Feb 3, 2015 | News
NEW YORK – MetLife
Just in time for Valentine’s Day, MetLife has released a top 10 list of financial tips designed to assist couples in achieving their financial goals. Given the significant role that financial matters play in couples’ lives—with the average couple discussing money 20 times a year—the tips provide a blueprint that will help couples avoid common mistakes and manage their finances in a way that suits both partners.
“As every couple knows, it’s important to be on the same page when it comes to money,” said Jeff Tulloch, vice president at MetLife Premier Client Group. “With Valentine’s Day approaching, we wanted to share some simple tips that can help contribute to a sound financial future for couples—and a sound relationship.”
The list of tips comes from a “Love and Money” workshop that is part of MetLife’s workplace-based PlanSmart® Financial Education series. Launched in 2008, the series offers a selection of workshops relevant to employees of varying ages and career stages. The workshops fulfill employees’ interest in financial education and planning help in the workplace, and address a variety of topics such as Investing 101, planning for college, and estate and retirement planning.
MetLife PlanSmart Top 10 Financial Tips for Couples
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Learn about your partner’s financial situation before committing to a long-term relationship. Talk to them about their credit score, debt, and how you will handle larger financial issues as a couple.
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Adopt the “yours, mine, and ours” approach to joint accounts. Set up a joint account to manage your money collaboratively, with monthly payments directed to individual accounts that allow each person to spend some money as they choose.
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Determine who will be responsible for paying bills, balancing the checking account, and researching large purchases, based on each of your talents and needs. It’s okay to make changes as you go along if one person becomes too busy or isn’t doing a good job.
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Establish shared financial goals for both the short and long term, and how you will work together as a couple to achieve them. If you need to, seek the advice of a financial professional to help you set your priorities.
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Create a budget that allows you to track how you spend money as a couple and reflects your individual spending habits. Don’t use the budget to force your own habits onto your partner or to blame your partner for spending too much.
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Work together to pay off existing debt, and understand the difference between good and bad debt. Be careful that you don’t take on too much debt, good or bad, as too much of either kind still hurts your financial security.
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Discuss your individual levels of risk tolerance and identify a level that you are both comfortable with. Make sure to take the time horizon for your investments into account.
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Avoid keeping financial secrets from your partner, which can create feelings of distrust and betrayal. Honest and open communication about financial matters is best.
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Be a team player. If you and your partner earn different salaries, don’t point out your partner’s lack of income or brag about your paycheck. Look at other contributions the lower-earning partner makes to the household.
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Carve out a dedicated time to have specific discussions about your financial situation and how to improve it at least four times a year.
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FPSC Approved CE Courses for Financial Planners and FPSC Level 1 Certificants
Feb 2, 2015 | News
QB Tom Brady
“It’s been a long journey. It’s just a great win. We left it all on the field.”
New England Patriots fans everywhere celebrated their team’s come-from-behind victory in Sunday’s Super Bowl! At ILScorp the celebration continues for all PatsFan’s! Today is the last day for you to get a Quarter Back! Complete your CE requirements and save 25% off select CE Course Subscriptions. Get access to hundreds of hours of provincially accredited insurance training online courses in both text and streaming video formats. CE Course Subscriptions are your best value, you save money compared to purchasing individual courses, plus today only save an additional 25%! Save time and money by completing your continuing education requirements entirely online, no paperwork, no commute.
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Study at your own pace: our online courses can be studied at a pace that is right for you.
Jan 30, 2015 | News
The 2015 Super Bowl is coming!
Super Bowl savings: 25% off three of our most popular CE Course Subscriptions till Monday, February 2nd!
Choose your CE Course Subscription below and use the corresponding Super Bowl Savings Promo code to receive your discount instantly!
Life/A&S CE Course Subscription
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With ILScorp’s CE Course Subscriptions, get access to hundreds of hours of provincially accredited insurance training online courses in both text and streaming video formats. CE Course Subscriptions are your best value, you save money compared to purchasing individual courses! Save time and money by completing your continuing education requirements entirely online, no paperwork or commute.
Great reasons to choose ILScorp’s online CE course subscriptions:
- Quick, easy sign up: registering for online courses takes less than 4 minutes. One word: simple!
- Cost effective, saves time: no commute needed and no travel or printing costs means we can offer low cost online training.
- Study anytime, anywhere: our online courses can be studied at any time of the day and anywhere you have an internet connection.
- Easy to prove your course completion: this can be essential for industries that require mandatory training, and law compliance.
- Engaging and dare we say FUN: a mix of activities, quizzes and games ensures our online training is both fun and interactive.
- Study at your own pace: our online courses can be studied at a pace that is right for you.
