Life Insurance Definitions

Beneficiary
The person(s) named in the policy to receive the life insurance proceeds upon the death of the insured.

Cash (Surrender) Value
The amount that is available in cash for loans and that may be available for withdrawals. Accessing Cash Surrender Value may reduce the death benefit and may increase the risk of lapse.

Convertible Term Insurance
Term insurance which can be exchanged (converted), at the option of the policyowner and without evidence of insurability, for a permanent insurance policy.

Dividend
A return of part of the premium on participating insurance that is based on the insurer’s investment, mortality, and expense experience. Dividends are not guaranteed.

Face Amount
The amount stated on the face of the policy that will be paid in case of death. It does not include additional amounts payable under accidental death or other special provisions, or acquired through the application of policy dividends.

Insurability
Acceptability to the company of an applicant for insurance.

Insured or Insured Life
The person on whose life the policy is issued.

Level Premium (Life Insurance)
Life insurance for which the premium remains the same from year to year. The premium is normally more than the actual cost of protection during the earlier years of the policy and less than the actual cost in the later years. The building of a reserve is a natural result of level premiums. The payments in the early years, together with the interest that is to be earned, serves to balance out the underpayment of the later years.

Loan (Policy Loan)
A loan made by a life insurance company from its general funds to a policyowner on the security of the cash value of a policy.

Paid-up Insurance
Insurance that will remain in force with no need to pay additional premiums.

Participating Policy
A life insurance policy that is eligible for the payment of dividends by the insurer (see also Dividend.)

Permanent (Life Insurance)
Any form of life insurance except term; generally insurance that builds up a cash value, such as whole life.

Policyowner
The person who owns a life insurance policy. This is usually the insured person, but it may also be a relative of the insured, a partnership or a corporation.

Premiums
Payments to the insurance company to buy a policy and to keep it in force.

Renewable Term Insurance
Term insurance which can be renewed at the end of the term, at the option of the policyowner and without evidence of insurability, for a limited number of successive terms. The rates generally increase at each renewal as the age of the insured increases.

Term Insurance
Life insurance that does not build up cash value and where the premium normally increases as the insured gets older.

Universal Life Insurance
A flexible premium life insurance policy under which the policyowner may change the death benefit from time to time (with satisfactory evidence of insurability for increases) and vary the amount or timing of premium payments. Premiums (less expense charges) are credited to a policy account from which mortality charges are deducted and to which interest is credited at rates which may change from time to time.

Whole Life Insurance
A basic type of permanent life insurance which can provide lifetime protection at a level premium. Premiums must generally be paid for as long as the policy is in force.

How To Overcome Call Reluctance When Telephone Prospecting

This describes mlm leads, mlm lead training, how to overcome call reluctance when prospecting your mlm leads list and network marketing leads.

One of the most requested calls for help that Mike Boggs our in-house Master MLM trainer receives is on becoming a better telephone prospector.

As a matter of fact I’m willing to go out on a limb and say that telephone prospecting will strike more fear in an otherwise confident poised professional network marketer. The telephone is just something we all dread.

So what exactly is Call Reluctance? Seriously have you ever really sat down and thought through why you are reluctant to pick up the phone and call your MLM Leads?
Here is my definition of Call Reluctance:

Reluctance (re-luk’tans) a common word used by Network Markers to describe an otherwise potential MLM Pro, who is totally afraid of making a prospecting call.
Now that you have read my definition, I bet I am close to how you may feel when you go to make phone calls.

In some extreme cases, I have seen folks STOP buying quality MLM Leads and start buying cheap autoresponder leads, just so they don’t have to make calls.

I remember my first few times of calling prospects. Or I should say TRIED to call prospects. I was so scared to make the call that I procrastinated until it was too late to call people even on the west coast. It was truly a crippling anxiety, that ALMOST ended my MLM career.

Then one day sitting in a training class, I had the trainer ask everyone a very simple question… “How many no’s do you need before you get a yes?” No one had an answer. He quickly pointed out that in his niche, on average he would get 21 no’s before he would receive a yes. But that yes would earn him $750.00.

So I did the math real quick and realized that for every NO he received he was banking for future earnings $31.72.

So, you can guess what I did. I started keeping track of my NO’s. Well after 30 days, I had my average. Unlike his niche, it didn’t take me 21 no’s, on average I would receive a yes after 7 no’s. My average commission per sale was $2500.00, so for every NO I received I was banking future earnings of $357.14. That was the end of my phone reluctance.

