THE ONLINE NEWSLETTER OF NAIFA - JACKSONVILLE:  SUMMER 2010

NAIFA-Jacksonville Annual Meeting Highlights: June 23, 2010
The Changing of the Guard

CLICK HERE FOR PHOTO HIGHLIGHTS!

CONGRATULATIONS CHERRI COOMBS-OHMER, LUTCF!
STANLEY L. STONE ASSOCIATION EXECUTIVE OF THE YEAR!.
( CLICK TO ENLARGE PHOTOS ).

At NAIFA-Florida's 78th Annual Career Advancement Conference and Expo on July 20th, NAIFA-Jacksonville's very own Association Executive, Cherri Coombs-Ohmer, LUTCF was again presented the coveted Stanley L. Stone Association Executive of the Year Award!

Cherri believes in our Association. She has passionately committed herself to the cause and never allows her loyalty to waver, regardless of any personal challenges that have tried to get in her way -- the unexpected death of her husband in May of 2002, several critical illnesses with both of her parents, her siblings, her brother's limb amputation, and all while raising their beautiful daughter, Caraline.  Cherri has since been blessed when she married Pat Ohmer in December of 2008.

Thank you, Cherri, for being the ultimate professional. Thank you for your incredible dedication, your passion, your hard work and for being "the glue" of our local Association.  Thank you for the countless hours that you work for us, the many trips away from your family to keep our members educated and informed. What you have done over the last 20 years, and continue to do for NAIFA-Jacksonville and NAIFA-Florida, we will never be able to repay you.

We are so blessed to have you in our lives, thank you, from the bottom of everyone's hearts. We are not where we are and who we are without you.

Cherri was first named named the recipient of this prestigious award by NAIFA-Florida at the 2007 State Conference in Miami. Cherri was also NAIFA-Jacksonville's 2008 C.G. Snead / J.F. Bryan, III Memorial Award recipient, 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. Cherri is also the Chapter Executive for the Society of Financial Service Professionals, Northeast Florida Chapter.

CLASS SCHEDULE THROUGH 2010:

Approved by the Department of Financial Services / Course ID 38274.
Check our website at www.naifa-jacksonville.org for more information.

The late American business guru Peter F. Drucker once said, "Every few hundred years in Western history there occurs a sharp transformation. Within a few short decades, society rearranges itself ... Fifty years later, there is a new world. We are currently living through just such a transformation."

So if we are now living through that kind of transformation, what exactly does it take to be a successful insurance agent or financial service professional today?

Beginning in August of 2010 NAIFA-Florida has partnered with award winning business leader and change expert, Ian Hill, to offer a new member benefit, a professional development series designed for sustained performance improvement "Crisis is Opportunity - Success in Times of Change".

This unique 15-week, first-of-its-kind, sales training program is designed to do one thing, improve your performance. The series is filled with powerful tangible sales tools and relevant actionable insight that will assist you in becoming more self motivated and self directed. It will enhance your performance system to maximize your daily activities. It will teach how to cultivate new and existing clients through social media, networking and relational marketing as well as lay a foundation for sustaining the highest performance levels while finding balance to enjoy the benefits of your success.

What truly sets the program apart is its unique process to support lasting growth, The Change Continuum, which is built on the "twenty-one days to instill a habit principle" and utilizes a blended learning approach that takes into account and accommodates all learning styles. What also makes it unique is its use of both face to face instruction and the latest in live video streaming technology that allows anyone with a computer and internet connection to participate in live interactive sessions. Finally, its web-based portal archives all video, training material and coaching sessions for on demand use, so you can learn as your schedule allows.

Click here to watch a short video to get a quick snap shot of the program
http://www.viddler.com/explore/LTHC/videos/23/

Click here for more details or to register:
http://ltbk.ca/lthc/index.php/naifa-fl

The program kicks off with face to face sessions across the State the week of August 3rd and space is limited to 300 participants, so join now and be a part of this performance-improving experience! If you have any questions, please contact NAIFA-Florida Director of Professional Development, Paul Brawner at (850) 422-1701, x. 205.

