Camp Hill, PA. (PRWEB) January 30, 2009
The Securities and Exchange Commission's recently enacted Rule 151A will mean significant changes to indexed annuities sales when it goes into effect but insurance producers and wholesalers have time to get ready and even prosper. In a question-and-answer presentation being released today, InsuranceNewsNet and the Insurance Insight Group show how professionals can maximize opportunities before 151A goes into effect on Jan. 12, 2011, and help explain the background of the ruling itself.
When the SEC enacted the rule on Dec. 17, many observers were forecasting the destruction of the indexed annuities market because producers will be required to have a securities license to sell them. Producers and wholesalers will learn in this presentation about a five-part action plan to position themselves during the large window of opportunity before the ruling goes into effect. The key is professionals need to get started right now.
Here are the five key points:
Keep selling: Insurance professionals have nearly two years before the rule goes into effect on Jan. 12, 2011. Not only is it a substantial time horizon for sales, but also for countermeasures to overturn the rule.
Diversify indexed products: Indexed annuities producers can incorporate other indexed products the SEC will not be regulating. For example, the commission specified that it will not be overseeing indexed universal life insurance.
Sell traditional fixed annuities: Consumers are flocking to traditional fixed annuities for safety during the recession. It is an opportunity no producer should miss.
Consider a securities license: Not only will this allow indexed annuity sales when and if 151A goes into effect, it also opens up a world of financial advisor opportunities.
Sell life insurance: Survey after survey has shown American families are underinsured, representing an enormous marketing opportunity, especially during times of economic uncertainty.
Steven A. Morelli, InsuranceNewsNet senior editor, discusses the background into the rule and also why 151A is vulnerable to overturning. Steve has more than 25 years of experience as a news reporter and editor. He was also vice president of communications with an insurance producers' association.
Chris Conklin, principal and actuary with the Insurance Insight Group, explores the five-part action plan producers and wholesalers can use to protect themselves and even thrive in face of the rule. Chris has more than 20 years of extensive experience developing life and annuity products and training producers on the best sales techniques.
InsuranceNewsNet.com is a Web-based publication for insurance producers, executives, and industry professionals in the life, health and annuity industries. The site is visited by more than 600,000 insurance professionals per month and offers readers real-time news, sales strategies, and market research on a daily basis.
About Insurance Insight Group
Insurance Insight Group's creative, experienced marketing people help independent insurance marketing organizations and carriers grow their businesses by providing solutions for improved recruiting, training, sales and marketing strategies.
For more information, contact:
InsuranceNewsNet.com: Rob Billingham at 717-441-9357, ext. 118 or Insurance Insight Group: Mark Stone at 801-290-3333.
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