AIG Life Insurance - Agent Marketing Reflections

AIG Life Insurance Company, as part of the American International Group, was the global international leader in the financial services industry. This giant has various operations in over 100 countries with additional services that include property casualty insurance, asset management services, and purchasing and underwriting subprime loans. Without the massive and controversial United States bailout, it would be in bankruptcy.

AIG has lost their coveted super high insurance ratings, where the major rating firms annually miscalculated their business practices. Now they have begun a reorganization that will constitute major selloffs while refocusing on once again becomes a dominant insurance company. Stockholders saw stock prices plummeting from its high by over 90% before now starting to stabilize.

Your big AIG question should be: Has AIG learned their lesson? Moreover, if you now or previously represented them, Have You learned your lesson?

Five things contributed to the choice of many American insurance reps to sell their insurance products to clients.

1. GREED Selling term insurance offered by AIG Life Insurance provided representatives with commission payouts often 20 to 30% higher than other major competitors.

2. SIZE Insurance representative implied to prospective clients that dealing with the largest company, meant it had to be the best. Otherwise, how could it be the largest?

3. RATINGS Many insurance reps only will sell products of the highest rated insurers. They tell themselves and clients that means financial security. Well the atomic rating bomb has exploded, injuring millions.

4. PRICE The easiest way to sell term life insurance, is to offer your prospect the lowest price on the market. Do clients buying AIG Life coverage live longer so rates are lower? Are AIG internal expenses lower, so rates are lower? (Like an expensive resort meeting in Arizona funded by American taxpayers) Do they pay their reps less? (See #1) A full combination of these would be the only way rates could be lower then competitors.

5. BUYING BUSINESS The quickest way to jump the ladder to rise upward, is for an insurance company to "buy business". As the insurance company, you attempt to give as many clients now by whatever it takes to get more policies sold, and worry later about when claims have to be paid out. Baiting the hook was easy. Sucker in agents with higher commissions, the lowest term insurance rates, and thinking they were representing the smartest insurer out there.

AIG Life Insurance is still "buying business" today, after all the turmoil of internal problems. Watch television and you will see a closely affiliated company offering term life insurance at rates up to 70% less than others. If you somehow catch the fine print, you will see AIG mentioned as the insurer. An excellent way for AIG Life Insurance to bypass insurance representatives, and still fool consumers. A slight twist, but business as usual for them.

Selling insurance to clients should reflect the conscience of an insurance representative in recommending the right product and the right company. There are over 600 life and health insurance companies offering products in almost every state. If you are selling based highly on commission rates, company size, ratings, or price, you are probably doing a disservice to your clients.

THE BEST POLICY IS HONESTY

Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Tell it like it is. The website address is http://www.agentsinsurancemarketing.com Get your FREE "Think and Grow Rich" Ebook by Napoleon Hill.

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Insurance Sales Coach - The Path to Insurance Sales Success

If you keep doing what you're told to do you're doomed. If you're like 85% of your fellow producers, your career will end within your first 18 months. Of those making it 5 years the majority will burn out and give up. Thus if you keep doing what you're told to do you aren't likely to succeed.

Doing what you're doing now guarantees a life of chasing after prospects who don't want to talk to you, scraping to cover your bills each month, and living commission check to commission check. Most producers aren't in the business long enough to even get a residual commission. If you want to eat you have to hunt fresh meat every single day.

While it's great for the insurance companies if you continually sell new policies to new people it isn't necessarily so great for you. That's a hard life few can sustain even if they're able to generate a livable income. Of course, the livable income is where the wheel comes off the wagon for most.

Many newbies innocently do exactly what they're told to do by their sales manager because they think the sales manager knows how to succeed in the business. Plus they believe the insurance company wants them to succeed. In other words, you buy into not one but two fallacies. First, the insurance company doesn't care if you succeed there's another new agent coming on line to replace you as you read this. Plus if you fail they get to keep all the on-going earnings the policies you wrote generate long after you're gone.

The second fallacy is your sales manager knows how to succeed in the business. If your sales manager were a super producer that sales manager would have a thriving business and wouldn't want to be a sales manager. They're struggling to pay their bills just like you and they think taking on this sales manager's position will help them cover their expenses.

