Mass mutual life insurance company: 2010

Thursday, December 30, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

Obaid Karki An Outcast Underdog Libertarian Diogenesist Kabbalist Spinoziste Qutbist Pantheon Hexalingual Automath Former UAE Under Secretary Independent Street-Knowledge Urban Talking-head. Unaffiliated to a State, an Organized Religion Group, a Sect or a Kin and an Anti Tribal Gentile. Every phrase is an earnest verdict. Thats my bio. If you dont agree with me thats an honor. It is immoral to appease to please. My word hurts big time because it is quality of a moment of truth US Conspiracism is a Grassroot Religion alas belief masterminded by the Establishment to Worthy the Worthless. This in-thing is sold as Partisanship to the Unemployables for free. Its the Disneyfication of the Mass to glorify a Legacy of Ghosts as Rothchild, Bilderberg, English royalty etc. Neither Mainstream Media & nor Hollywood or the Publisher's Clan would be outsourced to such task simply because they are assigned to edutain the Untalentable Aristocrat Urban Parasites. AIG American International Group, Inc. (NYSE) Google Finance Yahoo Finance MSN Money AOL Finance CNN Money Reuters 3.51 0.36 ( 9.30%) 7 Oct 4:00pm ET Open: 4.22 High: 4.22 Low: 3.51 Volume: 90285327 Avg Vol: 218654000 Mkt Cap: 9.44B Disclaimer After Hours: 3.54 +0.03 (0.85%) 7 Oct 7:59pm ET Crisis strengthens Manulife's hand in AIG bid Manulife and other insurers are expected to bid for AIG divisions as early as this week, they said. The American insurance giant is under pressure to sell Former AIG Executives Get Harsh Criticism ...

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Tuesday, December 28, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Saturday, December 25, 2010

Knights Founded 1882.mpg

The Knights of Columbus is the world's Largest Catholic Fraternal service organization. Founded in the United States in 1882, it is named in honor of Christopher Columbus[1] and dedicated to the principles of Charity, Unity, Fraternity, and Patriotism. There are more than 1.7 million members in 14000 councils, with nearly 200 councils on college campuses. Membership is limited to "practical Catholic" men aged 18 or older.[2] Councils have been chartered in the United States, Canada, Mexico, the Caribbean, Central America, the Philippines, Guam, Saipan, and most recently in Poland. The Knights' official junior organization, the Columbian Squires, has over 5000 Circles. All the Order's ceremonials and business meetings are restricted to members though all other events are open to the public. A promise not to reveal any details of the ceremonials except to an equally qualified Knight is required to ensure their impact and meaning for new members; an additional clause subordinates the promise to that Knight's civil and religious duties. In the 2005 fraternal year the Order gave US$136 million directly to charity and performed over 63.2 million man hours of voluntary service. For their support for the Church and local communities, as well as for their philanthropic efforts, the Order is often referred to as the "strong right arm of the Church". The Order's insurance program has more than $60 billion of life insurance policies in force and holds the highest insurance ratings ...

http://www.youtube.com/watch?v=-d2O0cTPd9Q&hl=en

Thursday, December 23, 2010

Toys for Tots at MassMutual with Mike Fanning and Diana Rudd

Diane Ruddick, vice president of field operations at Massachusetts Mutual Life Insurance Company (MassMutual), and Michael R. Fanning, executive vice president of MassMutual's US Insurance Group look over some of the toys donated by MassMutual employees for the annual Toys for Tots drive. Marines picked up the toys at MassMutual's headquarters on State Street in Springfield, Mass. on Wednesday, Dec. 15.

http://www.youtube.com/watch?v=lVRqq5k3Gz0&hl=en

Tuesday, December 14, 2010

Authors@Google: John C. Médaille

"Toward a Truly Free Market: A Distributist Perspective on the Role of Government, Taxes, Health Care, Deficits, and More" Taking "free markets" from rhetoric to reality For three decades free-market leaders have tried to reverse longstanding Keynesian economic policies, but have only produced larger government, greater debt, and more centralized economic power. So how can we achieve a truly free-market system, especially at this historical moment when capitalism seems to be in crisis? The answer, says John C. Médaille, is to stop pretending that economics is something on the order of the physical sciences; it must be a humane science, taking into account crucial social contexts. Toward a Truly Free Market argues that any attempt to divorce economic equilibrium from economic equity will lead to an unbalanced economy—one that falls either to ruin or to ruinous government attempts to redress the balance. Médaille makes a refreshingly clear case for the economic theory—and practice—known as distributism. Unlike many of his fellow distributists, who argue primarily from moral terms, Médaille enters the economic debate on purely economic terms. Toward a Truly Free Market shows exactly how to end the bailouts, reduce government budgets, reform the tax code, fix the health-care system, and much more. About the Author John C. Médaille is the author of The Vocation of Business: Social Justice in the Marketplace and an instructor at the University of Dallas. He writes and lectures ...

http://www.youtube.com/watch?v=X1PtStipIsc&hl=en

Monday, December 13, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Saturday, December 11, 2010

How Life Expectancy Affects Retirement

Retirement planning is notoriously difficult because it requires you to plan for an estimated period. You cannot know if you would spend 5 or 35 years in retirement- or if you would even get to retire at all. This is where life expectancy is valuable. You can use life expectancy as a guide to retirement planning and issues surrounding it. In addition to this, there is a clear link between retirement age and life expectancy, according to research conducted by LIMRA.

You should base the period that you plan for retirement on your expected life span. Retirement planners normally suggest that you should cater for a minimum of thirty years of retirement. This is not too far-fetched. For instance, the average age of death for a male in the U.S. is close to 80 years. This suggests that some men have lived way beyond this average. To be safe, you should cater for living to 90 at least. That means that if you retire at 50, you should definitely plan for 30-plus years.

You can estimate your minimum retirement period from the average life span. Some might argue that some life spans do not reach near the averages. That is quite right. However, it is prudent and wise to plan for too long than too short. If you plan for a longer retirement and die sooner, you will leave an estate. If you plan for a short retirement period and live longer, you will be begging for bread.

The combination of retirement age and life span is the best gauge for your planning period. Research by LIMRA indicates that early retirees live longer. Those who retire at 50 can expect to live until 86! A 60-year old retiree can expect to live up to 76, while those who push the envelope and retire at 65 can expect to live until 66. This does not mean that later retirement requires little or no planning, however. You could be one of those who live way past the averages.

Gender differences in life spans also affect retirement plans. Women should plan for a longer period than men should. The corollary of a longer life for women is that they receive lower annuity payments and retirement benefits. Women with male partners also have to consider the impact of life expectancy on their retirement circumstances. Married women are more likely to survive their spouse and should anticipate this.

The higher life expectancy average also increases the various risks associated with retirement. Retirees have a greater risk of outliving their savings, having inflation devalue over a longer period and spending a longer time with health concerns. Living longer is a double-edged sword. There is more time in retirement to enjoy but greater risks and potential burdens to bear as well.

Thinking about life expectancy also has implications beyond health and finances. Retirees must think about how they would remain socially active, especially when those in their social circle may fall ill or pass away. Those with a longer life span have a higher risk of becoming more isolated as time goes by. This is both a social and psychological issue that should be addressed as a function of life expectancy.

It is not just that life expectancy affects retirement, but that retirement affects life expectancy. The relationship between the two is necessarily reflexive. Considering life expectancy is important when gauging your retirement period, circumstances and retirement risks. A robust retirement plan includes life expectancy consideration- leading to a better-prepared retiree.