But, during the time it took me to overcome my call reluctance I learned some valuable lessons I would like to pass to everyone who may be facing the same crippling anxiety.

Troy’s ten Steps to Overcoming Call Reluctance:

1. Admit Your Scared: Call Reluctance is caused 100% of the time from FEAR! Fear of failure, fear of rejection, fear of hearing NO, fear of not knowing what to say, fear we may succeed.

Troy’s Truth: So, instead of doing nothing, face your fear head on; pick up the phone and make a call.

2. No Pain, No Gain: Once you have faced your fear, it is time to dig deep inside your heart, and decide right now that you are 100% committed to creating the life you want. You are willing to start training new muscles, in this case BRAIN muscles. When you do weight training you cause your muscles to hurt. But you realize the pain will allow your body to become stronger, healthy, more attractive. And with a new body comes a new life.

Troy’s Truth: Whatever roadblocks you face in your MLM business, you must have a dead fast determination to overcome them… starting with picking up the phone and calling your first MLM Prospect.

3. Design Your Dream Into Reality: How can you build anything, if you do not create the design? The same rings true with your own life.

Get out a piece of paper and a pen, and start to write down exactly what your perfect life will look like. The perfect house you will live in. The perfect spouse you will go through life with. The perfect family you will enjoy. The perfect business you will create. The perfect business partners you will attract. Don’t hold back – Dream Big or Don’t Dream at ALL.

Now, that you have created your perfect life. It’s time to bring it all home and create your perfect daily action plan to reach it. What time will you get up, how long will you workout. When will you start work. How many calls a day must you make to work through your NO’s to get your YES and attract your new business partner?

Troy’s Truth: Remember, only YOU can design your Dreams into Reality!

4. I Said JUMP: You can stand on the cliff all day long watching other leaders jump into the wonderful world of turning their dreams into reality, or you can join them. The only way you will reach the success you desire is to take the first jump!

When I started my MLM business, I had come out of a door-to-door selling job. I was a rep for Mason Shoes and would knock on doors 5 or 6 hours a day, leaving show magazines for folks to review, then coming back and picking up their order (I would make a great Avon man. So when I realized if I was going to make it in MLM I would need to pick up the phone, smile and dial I was not real excited.

Well, I figured if I was going to make this work, I should practice, so I grabbed a white pages phone book and started calling people on the other side of the city, so if they did tell me know, or I screwed up to bad, they would not know who I was, and it wouldn’t matter.

So, get into your MLM Leads back office read the script and take the JUMP!

5. Personal Responsibility: You and only YOU can decide if you are going to overcome Call Reluctance. So take charge of breaking the bonds that are holding you back. Never stop learning and becoming a better more creative in your presentations.

But, I do want you to remember, what works today, may not work tomorrow. I can remember when I first joined MLM, I was told, “Fake it, till you make it.” Well if you try that today, you’ll be out of business before you get started. Your MLM prospects will listen to what you have to say, then go do a search to see if you are real or not.

Troy’s Truth: Always be transparent and authentic.

6. Conquer The Voice Mail Box: 7 out or 10 times I would get a voice mail box (Well in the old days it a was voice machine), so I had to learn very quickly how to give my presentation, so when people picked up their messages, they would want to call me back.

So, what I did was pretend that the voice I heard was the real thing, and I prepared myself to give the best presentation I could just like I was talking to a live person. Well, you can imagine what happened; the tape would run out before my presentation was over. I got so many calls back, but they were people telling me NEVER call again, you took up all my recording time.

So, here is what you want to do…

Personalize your message, come across as if you are meeting face-to-face.
Second, state the benefit they will receiving in calling you back.
Third, don’t talk to much.

Here is an example… “Hi John, sorry I missed you. Troy Dooly here and I think I may have the information you asked for. However, I do have two more questions to ask, before I will know for sure. I’m going to call back later tonight, but if you get this before I call please call ASAP xxx-xxx-xxxx.

7. Look in the Mirror: When I first started making calls, I would sit a mirror in front of me, so I could see how my face looked each time I made a call. No, I did not do this cause I love looking at myself, like John Travolta in “Welcome Back Carter.” I did it so I could make sure I was always smiling.

So, watch and be mindful of the tonality of your voice, mirror the tonality of your MLM prospect. If they are soft spoken, look in the mirror to make sure you are relaxed and connecting.

