Some of the 2009 legislative issues we discussed include: • Opposition to Taxation of Agent Commissions Tim Meenan (right), our NAIFA-Florida Lobbyist, is doing a great job keeping up with these issues. If you would like a copy of the position paper with these issues explained in depth, just contact Cherri Coombs-Ohmer at our association office at NAIFA-Jacksonville@bellsouth.net or (904) 695-2300. Did you know that each issue of the quarterly NAIFA-Florida Journal has one or two FREE credits of CE in each issue? You just study it, request the test, and mail it in. The issue that mails next month will have a Long Term Care CE course that DFS has just approved. It's just one of many member benefits from NAIFA-Florida. If you would like courses from previous issues, contact Paul Brawner, our Director of Professional Development, at brawner@faifa.org. I would like to close with mentioning membership. Membership is crucial for the success of our Association. Please, if you know someone who is benefiting from our industry, but is not a member, encourage them to join. They are benefiting from our efforts without paying their membership dues. It only costs about 1 dollar a day... Best Regards, Chris
The cost is $20.00. NAIFA-Jacksonville members who
Our guest speaker, Ron Maurno, is the Senior Vice President of Sales and Marketing, and he is responsible for all national account and wire house relationships for Capitas Financial Pinnacle Insurance in Jacksonville, FL. He has 30 years of experience in the finance and insurance industries, previously serving as a Senior Vice President of Prudential Securities as well as a Managing Director and Complex Manager for UBS Financial Services. If you experience problems with registering or have questions, please contact the Association office at naifa-jacksonville@bellsouth.net or call 904-695-2300. THANK YOU TO OUR LUNCHEON SPONSOR!
MARK YOUR CALENDARS FOR THESE UPCOMING NAIFA-JACKSONVILLE MEMBERSHIP LUNCHEON MEETINGS! March 25, 2009 • April 22, 2009 • May 27, 2009 • June 24, 2009 Visit our website at www.naifa-jacksonville.org for the latest updates!
Congratulations to NAIFA-Jacksonville’s 2008 C.G. Snead / J.F. Bryan, III Memorial Award Recipient:
Cherri was the 2007 recipient of the Stanley L. Stone Association Executive of the Year Award from FAIFA, and NAIFA-Jacksonville’s Community Service recipient in 2003. She is an IFAPAC contributor, a NAIFA – LILI graduate, and serves as the Association Executives Liaison to the NAIFA National Membership Committee.
Congratulations to all of our past C.G. Snead /
The NAIFA Industry Awards program was designed to recognize those life, health, multiline, and financial planning professionals who seek to maintain high standards in the insurance-based financial services industry. The three awards are the National Quality Award (NQA), National Sales Achievement Award (NSAA) and the National Multiline Sales Award (NMSA). By continuing to meet the standards set by the NAIFA Industry Awards for quality, dedication, and sales achievement, award recipients attain personal satisfaction, as well as evidence of a job well done. NAIFA members who reach these levels of achievement win more than an award – they attain recognition that distinguishes them as an outstanding professional. CLICK HERE FOR NAIFA-JACKSONVILLE'S NATIONAL INDUSTRY AWARDS WINNERS
"Gaining members to have our voices heard in Tallahassee and Washington" That caption is on the bottom of each and every e-mail our members receive from our local association office. On March 9th, they really did hear our voices in Tallahassee! Members from our local joined the other state locals in Tallahassee for our annual Day on the Hill. The day’s highlights included lunch with our fellow locals where we were able to hear from our state association on key issues to be considered by the Florida legislature during the current session. We heard from our NAIFA-Florida lobbyist, Tim Meenan, regarding the successes and challenges your association deals with in every legislative session. Key among these were: Stranger Originated Life Insurance (STOLI), HB 1167/SB 1882/SB 1924; annuity suitability and regulation, HB 0141/SB 2520; and the ongoing threat to the sales tax exemption on agents commissions, HB 1163/SB 2576.