Wednesday, December 8, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Tuesday, December 7, 2010

The Process of Change in Marketing Approaches

In a world economy that is in constant flux and undergoing turbulence, more companies are realizing that their most precious asset is their customer base. An even more important realization is the need to satisfy the whims and fancies of these customers in order to survive in these increasingly competitive markets. Organizations that do not act on this dictum have suffered the loss of market share or worse, total annihilation. Such dire consequences have awakened many organizations to rethink the way they see marketing. Thus, there is urgency for an organization (be it products or service providers) as a whole to develop appropriate holistic customer-focused strategies to ensure that the customer remains at the core of their organizational thinking.

With the rapid advancement of information technology (especially the rise of the Web) and the increasing difficulties of meeting customer's needs and wants (for example, their expectations of 24 / 7 customer service especially for online transactions), there is a shift from a traditional marketing approach to customer targeted marketing. Many organizations and marketing consultants are emphasizing the need to allocate more funds to apply new-found knowledge of consumer behavior in new products development, build better customer relationships through customer loyalty and retention programs.

This purpose of this paper is to raise the awareness of the need to concentrate marketing efforts towards the customer rather than the inward-looking traditional product-focused arrangement. And more importantly, the paper will shed light on how an organization could go about in making this important transition in this current competitive market.

Marketing Approaches Explained:

Before I proceed to discuss the shift in the marketing approach, it will be appropriate to explain briefly the two marketing approaches separately for greater clarity.

Traditional Marketing-The 4 Ps of Marketing:

The marketing mix or what is commonly known as the 4 Ps is a framework for marketers to implement a marketing concept. It consists of a set of major decision areas that a company needs to manage in order to at least satisfy consumer needs. According to Kotler et al. (1999), the mix is a set of "controllable tactical marketing tools [...] that the firm blends to produce the response it wants in the target market" (p.8). Hence, in an effective marketing program, all of those elements are "mixed" to successfully achieve the company's marketing objectives.

The traditional marketing mix contains four major elements, the "4 Ps of marketing". As defined by Kotler et al. (1999):

1.Product: Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. In includes physical objects, services, persons, places, organizations and ideas.

2.Price: The amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service.

3.Promotion: Activities that communicate the product or service and its merits to target customers with a view to persuading them to buy.

4.Place: All the company's activities that make the product or service available to target customers.

With the rapid changes surrounding organizations, the traditional marketing mix of the 4 Ps has been criticized for being too myopic in this current market situation. The traditional marketing mix has also been disparaged for being too product-focused and for taking an overly inward-looking strategy with regards to the organization's resources and capabilities in production matters. This is antithetical to attending to the more important organizational goal of satisfying the desired needs and wants of customers.

In addition, the Web and E-commerce revolution has played a major role in alleviating customers' ability to shape their relationships with the company. This has led customers to expect companies to market their products and services in ways that reflect more directly their individual needs.

These changes have prompted enterprises that wish to stay ahead of their competitors to shift their traditional marketing approach to customer-targeted marketing.

Customer Targeted Marketing:

In customer targeted marketing, the customer becomes the central focus of the organization's strategy and activities, rather than the product itself (which is the prime concern in traditional marketing). The organization's paradigm shift in marketing requires a company to build a commitment to quality and to listen critically to the customer to determine the market needs and how the company can meet those needs more effectively.

One of the major characteristics of the approach is to focus on each customer's interests and interactions with the organization to deliver targeted, personal messages. This would require the company to be constantly gathering information about their customers in an effort to better serve them and, most importantly, to retain them as loyal customers. As suggested by Peppers and Rogers (1998), the organization would need to use various techniques and strategies (possibly with the help of information technology and the Web), such as focus groups, in-depth interviews, customer surveys, attitude testing and so on to obtain information about consumers for more effective marketing of a product or service. With these customers' data and feedback, the organization will apply the knowledge to develop more customer-centric products and services and/ or to improve existing ones. In addition, the information will be shared within the organization to encourage employees at all levels to focus on creating maximized customer value and loyalty.

Why Customer-Targeted Marketing?:

In order to have a competitive edge and to satisfy increasing levels of customers' desires, companies realized that they have to see their customers as individuals rather a homogeneous mass of similar tastes, values and buying behaviors. Due to such transformation, companies need to be more customer-focused in its overall marketing strategy. This has resulted in organizations adopting a customization strategy to increase customer's loyalty to their products and services. For example, in banking and insurance industry, there has been a move towards greater customization. Standard products/services have been given way to a varied menu of features from which customers may select their own preferred combination.

In view of these changes, companies that understand the asset value of each customer, and that tailor their marketing efforts (and their costs) to acquire and sustain the highest-value assets, will win over less-adaptable traditional marketing approach of the 4 Ps.

The Process of Transition:

In order to strategically change from a traditional marketing approach to customer targeted marketing, an organization must be aware of these following areas:

Paradigm Shift. A company must fully understand that customer targeted marketing requires a shift in the organizational mindset, and not just structural organizational changes. They must realize that their sole purpose is to continuously satisfy customers' needs and wants. Thus, to ensure a smooth transition from a traditional marketing approach to customer targeted approach, an organization must reflect and ask itself questions as to what areas need to be analyzed and to understand the ramifications of such a transition in the organization. On the other hand, an organization needs to realize the negative consequences for not willing to be a more customer-focused marketing organization.

Customer Targeted Planning. As in any organizational change initiative, proper planning is needed. The objective of planning customer-centric marketing strategies is to find win-win opportunities with customer and to identify the best mutual opportunities for your customers and your company. This requires the organization to see the issue(s) from the customers' perspectives and to strategically plan the organization's resources around them.

In short, the organization's shift to customer-targeted marketing should embrace these three important points:

1.Planning should focus on customer wants and not looking inwardly at company goals

2.Focus on the honest feedback and suggestions through creating different channels of communications. Listen to the customers, rather than forcing them to listen to you.

3.Integrate your customers in every aspects of your business, from new product design to after-sales services and more.

Organization-wide Responsibility. For the approach to be successful, members need to understand the new philosophy of marketing and embrace it organization-wide. Many organizations tend to underestimate the degree to which every facet of the enterprise needs to be involved in the process and to be integrated into the actual customer relationship.

Organization Redesign. An organization has to assess the roles of all functional departments interacting with customers to ensure that they add value to customers instead of increasing the costs. By reorganizing the company with the customer as the focus, many departmental roles and responsibilities will have to be redesigned. And when that happens, the employees will have to adopt new work processes that would be more customer-centric in nature.

Human Resource Training. There is a need to develop customer-focused human resource through customer behavior training, across the functional departments. By investing in such training at all levels, the members will be more knowledgeable, more autonomous, and more efficient in anticipating and meeting the needs of the customers.

Use of Information Technology. With the advancement and increased affordability in information technology, more companies are able to collect available data on customer purchase behavior more efficiently. For example, technologies ranging from checkout scanning to Internet cookies are commonly used to track customers' buying behaviors. Companies that employ such technology will be more adept at acquiring new customers, retaining existing customers, and cross selling than those who do not.

Enhanced Customers Communications. With the use of the Internet as a medium for targeted communication, this allows companies to be in touch with customers at less than one-hundredth of the cost of more traditional snail mail, brochures or flyers. Communication through emails with the customers is almost free, and the customers can retrieve communications almost immediately. However, this has also resulted in customers having 24 / 7 service expectations of these companies.

