Who says we only get one successful career? Steve Spector, who has spent his adult life amassing a fortune in the life insurance industry, has reinvented what success can mean. Recently, he was featured in National Underwriter Magazine as the $2 Billion Man, and has partnered with HighCap Financial for nearly a decade.
When you’re speaking to your high net worth clients, they tend to take your opinion to heart.
Do your clients have enough life insurance? Of course, as their agent or financial advisor, you do your best to look out for your clients’ best interest, but recent information shows that there are certain groups of Americans who are not only underinsured, but also stand to lose the most in the case of an unexpected death. When a study from Genworth took a look at life insurance gaps among Americans, it identified four major consumer groups that may be in need of additional – or any – life insurance planning: unmarried parents, women, large families and those with certain common health conditions.
While logic would dictate that half of the human population is hardly considered a niche market, it seems that many insurance agents have tailored their sales pitch to male clients and need to reconsider their approach when working with women.
Being on the ball in regards to financial and retirement planning is key, but there are some mistakes that investors could make that could nullify those good intentions.
Many small business owners could testify to being time-poor, as they spend most of their waking hours thinking about and running their operations. While this is important for business success, owners also need to put some time into thinking about what will happen to the company when they are not around – whether because of retirement, injury or death.