2024: A ONE Idea Year in Review
As another year comes to a close, we pause to reflect on 2024 and find that reviewing our ONE ideas helps us to evaluate the last 365 days. Our ONE Ideas convey what is happening in the industry and what is on the mind of our AgencyONE 100 advisors and their clients and are an important part of our communication to our advisors.
2024’s ONE Ideas presented interesting advanced market concepts, case design scenarios, and underwriting information and case studies. We are pleased to provide this annual review and hope that it offers you some insight, answers, and/or ideas for your existing or future cases.
Remember: any of the following ONE Ideas may be customized to be business and/or client-facing for our AgencyONE 100 advisors.
Business Planning / Sales Ideas
A 2023 Review & My 2024 Predictions – Jan. 23
At the beginning of the year, Gonzalo Garcia, CLU highlighted some key items that emerged from previous years that might continue to create both opportunities and challenges in 2024: higher interest rates on products, annuities, the Great Wealth Transfer, and more. He also included his personal 2024 predictions for each category. We encourage you to review this ONE Idea to see how his predictions for the year measured up!
Our Financial Planner Said We Didn’t Need Our Life Insurance When We Retired…Then My Husband Died – Feb. 16
In this ONE Idea, Gonzalo analyzed an article in Kiplinger Personal Finance by Evan T. Beach, CFP, AWMA about the author’s perspective and answer to the question “If You’re Retired, Do You Still Need Life Insurance”? Gonzalo poses some questions to consider when contemplating the use of permanent life insurance during retirement and his opinion on the original article.
A Financial Wellness Primer – June 7
The models of wellness have 6 dimensions, but The National Institutes of Health adds another: The Financial Dimension. In this article, Gonzalo focuses on financial wellness, how to maintain it, and highlights the types of insurance that contribute to one’s overall financial wellness: Health Insurance, Long-Term Care Insurance, Life Insurance, and Disability Insurance. You must read this article!
The Best Laid Plans of Mice & Men: Generational Wealth Planning – Dec. 13
As generational wealth professionals, in collaboration with attorneys, accountants, and other financial advisors, best intentions for clients can sometimes go awry. This piece discusses: the causes based on study conclusions, dynastic and purposeful planning, the option of having a family treasury, and more.
Estate & Tax Planning
Retirement Planning: It’s All About Taxes – May 9
In this ONE Idea, Gonzalo Garcia, CLU discusses the role that taxes play in determining how much money there will be in retirement and the planning that is required to help maximize what is kept and minimize what is paid in taxes. Learn about the various “buckets” and the retirement mistakes to be avoided.
Is Your Client’s IRA an IOU to the IRS? – Sept. 5
Gonzalo discusses the taxable income that is created by clients with IRAs and 401K distributions and the alternatives that can be considered by financial planners and their clients who are willing to embrace them. He goes on to say that any advisor who wants to do “right” by his/her clients has complete transparency into their taxes, considers account tax cost ratios when making recommendations and reviewing portfolios, and recommends solutions that address present & future taxes.
Accessing Home Equity for Financial Alternatives – Nov. 11
This article focuses on a new program – CHEIFS – available to advisors with clients who want to consider accessing their home equity for financial planning alternatives such as life insurance. Converting Home Equity Into Financial Success (CHEIFS) is offered by Cornerstone Financing, an insurance and investment funding company, and presents a huge opportunity for financial advisors to have a new and different conversation with clients. This is NOT a reverse mortgage conversation; this is a totally new offering and a MUST-READ ONE Idea!
Case Design & Product Intelligence
LTC/Chronic Benefits Using 1035 Funds – Feb. 23
This ONE Idea by Ed Stark, CLU, ChFC highlights the undeniable value and huge potential in doing regular policy reviews with your clients. This article drives that very important message home and discusses a case that resulted in success for both the client and the AgencyONE 100 Advisor. Make sure to check this out!
Hybrid/LTC Products & LTC Rider Options: The First in a Series of ONE Ideas – Apr. 22
In this ONE Idea, Ed discusses Hybrid/LTC products, their rider options, and what’s available in the marketplace. He focuses on Lincoln, Nationwide, OneAmerica, & Securian and their basic product specs and features. Make sure to read this informative article to help you determine which carrier & solution is best for your clients’ needs.
Hybrid/LTC Products & LTC Rider Options: Part 2 – Lincoln Financial – May 22
In the second in a series of articles about the subject, Ed takes a deeper dive into Lincoln Financial’s Hybrid LTC solutions through an interview with Lincoln MoneyGuard’s VP, Timothy Lockwood, RICP, CLTC. Have a look to find out what sets MoneyGuard apart from other solutions, its target markets, the most popular designs, product niches, and more.
A Pacific Life Solution You Need to Know About – Horizon IUL 2 – Sept. 27
In this product-specific article, Ed highlights an exciting IUL solution from Pacific Life. The Horizon IUL 2 replaces two of their previous products making it much easier for advisors to choose the correct option for their cases.