Customer Targeted Measurement. An organization must be able to measure and evaluate the success of their customer targeted marketing strategy. In most cases, traditional measurement techniques such as profitability, market share and profit margins are used to measure the success. There should be an added emphasis given to developing measures that are customer-centric and which are able to assess the marketing strategy. Customer acquisition costs, conversion rates, retention rates, customer sales rates, loyalty measures and customer share within a brand are some examples of customer-centric measures than a customer-focused organization can adopt

Conclusion:

The need for survival has provoked many organizations to shift from traditional to customer targeted marketing. The market conditions surrounding us will continue to change at an accelerating rate and customer's expectation will continue to rise. Hence, without any doubts, more and more companies will adopt a customer-targeted marketing strategy with increased intensity.

Monday, December 6, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Friday, December 3, 2010

Tips Booklets For Overlooked Boomer Women

An interesting article was in a recent Ad Age ezine about missed opportunities in marketing to the highly desirable demographic of women aged 50-70. The article talked about how few companies are effectively doing so, considering these women (I am among them) are important decision makers, are consumers of lots of things, and have more time and money to follow up on their interests. The one company positively cited for doing a good job of reaching this group of people was Mass Mutual insurance company.

What's this got to do with tips booklets? Think about your topic or topics. Is there anything there that a woman in her 50's-70's would find particularly valuable? When considering the vast range of tips booklets that have been written and are in the process of being written, there's very few of those booklets that would not be good for a company, association, or publication to use as a promotional tool for their product, service, or cause.

You may need to specifically frame the use of your tips booklet that way for that part of the population when speaking with a marketing or sales manager at a company, or a membership chair at an association, or the circulation manager of a publication. These companies want to increase their market share, launch a new product, and keep their brand in front of people. Your tips booklet can help them do that. Associations want to keep their members and add new ones. Your tips booklet can help them do that. The same goes for subscribers of print magazines. Your tips booklet can help them do that. And each of these entities has large universes, which means large sales for you.

Thursday, December 2, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Monday, November 29, 2010

Why Technical Indicators

The fight continues to rage among traders who
use technical indicators and those who prefer
fundamental information to establish new
positions and to exit current positions.

The fundamentalist believe in knowing all the
facts about a company such as price earnings
ratios, sales growth, product margins,
management capabilities, cost of production,
cash flow, etc., etc. while the technicians
could care less about the latter and want to see
sector price trends and rank, the Relative
Strength Index, MACD (moving average convergence
divergence), stochastics, trend lines, chart
patterns and many more esoterically evolved
indicators.

Which method is the best?

There is no Holy Grail of trading and what
critics of either method forget that it is the
trader who adds the final nuance that results in
profit or loss. The more years a professional
investor has been working his plan the more
successful he usually becomes. The unsuccessful
ones have long since gone broke and are no
longer in the game.

It is somewhat difficult for me to give great
credence to fundamentalists as I am a technician
and have a very long profitable track record to
prove it; however, I do sometimes look at some
of fundamentals. It seems that the longer term
trader can do well with a fundamental approach
because the timing to buy or sell has a lag
time. He does not buy the bottom nor sell the
top, but who does?

The technical trader will ignore the
informational approach with the use of charts
and other indicators. Short term traders must be
technicians, especially day traders, as there
are no fundamentals upon which they can assess
their buys and sells.

Technical trading is based on the psychology
of the mass of traders that ride upon the hidden
values of the changing fundamentals. Charts and
other indicators tell the of the long term
health of a company, country or commodity as it
is shown in the price action. The fundamentalist
looks for the reason for a change to buy or sell
whereas the technician tries to find the change
in the price action to initiate buys and sells.

No matter what a fundamental trader's position
he must be very patient. He may have a position
on for years. During that same period there will
be waves of highs and lows during which he
remains constant in his position. The technician
may trade the same equity several times buying
the low of the wave and selling the high
(hopefully). In commodities it is astute
trading, but when it is done in stocks and funds
it is called timing.

A combination of technical and fundamental
methods can give the best results. For the
average guy occasional trader I can only caution
him to be very careful. Very few intermittent
traders ever make money.

A successful trading approach requires
commitment. It is a business the same as owning
a shoe store or trucking company. You must give
it your all.

Like any business you have to work at it.

Friday, November 26, 2010

Information on the Mass Mutual Life Insurance Company and How They Can Benefit You

Mass Mutual life insurance company was started back in 1851 and today its corporate headquarters is based in Springfield Massachusetts. Over the last 157 years this company has risen to be a respected global leader in the life insurance and financial industry and today holds and manages more then 500 billion dollars in company assets.

Mass Mutual offers all the standard life insurance one would expect from a industry leader like term, whole life and universal life. But Massachusetts mutual life also offers a wide range of other insurance and financial products like disability insurance and many investment and retirement planning products. These products are available to both the regular person all the way up to large fortune 500 corporate clients.

The mass mutual life insurance company was founded on the principal of the customer first and even to this day focus's on doing what right for their clients. They also are focused on maintaining a profitable company and have found a way to balance each one so they do not interfere with each other.But even with these two goal the company has not lost sight of helping others through charity and other community re investment plans.

Being a mutually owned company Massachusetts mutual life offers additional benefits to policy holders. These include dividend payments to both share holders and policy holders, a mutually owned structure that helps shelter them from any hostile take over attempts or mergers that could damage the company and cause inconvenience for the companies millions of policy holders.

Monday, November 22, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Friday, November 19, 2010

Global Life Insurance - an Established Company With a Quality Reputation

There are more insurance companies in America today than ever before. This is great news for the consumer because competition drives prices down, making good insurance coverage more and more affordable all the time. But it also presents the difficult of choosing the right policy. With so many options available, many people find it daunting to have to research so many different policies and options in order to find one that suits their individual situation and needs. But one way to make sure that you are getting a quality policy is to go with an established company with a reputation for great customer service. Global Life Insurance certainly fits that description.

Global Life Insurance was established in Oklahoma in 1951. It was originally called Globe Life and Accident Insurance. Liberty National Life Insurance Company acquired Globe Life and Accident in the late 1970s, the first step to forming Torch Mark Corporation as a holding company. Torch Mark is an industry leader and provides insurance to millions of people. Consumers have great confidence in the brand, and even investor extraordinaire Warren Buffet owns stock in the company. There are few insurance companies that are trusted as widely as Global Life.

If it is options you are looking for, then Global Life Insurance is a great place to start. They offer different policies for all kinds of people. You can find coverage for yourself, your spouse, and even your children at affordable prices. And the more insurance you purchase, the better the deal you will get. You can find policies with as much or as little coverage as you want, depending on how high a risk you present and how much you are willing to pay for better coverage. Whether you choose to get a bare minimum of coverage or get as much coverage as you can afford, at least you have options.

And even if you cannot find exactly what you are looking for under the Global Life Insurance brand, you are sure to find it under one of the Torch Mark Corporations many subsidiaries. With six different insurance providers under its name, Torch Mark provides unparalleled variety and options to the savvy consumer. And you are sure to find an insurance broker near you who can help you to find just the right policy to fit your unique needs. The Torch Mark name is so widely known and trusted, that insurance brokers are happy to sell their policies. They can have confidence in that product, which means that you can, too.

Wednesday, November 17, 2010

The Life Insurance Problem

Life insurance is a difficult subject to figure out because it has lots of moving parts. Plus, most people avoid thinking about their own mortality.