To review: House Bill 1167 / Senate Bill 1882 consider the practice of investors (Strangers) inducing seniors in particular to purchase a life contract with the intention of signing over the contract to the investors as soon as the 2-year contestable period is satisfied (aka STOLI). These bills seek to prohibit this practice because there is no legitimate insurable interest at the time of policy inception. We urged the legislators to support these bills. Senate Bill 1924 (aka The Coventry Bill) runs in opposition to these bills. It appears to allow for heavy regulation of the practice, but in essence allows for STOLI and flies in the face of the requirement for insurable interest. Your association sees loss of insurance capacity and wagering on human life among the many negative aspects inherent in STOLI. Additionally, some legislators in Tallahassee and Washington have suggested income tax on the inside build up of cash and even the death benefit when involved in these types of arrangements. When I hear the words income tax and the inside build-up and death benefit in the same sentence, I begin to panic. House Bill 0141 / Senate Bill 2520 appear to have the State of Florida actually designing annuity contract for seniors with regard to withdrawal schedules, surrender periods, surrender charges, etc. We asked legislators to reconsider the advisability of the state designing insurance contracts. House Bill 0981 regarding felony convictions for agents found selling contracts deemed unsuitable for their client. We explained that we agree with penalties for unscrupulous agents. We stressed that there must be malicious or criminal intent to bring these penalties to bear, so that honest mistakes don’t cause a criminal conviction. And finally, House Bill 1163 / Senate Bill 2576 consider the exclusion from state sales tax of, among other things, agent commission. The current budgetary climate of Florida will force legislators to revisit these sales tax exemptions to seek additional funds. We explained to our legislators that if the exemption from state income tax on agent commission was allowed to sunset, it would in effect place a discriminatory state INCOME tax on financial professionals, as we have no means to pass this tax through to our clients as other service professionals do. We found the legislators to be attentive and cordial (due, I’m certain, in no small part to our members PIC/PAC contributions). I feel they learned about our position and we learned more about the legislative process. I would encourage all to attend next year’s Day on the Hill. The size of our organization, locally and nationally, is proportional to the influence we have on our legislators. Jacksonville was recognized at our luncheon with the state association and other locals as the leading medium-sized local in the nation with regard to membership growth! Please share the many wonderful accomplishments of our local association with your colleagues and offer them the opportunity to become a part of this important organization. Be better today than you were yesterday, but not as good as you will be tomorrow.
CLICK HERE FOR NAIFA-JACKSONVILLE'S LIST OF CONTRIBUTORS! PLEASE CONSIDER A CONTRIBUTION TO YOUR POLITICAL ACTION COMMITTEE Click HERE to contribute to IFAPAC securely online, or click HERE to download a Contribution Form. For more information, contact NAIFA-Jacksonville IFAPAC Chair Jeffrey J. Tabor at (800) 945-9719 x.310 or e-mail jtabor@drgdi.com.
July 13-15, 2009 at the Ritz Carlton-Sarasota ~ Exceptional Learning 2009 ~ Possibly no other profession puts more of a premium on continuous learning than the insurance and financial advisor professions. Often this learning is to fulfill a C.E. requirement; sometimes it is a specific course required by law or DFS; or it may simply be to improve ourselves personally and professionally. Unfortunately, we often have to scramble to various locations at wide-ranging times to acquire this education. But what if we could find this education all in one place, in a compressed time period, and have it taught by the best instructors in an unforgettable setting? Why, that would be—well, EXCEPTIONAL! Welcome to Exceptional Learning 2009, NAIFA-Florida’s 77th Annual Career Advancement Conference and Expo. Take the first step today and register online by clicking HERE.
Looking for ways to give back to the community?
When producers ask us to run illustrations, they often ask to have the illustrations completed without any optional riders, usually, in an effort to keep the cost down. Although we run the illustrations as requested, we like to explain the importance of adding the Residual Rider. In presenting DI to producers, we often talk about four kinds of disabilities. The first one is a total disability, which eventually turns into a partial disability and then the client fully recovers. An example of this would be a heart attack. The second type is one that starts out as partial, goes to total and then eventually leads to death (i.e., cancer). The third type would be one that starts out as a partial disability and stays a partial disability - for example, a bad back. The fourth disability we talk about is one that starts out as total and stays total. An example of this would be an auto accident that causes permanent paralysis. The next time a client asks you to show a base policy without any riders, go over these types of disabilities. Point out to them that three out of four consist of a partial disability at some point. Only one type is a total disability that stays that way. Remind them that if they choose not to purchase the Residual Rider, then the only disability that would be covered is a total disability that stays a total disability. The policy would not cover a partial disability caused by a bad back, nor would it pay the insured who is attempting to come back to work part-time after spending the last six months recovering from a heart attack.
NAIFA's National Convention and Career Conference comes to Orlando in 2009 -- practically in our own backyard! For more information on representing NAIFA-Jacksonville, contact Vicki Dickert, LUTCF at For volunteer opportunities, contact Rob Wolford, Local Host Committee Chair, at naifa09orlando@gmail.com or (407) 740-5337 ext. 220. The 2009 Convention and Career Conference, September 12-16 at the Orlando World Center Marriott Resort, will feature General Session speakers, workshops, networking opportunities and special events addressing the needs and interests of all types of NAIFA members. The official 2009 NAIFA Convention and Career Conference website is open for registration starting on March 2. Visit www.naifa.org/convention to register now. Register early and save $80! Of interest to everyone… The daily general sessions feature speakers of interest to all NAIFA members. World-class presenters deliver messages of inspiration, motivation and information to help you be more successful in your practice and your life. The 2009 line up includes: Irish Tenor, physician and disabled athlete Ronan Tynan. His stirring performances have brought him international fame and his personal story of triumph in the face of adversity serves as an inspiration to audiences worldwide. Emmy-award winning reporter, producer, moderator and talk show host Meryl Comer. With more than 30 years of experience in broadcast journalism specializing in business and financial news, Comer has an understanding and appreciation of the power of insurance. As the caregiver for more than a decade of a husband suffering from Alzheimer's, she understands the devastating effect of this disease. Time magazine's Assistant Managing Editor and Chief Political Correspondent Michael Duffy. He has covered the Congress, the Pentagon and the White House, and he will bring us a view from Washington, DC. Young Advisors and those new to the business… Highlighted workshops will be chosen for their relevance to advisors early in their careers. The Four Under Forty session highlights the achievements of NAIFA's Advisor Today's annual Four Under Forty honorees. Plus, a number of special events are held just for young advisors.