This is how it is, but it doesn't have to be that way for you.

This is your business, your future, your family that's on the line. Take responsibility and follow a path that leads to real insurance success. If you want to develop a successful insurance business one you can both sustain and enjoy there are a few things you'll need to do. These are the things that will produce a path for your insurance sales success:

* Discover how to market yourself so the people you want to sell to contact you
* Narrow your focus and expand your expertise to better meet the needs of a select group of people
* Develop a message that resonates with what your best buyers want to get, what they want to avoid, or what they want solved
* Develop automated systems that transition strangers to clients
* Develop automated systems to earn both repeat business and referrals from existing clients.

You see you can't sell insurance until you know how to sell insurance. You'll never learn how to sell insurance doing it the way you're told to do it. You can choose to develop a business that produces real results or you can continue to eke out a bare minimum existence one commission check to the next. You can have your sales manager breathing down your neck or you can have your sales manager chasing after you begging you to tell how you're producing the results you're producing. As always the choice is yours.

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Increase Sales Coach Cheryl A. Clausen Gets Results Sales Training Can't BECAUSE it's never just a sales issue

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BC Homeowners Face Tough Times When Flooding Strikes

Residents of Southern BC have faced tough weather conditions this winter, with buckets of snow wreaking havoc on transportation arteries throughout the mainland as well as Vancouver Island. Rising temperatures and heavy rains are now causing the snow to melt quickly, which is overwhelming waterways and flooding streets and houses.

Chilliwack, for instance has declared a State of Emergency due to dangerous flood conditions. Mudslides are also hitting some homeowners in the Fraser Valley, putting not only property, but lives at risk. The melting snow and rain have caused an overflow in Victoria's sewage system, which has resulted in untreated waste flowing into the waters of the eastern coastline.

With flood waters hitting so many BC communities, homeowners need to know what to do to protect their homes in the event of a flood.

The first thing that BC homeowners need to be aware of is the fact that natural flooding is not covered by standard homeowners insurance. In the event that your pipes burst or city water mains fail, you will be covered for any water damage incurred, but cases of overland flooding are not covered.

According to the Insurance Bureau of Canada, flood insurance is not available in BC because it would not be cost effective. In general, only those who live in high risk areas are willing to pay for flood insurance, which means that insurance premiums would cost homeowners a mint. Flood insurance would only be feasible if more people were willing to pay for it; it would even out the mix of high- and -low risk policy holders, making it a more viable venture for providers.

Some areas are now eligible for financial aid under the Disaster Financial Assistance Program, which is run by the Ministry of Public Safety. This plan is designed to assist homeowners and small business owners whose property has been damaged from an event that is not covered by standard insurance, such as overland flooding. Those who qualify for assistance can receive up to 80% coverage for damages that are between $1000 and $300,000.

Areas that have been approved for assistance from the recent floods and mudslides include Abbotsford, Chilliwack, Surrey, Langley, the Fraser Valley Regional District, and communities along Southern Vancouver Island. If you live within one of these areas, you must submit an application within 90 days of the approved event. To apply, visit the Provincial Emergency Program website at pep.bc.ca.

If you're concerned about flooding in your own home, the best thing you can do is to minimize the amount of water that can get inside the house. If possible, have sewer backflow valves installed to keep floodwaters and sewage from backing up into your drains. If this isn't feasible, you can minimize backflow by stopping all drains with drain plugs, weighing down your toilet lids to keep them closed, and disconnecting dishwashers and washing machines.

Line up sandbags around the perimeter of your home and in front of any vents or openings. If you can't find sandbags locally, fill pillowcases with soil from your garden.

Move everything of value (including important documents) to higher ground. If you have more than one story, move everything to the highest floor. Appliances and furniture should be raised as high as possible, and you should be prepared to turn off gas, water, and electricity. Make sure to have food supplies, bottled drinking water, flashlights, medications, batteries, and a first aid kit with you on an upper floor, and don't forget to grab your pets, some food for them, and a litter tray.

At http://www.VancouverPropertyFinder.com, the best Vancouver houses are at your fingertips. You can browse real estate listings or perform a customized search for homes throughout the Greater Vancouver area, including the East Hastings real estate market.

