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Deposit Term Life Insurance
The premium or deposit is paid in the first policy year as well as the premiums required for the regular Term policy. The deposit accumulates with interest for a certain number of years (usually 10), after which the policy owner can receive the deposit in addition to the interest, or may renew the policy without having to provide evidence of insurability. Can be repeated up to every 10 years, and a deposit Term policy can be converted to Ordinary Life or Decreasing Term Life, once again without proof of insurability on the insured's part. Take note, though, if the policyowner cancels the policy before the initial 10 years, he or she forfeits the deposit and any interest accumulated. Should the insured die prior to converting the policy, the deposit and the interest is added to the death benefit.
Insurance Industry News from ProgramBusiness.com
Next Generation StaffingOne of the most significant changes agencies will be facing in the next 10 to 20 years a new definition of “workplace”. More and more industries are exploring the idea of staff working from home, and the insurance industry is no different.
It is not unusual for an agency to hire a CSR that lives in the next state due to a lack of available skilled people in their immediate community.
Salaries and compensation, advances in technology and the over expansion of the work “workplace” are forcing agency owners to learn more about the idea of “tele-commuting”.
In this article, we will discuss some specific needs and decisions that are involved in successfully expanding the boundaries of agency, and also provide tips to ensure that the familiar home environment doesn't prevent your staff from staying focused on achieving agency goals.
Setting the boundaries:
One of the first questions I am asked is, ”How do you monitor performance for staff that works from home?” The answer is very simple.
First, only staff tele-commutes whose personality is suited to working from home. Establishing a remote office must be a business decision, not a perk or benefit to your staff. Just like you look for a specific personality and skill set for CSRs and Producers, you will also want to make sure the tele-commuter is suited for working from home. If you have the right person, their personality becomes part of the monitoring process.
The second way you monitor performance is be having a clearly defined procedure and workflow manual. Your agency systems monitors performance; not you as a manager. If you do not have a comprehensive Procedure/Workflow manual, let me know. Our SOLUTIONS program provides everything you need for creating a practical and relevant resource.
Physical and Technical Requirements
Visit their home: Make a point to visit the home of your prospective tele-commuter. If their home is not in order, the work habits will probably follow the same pattern. Do they have a dedicated office area? Do they have pets? Make sure their work environment supports the work they do for the agency.
I've heard more than one frustrated telecommuter state that they have a hard time focusing when they work at home. When I ask where their desktop computer or mobile PC is located, they usually say it's on the dining room table. By setting up your workspace in a busy location, you almost guarantee distractions. Instead, set up a safe, healthy, and efficient workspace with easy access to your computer, a phone, reference materials, and supplies.
Internet access: Most teleworkers have access to the Internet at home so that they can connect to their corporate network. As a home user, you can choose from four Internet access options:
DSL: DSL stands for digital subscriber line. It uses ordinary telephone lines and a special modem to provide an Internet connection that can transmit high-bandwidth information to a user's computer. A DSL line can carry both data and voice signals. The data part of the line is a dedicated connection to the Internet and does not interfere with use of the telephone. DSL is high speed and is always connected to the Internet.
Cable Internet: Cable Internet uses your local cable TV line to receive broadband Internet content. This data rate far exceeds that of modems and is about the same as DSL. Your local TV cable company is typically the cable Internet service provider.
Dial-up access: This may be the best option if you are on a tight budget. Dial-up access uses a modem and a telephone line to connect to the Internet. The drawbacks of using this option are that data is typically transmitted at a slow rate and it blocks the telephone line.
Satellite Internet: If cable or DSL aren't available in your area, or if the slow dial-up access speeds are not acceptable, consider using satellite internet. It's availabl
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