Social Media tips for Insurance Brokers

Social media plays such a big role in people’s lives these days which is why it is important for insurance brokers to know how to advertise on there and how to use it to reach as many potential clients as possible.

You must stay consistent with your post and keeping them up to date Post photos of different employees to make it more personable If your company is involved with different events in the neighborhood, post photos of it Make your post relatable and in a way that people can understand Promoting any type of special or deals that you may have is a great way to attract possible clients Create posts where people can feel comfortable asking questions and create a type of relationship with them if possible Using multiple types of social media is important in order to reach different demographics. Facebook, Instagram, Twitter, Snapchat, and Linkedin are all types of social media in which companies should have some type of account Facebook also has an option to buy an ad if you would like to advertise in …

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Family & Life Insurance

Knowing how much life insurance you need is a one of the main questions asked. The answer is different for everyone because it depends on your situation and where you are in your life. Someone who has a family is going to want to make sure that if anything were to happen to them, that their family is going to be financially covered. Are you going to cover your kids? Is your spouse going to get life insurance? These are all questions that come into consideration when you have a family and begin looking into life insurance.

First you are going to want to figure out how much you can afford. More coverage is going to cost you more each month, so make sure to run the numbers and see what price will best fit you and go from there to figure out how much coverage that price can get you. Remember that working with an insurance broker can help you to get the best price on coverage that will fit your needs.

Now you will need to figure out …

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What does an insurance broker do that you can’t do?

When weighing your choices between going with an insurance broker or trying to figure it out on your own, make sure you know all the perks of using an insurance broker. Think of the time they can save you while offering you their expertise, guidance, and recommendations.

Insurance brokers who have been in their position for some time and know how the business works can use their knowledge to get you the best coverage possible. If you are new to the insurance world, there may be a lot that you are unaware of when it comes to getting the coverage that you need. There are many different possible types of coverage and if you do not know which one you are looking for, you may get overwhelmed in the beginning of the process. This is where an insurance broker can be perfect for you. They can recommend the best coverage for you at the right price from the right company. Even if you know about coverage, they are able to work with multiple companies quicker than you can on your …

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Why do people use insurance brokers?

Insurance brokers are only here to help you. Like mortgage brokers are the middlemen between their client and the lenders, insurance brokers are the middleman between you and the insurance companies, and finding you the right policy is what they do best. With so much going on in our world, having life insurance is great for giving you and your loved one’s peace of mind. Insurance brokers can find you great deals, save you time, help you to understand the policy, and overall have a better understanding of a number of insurance companies.

Since insurance brokers have access to multiple companies, they are able to get you a great policy with a premium that will work for you. They will ask you a number of questions to get a better understanding of what type of coverage you are looking for. From there they are able to show you several possible policies and explain each of them in enough detail for you to fully understand what each of them covers.

Understanding your policy and what type of coverage you have is …

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Mortgage options down 50% as of 2010

The Examiner carried a story about the number of options available to borrowers in the present market and the fact that they have dropped over 50% since 2008.

In 2008 there were 380 different mortgages available on the market across all banks and all rate suites, today, that number rests at 179 meaning that at least 50% of the choice is gone. That is also reflective of the fact that so many lenders have exited the market. Below is a list of several who are no longer lending here.

Halifax Fresh Mortgages Springboard Stepstone Nua Homeloans First Active GE Money Leeds

Many of these providers were in the non-prime/specialist/sub-prime category, however, a drop of 50% in choice doesn’t mean that there are no options left. Certainly tracker mortgages are a thing of the past as are Standard Variables (referring to new business for these products, existing clients will keep their existing product).

The other factor that makes this less spectacular is that many lenders replicate offerings, so when each lender pulled out, their two year fixed …

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Buying stocks to protect yourself?

Marc Faber makes some salient points to Yahoo! tech-ticker on where he feels the markets and world economy are going and he strongly disagrees with Ken Fisher about the USA having ‘too little debt’. He is strongly anti-cash and feels that commodities and stocks (despite what many believe is simply a bear market rally) are the place to be for the next 2-3 years. An interesting point made on tech-ticker was that the world economy doesn’t need as many people any more, it makes for compelling reading.

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Understanding why mortgage rates MUST rise.

We have been saying for some time that interest rates on mortgages must rise, you can look at supply and demand, or you can look at the types of products that have ceased to exist such as tracker mortgages (removing fixed margin loan products) and then there is the proliferation of variable LTV products which set the stage for the ability to manipulate margin on more loans. The question is ‘what all of this means’, and the purpose of this post is to explain how deposits, business lending and mortgages are all interconnected parts of the banking system and how margins are set based upon them.

Last week PTsb finally came out and said that they were considering an …

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Banks: give you an umberella when its sunny and take it back when it rains

Samuel Clemens (aka Tom Sawyer) brought us the quote which is the title of this post, ‘banks give you an umbrella when its sunny out and take it back when it rains’, his simply worded expression held as true in Missouri of the late 1800’s as it does today.

Recently we had a client who is on an interest only mortgage, their circumstances have changed right when their interest only period was about to run out, naturally we suggested that they ask for a continuance of an interest only period, while this won’t work down the capital amount owed it will keep their cash flow alive and if you have to chose between owing more and being unable to pay then the former is preferable. Sitting in a pot might not sound great but it beats the raw fire.

The bank were happy to comply and they sent out a letter, it was at this …

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Forensic Underwriting, when is it ‘too much’?

Lenders will underwrite loans. That is part of the process, it is a natural and normal occurrence in finance, to underwrite, to ensure that you are researching the proposed deal to the extent that you can be sure that you are not taking a pointless risk, but when is it ‘too much’?

Traditionally an employee would be asked to give several forms of documentation as evidence of their position so that they could be considered for a loan. Normally this would have been a straight forward process, and one that generally works.

However, as of late we are seeing ‘forensic underwriting’ becoming more prevalent. The degree to which a lender wants to delve into a persons situation is rising beyond the traditional norms and in some cases we believe it is going well beyond the call of duty.

Let’s be frank, we need banks, who else will lend money to a stranger to buy an asset? Without banks it would only occur between people who have a lot of money personally …

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