Continuing Education for Insurance Agents

Insurance professionals must complete a minimum number of insurance continuing education hours every 1-2 years. Insurance agents must check with their state to see when they are due and how many hours are required. The requirement differs from state to state. The classes an agent must take also differ depending on the license(s) they hold. The most common licenses agents hold are health, life, and property and casualty. Each license allows a producer to sell a different line of insurance depending on their clients needs. Usually, for each license the producer must complete different continuing education requirements depending where they live and do business. Life and health is usually bundled, but property and casualty is selling to a completely different audience.

Insurance educational training is a great way for agents to keep current with industry trends and also learn about new and upcoming products. Many agents have been licensed for 10+ years now and of course rules and regulations have changed. An agent may be committing insurance fraud or a crime and not even know it! Continuing education requirements are meant to benefit the insurance agency, the insurance agent and of course the consumer. The agency knows the agent is being ethical when selling policies to clients. The agent is current with all laws and new products available to their client and the client knows they are getting the best product possible. It is a win/win situation for all parties involved.

Continuing education for insurance agents is very important because the state can revoke your license if you do not stay in compliance. Every agent should know exactly when their continuing education credits are due and how many hours they need to complete to avoid any fines. To find out how many credits you need and when they are due you should contact your state authority or an approved provider. An approved provider will be able to look up your information with the state and help you select online courses to take. Online continuing education is usually the fastest and easiest way to complete your insurance education, especially if you are nearing your compliance deadline. Just confirm with your state that online continuing education is an option. Some states require you complete your education in a classroom. The only real benefit of completing your education requirements in a classroom is there is no exam at the end of the class. The drawback is sitting in a classroom for up to 24 hours!

Indexed Universal Life: Flexibility For All Phases of Life

In order for a financial vehicle to be worthy of all phases of a consumer’s lifetime, it must be liquid, it must have a proven track record (or rate of return) and it must have the flexibility to adapt to the consumer’s changing financial needs. Indexed universal life is a unique strategy that can provide all of these features and more. Let’s take a closer look at how IUL can be a fit for each phase of a consumer’s life: introduction, accumulation and preservation.

During the introduction phase, the consumer has usually completed their education/training and is eager to take on the world like a boxer lacing up his gloves for his first fight. This phase is usually the first step to the complete financial picture.

During this phase, the consumer has usually either started or is about to start both a career and family. Financial concerns are usually short term and the road map to retirement is in its rough draft. Concerns such as providing an education for the kids are usually the extent of long-term planning during the introduction phase.

Universal life can provide the perfect tool to accumulate funds tax deferred to help with a child’s education. IUL has the flexibility to contribute either as little or as much as the family can afford without financial consequences such as lapsing a policy.

This allows for the flexibility a young family may need in a struggling economy. In fact, IUL has become a preferred choice for college tuition plans, such as the 529 plan. Benefits include the ability to withdrawal the funds at any time without penalty and having no limitations on annual contributions (outside of MEC limitations). Mom and dad take comfort in knowing that if their child chooses an alternative option to college, they will not be penalized and will still have the capability to receive tax free withdrawals.

In the accumulation phase, the benefits of a universal life policy can continue to be advantageous. In this phase, the consumer is in the process of achieving long-term wealth and minimizing long-term liabilities. Consumers are using IUL as protection against the loss of a family’s income in the event of a breadwinner’s death.

Business owners can also benefit from cash value life insurance. They will often use this strategy to pay for business expenses that can be accessed in the form of a loan while avoiding federal income taxes. Additionally, many small businesses today are utilizing IUL as a way to protect themselves against the death of a business partner or key employee that would have a significant impact on the profitability of the business. Or the business owner can protect his family from a premature death, ensuring a financial remedy in the event of a catastrophe.

The ability to withdraw funds tax free and the luxury of protecting the breadwinner with an accelerated tax free death benefit is making the IUL more attractive than ever for families and financial professionals.

The final phase of one’s financial life is the preservation phase. During this phase, the consumer will be looking at exiting from the workforce and easing into retirement.

Most retirees entering this phase will have two major concerns today: rising income taxes and a bear market. Considering that most retirees will live on an income of approximately 70 percent of their average working income, their concerns are valid.

With our federal debt just recently exceeding $15 trillion, most feel that federal tax rates are likely to rise. When adding volatility to the equation, the retiree can easily find themselves in trouble, especially considering most retirement plans fluctuate in value with market performance and are usually taxable upon withdrawal. Because of this, retirees are turning to IUL as a means to bypass market volatility, enjoy moderate returns through both indexing and annual reset and have the ability to withdraw their funds exempt from federal income tax.

UIL can be a perfect fit for the three phases of one’s financial life: the introduction, accumulation and preservation phases. Regardless of which financial phase one is in, the IUL has the flexibility to adapt and conform to the changing needs of both the investor and financial professional.

Character Education For Kids is Very Important – Moral Education For Modern Day Children

Why Character Education for kids is so Important?

There has been a shortage of character education in schools and this is becoming more evident from the increase in the crime rate and violent incidents taking place all over the world. Studies those have been made in different countries and the subsequent research done by experts and NGOs go on to show that there is a dramatic “moral decline” in the western world including America and Western Europe as well as Australia.

Much of these destructive trends are a direct result of the modern day social ideologies and thought processes that perpetuate self-indulgence and gratification of ones own being. Modern day thought processes deeply believe in the statistical data and is therefore obsessed with the massive growth in the mass media, the online world and the social networking sites like Face book, Orkut, Twitter etc. Modern day kids often try and look for solving their problems on the net which results in utmost confusion and wrongful decision making by them.

Why is Character Education so important for modern day children? Children these days do not feel the necessity of seeking the advice of their parents and other elder and experienced people who are much more mature than they are. This is also true because most of the families have become nuclear families and parents working hard for long hours and they have very little time to spare for their children who are left in the lurch to fend for themselves in their lives of lonely solitude, grappling to find a solution to each and every problem they encounter all by themselves. Children these days are losing faith in the concept of the absolute truth which every young individual is keen to find out. Therefore, because of this, the kids come to the conclusion that whatever works out for them in the short term is the right thing to do and things that do not work for them well is rejected by their subconscious minds to say the least.

With the growing disrespect for their parents and other elders who are seldom available, there is a shockingly overindulgence in sexual activities, increase in the number of abortion cases, there has been a big rise to self destructive habits and tendencies which manifest themselves in the form of suicidal attempts, taking recourse to drugs and alcohol thus resulting in their abuse and addiction, and many other types of destructive human behavior in modern society mostly in the big cities which emphasizes that there is a major concern and an urgent need for the introduction of moral education and in the school curriculum of every educational institution.

With rising competition in schools for getting better grades, moral science and character education as educative subjects have been losing its sheen and are being ignored. It is a subject that develops a person’s character traits and personality and yet it has not been made a compulsory subject. Because of this, we have seen a dramatic rise in the cases of instances in school violence, which are fatal and non-fatal crimes like rape, sexual predators, break in burglary etc. as well as serious assaults and racial discrimination’s as seen with the Australian students in recent times.