We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (17,444)
  • Industry Conferences (3)
  • Industry Job Openings (3)
  • Moore on the Market (189)
  • Negative Media (139)
  • Positive Media (73)
  • Sheryl's Articles (648)
  • Wink's Articles (257)
  • Wink's Inside Story (230)
  • Wink's Press Releases (97)
  • Blog Archives

  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • August 2006
  • Death Benefit Claim Fail #LIAM Reprint

    September 7, 2021 by Sheryl J. Moore

     

    As the nation’s top expert on life insurance and annuity products, I have spent a great deal of my time over the last couple of decades pouring-over specimen contracts and prospectuses. It’s what I do. It’s why I’m the life of the party.

     

    Given that, I am going to admit to you one of the most embarrassing mistakes I have made in my life, as an expert on insurance contracts. I share it with you, so that you can learn from it and even possibly use it as an opportunity for sales. For perspective, I need to provide some background.

    Click HERE to view the full story via NAILBA Perspectives

     

    In my early 20s, I was going through a messy divorce and the single mom of three kiddos. My relationship with my ex-husband was, and still is, very poor mostly due to unmet financial obligations. When I got my first job working for an insurance company, it didn’t take long before I understood in detail the value of life insurance. And yet, I didn’t have two nickels to rub together.

     

    So, when I received a flyer in my mail, suggesting that I purchase life insurance on my children- I jumped at the chance. I couldn’t afford the fully underwritten insurance my employer offered just yet. However, the guaranteed issue product was better than nothing. I completed the application from my mail insert and caught note of an important disclosure.

     

    “Unless otherwise requested, the parents of the Proposed Insureds shall be the beneficiaries.”

     

    I wrote a note on the application, and submitted an adjoining letter, indicating “Please send Ch. Of Beneficiary forms upon approval.” My ex-husband knew nothing of the life insurance coverage, and why should he? I would be paying the premiums on the policies covering my children’s lives. I was 100% financially responsible for my kids, and I would be the one shouldering the costs of any potential funeral expenses. He shouldn’t be the beneficiary of the contracts.

     

    The policies were issued.

     

    My complicated, challenging life continued, and I lost track of the fact that I was never sent a change of beneficiary form. This may seem insignificant, but it became very important 11.5 years later.

     

    I’ll never forget the day that my son took his own life, as a result of bullying. I cannot describe the devastation. However, it may be easier to explain the feelings after receiving a check for only half of the death benefit on my son’s life insurance policy. I was clueless. I had no idea why. When they told me that my ex-husband received the other half, I felt like dying all over again. He financially benefitted from the death of our son and offered not one dime for the burial costs.

     

    Not one of the nearly dozen insurance salespeople I’ve worked with throughout my career has ever suggested that I update this information, as they assumed that since I am “the expert,” I had my house in order. What a hard way to learn such a lesson.

     

    Take advantage of opportunities to review insurance policies. It results in happy clients and opportunities for more sales.

     

    Sheryl Moore is President and CEO of the life and annuity market research firm of Wink, Inc. Her company provides competitive intelligence, market research, product development, consulting services and insight to select financial services companies. She may be reached at sjm@intelrockstar.com.

     

    Click HERE to view the full story via NAILBA Perspectives

    Originally Posted on January 2020.

    Categories: Sheryl's Articles
    currency