All my best,

Sharon Heierman, NAIFA-Florida CEO

Thank You to NAIFA-Jacksonville's IFAPAC Contributors!
( JANUARY 1, 2010 - JUNE 30, 2010 )

CONTRIBUTION LEVELS:

What is IFAPAC?

The Insurance and Financial Advisors Political Action Committee (IFAPAC) is a term used to describe collectively the PAC sponsored by NAIFA at the federal level and the PACs sponsored by each state association. Each PAC is a fund that supports the campaigns of candidates for public office who understand issues important to insurance agents and financial advisors. IFAPAC’s goal is to help the associations advance the legislative and regulatory interests of the members of NAIFA. While any U.S. citizen can contribute to IFAPAC, only members of local NAIFA associations may be solicited to do so. Contributions must be voluntary. Contributions are not tax deductible for federal income tax purposes. Of approximately 3,700 political action committees registered with the Federal Election Commission, IFAPAC ranks in the top 1 percent. IFAPAC is the largest insurance PAC in the country. In the last election cycle, the national IFAPAC and the 50 state IFAPACs contributed approximately $2.5 million to federal and state candidates and committees.

The IFAPAC network is needed even in years when there aren't federal elections. The candidate evaluation and support processes go on all the time. PACs that have the resources to make contributions when candidates need them most are highly visible in the political arena. IFAPAC occasionally makes debt-retirement contributions following elections and some states hold elections in odd-numbered years.

On the national level, a panel of ten NAIFA members, appointed by the Executive Committee of NAIFA, determines which candidates for federal office will receive PAC contributions. This group is called the Candidate Selection Group. On the state level, contributions to candidates are made via a similar volunteer committee process. Input from state and local association officers and current contributors is vital to the ability of state and national selection committees to make informed decisions regarding which candidates to support. IFAPAC encourages contributors to provide factual information on candidates.

For more information about IFAPAC and to make contributions securely online, please click HERE. To download a printable IFAPAC contribution form in PDF format, please click HERE.

You may have never run for public office. You might not know much about politics. But with NAIFA's Advisors Political Involvement Committee (APIC), you can still make a difference. Influence how Congress votes on legislation important to insurance and financial services professionals. You can get involved in a number of ways. The level of involvement is up to you!

* Respond to NAIFA Action Alerts on legislation affecting your business.
* Sign up as a legislative contact for NAIFA
* (if you personally know a member of Congress).
* - See the current Legislative Contact List.
* - Sign up online
* - Download the printable sign up form
* Serve as a Federal Senate or House Coordinator and hold regular meetings in the district with your legislator.

Click HERE to learn more about APIC.

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. Click HERE to visit the members-only NAIFA Virtual Library.

• 8 Quick Tips to Help You Make the Most of Life Insurance Awareness Month
• "Double Your Sales in 90 Days" Webinar on August 3rd!
• (NAIFA members only)
• NAIFA Pres. Tom Currey Featured in NPR "Marketplace" Story
• Perfect Storms Rage On: Federal and State Legislative and Regulatory Issues Update
• (NAIFA members only)
• NAIFA Names Adam Sachs Young Advisor Team Leader of the Year
• July Member Benefit of the Month: Macy's
• NAIFA Applauds House, Senate Conferees on Approach to Standard of Care Issue

NAIFA-FLORIDA:
Visit www.naifaflorida.org for the latest news and updates.

NEW! NAIFA MEMBER BENEFITS GUIDE!
Click HERE for a comprehensive guide to all of the benefits enjoyed by NAIFA members!

Pundits talk about the economic rebound, but the American public is still cautious—and rightfully so. Uncertainty still bubbles in the job market, the housing market—the economy in general. As a preventative measure, people are spending less and saving more. And that’s good news. More Americans are looking out for the financial stability of their families.

Saving more is a good start, but it’s not enough. What if you were suddenly gone and your family had to manage on their own? If you have adequate life insurance coverage, your family would be OK financially. But if you’re one of the tens of millions of Americans who has little or no life insurance, how long would it be before life would become a struggle for your family? It’s hard enough dealing with the emotional pain of losing a loved one. You don’t want your family’s emotional struggles to be compounded by concerns about money.