Article Source: http://EzineArticles.com/?expert=Mike_Andruff

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Disaster Preparation - Flood Insurance

Many people are unaware or apathetic to the risk of a flood in their area. Flood damaged homes and businesses can cost hundreds of thousands of dollars if proper protection is not taken. Most people living in highly risk areas for flooding will inevitably purchase flood insurance. But what kind?


It is often hard to know what kind of a policy you should invest in. Many home and business owners are unaware of what the typical cost for such coverage is and what the benefits of the coverage can be. To find the right insurance for you, it is important to understanding a little bit about what flood coverage is, what kinds of policies exist, and, most importantly, what coverage fits for your particular flood risk.

What is Flood Insurance?

There are three basic types of flood insurance:

Dwelling
"Dwelling" insurance usually covers residential buildings that contain no more than four families, residential condominium units, manufactured homes, and the storage contents of the insured building's tenants.

General Property
"General property" policies tend to cover larger residential buildings like those that house more than four family units as well as certain commercial buildings, such as churches, schools, and small businesses.

Preferred Risk
"Preferred risk" policies are generally offered at a lower cost to residential and commercial building owners with a low to moderate flood risk levels.

Why Get Flood Insurance?

Many people don't feel the need to protect themselves with flood insurance because of their location or the construction of their home. What these people don't understand is that even a few inches of standing or moving water can cost thousands of dollars in infrastructure and restoration work. Flood insurance not only helps cover the financial burden of flood damage but many providers can help you find other disaster relief services, such as document restoration specialists.

Questions For Your Agent

Like any major purchase, it is important to understand what you will get and what the complete costs are up front. Take the time to ask your agent questions so that it is clear how your coverage will work.

Here are questions you should make sure you know the answers to when discussing policies with your insurance provider:

• Do I live in a flood zone? If so, how will my location affect the cost and benefits of my policy?
• What will be covered by my new flood policy and what won't be covered?
• How much is the cost of the policy fee and premium, and are there hidden expenses or fees I need to know about?
• Do I need coverage for my building only, its contents only, or both?

Filing a Flood Damage Claim

Contact your insurance agent or company as soon as you realize that you have flood damage. Make sure you have the name of your insurance company and your policy number in an easily-accessible place. This will help speed up the filing process. You insurance provider will then schedule a visit with a claims adjuster and advise you on how they will proceed with your claim.

After you've contacted your agent you will need to make a list of all damaged or lost valuables. Separate your damaged goods from the undamaged ones and, with the help of your adjuster, start itemizing and calculating the value of the destroyed property.

Purchasing the right flood insurance doesn't need to be an overwhelming experience. With a little research and an honest agency you can find an affordable plan that will cover your valuables should the unthinkable occur.

~Ben Anton, 2008

Restoring your home after a natural flood water disaster is overwhelming. Talk to a professional at Rapid Refile about recovering damaged documents, photos and materials after a flood.

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Water Damage FAQ

What causes water damage?

The most obvious causes of water damage, and those that cannot be avoided, are severe forces of nature, such as hurricanes or floods. Water damage also can occur when a fire is extinguished, from leaking pipes, and malfunctioning washing machines and heaters, as well as leaks in your roofing and siding and from defective gutters, which will cause water to pool around your property and potentially leak into your basement.

What areas of my property should I watch regularly for damage?

Water damage can occur in every area of your home and property, but there are certain areas that, if damaged, are more problematic and should be watched closely. Check the plumbing pipes and connections in your home's bathrooms and kitchen as well as any pipelines in your basement or crawl spaces for standing water and leaks.

What are some hidden signs of water damage?

Some of these signs include peeling paint and wallpaper, splotches of mold, moisture and condensation, a musty smell and moisture in your carpet or other flooring.

Are there any tools or pieces of equipment that are important for detecting and dealing with water damage?

Moisture detectors are important since moisture can cause mold growth and poor air quality. Leak detectors are used for finding hidden water leaks, including those in walls and crawl spaces. Other tools you can use are dehumidifiers and water extractors to help repair water damage.