Hybrid/LTC Options Now Available & Overview of New Upcoming Changes at OneAmerica – Oct. 15
The popularity of Hybrid/LTC options continue to grow. Carriers are increasing product flexibility and improving options as consumers prioritize this kind of coverage. In this article – part of the series on Hybrid/LTC solutions – Ed focuses on OneAmerica’s options in the category – what sets OneAmerica apart from other carrier solutions, what is the target market, what is the most popular design, and details on annuity care.
Selling Term: Lowest Cost, Comparable Cost or Higher Cost with More Benefits? – Nov. 22
Term insurance continues to be a popular choice for many clients, however, it is important to review term comparison sheets to really understand the difference between product solutions and the pricing variations. Ed explores sample cases and breaks down the details from comparison sheets in this very informative piece of product intelligence.
Underwriting
Prostate Cancer: Forget the Defense…Let’s Go on Offense – Jan. 12
Dennis Bartos, PA began 2024 with a ONE Idea that discussed Prostate Cancer – what it is, its diagnosis, treatment, and how it is underwritten at AgencyONE and the carriers. It also includes two very real case studies that show how AgencyONE evaluates these cases.
Coronary Artery Disease (Part 1) – Mar. 6
In this first of a two-part series of ONE Ideas, Dennis focuses on Coronary Artery Disease (CAD) and discusses: what it is, the methods for diagnosing CAD, the inherent risk factors underwriters assess, a case study, and how an informed AgencyONE 100 Advisor and their clients can help to positively affect the outcome of their cases.
Coronary Artery Disease – Diagnosing & Underwriting the Risk (Part 2) – May 17
In this second part of the CAD ONE Idea series, Dennis provides a recap on the disease and poses specific questions and answers about CAD that are designed to improve your field underwriting knowledge. Be sure to review this ONE Idea to brush up on Coronary Artery Disease.
Is Life Insurance Possible After Skin Cancer – June 17
Dennis discusses the most common cancer in the US in this ONE Idea – skin cancer – the chances of getting it, the types of skin cancer including the most dangerous kind, what AgencyONE is seeing during underwriting, 2 real case studies, and how they were underwritten. You will want to read this article for all the details!
Memory Loss – Do I Have Alzheimer’s? – Sept. 19
In this article, Dennis talks about the difference between normal age-related memory loss and more severe conditions such as mild cognitive impairment (MCI) or the even more concerning disease of Alzheimer’s. He goes on to discuss diagnosis, how the conditions are treated and underwritten, and real case studies. There is a lot of excellent information in this article for your older age clients!
I’ve Read About Them, But Should I Get a Total Body Scan? – Oct. 25
In this article, Dennis explores total body scans, their growing popularity with the general public, when and if they are a good preventative health screening, how their existence can affect underwriting, and a case study for a client who had one. This is a must-read.
3 Important Underwriting Reminders for Year-End & Beyond – Nov. 14
With the rush to year-end, Dennis thought it important to reiterate some important underwriting reminders about routine physician appointments when your client is in underwriting, the importance of using Accelerated Underwriting Programs (AUP) where applicable, and the important client-facing materials that are available to your clients to help them sail through the underwriting process. This is a must-read article for any time of year!
Annuities
AgencyONE’s 2024 Annuity Outlook – Feb. 9
In this ONE Idea, Craig Baumgartner, RICP discusses the increased activity among our AgencyONE 100 advisors and their clients in the annuity space in 2023 and how the interest rate environment continued to propel annuity sales. He discussed what experts thought 2024 would bring for annuities and reminded readers that if you are still not talking to your clients about annuities, someone else will. It is important to continue to educate yourself about annuities so that you do not leave opportunities on the table!
Hidden 1035 Opportunities: Don’t Miss Out on Creating Joint Benefits – Mar. 15
In this ONE Idea, Craig explores some lesser-known opportunities and the rules and workarounds available for your clients who want to create joint benefits by exchanging an existing individual policy via a 1035.
In July we announced our new annuity offerings and newest resource to AgencyONE’s annuity team, Sal Sigleski, due to our partnership with Brokers Service Marketing Group (BSMG), which resulted from our acquisition by the Specialty Program Group (SPG). This partnership has enabled us to dramatically improve the Annuity Services we offer our AgencyONE 100 advisors. For more information, please view the original announcement HERE and be on the lookout for an upcoming webinar with Sal on how he and his team will help you STREAMLINE & GROW your annuity business.
Marketing
Does Your Business Have a Social Media Presence? A Platform that Makes it Easy – Mar. 25
In this ONE Idea, Lisa Mitchell discusses the popularity of Social Media marketing for businesses and how the practice can reach a wider audience and build relationships while deepening existing ones. Social Media marketing has become the most popular way to market, but a business needs to consider a number of things before taking the leap. Read this ONE Idea to find out what those things are and about a platform that helps.
We wish you and yours a happy, healthy, and safe holiday season and a New Year full of blessings, possibility, and prosperity!
AgencyONE looks forward to providing more terrific content in 2025. Please contact our Marketing Department at 301.803.7500 for more information or to discuss a case.