Independent Advisors… New in 2008, NAIFA added the Independent Advisors Networking Dinner to go along with the almost 20 private company dinners that take place the Monday night of the Convention. This popular event will return even bigger and better in 2009. Health Insurance Advisors… The AHIA Annual Meeting and Luncheon as well as the AHIA track of health and employee benefit workshop sessions will be featured on the Tuesday of the Convention. Advisors specializing in life and annuity sales, financial planning or multiline… Educational workshop tracks are dedicated to each of the practice specialty areas with available sessions each day of the Convention. National Council Delegates… The Convention is still the time to conduct the business of NAIFA, elect officers and trustees, address by-laws amendments and resolutions. Make sure your local or state association voice is heard at this important governance event. Complete information and registration materials will be available in the March issue of NAIFA's Advisor Today as well as online at www.naifa.org/convention in March. Special discount hotel rates at the beautiful Orlando Marriott World Center Resort will be available for Convention and Career Conference attendees when registration opens. For more information: See the newly launched 2009 Convention and Career Conference website at www.naifa.org/convention.
Have You Tapped Into NAIFA’s Virtual Library?
The NAIFA-branded Virtual Library is the single most comprehensive, user-friendly online resource tool that supports a financial advisor or insurance agent regardless of his/her practice specialty, distribution channel or career level. Features of the new NAIFA Virtual Library include:
In addition, NAIFA Members have the option to purchase the upgraded product, the NAIFA Virtual Assistant, for the discounted price of $17.95, with the first 30 days free. This is a 20 percent discount off the standard cost of $21.95. The NAIFA Virtual Assistant includes all the content available within the NAIFA Virtual Library plus such business and practice management features as a personalized home page, analysis calculators, referred lead generators, slide presentations, customized e-newsletters, PowerPoint presentations and more. For more information: Visit the Professional Development and Education section of the NAIFA website at www.naifa.org/benefits.
THANK YOU TO OUR SPONSORS!
If you would like to advertise or sponsor a link on our webpage, please contact Cherri Coombs-Ohmer, LUTCF at our Association office by calling (904) 695-2300 or e-mail naifa-jacksonville@bellsouth.net. OUR WEB PAGE IS ADVERTISED NATIONALLY!
Our new official e-newsletter, Jax Advisors Online, is an evolving work in progress and your feedback is important to us! Please send your opinions and comments to Cherri Coombs-Ohmer, LUTCF by e-mailing naifa-jacksonville@bellsouth.net or by calling the Association office at (904) 695-2300.
For the latest NAIFA-Jacksonville news and events, please visit our website at www.naifa-jacksonville.org, or contact Association Executive Cherri Coombs-Ohmer, LUTCF:
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• Support of the Reduction of State-Sponsored Catastrophic Insurance and other laws to Reduce Policyholder Assessments and Increase Insurer Rating Flexibility
“The Future of Wealth Management”
Congratulations to NAIFA-Jacksonville's 2008 National Industry Awards Winners!
Day on the Hill Review
After the luncheon, representatives from all Florida locals and the state association split up to visit with as many representatives and senators as possible. The shear volume of bills before both the House and the Senate make it impossible for these legislators to be aware of and understand fully the many bills they must consider. During our visits to these legislators, we spent time reviewing all the various points of these three key areas to help them understand the ramifications of their votes on these issues.
NAIFA-Florida 77th Annual Career Advancement Conference & Expo
Also seeking nominees for the
Sixty-Second DI Sales Idea:
The Importance of the
Programs at the 2009 NAIFA Convention and Career Conference… Brilliant!
Leaders and future leaders… The LILI 7 Workshop on Tuesday is a great opportunity for alumni of NAIFA's Leadership in Life Institute. And the LILI track of leadership workshops are great for any attendee looking to foster your own personal growth, enhance your business practices and develop skills necessary for effective leadership.
As a member of NAIFA, you now have free, unlimited 24/7 access to the NAIFA Virtual Library. Whether you are a new advisor or agent, or an experienced producer, the NAIFA Virtual Library is your key to a myriad of sales support tools and resources that will help you grow and succeed in your business.
YOUR COMMENTS AND FEEDBACK ARE WELCOME AND APPRECIATED!
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