Welcome to InsuranceForums.info!   


Sponsor Links

Affordable Pet Insurance
Travel Insurance Comparison

Within The Last 2 Weeks,...

Discussion forum for Insurance Agents

Within The Last 2 Weeks,...

Postby ocumwhowurst » Mon Mar 03, 2014 9:00 am

Within the last 2 weeks, after I examined the yearly in force plan pictures with clients, 6 clients described their CPAs particularly suggested NYL custom life time and guaranteed lifetime income items.
What Is happening here? Are they managing a advertising campaign? For instance, this week, a customer's CPA suggested him to purchase a WL item utilizing the cash from the matured Disc (about $200K). I have not looked over the depth suggestion however. But I scanned a full page of the advertisements in the customer. The CPA suggested a NYL broker to him. I believe the WL is organized being an MEC ($50K whilst the foundation DB with big dump in rates as PUAs). Customer doesn
Posts: 205
Joined: Tue Sep 18, 2012 10:24 am

Cpa And Nyl Products

Postby Balldwin » Fri Mar 07, 2014 5:32 pm

My dad is a NYL agent for 60 years and has been talking about this for a few months, lots of agents writing large premiums.
Posts: 59
Joined: Fri Feb 21, 2014 11:16 pm

Cpa And Nyl Products

Postby Avshalom » Sat Mar 15, 2014 4:53 pm

An accountant or lawyer who rerfers company to your particular broker or indicates a particular item, never found out about that happening before.
...oh wait I used to rehearse in Central NY wherever MONY was the most truly effective selection of 9 our of 10 lawyers, till somebody needed to go and piss in the pool by speaing frankly about the kick-backs
Putting Disc cash into life-insurance, occurs constantly, not-too bad a method even when MECing for older people. It is as an award having a large tax-free dying benefit.
Posts: 61
Joined: Fri Jan 31, 2014 5:05 am

Cpa And Nyl Products

Postby Somerville » Thu Apr 10, 2014 7:36 pm

People migrate to what they perceive to be "safe" harbours for their money. NYL is a safe bet for most folks.

You can toss out a hundred reasons why you feel they aren't. Doesn't matter, it's what the client thinks.
Posts: 62
Joined: Tue Apr 08, 2014 4:16 pm

Cpa And Nyl Products

Postby Burt » Thu May 01, 2014 8:09 pm

I'm always amazed how many people ask their CPA for life insurance advice.
I've never asked my auto insurance agent for accounting advice.
Posts: 56
Joined: Sun Jan 19, 2014 8:42 am

Cpa And Nyl Products

Postby Torion » Sat May 10, 2014 11:46 am

There is no CPA marketing campaign that I know of (I keep in touch with a fair amount of NYL agents).
But over the past 4 years they have had a huge marketing campaign touting their strength and stability.

They have marketed this to white collar professionals through professional periodicals and things of that nature.
CPAs where definatelly a target market of that campaign.

And the one thing that a CPA does not want to do is loose his clients money.
I have found that CPAs will look at financial strength before product quality or even appropriateness.

If the CPA recommended a specific NYL agent, then he definitely has some type of agreement with that agent, and is most likely taking a cut or referral fee of some type.

He also apparently trusts that agent and his advice.

NYL has a good WL product, but there are better products out there imo.

The Custom WL is a policy that is automatically overfunded, plus it receives a higher dividend rate than their other WL policies.

You choose the exact number of years for the policy to be "guaranteed paid up"; but you cant pay premiums beyond the chosen number of years.

It is their answer to other carriers 10pay, but its more flexible.

Their GLI "guaranteed lifetime income annuity" is a very strong product and is hard to beat.

It sounds like your local NYL agents have done a good job of marketing themselves as well as their company.

A CPA will not recommend a specific agent along with a company unless they have been given good reason to do so.
And the only reason to have good reason to recommend a specific agent is a very strong professional relationship.

Unless the agent is just way off mark, it sounds like this will be tough for you to win over.
Posts: 43
Joined: Thu Feb 06, 2014 9:30 pm

Cpa And Nyl Products

Postby Pierce » Wed Jul 02, 2014 7:21 am

I understand that Bulk provides a "CPA/Lawyer" coalition plan where an LLC is created between your CPA/Lawyer along with a specific broker. <br />
1. They are able to reveal income in the purchase of insurance & opportunities, <br />
2. Not need certification or submission obstacles in the CPA/Lawyer and <br />
3. There's a brand new "hostage" marketplace for several their clients.<br />
I actually don't understand if NYL provides a comparable plan, however it can be done?
Posts: 54
Joined: Tue Jan 21, 2014 11:25 pm

Return to Insurance Agents


  • Related topics
    Last post