Someday, of course, all of us will die. But, since we cannot know exactly when this will happen, we tend not to think much about it. Sometimes we wait until it's too late before we get serious about the value of life insurance.

Only those who are reasonably healthy are permitted to buy life insurance. If you are seriously diseased, cancerous or diagnosed as terminal, it's unlikely that any company would knowingly issue you a policy. However, some second to die policies are available as long as one of the two applicants is insurable.

There are companies that specialize in limited value policies and market them aggressively in print and television, but these usually are for face amounts of less than $10,000. There are exceptions, but caution is advised before committing your money.

When a large number of comparatively healthy people are grouped into age related categories, it's possible to project with some accuracy how many of them will die within a span of time. This projection is for the large number only and not for the individual.

Indeed, if it were possible to predict with certainty the timing of your specific death, no company in the world would issue you an affordably price policy.

One major irritant to the purchase of life insurance is that you have to pay premiums for a long period of time without seeing any tangible benefit. There is nothing to hold in your hand... nothing to watch... or to drive. It's an unselfish purchase.

It's the only asset you can own that will guarantee tax-free cash for your loved ones at the exact time they will most likely need it. But, you will not be around when it pays off.

So, do not buy a policy unless you can guarantee it will be in effect at the time of your death.

But, since you cannot know when your death will actually occur, how can you provide this guarantee? First, a brief overview.

The death benefit concept was originally developed over 200 years ago. Members of rural communities would each contribute small amounts of cash into a collection. When a member of the community died, a portion of the collection was given to the family of the deceased.

There are essentially two types of life insurance companies: mutual and stock. Mutual companies pay dividends to their policyholders and stock companies pay dividends to their stockholders.

The distinction between the two types has become blurred somewhat over the last few years as mergers and buyouts transformed the business into what is now called the financial services industry.

A major difference, however, continues to be in the net cost of a policy because mutual company annual dividends provide significant added value over time.

Companies like Mass Mutual, Northwestern Mutual and New York Life have excellent track records of increasing dividends; thereby greatly reducing the net cost of certain policy types.

An argument can be made that the mutual company policy premium is larger than necessary and, therefore, the annual dividend is nothing more than a method to reduce the premium to its more appropriate price.

While this point may have some merit during the early years of a policy, it becomes invalid as the policy matures. Indeed, dividends paid over time by the above companies contradict any attempt to downplay their value.

There are two basic types of policies: term life and whole life (also referred to as permanent). The term is defined as that point in time when the death benefit will no longer be paid to the insured's beneficiary. If the insured party has not died prior to that point in time, there is no value.

The whole life death benefit is always available provided the premium has been paid when due.

Competition has forced life insurance companies to develop numerous other types of policies, but they are simply hybrid forms of term and permanent. These include universal life and variable universal life. The numerous and complicated features of these hybrids make many policies very difficult to understand.

The foundation of a life insurance policy is based on mortality or the expected time of death. Since the expectation of death increases each year, the cost increases as we age.

Life insurance is primarily state regulated, although this may change in the near future. State insurance commissioners determine the mortality age table that must be used in the pricing of a life insurance policy by each company wishing to do business in that state.

This means an insurance company must honor certain expectations in their pricing. If a company wishes to use a different mortality table to price their products they may do so as long as the mortality expectation meets state requirements.

Life companies consider their own experience with mortality when developing different products. Sometimes they count on having the mortality experience for all of their products to be good enough to over-compensate for one particular product that is intentionally under-priced.

For example, they might introduce a very low cost term life policy with unrealistic mortality expectations compared with the state requirements. This is done with the hope fewer deaths will occur with the under-priced product.

Even if a term premium seems inexpensive upon purchase and priced to stay level for a period of 20 to 30 years, under normal circumstances the price becomes unaffordable at the end of the level premium period.

Keep in mind that most term policyholders do not die before the level period expires; therefore, most term policies lapse without value. This does not negate the value of term insurance provided the parameters are understood prior to purchase.

The only reason to buy a life insurance policy is because you love someone so much that you want to guarantee they will have additional money in case you should die prematurely.

Regrettably, an unscrupulous life agent can provide convincing evidence to the uninformed that life insurance would be a great supplemental retirement plan... or an education fund... or a forced savings plan... or even an investment.

There are much better ways to address all of those, so avoid getting conned into buying a life policy for anything other than what it is intended to be and that is the guaranteed death benefit.

Your primary objective in the purchase of a life insurance policy is to secure the lowest net cost death benefit that will be guaranteed regardless of when you actually die.

Do yourself a favor and ignore those who advocate the buy term and invest the difference strategy. This is a foolish game and simply does not work!

The death benefit paid by a properly structured life insurance policy that has been issued by a financially healthy company will always - always - be better for your loved ones.

Why? Because it is guaranteed to perform at exactly the time when it is needed the most.

When you buy a policy you are usually given at least 10 days to review it. If you decide you do not want it, you can return it for a full return of premium.

Take advantage of this free look period to actually read your policy. Do not just put it away and believe everything is okay. If you have questions, make sure the life agent responds appropriately. Demand proof... if you have any doubts.

Tuesday, November 16, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Monday, November 15, 2010

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Sunday, November 14, 2010

What is ECCC?

From April 17, 1975 to January 6, 1979, Cambodia was under the administration of a so-called government, called Democratic Kampuchea. Within this period, not less than one million of Cambodian people were perished of starvation, slavery, sickness and other arbitrary executions. To prevent such the atrocity in the future, in 1997 the Royal Government of the Kingdom of Cambodia (RGKC) requested assistance from the United Nations to establish a tribunal to bring those most responsible for genocide from 1975 to 1979 to justice.

Though categorized into as the crime of genocide, RGKC still decided not to bring most senior leaders of Democratic Kampuchea to International Criminal Court (ICC), based in The Hague, for two reasons: 1. For the sake of Cambodian people; and 2. Cambodia was one of the founding member of ICC and ICC was established in 2002, which was after the era of Democratic Kampuchea. However, due to weakness in legal human resources and lack of quality facilities to ensure a smooth and fair and internationally recognized trial, RGKC invited participations from international judges and other court personnel, to work together with the Cambodian ones. Despite taking place in Cambodia, related international laws and international customary laws will be used during the course of the trial.

In 2001 the National Assembly of the Kingdom of Cambodia adopted a law to create a court to try serious crimes committed during the Khmer Rouge regime 1975-1979. This court is called the Extraordinary Chambers in the Courts of Cambodia for the Prosecution of Crimes Committed during the Period of Democratic Kampuchea (Extraordinary Chambers or ECCC). In June 6, 2003, an international legal instrument, entitled “AGREEMENT BETWEEN THE UNITED NATIONS AND THE ROYAL GOVERNMENT OF CAMBODIA CONCERNING THE PROSECUTION UNDER CAMBODIAN LAW OF CRIMES COMMITTED DURING THE PERIOD OF DEMOCRATIC KAMPUCHEA” was singed in Phnom Penh, between H.E Sok An, Deputy Prime Minister in charge of the Council of Ministers of the Kingdom of Cambodia, and Mr. Hans Corell, Under-Secretary-General for Legal Affairs of the Legal Counsel.

The above mutual agreement between Cambodia and the United Nations plays a role as guidelines for ECCC’s legal procedures and other subsequent rules. There are thirty-two articles, ranking from Purpose (Article 1) to Entry into Force (Article 32). Article one of the agreement states “The purpose of the present Agreement is to regulate the cooperation between the United Nations and the Royal Government of Cambodia in bringing to trial senior leaders of Democratic Kampuchea and those who were most responsible for the crimes and serious violations of Cambodian penal law, international humanitarian law and custom, and international conventions recognized by Cambodia, that were committed during the period from 17 April 1975 to 6 January 1979. The Agreement provides, inter alia, the legal basis and the principles and modalities for such cooperation.”

