service

Do you know anyone who possesses these outstanding qualities? If you do, now is the time to submit his or her name for the John Newton Russell Memorial Award. This is the industry’s highest honor.

In 1945, John Henry Russell provided the original endowment to establish this prestigious award to honor his father, John Newton Russell. A staunch proponent of informed, ethical marketing practices, Russell was agency manager for Pacific Mutual. He served as president of NALU (now NAIFA) during World War I and was one of the incorporators of The American College of Life Underwriters. His high standards are perpetuated in this award, which seeks to recognize someone with outstanding personal qualities, unstinting loyalty to the business and exemplary leadership.

Eligibility requirements

The award program is open to anyone you believe is highly qualified, and exhibits the character, leadership qualities, contributions to the profession and American families exemplified by John Newton Russell. Any member of a NAIFA local association is eligible to

nominate a worthy candidate. Nominees must be insurance and/or financial-services professionals.

Standards for consideration are extraordinarily high. The characteristics of past recipients have included unwavering loyalty and a high level of professional accomplishment and community service.

How to apply

When you send in your nomination, provide the award selection committee with sufficient information about your nominee and explain the basis for putting forward the person you chose. Nominations will be accepted through February 17, 2017. Your nomination contains the only information the selection committee will have as a basis for their decision, so please be thorough in your description.

The 2017 recipient will be announced in early May and will be honored at the NAIFA Performance + Purpose Conference in Orlando, Florida in September 2017.

Follow the instructions of the application form on the next page and submit it by the deadline indicated. Membership in your local association is required for participation in the award program.

The 2017 John Newton Russell Memorial Award Selection Committee

John F. Nichols, MSM, CLU Chair

Peter C. Browne, LUTCF

2015 John Newton Russell Honoree

Sy Sternberg, CLU

2014 John Newton Russell Honoree

Jules O. Gaudreau, Jr., ChFC, CIC Immediate Past President, NAIFA

Juli Y. McNeely, LUTCF, CFP, CLU Second Past President, NAIFA

Chris M. Foster, CLU, CHFC, CFBS, AEP AALU Liaison

Gov. Dirk A. Kempthorne ACLI Liaison

Robert R. Johnson, Ph.D, CFA, CAIA

The American College Liaison

Cliff Wilson, CLU, ChFC, CLF, LUTCF LIFE Liaison

Anthony R. Bartlett, ChFC, CASL, AEP SFSP Liaison

Mark Hanna, CLU, ChFC MDRT Liaison

Robert A. Kerzner, CLU, ChFC LIMRA Liaison

Kevin M. Mayeux, Esq., CAE, CRMA Secretary

Recommendation for the 2017 JOHN NEWTON RUSSELL MEMORIAL AWARD

Recommendation

In my opinion, the following living person has rendered service to the institution of life insurance which, viewed in retrospect, is so outstanding and beyond the call of duty as to merit consideration for the John Newton Russell Memorial Award.

Name Volunteer position

Address ___________________________________________________________________________________

Phone number and email

Supporting Data

On a separate sheet of paper, in 500 to 800 words, give a biographical sketch of your candidate, listing the individual’s industry and civic accomplishments and honors received. Please indicate the specific accomplishments that, in your opinion, demonstrate that your nominee deserves the award.

Nominator _________________________________________________________________________________

Volunteer position __________________________________________________________________________

Address ___________________________________________________________________________________

Phone number and email _____________________________________________________________________

Mail this form to:

John Newton Russell Award Committee

c/o Executive Office

National Association of Insurance and Financial Advisors

2901 Telestar Court Falls Church, VA 22042-1205

Supporting data must accompany the nomination. Deadline: Feb. 17, 2017.