To make sure Americans are reminded of the need to include life insurance in their financial plans, the nonprofit LIFE Foundation coordinates Life Insurance Awareness Month. Each September, LIFE is joined in this educational initiative by more than 100 of the nation’s leading insurance companies and industry groups. LIFE’s website is the leading source of objective information about life insurance. Spend a few minutes learning more and trying our interactive tools like the Life Insurance Needs Calculator. If you find that you have a need for coverage, we strongly urge you to act by contacting an insurance professional who can help you safeguard your family’s financial future.

For complete details, please visit www.lifehappens.org/LIAM.

The NAIFA Career Conference and Annual Meeting is the premier national gathering of producers in the insurance and financial services industry. We all face challenges in our lives, in our practice and in our industry. NAIFA is the organization and conference that protects the legislative and regulatory environment that keeps you in business to serve your clients and provides you professional development and networking to help you thrive in your business.

Join NAIFA in Seattle September 11-14 for:

*  Inspirational and educational speakers including Dr. Stephen R. Covey;
*  Dozens of valuable workshops some with CE credit available;
*  Important legislative updates and political advocacy training;
*  Great networking opportunities;
*  Fun special events;
*  And more!

For complete details and online registration, please visit www.naifa.org/conference.

STOLI vs. STOLI
By Robin S. Weinberger, CLU, ChFC, CLTC and Peter N. Katz, JD, CLU, ChFC

All too frequently, we hear and see insurance industry speakers, the media, and even regulators incorrectly referring to STOLI as Stranger OWNED Life Insurance. STOLI is a legal term that has been defined by statute in many states.  It means, specifically, Stranger ORIGINATED Life Insurance. The difference is quite significant as one activity is legal while the other is not.

Stranger ORIGINATED Life Insurance is a scheme to induce an insured to purchase a new life insurance policy for the purpose of getting that policy into the hands of investors/strangers who do not have an insurable interest in the insured.  These activities are illegal and insureds, producers, brokers and other players involved in these transactions may be subject to both criminal and civil penalties. An insurance policy that is issued without insurable interest is a wagering contract that is illegal and against public policy.

On the other hand, Stranger OWNED Life Insurance, is a perfectly legal practice and has been so for decades.  In addition to the many state court decisions supporting a consumer's right to sell their policy, this was confirmed by the United States Supreme Court way back in 1911 (Grigsby v. Russell, 222 U.S. 149).

Stranger OWNED Life Insurance is more commonly known, today, as a life settlement. A policy owner who purchased a policy for a legitimate insurance need some years before and now no longer wants, needs, or can afford that policy may sell it to investors/strangers for an amount exceeding the cash surrender value.  This practice is so legal, in fact, that four states, Maine, Washington, Oregon, and Kentucky, have recently enacted laws requiring insurance companies to notify older insureds, who are surrendering a policy, that alternatives like life settlements exist.  Other states are also considering similar legislation.

Stranger ORIGINATED Life Insurance is an abuse of both life insurance and life settlements. When the term STOLI is wrongly defined, as it all too often is, the difference between the legal and illegal activity becomes blurred and consumers and producers are led to mistakenly believe they are one and the same.  Sadly, this can be a costly disservice to consumers who, as a result, may not investigate the option of a life settlement for their policy that is about to be lapsed or surrendered.

Jax Advisors Online is a monthly publication of the Jacksonville, FL chapter of the National Association of Insurance and Financial Advisors. Opinions expressed are those of the authors and advertisers and do not necessarily represent those of NAIFA Jacksonville.

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Please keep us up to date with your contact information!
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http://secure.naifa.org/imisw/source/security/member-logon.cfm?section=Home

JAX ADVISORS ONLINE MEMBERSHIP NEWSLETTER ARCHIVE:

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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:

NAIFA-Jacksonville
P.O. Box 37028, Jacksonville, FL 32236
Phone (904) 695-2300 • Fax (904) 783-6857
Email info@naifa-jacksonville.org