Despite ECCC exists within the present Cambodian court, with assistance from the United Nations, ECCC is independent from the Cambodian court as well as the United Nations.

The first trials are expected to take place in 2007. It is estimated that the trials may run for three years although no precise estimate is presently possible. Their length will depend on how long investigators need to collect evidence, how many people are put on trial, how many witnesses are called and how many appeals are made. When all trials and appeals are completed, the Extraordinary Chambers will be dissolved.

The trials will take place in a large court room on the outskirts of Phnom Penh on National Road 4, Ang Village, Kantok Commune, Ang Snuol District.

There will be 7 judges for the Trial Court Chamber: 3 Cambodian + 2 International. Appeals will go from the Trial Court to the Supreme Court which is the highest level. 7 judges for the Supreme Court Chamber: 4 Cambodian + 3 International. Under Cambodian law today, as in many other countries, there are no juries or people's assessors. All decisions will be made by the judges. The Supreme Court Chamber is the final court.

For more information about ECCC, please visit: http://www.eccc.gov.kh.

Thursday, November 11, 2010

Washington State Owes Its Citizens Over $700 Million Dollars

The state of Washington is home to some of the world wide web's major players. Even Bill Gates, the United States' richest man, hails from Medina, WA and his company, Microsoft, is based in Redmond. Amazon.com, Classmates.com, Whitepages.com and Marchex also call Washington their home. The fact then, that over 1.5 million residents are owed an excess of $700 million unclaimed money in Washington State is ironic, sense searching for unclaimed money and property can be done online from the comfort of their bedroom or the local Starbucks.

According to the Washington State Department Of Revenue website, typical unclaimed property includes abandoned bank accounts, insurance proceeds, stocks, bonds, and mutual funds, safe deposit box contents, utility and phone company deposits, uncashed payroll, insurance, and traveler's checks, and other financial assets. Unclaimed property doesn't include most tangible assets like real estate and vehicles. State Law requires banks, insurance companies, retailers, credit unions, utilities, corporations, and government entities to turn Washington unclaimed money and property over to the state if their owners can't be located after 3-5 years (depending on the item).

The State's Unclaimed Property Law states: "State law protects unclaimed property until it can be returned. There is no time limit for filing a claim and rightful owners or their heirs can claim property reported since 1955. The state may auction the content of safe deposit boxes, however, if not claimed within five years."

Washington was the first state to have a streamlined system for claiming lost money and property. In fact, the Washington State Department of Revenue recently won the Award for Outstanding Management and Organizational Initiative for its 'Unclaimed Property E-Claim System'. The amount waiting to be reunited with their owners is still in excess of half a billion dollars however, despite the unclaimed property program being administered to reach out to more owners of Washington unclaimed money and that makes claiming easier for them.

The problem may lie in more than one factor- the fast-paced lifestyle we live in today, the notion people have that piles of paperwork are involved when dealing with the government, and plain disbelief. The more people jump from job to job, changing addresses, or from spouse to spouse (changing last names), the more likely they are to lose track of their financial assets like tax refunds from the IRS or inheritances from a relative that had passed-away. Even those that are aware of the possibility that they might have unclaimed money in Washington and other states might not bother doing a search at all thinking it's not worth the hassle.

The Unclaimed Funds Division collects over $55 million in lost or abandoned assets annually in Washington State and that amount snowballs with each passing year. Study up on all the different ways to search, how often to search, and wear to search and get started tracking down money you could have coming today! Who knows? For a change, the government may owe you money this time instead of the other way around.

Wednesday, November 10, 2010

Service Encounters of the Third Kind

What makes a company successful over the long, long term? What characterizes the service relationship between companies and customers who do business together for decades, even generations?

How can your company stay close to your customers even as times change, technologies change and expectations continually rise?

What can you do to improve customer service quality and ensure your company's future offers are relevant and valuable in the market?

One powerful step forward that will improve customer service quality is to explore your customers' future needs and interests by cultivating Service Encounters of The Third Kind. In these unique encounters, your precious and loyal relationships for the future are built by your words and actions - today. You can improve customer service quality over the long haul by thinking proactively.

Let's start by looking closely at Service Encounters of the First and Second Kinds and how they improve customer service quality.

Service Encounters Of The First Kind

In Service Encounters of the First Kind, your company approaches the customer with the most basic of all customer service questions: "What do you want (or need)?"

Your customer replies with equal simplicity, "I want your product X, by time and date Y, at your listed price Z."

Your company's priority and service focus should now be clear: Get the customer's order right, and get it right the first time to improve customer quality!

Campaigns to accomplish this objective are widespread and easy to spot. "Do It Right!", "Zero Defects" and "Six Sigma Quality" are all examples of slogans companies use to focus their workers on getting the basics right, first time, every time to improve customer service quality.

In this kind of encounter, breakdowns in service delivery are bad news since they don't improve customer service quality. They are to be identified, analyzed, solved and, most of all, eliminated to improve customer service quality. The service system must be streamlined and standardized in every possible way to improve customer service quality.

Companies that consistently succeed in this undertaking (delivering X by Y at Z price) earn their reputations in the market as steady and reliable suppliers. This leads, as it should, to customer satisfaction and will improve customer service quality.

Training in these organizations is focused on product knowledge, technical skills, thoroughness, accuracy and adhering to proven procedures to improve customer service quality.

Marketing consists of powerful efforts to push proven products in the market. The customer is "sold to."
Looking into the management mindset of these first kind organizations, we usually find a keen interest in cutting costs, increasing volume and decreasing cycle-time.

This need for speed is important: Competitors are often closing in with similar products, faster delivery and even lower prices. In this kind of competitive situation, profit margins are paper-thin and companies thrive only through continual increases in volume.

So far so good. But if we look into the staff mindset of such an organization, we find a different way of thinking altogether that doesn't help improve customer service quality. Frontline service employees, focused on getting it right the first time, trained to carefully follow all procedures, and encouraged by management to achieve more and more results in less and less time, find themselves answering the phone, opening the mail or meeting the next customer in person thinking to themselves, "I hope this customer isn't a pain in the neck!"

After all, customers with questions and unusual requests generally take more time, lead to more errors and can result in a general slowing down of the whole system.

No wonder so many customer requests for anything out of the ordinary are met with the retort: "We don't do it that way" or "That's not how our procedures work here."

Service Encounters Of The Second Kind

In Service Encounters of the Second Kind, your company approaches the customer with a question that goes beyond standard offers of X product at Y time and Z price. Instead of the basic "What do you want," your service representatives now pose a more inviting question: "How do you want it?"

Faced with such an open-ended question, the customer naturally replies, "I want it the way I want it. I want it special. I want it my way!"

Your company's service focus must change if you are to deliver what your customer wants just the way your customer wants it. Special products, unique combinations, odd-hour deliveries, different schedules for pricing or payment - all are new challenges for your service team to understand and accomplish to improve customer service quality.

In Service Encounters of the Second Kind, breakdowns in the service delivery system are to be expected at first - and then overcome to improve customer service quality. Responsiveness and flexibility become your prime objectives to improve customer service quality. The organization focuses on being adaptable, accommodating and open to changing requests that improve customer service quality and satisfaction.