8. Get Excited: It is never smart to get on the phone when you have had a bad day at your JOB, or you just got into an argument with your spouse (especially if you lost.) If you are going to get on the phone and overcome your call reluctance, then do it right.

Take a shower, shave, put on your makeup (for women… most of the time), get dressed up for your business, and go to work! Don’t ever get on the phone if you are not completely FOCUSED!

9. Something To Believe In: So many times I have seen people who have call reluctance, have it because they are burned out, and really don’t believe in what they are marketing.

So if you are a MLM Pro and all of a sudden you find yourself with Call Reluctance, then maybe it’s because you are burnt out, and need a change.

10. Meet The Needs Of your MLM Prospects: Don’t try and sell your MLM prospects. Instead look for ways to fill their needs. Here is how I did it. Today there are several other methods, but this is tried and true.

Use the FORM Method…

F = Family: ask them about themselves and their loved ones?
O = Occupation: What are they doing now, are they doing what they love?
R = Recreation: What do they love to do for fun?
M – Motivation (Money) What would you love to do for a living it we lived in a perfect world?

This described mlm leads, mlm lead training, how to overcome call reluctance when prospecting your mlm leads list and network marketing leads.

Never Give Up,
Troy Dooley
Website: mlmleads.com

Tips to Boost Finances In a Tough Economy

It’s been a tough year financially for many families due to a sluggish economy.  In times like these, many people look for ways to cut costs and stash more cash to tide them over until the recession eases.

We presents three tips for boosting finances in a tough economy.

1. Make Positive Changes Last. Many surveys show that Americans are shifting their priorities in profound ways.  For example, 63% say they are less materialistic, and 70% say they consider spending time with family more important than ever.  63% vow to no longer carry a credit card balance, and many are saving more. The personal savings rate has soared to 5.7%, the highest since 1995.1 Once families adopt these changes, it’s a good idea to continue them even when the economy gets better.
2. Pay With Cash or Checks. People who pay with credit or debit cards tend to: buy more things, pay a higher price for them (sometimes twice as much) and become less aware of how much they’ve spent than those who pay with cash or checks.2 Clients can avoid these pitfalls by putting plastic away for good.  One way to get into the habit of using cash for everyday purchases is to set up a cash envelope system with one envelope for groceries, one for entertainment, etc.
3. Earn Extra Money. Start a part time business or work a few hours a week at a second job to beef up a college savings or retirement savings account. Business opportunities, such as our part or full time opportunity, are great ways to do something enjoyable while earning extra money each month.

Interested in any of our services or our business opportunity, please contact me, Joey Basta and I can help you move forward towards your goals.

Beware of Debt Payoff Scams

Press Release, June 16, 2009

A recent survey shows the median amount of household credit card debt is $6,600 and the average debt load is almost $9,900.  Further, of the 88 million credit card-carrying households, 61% carry a balance from month to month.¹

For clients who feel like they’re sinking under the weight of debt, looking into a debt or credit “help” firm may seem like a good idea.  But some of these firms that promise to eliminate debt or repair credit may not be operating in compliance with the law, and doing business with them could have long-term negative effects on the client’s credit report and ability to get credit.

We urge our clients to beware of six key “red flags” when researching a debt elimination or credit repair service.²

Red Flag #1: The company wants the consumer to pay for credit repair services before any such services are actually provided.

Red Flag #2: The client is not made aware of their rights and no information on what can be done for free is provided.

Red Flag #3: The firm recommends the client does not contact any of the three major credit reporting companies directly.

Red Flag #4: The client is told that the debt firm can get rid of most or all of the accurate negative information in their credit report.

Red Flag #5: The company suggests the client invents a “new” credit identity.

Red Flag #6: The client is advised to dispute all the information contained in their credit report regardless of its accuracy or timeliness.

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Of all the threats to your financial security, none is more dangerous than debt. If you’re nearing a crisis point and your debt payments are consuming your disposable income, consider a debt consolidation loan through us.

What is a debt consolidation loan?

With a debt consolidation loan, the lender pays off your creditors and combines all the balance amounts into one loan with one fixed payment. Once you’ve consolidated, you’ll usually begin to make lower monthly payments. You can then apply the extra money you’ve made available toward your debt freedom and retirement saving.

Develop good habits

But remember, once you consolidate your debt, it’s critical that you close your credit accounts. It’s important to develop the discipline for paying cash only, otherwise you might end up where you started.

For more information about debt payoff scams, contact the Federal Trade Commission at: 877-FTC-HELP (877-382-4357) or visit www.ftc.gov.  To learn about our debt solutions, contact me, Joey Basta.

