A Father’s Blessing

WatchinCasey Special Olympics Vol. 9.16.2017g our kids grow into solid young men has been an absolute blessing in my life.  My son Casey (shown) recently spent the day with his UT Swimming teammates giving back to the athletes competing in the Texas Special Olympics.

Casey is a blessing from above.  I could not love and admire this young man more.

 

2017 Pittsburgh Terrain Race – Tons of Fun!

A huge THANK YOU to all the employees and volunteers of this weekend’s Pittsburgh Terrain Race! Saturday was a beautiful morning accompanied by a high degree of discomfort on the course….well-done!  @Terrainracing

Terrain Race Pittsburgh Jun. 24, 2017 (3) - Copy2017 Pittsburgh Terrain Race Finish (10K)June 24, 2017 - Copy

 

 

Get Muddy For A Cause

The Next Generation OCR Team is proud to announce the 1st Annual Get Muddy For A Cause.  The team compiled of both great clients and friends will be completing the 2017 Pittsburgh Tough Mudder on September 10, 2017.  We are so proud to complete the course to benefit the Semper Fi Fund (https://semperfifund.org/).

The Semper Fi Fund provides immediate financial assistance and lifetime support to post-9/11 wounded, critically ill and injured members of all branches of the U.S. Armed Forces, and their families, ensuring that they have the resources they need during their recovery and transition back to their communities. Since establishing the Semper Fi Fund in 2004, they’ve issued 137,000 grants, totaling more than $150 million in assistance to over 18,500 of our heroes and their families.

Please go to our Team Site to make a small donation.  Every little bit truly helps!

Team Full Muddy Jacket –

https://fundraising.semperfifund.org/fundraise/team?ftid=117800

Thank you!

SFFIMG_08362016 TM

The Next Generation…They’re Green?

go_green
To be clear, I am in no way suggesting you grab your family each morning for a group hug around the large tree in the front yard.  Nor am I suggesting you begin capturing rain water in large pails to bathe.  BUT, I am suggesting we all listen a little more clearly to what our children’s generation is shouting out. While on the phone recently, my 20-year-old son Casey, made me consider how valuable and important simply sustainability could be.  Guess what, it could not be more simple – living green and sustainable means creating a lifestyle that works with yourself and nature, instead of against it, and does “zero” long-term or irreversible damage to any part of the environment.  Living “large & in charge” in old news.  Living “smart & simple” is well, SMART!
Casey Mission to Haiti 2014
 As a parent that has attempted to teach his children the X’s & O’s of life, it is so gratifying to know that I can learn a few things from them. I could not be more proud that my son is majoring in Sustainable Design & Architecture at the University of Texas.  If he one day chooses to live in a sustainable designed tiny house with his family, I will be blessed to have taken a small part in raising such a good and caring human being.
My family tree is clearly starting to bloom  🙂

AIG Parters Group – The Next Generation Agency is Hiring!

About AIG Partners Group, LLC – The Next Generation Agency

We are one of the world’s largest insurance organizations with 160 years of business experience and over $537 Billion in assets.
We offer a hybrid distribution model offering the best of both worlds from traditional career channel and a brokerage model.
We are relationship driven at both MGA and Producer levels and committed to learning the product and how to market differently (needs rather than just cost driven). We are committed to your success!

The Service Platform at AIG Partners Group is second to none. Our support includes training, dedicated website for product, marketing information, new business applications, and forms. We use state of the art E-station for servicing our clients, pending cases and in-force business.

Compliance approved advertising material is at your fingertips with advanced marketing capabilities and an outstanding illustration system that is backed up with illustration specialist ready to assist with any questions you may have.

We have an innovative product suite offering extremely low-cost term as well as investment grade Indexed Life products. All include our no cost, best in industry, critical, chronic and terminal illness coverage up to 1.5 million in coverage as well as a disability income rider.