Your service system improves, not through vigorous efforts to standardize but through your willingness and commitment to customize to improve customer service quality!

Companies that succeed in this challenging undertaking (giving their customers what they want, when and where they want it and just the way they want it) earn their reputations in the market as quick, responsive and open to ongoing change. In short, they understand how to improve customer service quality.

When a company is recognized for welcoming and fulfil-ling unique customer requests, the result is not only customer satisfaction, but a well-deserved and valuable reputation for customer delight.

In these responsive second kind organizations, training programs include active listening, creative problem-solving, and attitude-building activities to improve customer service quality. Staff learn how to find a "yes" for the customer rather than rolling out the standard "no."

Marketing isn't a broadside of mass advertising. Rather, it's a selection of specially modified programs gently pushing customized products to key segments of the market. Clients aren't "sold to" here, they are served to improve customer service quality.

In the staff and management mindset of these organizations, we find a shared and sincere commitment to "bend over backwards" for the client to improve customer service quality.

For example, one adapting company proclaims, "We'll go out of our way for you!" But this catchy phrase reveals the remnants of a first-kind encounter company being forced into second-kind levels of service. Here management is essentially saying: "We still have our way.

But don't worry, we'll go out of our way just for you."

You can see this contrast in the advertising of two fast food restaurant chains. A&W features large posters that read: "You'll love our way!" (That's Service Encounters of the First Kind.)

Compare this with the slogan and jingle for Burger King: "Have it your way!" (That's Service Encounters of the Second Kind.)

At which establishment will you feel more comfortable saying, "Two chicken burgers, please. One with extra ketchup and no pickles, and one cooked rare, hold the onions and two packs of mustard on the side?"

Burger King goes even further with its follow-up campaign: "Sometimes You've Just Gotta Break the Rules." That's a direct invitation to highly customized Service Encounters of the Second Kind: "Have it your way."

Service Encounters Of The Third Kind

In Service Encounters of the Third Kind, your company welcomes the customer in a manner completely different from the standardized "What do you want?" or customized "How do you want it?"

In a Service Encounter of the Third Kind, your company looks to the customer with interest and patience, and asks the somewhat unlikely question: "What do you want to become?"

Most customers, if they are given an opportunity to reflect on this very open-ended question, realize that they are, in fact, still a bit uncertain about the future and will reply, "Actually we're not entirely sure yet." And then, availing themselves of the sincerity and interest you have shown, might add, "Could we talk about it together?"

Your question, and their response, opens the door to a very different and collaborative conversation: a Service Encounter of the Third Kind, which can work over the long haul to really improve customer service quality.

Your company's focus shifts again as you enter into a new dialogue with customers, seeking to understand and add value to their plans and possibilities for the future to improve customer service quality. These conversations, held in a mood of mutual discovery, are concerned with much more than just meeting a customer's existing business requirements. By exploring scenarios and possibilities, you and your customers work together to resolve breakdowns that might emerge only in the future and you improve customer service quality as a result.

For example, innovative financial service companies in Japan consistently ask their customers, "What do you want to become?" And customers consistently answer, "I want to become a homeowner, and I want to pass the home on to my children."

But housing prices in Japan have climbed beyond the average customer's reach. What was the jointly planned and innovative solution to improve customer service quality? Mortgages with payment terms spanning two generations - and customer relationships that endure beyond a lifetime. Talk about a measure to improve customer service quality!

In this third kind of customer service, companies must be willing to adapt, modify and in some cases entirely reinvent the purpose and procedures of their business to improve customer service quality. Rather than "standardize" or even "customize" existing products and systems, third-kind companies must make a commitment to "customer-ize" - to become whatever customers need them to become in order to work together in the future.

For example, railroads in America thought they were in the train business many years ago and nearly went bankrupt asking the customer, "What type of train car do you want to travel in, where do you want to go to and at what price do you want to travel?" They built coach cars, dining cars, sleeping cars and more to improve customer service quality.

But since they never asked the customer, "What do you want to become?", railroad companies did not foresee the need for airborne shipping and travel, and missed evolving into airline companies altogether.

Today, government financial support is necessary just to keep American railroads alive.

Companies that do evolve and improve customer service quality get noticed and earn the respect of customers as relevant, dynamic and constantly changing organizations. They are focused on and committed to the future and taking steps to improve customer service quality. They are not stuck in the success of their past.

Committing to Service Encounters of the Third Kind means you and your customers enter into an intimate and closely linked evolution to improve customer service quality. As changes in the business environment demand greater innovation, more flexibility and even faster response, you learn to adapt, anticipate and actively support each other to improve customer service quality.

This association is not based on customer satisfaction or even on customer delight. Instead, the inventive and interactive quality of this relationship is founded on a level of customer loyalty that is precious to both parties, and can be vital to a vibrant future.

Competitors can steal away a satisfied customer by offering a little bit more satisfaction, and can even lure away a delighted customer by offering a little more delight. But a loyal customer is one who sees his future emerging in part due to your commitment to improve customer service quality. "Win-win agreements" and "building synergy" become passwords for communication between your company and your customer.

Adding long-term value is a goal you take responsibility for together and it will improve customer service quality.

Training programs in third-kind companies highlight the principles of cooperation, collaboration, creativity, invention and design to improve customer service quality. Real customers and suppliers are featured and included in the real-time training programs that improve customer service quality.

The customer is no longer sold to, nor simply served. He is genuinely cared for through a conscientious relationship that builds trust and momentum over time while helping improve customer service quality.

Your service representatives do not "hard-sell" or "push" their products. Instead, they work closely with customers to ensure that appropriate products are "pulled" from your organization to improve customer service quality.

Customers also influence the development of your organization's future competencies, capabilities, and commitments to improve customer service quality.

Staff and management share the same mindset toward the third-kind customer: "We make your concerns our concerns." And in such an atmosphere of growing trust, your customer can make similar long-term and loyal commitments back to you. The customer comes to count on you, rely on you and evolve with you. All of this because you took the steps to improve customer service quality.

In the fast-food industry, for example, McDonalds is now test-marketing an all-soy "veggie burger." This is in direct response to customers who said, "We are becoming more health conscious and we want to eat healthier foods."

Third-kind insurance companies now reap an ever greater slice of the savings and investment pie. Agents no longer ask the simple question, "Do you want whole life, term or endowment?" Instead leading companies provide their representatives with entirely new categories of investment and insurance products addressing individual concerns and responding to changing needs to improve customer service quality.
While these are some of the success stories, other companies have missed the importance of third-kind service and teeter dangerously close to the edge of obsolescence.

General Motors, for example, suffered a serious erosion of market share and loyalty before they heard what their customers were saying: "We want to become more efficient, more cost conscious, and more environmentally friendly." Other companies listened, took steps to improve customer service quality and delivered appropriately designed new cars. Customers responded, giving back profits and gains in market share.

Intricate slide rules were famous for aiding calculation in my father's day. Manufacturers diligently asked the engineers, "How do you want it?" and built an impressive range of slide rules in response: wooden, plastic, steel, large, pocket-sized, flat, round and double-sided.

But they never asked what customers were "becoming," so didn't hear their customers' growing urge for things instantaneous and electronic. The firms that built a wide range of precision slide rules are now gone. Not one slide rule maker is among the calculator and computer manufacturers of today because they did nothing to improve customer service quality.

From carbon paper to photocopies, buggy whips to stick shifts, typewriters to computers, copper wire to fiber optics, smoke signals to wireless, each evolution begs the question, "What happened to those companies?" Did they make the switch? Did they survive? Did they move from "What do you want?" to "What do you want to become?"