Jan 27, 2015 | News
AODA Compliance Update: January 1, 2015, Requirements
Adding to those AODA requirements under the Customer Service and general requirements under Integrated Accessibility Standards that are already in force, effective January 1, 2015, a number of additional requirements came into force.
- By January 1, 2015, all employees and others providing services on behalf of a large organization must receive training on the Human Rights Code as it pertains to persons with disabilities and the Integrated Standards.
- By January 1, 2015, large organizations must ensure that their feedback processes can be administered in accessible formats and with communication supports, upon request.
- By January 1, 2015, small organizations must ensure have developed and implemented accessibility policies describing how the organization will achieve accessibility and compliance with the Integrated Standards. These policies do not have to be in writing, however, how are you going to communicate these policies to the public or employees if they are not in writing? Something to think about!
- By January 1, 2015, small organizations must have regard to accessibility issues when designing, procuring or acquiring self-service kiosk.
- Producers (publishers) and educational libraries must under the Information and Communication standard that is part of the Integrated Standard, whether large or small must make conversion ready educational textbooks. Exceptions do apply.
Organizations including law firms are cautioned to comply with AODA and its regulations as significant penalties can be imposed for non-compliance.
Get compliance with ILScorp’s online AODA course. Our AODA course provides information on the Accessibility for Ontarians with Disabilities Act (AODA), that became law on June 13, 2005, as well as the January 1, 2015 additional requirements that are now in force
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Electronic records are kept by ILScorp in case of an audit, plus the ILScorp AODA course has been accredited from RIBO for 1 hour in the Management Category. It is the law! Ontario companies must be AODA compliant!
Start today!
Jan 2, 2015 | News
By Eddie Vukovic – Digital Communications Manager – The Institute
It’s a new year –and with a new year, comes New Year’s resolutions. Most of us make plans to be healthier, drink less or read more but what about on a professional level? How many of us make professional New Year’s resolutions?
As you reflect on your results for 2014, using the beginning of a new year is a great excuse to make some professional resolutions.
Here are 7 New Year’s Resolutions you can use to make yourself a better broker:
1 Practice Your Sales Conversations
As experienced brokers you probably don’t think it is necessary to practice your sales conversations in front of the mirror or in a role-playing situation, right? Well, not according to John F Carroll – CEO of Insurance Splash.
He says that unless you’ve closed 100% of your sales, a great way to improve your technique is to go over the conversations where you didn’t get the sale and try different talk-paths that could have led to a successful sale. While you won’t get that sale back, the next time that objection, attitude, or conversation comes back around you’ll be equipped (and practiced) to handle it.
2 Use Social Media
This doesn’t mean posting more selfies on Instagram or making sports related status updates on Facebook. The world of social media can be a noisy one and sometimes it’s actually better if you post less but generate more engagement with your clients and potential clients.
Be creative, conversational and at times, controversial. Ask questions of people and find out what it is they need from a broker and be there to answer their questions. Remember, the social media environment is a replication of the real environment. Good feedback can go a long, long way.
3 Interact With Every Customer
There’s a saying that the best client is the one we never hear from… until the cancellation notice shows up. Try to call all of your clients, not just the ones that can be problematic. Come up with a process that involves reaching out to each of them throughout the entire year. Tie it to policy renewals, birthdays, or policy anniversary dates. Sure, it can be time consuming and requires additional effort but it also keeps them more informed and shows the value that only you can provide them.
4 Stop Delaying the Call-back
How often do you find you’ve reached the end of the day and have two or three calls to return? While it’s always easier deal with it in the next day, it may actually be better for your broker /client relationship to commit to answering those queries the same day – it’ll save you the frustration of doing it in the morning and will go a long way to keeping your clients feel valued.
5 Attend More Networking Events
Online social networking is big, a look at the LinkedIn membership numbers can quantify that, but it will never replace offline social networking in the insurance world.
While attending an event can eat into your day or night life, an industry breakfast or lunch, is a great way to rub shoulders with other people in the industry.
Volunteering for a charity or participating in other community events are also ways you can network with other local business owners and community members.
6 Talk Less, Listen More
As a broker you’re in the business of selling— and many sales gurus swear that by listening, rather than talking, means you’ll almost always have the opportunity to sell more, or provide better customer service because you’re focused on what the client truly needs rather than just trying to sell your product.
7 Get Some Online Reviews
What do you do when you’re looking to buy a major appliance? Do you believe everything the salesperson is telling you or do you put your faith in peer reviews from sites like productreview.com.? Most people put more stock in a peer review than an industry professional, so take advantage of it.
There are myriad business /service review sites around and websites like Google and Yelp are also getting much better at spotting fake ones—so you’re going to have to get real customers to write them for you. If you provide a valuable service, most people will be happy to provide for you.
