Life insurance is an amazing invention. It truly is a miracle, and here’s why. Life insurance is the only financial instrument I know of where, with a few strokes of a pen and a few pennies per thousand dollars of death benefit, you can create an estate immediately.
The crowdfunding website GoFundMe says it has raised $4 billion for people in need, helping to build funds that go toward final expenses and raising money for surviving family members. While it’s great to see an outpouring of love and support for people in a time of need, I hope that people don’t come to see GoFundMe as a replacement for life insurance.
Penn Mutual achieved a major milestone this week when we processed our first life insurance policy on our innovative, new accelerated client experience. The new client experience requires no medical testing for many individuals and can take as little as 24 hours from application to payment, compared to an industry average of 30 days or more! The experience eliminates all the paperwork and delays that slow the current life insurance application, underwriting and policy delivery process.
According to research by LIMRA , 41 percent of millennials think they don’t qualify for life insurance. I find that shocking, and I take it as a challenge. We in the insurance industry need to do a better job communicating the value of life insurance to younger generations. Ironically, millennials are probably among the best possible candidates for life insurance.
The financial services industry presents an incredible opportunity for Millennials looking for not just a job but a career. The demographics of our industry alone make a compelling case. In a previous blog post, it was noted that the average adviser is over age 50 and approaching retirement within the next ten years. We are going to see many of those practices needing to be transitioned and eventually succeeded, and Millennials like myself are well-positioned to take advantage of that. But there’s more to this than just demographics.
As the summer comes to a close, I am reflecting on my experience as a human resources (HR) intern at the Penn Mutual Life Insurance Company. I was one of 25 interns from across the country that spent this summer with Penn Mutual — the biggest class of interns yet!
Saving for college is an excellent strategy, but parents often don’t realize that there are some ways to save that are better than others. There are times when having too much savings can reduce your child’s chances of qualifying for financial aid for college. In addition to the death benefit protection it provides, life insurance can be useful in helping to fund college.
We live in the era of social media. It pervades our lives, shaping it in ways we hardly recognize. Small business owners may hear “they need to be on social media,” but they often don’t know where to start or what to do. Here are five simple steps to getting started with social media.
Maintaining your business’s financial health is a lot like preserving your physical health; you need to schedule regular checkups to make sure everything’s running smoothly. With the year half over, it’s a good time to hit the pause button and assess how well your business is doing.
I wrote recently in The Hill about how retirement is like climbing a mountain. The peak of the mountain is your retirement date, and the ascent is the struggle to earn and save along the way. Of course, getting to the top of the mountain is only half the journey. Once you reach the top, you still have to work yourself safely down.
Eileen C. McDonnell
David O’Malley
Leanne Acton
Michelle A. Barry
Franklin Best
Keith Bratz
Raymond Caucci
Jessica Choi
Joshua Coleman
Matthew Condon
Cheryl D. Creuzot
Susan Deakins
Gretchen Dinucci
Greg Driscoll
Michael Dunne
Michael Durkin
Stacey Fabricant
Frannie Gardner
Thomas Harris
David LaBricciosa
Chris Lyman
Keith Huckerby
Tod Lashway
Jeff Leinen
John Laurito
Roy Lenzo III
Michael Kelhower
Andrew Martin
Jim Meehan
Alida Moose
Margaret Muldoon
Danny Noles
Susan Notaras
Lisa Powell
Dave Raszeja
Sheri Rhoades
Kristen Thomas
Adam Paoli
Allan Sternberg
Maury Stewart
William Stevens
Dennis Wilson