In an environment of continually accelerating change, the only certainty we have is that the future will be different from today. The opportunities for evolution and collaboration with your customers will be endless.

What about your company? Will you gradually go out of business with a standardized service system that provides efficient answers to questions your customers no longer ask?

Or will you change the tone and tenor of your service encounters from the order taker asking, "What do you want?" and the order maker's, "How do you want it?" to the loyal business partner who patiently and intelligently asks, "What do you want to become?"

This change requires a new mindset and new methods for engaging with your customers and suppliers. It's called Service Encounters of the Third Kind. Learn it and you will improve customer service quality for the better.

Tuesday, November 9, 2010

Wedding Insurance - Consider the Consequences of Anything That May Go Wrong on Your Special Day

When planning your wedding, the last thing you want to think about is all the things that could go wrong on the big day. It hardly seems like a very romantic or optimistic train of thought in the run-up to a day full of celebration and love but, with the average wedding costing in excess of £10,000, it would be imprudent not to seek some kind of safety net.

In current financial times, there is little job security and the investment required for a wedding can be a daunting undertaking. More and more businesses are suffering under economic pressures and whispers about downsizing or restructuring can cause incredible stress for those looking at investing thousands into their forthcoming wedding.

Like pre-nuptial agreements, wedding insurance can seem a little like looking at the glass half empty when it is close to overflowing, but a little time spent considering the potential catastrophes that could tarnish your day will quickly convince you that some kind of wedding insurance is a good idea.

Inevitably, there are many different wedding insurance policies available, and the majority cover the basics as well as the worst case scenario - having to cancel or postpone the whole event. While it is not possible to insure against a groom's absence on the big day or the bride running off with the best man, policies do offer cover for cancellations to due illness or bereavement in the immediate family.

One cost that is often overlooked when planning for a wedding is the prospect of having to pay legal fees as a result of a dispute with a supplier. For example, the catering company fails to arrive on the specified day or the florist sends black carnations instead of white lilies. While there is little that can be done on the day, afterwards there might a potentially expensive legal case against them for their failure to supply. Having wedding insurance will ensure you do not have to scrimp on your honeymoon in order to scratch together the finances to cover the legal proceedings.

As with any insurance policy, it is important to shop around and find the right wedding insurance policy for you. Some may be more suitable for couples marrying at an international location while others may just cover the basics. While it may be tempting to opt for the first or cheapest policy you see, make sure you read the fine print before committing to a policy to ensure you know exactly what is and is not covered. For example, some policies may cover wedding presents for the duration of the ceremony but then will not cover any loss or damage that occurs as the presents are being transported home.

The most comprehensive wedding insurance policies actually come with a stress counselling helpline that you can call when the burden of balancing work, home and wedding preparations all becomes too much. Research from a prominent insurance company indicates that planning a wedding is almost as stressful as buying a house, so this option may become more appealing as the process gets underway and the challenges become more apparent.

Wedding insurance is a great way to make certain that the money you have invested into your big day does not go to waste if fate decides to throw more than one hitch your way.

Sunday, November 7, 2010

The Prudent Man Rule - Needed Now More Than Ever

The Prudent Man Rule is based on common law stemming from the 1830 Massachusetts court decision - Harvard College vs. Armory. (26 Mass.) 446, 461 (1830). The Prudent Man Rule directs trustees "to observe how men of prudence, discretion, and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested."

The Prudent man Rule, which puts protection of capital ahead of chasing returns has been discarded by a large majority of financial executives, senior banking officials, government agencies like the SEC and FINRA, and the advisor down the street as being out of date, founded on archaic principles, meaningless in today's electronic information age. In its place they have erected a straw man: The Prudent Investor Rule.

The Prudent Investor Rule - Not...

The Prudent Investor Rule, simply stated, is that diversification is prudent enough. As long as your advisor takes your risk tolerance into account, completes a suitability questionnaire, shows you how to invest across industries and geography, among a variety of investment products, and in different sized companies you should be OK...and the advisor's off the hook.

BUNK!

Look around. It's June 2009. The financial sky is figuratively falling. Banks are failing. The Dolts in DC keep borrowing to bail out the borrowers. The highly rated investments of a few months ago are worthless today.

Investing Defined...

There are alternatives. You do not have to follow conventional wisdom to create wealth and manage your money efficiently and effectively. Investing on the terms dictated by Wall Street wonks and the Dolts in DC is not, as we see in the next paragraph, investing at all.

Benjamin Graham the "Dean of Wall Street" and Warren Buffet's mentor, held that an investment has two essential characteristics: "An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative."

A Break with Conventional Wisdom...

If we put the The Prudent Man Rule together with the formula of Benjamin Graham it becomes clear that - regardless of how "diversified" one's "portfolio" - almost every "investment" that was presented to American consumers during the past thirty years is no investment at all; it is mostly "speculation."

Calling these financial products "investments" is a ploy to justify having uninformed registered reps that are protected by their Behemoths sell these speculative products disguised as investments to misinformed consumers.

Islands of Sanity and Safety...

Mutual insurance companies and your local credit union are among the most respected financial businesses in America - and with just cause. While the rest of America's and the world's financial infrastructure is imploding, mutual insurance companies and credit unions are doing quite well. The reason that is so? They follow the Prudent Man Rule in its purest form.

Insurance policies issued by mutual insurance companies continue to increase in value tax-free, every year at a guaranteed rate and continue to pay tax-free dividends as well. Credit Unions are less at risk than other depositor funded institutions because they continue to serve a small community as non-profits. In both cases, the policy owners or depositors own the companies. There are no outside investors greedy for profits at any cost.

Consider...

Mutual fund companies and other investments do not guarantee or even hint at promising "safety of principal and a satisfactory return." They claim that "diversification" makes up for that failure. It doesn't. They claim that everything will work out in the "long term." But what if your long term is today and the value of your account is less than half what it was just a year ago?

It is apparent during these days of bank failures, investment company executives being indicted for foisting false financial products and promises on "we the people," and tumultuous market fluctuations that the paradigm that got us here is not going to get us out. We're in a ditch we don't want to be in...stop digging!

The stock markets, mutual funds, and virtually every financial product promoted to Americans represent unwarranted gambles - speculation - dressed up as "investments." Even the money you pour into your Las Vegas style 401(k) plan is unprotected from the speculative nature of the underlying investments and is subject to potentially confiscatory income taxation when you finally get around to drawing it out.

Secure savings and financial growth in credit unions and in cash value life insurance are today - as they have always been - the surest and safest places for your money; the most solid foundation for your personal economy; the most likely source for:

secure retirement income
ready cash for life's surprises
a meaningful legacy for those you care most about
not to mention freedom from debt

Saturday, November 6, 2010

Massachusetts Home Insurance - How to Get the Best Rate

Looking for Massachusetts homeowners insurance? Want to get a cheap Massachusetts homeowners insurance quote from a reliable company? Read on ...

Why Shop for Insurance?

Your home is a valuable possession and it houses many other valuable possessions. Without insurance, it could take you years to recover from the financial loss if your home were to be damaged by fire or storms, or if someone were to slip and fall on your property and sue you.

Insurance rates vary tremendously from company to company, so you want to comparison shop to make sure you're getting the best rate. In addition, you also want to make sure the company you choose is reliable and will give you good customer service.

