Taking the business serious.

[Allen Trent]

I could never get coverage equal to my renewals,

I can help you fix that ratio problem you have. Assign a portion of your renewals to me & you will no longer be underinsured as a ratio of coverage to renewals. Learned this concept from listening to politicians on how to fix complicated things like this

 

[shonceman]

many of the friends & relatives I have that moved from CA to places like NV, Arizona, Texas, NM were definitely more liberal

And they’re all welcome here as long as they:

 

[Al3x Lee]

It's official subject has turned left.

Maybe it would be alright if you had a cape and stylish hair? That was literally the first thing brought up in the thread. You're taking this seriously, are you not?

 

[Life Hawk]

And they’re all welcome here as long as they:

View attachment 9917

Sad fact: Dumb people move too.

Sadder fact: They usually stay dumb.

 

[PrivClientSG]

I can help you fix that ratio problem you have. Assign a portion of your renewals to me & you will no longer be underinsured as a ratio of coverage to renewals. Learned this concept from listening to politicians on how to fix complicated things like this

I wish it were that easy...and not fraudulent, LOL. Plus, not all of my renewals are assignable. I looked at this years ago when the M group inquired about buying our shop. The PPGA renewals are and they are the most favorable. But not all the others. And...the DI policies in the marketplace today are not nearly as good as the ones from years ago. At least I don't think so. Maybe that pendulum has swung in the other direction. Not sure. Lifetime benefit has been priced out of the marketplace. I haven't looked at coverage for myself in several years. I have over 30k monthly benefit now, and some is increasing. I also have DI buyout with my partner. That we revisit every few yeara.

I often wonder about producers where their renewals are close to or more than a million. At a certain point, if you accumulate enough wealth outside the business, you can self-insure.

 

[Tahoe Ray]

I often wonder about producers where their renewals are close to or more than a million. At a certain point, if you accumulate enough wealth outside the business, you can self-insure.

Interesting question.

Renewals and trails come in if you're disabled or not, right?

So if one is almost 100% recurring revenue in a planning practice, how are they demonstrating a loss of income?

The outside wealth is an issue for most DI plans these days (for new policies). Most clients laugh when i ask if their net worth is 10 million+ but guess what, that question is on the app for a reason.

The industry agrees with you and the options will be severely limited.

 

[Allen Trent]

I wish it were that easy...and not fraudulent, LOL. Plus, not all of my renewals are assignable. I looked at this years ago when the M group inquired about buying our shop. The PPGA renewals are and they are the most favorable. But not all the others. And...the DI policies in the marketplace today are not nearly as good as the ones from years ago. At least I don't think so. Maybe that pendulum has swung in the other direction. Not sure. Lifetime benefit has been priced out of the marketplace. I haven't looked at coverage for myself in several years. I have over 30k monthly benefit now, and some is increasing. I also have DI buyout with my partner. That we revisit every few yeara.

I often wonder about producers where their renewals are close to or more than a million. At a certain point, if you accumulate enough wealth outside the business, you can self-insure.

I have known several PC producers that could collect on their DI policies as their income was still increasing because of the nature of levelized PC compensation. Knew 2 that also were paralyzed & were very thankful they bought the max they could to age 65 & it was a form of including overhead expense as it was based on their total insurance revenues, not their Schedule C net business income after expenses

 

[Allen Trent]

[EXTERNAL LINK] - Many California residents want to leave the state due to high costs

 

[Markthebroker]

[EXTERNAL LINK] - Many California residents want to leave the state due to high costs

Maybe Newsom figures that the best way to protect the environment is by chasing people out of his state?

 

[rmhaire]

Maybe Newsom figures that the best way to protect the environment is by chasing people out of his state?

Sounds like your environment oughta be looking pretty good about now