Do you think you have the best network marketing product in the world?

Watch this short but to the point video by Carlos Aponte Jr. Network/social marketing soldier. He tells the truth and pulls no punches when it comes to training and teaching. He has the number 1 tell it like it is blog for network marketing professionals – http://www.carlosapontejr.tv/

Do You Think You Have The Best Network Marketing Product In The World?

Homebuying Tips

Choosing a home is one of the most important decisions you will ever make. Follow these steps to make this complicated process go as smooth as possible. Remember, when buying a home, you should always use a professional real estate agent.

4 Steps To Buying a Home
READ FULL ARTICLE
By Dave Ramsey

Six Reasons a Roth IRA May Be a Good Investment

For the first time in a long time, Americans are saving more and spending less – and many economists expect that savings trend to continue rising.1

We are a financial services industry leader. We present six reasons why opening a Roth IRA may be a great way to prepare for the future.  In fact, Kiplinger’s Personal Finance magazine labels today’s Roth IRA as “Best all-around retirement account.”2

1. Clients pay less tax on savings.  For older savers, this means an IRA can help rebuild any losses to their nest egg.  Younger savers stand to gain even more, because they have more time to invest their savings and let them grow tax-free.
2. Contributions and earnings can be withdrawn tax-free after age 59 ½. This applies to accounts that are at least five years old – making it a great choice for long-term savers.
3. Families can tap earnings early to pay for college or buy a first home.
4. Savers can withdraw contributions (but not any earnings) to a Roth IRA tax‑free and penalty-free at any time.  This benefit could come in handy if an unexpected major expense or emergency arises.  Of course, by withdrawing funds early, the client also gives up future earnings on that cash.
5. For 2009, you can contribute up to $5,000 into a Roth plus an additional $1,000 for clients age 50+, subject to income limits.3
6. As growth in a Roth IRA may be tax-free, clients are encouraged to consider converting a Traditional IRA to a Roth IRA.  During 2009, the opportunity to convert a regular IRA to a Roth IRA is only available to those who have a modified adjusted gross income of $100,000 or less. However, this income restriction is scheduled to be completely eliminated in 2010. A conversion has tax consequences.  If you are considering this option, you should consult your tax advisor.

For young people just starting out, the Roth IRA is an excellent choice because it allows them to enjoy tax-free growth with the flexibility to withdraw contributions (excluding earnings) any time, tax- and penalty-free.  Older savers can enjoy a special “catch up” provision that allows them to save an extra $1,000 in a Roth.

We help clients make an informed decision about how to best utilize their money.  Clients are encouraged to contact me, Joey Basta to learn more about our free, personalized financial snapshot.

1 Foxnews.com, February 1, 2009
2 Kiplinger’s, December 2008
3 For the year 2009, married individuals who file jointly can contribute $5,000 ($6,000 if 50 or older) to a Roth IRA if their modified adjusted gross income (MAGI) is below $166,000.  If their MAGI is between $166,000 and $176,000, then they can contribute some amount less than their full limit.  If their income exceeds $176,000, they are not eligible to contribute to a Roth IRA for 2009.

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1. MSNMoneyCentral, viewed January 15, 200
2. MSNMoneyCentral, viewed June 11, 2008
3. Money, March 2008

We are the largest financial services marketing organization in North America, with more than 100,000 licensed independent representatives.  The company provides its 6 million clients with quality financial products and services, including term life insurance, mutual funds, variable annuities, loans, auto and homeowners insurance and long-term care insurance. We conduct business in the US, Canada, and Puerto Rico; the company also operates in Spain.

Three Tips for Weathering a Recession

• by Kerry Maffeo

The current economic downturn has many families worried about losing their job, struggling to keep up with bills and worried about the future. The outlook seems bleak – 11.6 million Americans are unemployed¹ and third quarter 2008 foreclosures jumped 71% over the same time period the previous year.²

We present to you four tips to help your finances weather a recession.

1. Slash and burn bills wherever possible. An easy place to start: auto and homeowner’s insurance. “Some insurers give long‑time customers up to a 10% discount, but that can pale in comparison with the savings from switching insurers. At least once every two years, get a quote from another insurer.”³

2. Keep good credit. To keep that all‑important credit score attractive, make sure you pay your bills on time, limit the number of credit cards you have and avoid financing more than one big‑ticket item at once.