Even if you already have insurance on your Massachusetts home, it's important to update your insurance regularly. You may have remodeled and added to the value of your home or you may have purchased some jewelry that you need to have insured. This is a great time to get some insurance quotes from several companies in order to get the best possible rate.

How to Get Cheap Massachusetts Home Insurance

The best way to get cheap Massachusetts home insurance is to comparison shop. You can do this by calling local insurance companies on the phone, but it's far easier and much quicker to go to an insurance comparison website. At these sites you fill out a simple form, including information about the type of home you own and the amount of insurance you want. Then all you do is wait for your quotes and choose the best one.

The best comparison websites offer two advantages over the other sites:

1. They only deal with A-rated insurance companies so you can rest assured you'll get good customer service with a reputable company.

2. They offer an online chat feature and a toll-free telephone service so you can get answers to your homeowners insurance questions from trained professionals. (See link below.)

Friday, November 5, 2010

Bullet Proof Your Safe Money With Annuities

On October 19, 1987, known as "Black Monday," the Dow Jones Industrial Average dropped 508 points. This was a one-day record loss of 22.1% of the stock market's original value. Many 401(k)'s became "201(k)'s" overnight. Nearly $600 billion of investors' assets vaporized instantly. According to an October 11, 1997 Reuter's news report by Pierre Bellec, he quotes John Geraghty at North American Equity Services: "'Electronic trading made the '87 crash much worse because it was the blasting cap on a stick of dynamite,' he said. 'The blocks of millions of shares was the spark that set waves of chain-reaction selling into motion, drowning individual investors, institutional (investors) and mutual fund traders.'" People lost thousands of dollars of their hard-earned savings overnight. That money was to help them comfortably live out the rest of their lives during retirement. If this happened to you, how did you feel about it? If it never happened to you, how would you feel if it did? Please, I'm not slamming the stock market, because I invest in it myself. It is one of the best ways to get capital appreciation over a long period of time. Also it's a great way to get ahead of inflation. However, the reality is that if you put all your "eggs in one basket" in the market, you expose yourself to a greater risk. Your risk is losing a good portion or all of your money with little chance to recover it. Isn't that money you wanted to live on after you retire? You expected to live comfortably after retirement, right?

How will you and your spouse deal with a lower standard of living for the rest of your life? An article in Black Enterprise, October 1994, says: "But most 'people in their 20s couldn't care less about retirement,' says: Roberta Berger, a chartered financial consultant and the president of Capital Control Concepts in Rhinebeck, N.Y. 'Those in their 30s think it's a good idea. People in their 40s believe they should do it. And those in their 50s say they should have done it when they were in their 20s,' she points out." To quote the American Institute of CPA's, Retirement Planning: Achieving Financial Security for Your Future, 2004: "According to a study conducted by the U.S. Department of Commerce, only 5% of all Americans are financially independent at age 65. 75% of all retirees are forced to depend on family, friends, and Social Security as their only sources of income." How would you feel about depending on your family, your friends, and your Social Security for the rest of your life? Are they all guaranteed to be there for you forever? The good news is you can avoid a terrible situation for yourself and your spouse by proper planning immediately. You need to make a good portion of your assets your "safe money." No matter how far the stock market drops, no matter what interest rates do to volatile bond markets, your safe money needs to have a bulletproof vest on. While other investors are on the Titanic, you need to be on a completely different ship, far away in a safe harbor. The way to get into your safe harbor is through the time-tested financial vehicles called fixed annuities. An annuity is a contract between an individual and an insurance company. The owner agrees to pay the insurance company a single payment or a series of payments. The insurance company agrees to pay the annuitant a fixed amount on a regular basis, starting immediately or at a later date. Fixed annuities give you GUARANTEES. You are guaranteed your safe money will be safe - no losses at all no matter how far the stock market drops. Also you will have a minimum interest rate guaranteed to you. Your current interest rate will be determined by the investment performance of the company, but it will never go below the minimum. What that means to you is a sense of security. You are also guaranteed an income that you will never outlive. You won't worry about depending on family, on friends, and on Social Security as your only means of support. Fixed annuities are SAFE. Very strict state laws mandate insurance companies that offer annuities are to have enough reserves to fulfill their all contractual obligations to their policyholders. Historically, these companies have weathered a lot of financial storms. Investigate the long-term financial strength of a company. Your best bet is to look for an insurance company that has an A.M. Best rating of "B" or better. Fixed annuities give you TAX-ADVANTAGES. The interest you earn with CD's, money-market accounts, etc. is fully taxable by the IRS. Your gains in an annuity are FULLY TAX-DEFFERED under current tax laws. If you own an annuity, you give up less money to Uncle Sam every year yet make more money rather quickly, interest earning from interest, year after year.

When you start receiving income payments from your annuity years later, you will probably have gotten into a lower tax bracket. You will have lower tax payments on your annuity payout. You also have a higher effective yield on your money, more than in a taxable interest-bearing CD. And again no matter how much you gain, you will never lose it when the market drops. Isn't that a good deal? Wouldn't you want to have more spendable money and more enjoyment in your life? But talk to your tax adviser, tax attorney, or accountant first. Fixed annuities can completely bypass PROBATE. Only the monies in annuities can avoid probate. First, all the details of the estate are "in the street" immediately as it is public information. You have no confidentiality at all about your assets. On top of that Nolo.com says: "In a nutshell, there are two big problems with probate:

It usually ties up property for months, sometimes even a year.
It's expensive. Attorney and court fees can take up to 5% of an estate's value."

Your loved ones may not avoid probate completely, but with an annuity, your safe money will pass into their hands immediately with no hassles nor headaches for them. What that means to you is that you will be secure in the knowledge that your heirs will receive the largest possible amount of your estate. Fixed Annuities give you OPTIONS. If you need ready access your funds, you get free withdrawal privileges without surrender charges, usually 10% annually (after you've held the annuity for at least a year). What that means to you is security in knowing that in an emergency, funds are available. Many annuities give a nursing care rider which gives you access to funds without a penalty to help pay for your nursing care expenses. Many annuities also give you a terminal illness rider to allow you to access your funds without penalty.

Depending on your state's laws fixed Annuities may give you ASSET PROTECTION. For example, California law protects your annuities and life insurance policies from creditors within certain limits. (We suggest you check with your attorney or tax advisor.) In a February 25, 2002 article from USA Today called "Lay Bought Annuities Creditors Can't Touch," it says: "Cry for Argentina, but don't cry for Ken Lay. The former Enron CEO, whose wife said on the Today show that they face a 'liquidity crisis,' are guaranteed about $400,000 a year in income starting in 2007. "Unlike the Lays' other assets, which are threatened by lawsuits, Texas state law puts annuities out of reach of creditors and plaintiffs' lawyers. "Two years ago, Ken and Linda Lay purchased annuities from Canadian life insurer Manulife. As of a month ago, according to a source familiar with the transactions, their combined accounts were worth $4.7 million. The Lays' annuity plans, purchased through Houston financial planner Rocky Emery, guarantee a 6% annual return starting in 2007." You may love Ken Lay or hate him. The point is he created a safe harbor for his finances. The Lays bulletproofed their safe money and are set for life. Have you done the same for yourself and for your spouse? Richard W. Duff, J.D., CLU in The Journal of Financial Planning said: "Under the right circumstances, annuities can work magic. They may solve a troublesome problem, or improve the overall financial picture even when no issue exists." Need I say more? To repeat: The good news is you can avoid a terrible situation for yourself and your spouse by proper planning immediately.