We also offer recognition and global conferences for you and a guest as well as top commissions and bonuses to help you earn the type of income you deserve.

We are selective about the partners we choose. We also know that the Quality of Life Insurance story will bring you to us, but it’s the relationship that will keep you with us.

Contact us so we can further discuss your future with us. 1-800-207-842 or visit our Careers Link / Website at Thenextgenagency.com/careers

Study Shows We Need To Start Saving Longer For Retirement

Retirement PiggieIf you’re currently retired, chances are you worked hard to ensure that your retirement would be financially stable. For those who are currently working, this will be even more of a challenge. According to a new HSBC study, working people of today are expecting to spend much more time saving for retirement. Researchers interviewed more than 18,200 people across 17 countries either face-to-face or online. Through this research, HSBC discovered that workers in the U.S. now believe they will have to save for an average of three decades in order to feel financially secure for retirement. That’s seven years more than the previous generation had to save.

Investors have started to shift the way they think about retirement after seeing the challenges of those who have retired or who haven’t planned effectively for retirement. A large number of people in their forties are supporting other people, such as their children and their aging parents. These people and the people who are watching them are becoming aware that they need to take an active role in preparing for retirement.  

The UK’s citizens are especially concerned about their economic future after the Brexit. It is too early to decide what the long-term of the impact of the Brexit will be. That said, pre-retirees should always be ready for potential financial turmoil. In fact, global growth and an ageing population are causing concerns about the retirement of future generations all around the world.

HSBC’s research, which was conducted prior to the Brexit vote, shows that the U.K has pre-retirees expecting to save for an additional seven years, just like the U.S. The country whose working community is expected the struggle the most is China, where pre-retirees are expecting to save for an additional 14 years, bringing their total up from 9 years to 23 years.

The United Arab Emirates, France, Hong Kong, and Australia, are also expected to suffer, with each average working citizen planning to save for an additional 10 years or more. Indonesia, on the other hand, is the only country that doesn’t expect to save for any longer than it currently does.

In addition to an increase in the amount of time working people will need to dedicate to saving for retirement, there is also a shift in the ways that working people intend to save. Instead of traditional state pensions, workers are looking to alternative saving methods such as personal pension schemes, cash savings and deposits, and downsizing or selling property. Over a third of the working population stated that they wish they’d begun saving earlier on. Twenty-four percent said they hadn’t begun savings. This group included 12 percent of people in their sixties who were studied. However, the working population is getting overall more financially conscious. But this doesn’t mean they are free of worries. Forty two percent of people who are saving to prepare for retirement admitted to having stopped or having faced challenges.

While people save in different ways, it is important that individuals start saving for retirement as early as possible. In addition, it is important to get advice from professionals and to consider the essential retirement expenses. But the most important piece of advice for retirement savings is to always be prepared for ups and downs.

Lower Premium Volumes Don’t Stop AIG’s Profit From Rising

AIGFor the second quarter, American International Group Inc (AIG) posted a 6.3% increase in net income while it intentionally shrank the amount of insurance sold. This was all part of a plan to satisfy activist investors and to bolster returns. AIG also cut costs dramatically in order to bring down the expense ratio in its property-casualty insurance operations. This process allows AIG to follow through on a promise made in a January 26 strategy update.

Despite its valiant efforts, AIG’s operating income fell 41%. This was likely due to a sharply higher level of claims for catastrophes at a time when interest rates led to upward adjustments of certain claims reserves. At the time the interests were lower than in the year-earlier period.

The per-share operating result beat the consensus expectation of analysts. However, there will definitely be efforts to gain sight of ways that AIG can improve its sluggish performance in the stock market.

Analysts are hoping to get more detail on AIG’s promise to return at least $35 billion in share buybacks and dividends through 2017. This ambitious goal is likely to be filled partially from divestitures as well as possibly through a public offering later this year.