3. Boost income. Start a part‑time business or work a few hours a week at a second job to get through a crunch. Our business opportunity is a great way to do something enjoyable while earning extra cash each month. You can do the business part time or full time and work at your pace, on your schedule!⁴

Times are tough, but following these simple tips can go a long way to helping you and your family come out on the other side of the recession with your long‑term financial goals still intact.

If your interested in earning extra income, contact me, Joey Basta to take the first steps to earning an extra income.

1. Kansas City Star, www.kansascity.com, February 6, 2009
2. www.CNNMoney.com, October 23, 2008
3. Money, November 2008
4. In Canada, the part‑time option is not available in all jurisdictions and, where it is available, is subject to certain restrictions.

Social Media vs. Social Networking: What’s the difference?

Image by Brian Solis of FutureWorks

For those of you who are new to social networking, here is a great article by Mark Stelzner. He explains the difference between social media and social networking. Social networking is a great tool for your network marketing business or any business that you have. Enjoy!

Go to Mark’s Home Page

At first glance, there seems to be a fairly obvious distinction between Social Media and Social Networking.  And given that I consider myself fairly web savvy – I blog, I tweet, I ‘friend‘, etc. – I didn’t think I’d have a hard time nailing down the definitive characteristics of each term.  But like many things in the rapidly evolving online world, sometimes the apparently obvious can be the most complex.

Lon S. Cohen attempts to provide an explanation in a recent post on the cohcom blog:

Social Media can be called a strategy and an outlet for broadcasting, while Social Networking is a tool and a utility for connecting with others.

The difference is not just semantics but in the features and functions put into these websites by their creators which dictates the way they are to be used. There’s also a kind of, which came first, the chicken or the egg kind of argument to be made here. I suspect that Social Networking came first which evolved into Social Media.”

Lon further distinguishes which sites/tools fall into which category.  LinkedIn?  He calls that social networking.  YouTube?  It’s social media.  And what about Twitter and Facebook?

Twitter and Facebook are Web 2.0 sites with the whole package. They straddle the Social Media and Social Networking divide perfectly.”

Still confused?  Well here’s perhaps a simpler way to process the divide.  Social Media are tools for sharing and discussing information.  Social Networking is the use of communities of interest to connect to others.  You can use Social Media to facilitate Social Networking.  Or, your can network by leveraging Social Media.  If you’re still scratching your head, be sure to watch a terrific Social Networking 101 video below.  Don’t be daunted, because knowing the web, I’m certain we’ll be wrestling with new terminology soon.

For more info: Social Networking in Plain English (video)

Network Examiner
www.Examiner.com

Network Marketing Training – Create Your Success Story

I have written many blogs about network marketing, training, and the industry as a whole. There is so much to take in, and so many different angles that you can look at, though, that I’ve got plenty left to share with my faithful readers (psst… that’s you). Let’s talk about the difference between finding and creating a successful business, network, or life in general. Human nature doesn’t have a lot of room to play after growing up in today’s society, which makes most of us very passive. When we don’t get what we want, we chalk it up to being ‘not meant to be’ and move on to the next thing.

Here’s a little secret that I want to share with you: success, in business and in life, isn’t discovered or found. It is created. You have to take the reins. If you want to start a network marketing business and be successful, then do it. Nothing is stopping you, except for your own reservations. Don’t waste time making up excuses or talking yourself out of it.

THE BIGGEST CAUSE OF FAILURE IN NETWORK MARKETING IS THAT PEOPLE MAKE EXCUSES INSTEAD OF CREATING RESULTS.

I can guarantee you that the road is going to be hard, and that it’s going to take a lot of time. The thing is, though, if you truly want to create a better future for yourself, you need to take responsibility for yourself, and take your success from life, whether it is being offered to you or not. Anyone can try to start a business, but without the right level of commitment and focus on success, almost 95% will fail. If you’re here, reading my blog, I’m going to assume that you want to be in the other 5% along with the success stories.

What are you waiting for? No one is going to hand you that success and you can’t wander around ‘looking’ for your perfect career. You have to create it. Creation is the first step to business success when it comes to network marketing. It is your decision to do this, your choice as to the future you create. Are you going to take what you’ve been given or are you ready to create your own success story by starting a career in network marketing? Even if you’ve already started, you haven’t failed yet. If you had, you wouldn’t be here. Start over, and do whatever it takes to invent your own success and make it what you will.

Carlos Aponte Jr.
The Real Network Marketing Scoop
http://carlosapontejr.wordpress.com