What actions do I take when I first notice the damage?

Immediately following a water-related incident, call your insurance provider to inform him/her of the damage. If your home is severely damaged, determine whether it is structurally safe to enter. If not or you are unsure, immediately make arrangements to stay elsewhere.

What steps can I take to minimize the damage?

If your home is structurally sound and before the restoration professionals arrive, turn off your home's power, water and natural gas supplies. Cover damaged windows, doors, walls and roof areas with plywood or plastic sheeting to protect your interior from the elements.

Does water damage cause mold?

Water damage certainly has the potential to cause the growth of mildew and mold. Because mold thrives in moist and warm environments, any place that is wet (and especially humid) is a perfect place for mold to grow.

How can I prepare for expected water intrusion from a storm?

The best way to keep water from becoming a major problem is to prepare your property before the damage occurs. One thing you should be sure to know is how to cut-off the power in your home in case of a flood. Water and electricity are a deadly combination.

How can I help speed the repair of my home and property after a storm?

Documenting your property's damage and relaying the information to your restoration professional can make for a speedier repair. Inspect the exterior of your home for damage. Check out your roofing structure and document any shingles missing or in need of repair. Also note if your chimney or the flashing surrounding it is damaged or missing and list any damages to your gutters. Check your home's siding for warped or loose boards. Note signs of water intrusion through your home's windows and doors and don't forget to check the access points to your basement.

How can I remove standing water easily?

The first step to removing standing water from within your home is to sweep it outdoors. Any standing water left on carpeted areas should quickly be removed with a wet-vac. The removal of standing water is crucial for salvaging your home's carpeting and could save you money.

How does the water removal process work?

Several steps are taken to remove water from your property in the event of a flood, hurricane or other water-related disaster. First, the water will be removed from the property. Once the water is removed, a dehumidification process will begin to dry the wet areas. Next, evaporation of the water will occur, and, finally, the air will be tested to ensure that all water and moisture is gone from the property and won't cause any further problems.

Other processes involved with water damage restoration include wet carpet restoration, odor control, fabric restoration, mold remediation, and dry wall and wood floor restoration.

What are the different categories of water?

There are three basic categories of water. The type of water in your property will help determine the extent of the damage and how the water will be removed.

The first category of water is clean water than poses no harm to people. This includes water damage caused by a sink or bathtub overflow or an appliance malfunction.

The second category of water is called gray water. This category includes water that has a significant amount of contamination, which can be chemical, physical and/or biological. Gray water can cause harm and illness to those who are exposed to or drink it.

The third category of water is known as black water. This water is very unsanitary and contains pathogenic agents coming from other contaminated water sources. It can cause discomfort and illness to those who are exposed to or who drink it. Black water can come from sewage and flood waters from rivers and streams.

What should I do to protect my valuables?

If your home is too damaged to secure, remove valuables to a storage facility or the home of a trusted friend or family member. If your home is secured against intrusion, transfer valuable belongings to a safe and dry place within your home. Relocate water-damaged items, such as furniture, clothing and rugs, to an area of your home that is dry.

Does home maintenance really make a difference in preventing water damage?

Even the most highly conceptualized and well-built home cannot protect you 100 percent from water intrusion and the resulting damage, but a well maintained home can protect you from most water incidents, excluding severe emergencies. Routine maintenance and seasonal inspections of roofing and siding as well as other vulnerable areas can pinpoint potential problems before they can allow for water infiltration and damage.

How do I hire a professional restoration company?

Hiring a professional restoration company is important to ensure proper care for your property. Most insurance carriers will specify a list of restoration companies available to you and some may allow you to choose a restoration company from your own research.

Professional restoration companies will have available to you a list of industry organizations to which they belong and certifications they carry. Many professional restoration companies will also have examples of their work for you to view. In the case of disaster restoration, checking references may not be advantageous. But, rest assured that industry associations have strict guidelines and verify that members follow them.

ACCORD Restoration specializes in clean-up, repair, restoration and rebuilding after fires, floods, storms or natural disasters. We offer reliable, 24/7/365 emergency services carried out with expert craftsmanship.

To learn more visit http://www.accordrestoration.com/

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