AIG has stated that it returned $3.2 billion of capital to stockholders during the second quarter and had purchased $698 million of common stock since the end of the quarter. Its year-to-date return of capital totals to about $7.9 billion. In a separate release, the board said that it would add $3 billion to its stock buyback plan.

Recently AIG has reported that the volume of selling casualty and property insurance to business clients decreased by 21%. This is AIG’s core area of business and was being monitored very closely. This decrease was mostly due to AIG’s choice not to renew policies in certain product lines that weren’t performing well. In addition, AIG refused to lower prices for potential buyers despite the fact that rivals were intensely competing for business.

In one year, AIG’s net income increased from $1.68 billion to $1.91 billion. To put it in terms of shares, that’s an increase from $1.32 a share to $1.68 a share. AIG recently received $928 million of gains from selling shares in PICC Property & Casualty Co. in China. In the same period of time, operating income decreased from $1.89 billion, which is $1.39 a share, to $1.11 billion, which is 98 cents a share. Analysts were predicting 93 cents a share.

In the earning release, AIG Chief Executive Peter Hancock stated that the results demonstrate a big step toward the goals set by AIG’s board in January. He also said that their confidence was high that they would hit financial targets set for 2017.

Messrs. Paulson and Icahn advocated a three-way split before they joined the board because they felt this would help AIG escape its designation as a “ systemically important institution” by federal regulators. This designation makes AIG subject to capital that is to-be-determined, as well as other rules.

Mr. Hancock still feels that a split is not in the best interest of the shareholders. In the January update, he promised to reorganize AIG’s life-insurance and property-casualty operations into nine units. He also promised to cut costs more sharply and to return more capital to shareholders and potentially sell any business that doesn’t performs suitably. There’s no telling exactly what will happen, but it looks like there’s an exciting year ahead for AIG.

Living Benefits

Insurance DefinitionMost people think of life insurance as something that is useful only after death. However, this is not always the case. There exists a life insurance option that can be used in the case of dealing with a chronic or terminal illness as well. This option is called Accelerated Death Benefits, or Living Benefits. The money involved in this life insurance policy is paid to the policy owner before death if he or she suffers from a chronic or terminal illness. It can be added to a current insurance policy at no extra cost, and helps patients and family keep on top of medical bills and be prepared for scenarios such as premature death. 

There are a various number of health-related circumstances that would qualify a policyholder for Living Benefits. For example, someone with a terminal illness, with a projected death date taking place in or under 24 months, is eligible. Additionally, any chronic illness that has been proven to reduce life expectancy would make a person qualified. It is important to note that such chronic illnesses would include medical conditions such as AIDS or heart disease. Another factor that would qualify someone for Living Benefits is if that person contracts some sort of illness that requires extreme measures to treat, such as an organ transplant. Also in the category of someone who can file for Living Benefits is an individual with a condition that necessitates long-term care, as he or she is no longer able to complete normal daily activities. Finally, Living Benefits are also available for those who live in nursing homes.

An Accelerated Benefits policy is adopted either by being added to your insurance premium, or included in a policy for a small amount of money. If the premium option is selected, your policy will not be cancelled, which is a fear for many who contract serious illnesses. It will not replace your long term benefits, so much as ensure that other life insurance savings will not be depleted by a need to pay for long term care. The money from this policy can be paid monthly or in a lump sum, depending on your insurance provider.

Of course, Accelerated Benefits are more often added on to certain life insurance policy over others. For example, Universal Life Insurance policies are more likely to have Accelerated Benefits added onto them than other insurance policies, as are several other permanent life insurance options. They may also be available through group term and permanent life policies. Accelerated Benefits are monitored very closely by insurance providers and come with qualifying conditions that trigger early payment.

In such uncertain economic times, it is necessary to maintain a certain level of financial control. Life insurance is here to protect against risks, and Accelerated, or Living, Benefits help families and individuals do just that.

For more information, head over to The Next Generation Insurance Agency, LLC.