NAIFA-Jacksonville Jax Advisors Online Membership Newsletter


OFFICIAL FAMILY:  Click HERE for NAIFA-Jacksonville's Officers and Board of Directors


Christopher Veenstra

President's Message
Christopher E. Veenstra


We've all heard that old adage, and it holds so true when it comes to our clients, doesn't it?  It's a reminder we should all do everything we can, to not only stay informed and motivated in our careers, but also to stay in touch with our clients.

We have so much opportunity to keep this thought as constant reminder with our NAIFA sponsored programs, such as LILI and YAT. Are all of us utilizing these resources to enhance our production and our education? Have you considered LILI, or do you have young agents in your agency that could benefit from the YAT programs?

Recently we've brought to the attention of our members, an opportunity to bring NAIFA to our community thru television distribution with FOX News. We still need to know if more of our members are willing to participate. Please contact me and I'll provide more information so we can decide to move ahead with this effort.

Our IFAPAC Legislative Reception is to be held on Tuesday, October 26th. Tim Meenan, NAIFA-Florida Lobbyist, will be meeting with our members from 5:00 to 6:00 PM at the University Club. Many of our local representatives will be in attendance from 6:00 to 7:30 PM. The cost of this event is $25 and, for the very first time in our history, this is open to all NAIFA members and anyone else who might be interested in hearing what some of our constituents have to say.

I'd like to encourage you all to make every effort to attend our breakfast meetings. We have the entire year planned out and that information is available on our website. Please refer to it often for changes and updates.

Lastly, as always, "each one, reach one." There is strength in numbers, we need to continue to nurture and grow our membership. We need to protect our industry as we help protect our people and the Families of our Country. Stay "in sight" of our clients and our legislators, so we'll stay "in their minds."



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RSVP today for our
 Legislative Events this month!


Timothy J. Meenan, NAIFA-Florida Lobbyist

Timothy J. Meenan
NAIFA-Florida Lobbyist

Special Evening
Legislative Reception:

October 26, 2010

Enjoy an evening with
local Legislators and
Representatives to
discuss issues that
affect our industry!

Membership Breakfast:

October 27, 2010

2010 Regulatory Update for Florida Insurance Agents

"2010 Regulatory Update
for Florida Insurance




NAIFA-Jacksonville 9th Annual Golf Tournament

Monday, November 8, 2010  |  The Golf Club At South Hampton


Michael Schlueter

NAIFA Annual Conference Review
By Michael Schlueter, NAIFA-Jacksonville Secretary/Treasurer

I wish to express my gratitude to our local NAIFA Chapter for allowing me to attend the NAIFA National Convention in Seattle on behalf of our President, Chris Veenstra, who was unable to attend. This was my first time attending a national convention for NAIFA and I must say that this is a MUST for anybody actively involved with NAIFA. If you are ever given the opportunity to attend, your time and money will be well worth it and come back to you many times over. Some of the key highlights that I wish to comment on are as follows:

NAIFA Member Benefits - there are numerous benefits available to NAIFA members through the website to include: Professional Development Programs, Professional Practice Tools and Tips, Preferred Providers, Networks, Speakers Center and many more. Until you actually sit down and spend some time, you will never fully appreciate the scope of what is offered and available to our members. Also available are reduced rate CE courses, reduced rates on your E&O insurance and much much more.

NAIFA Membership - our industry is under attack and many of the benefits afforded to us as professionals in the insurance industry may soon be gone if we do not have a strong voice in Washington. Numbers speak volumes when our representatives are standing before members of congress and house subcommittees. We desperately need to grow our membership so that our voices can be heard. An interesting statistic occurred this year...for the first time in 15 years, NAIFA National saw an increase in the number of "new members" joining NAIFA. Much of this was attributed to the increased involvement of some of our larger nationally recognized companies. I encourage all companies and all of you to share your experiences of NAIFA with non-members and encourage them to become members.

Advocacy - We have a responsibility to our industry and to our profession to get involved with our local chapter...I mean really involved. I don't mean just being a member and showing up for an occasional luncheon or breakfast or an occasional attendance at our annual golf tournament. I mean spread the word, talk up our local chapter, bring a guest to breakfast, teach people about the benefits of being a member, get involved with chairing a committee and making a difference. We have too much at stake and stand to lose much of what we have worked so hard for if we do not continue to grow our organization.

Finally, I was amazed at the amount of time and effort and involvement that our NAIFA National board members have with representatives from state and local officials as well as federal officials. It gives me great comfort knowing that I have a voice in the professionals within this industry that get nominated to represent our industry and fight for the very benefits that we bring to our clients every day.

Again, I thank you for allowing me the opportunity to represent our local chapter at this wonderful event!

Warm regards,

Michael Schlueter


NAIFA-Jacksonville 40-Hour Prelicensing Course
Available Live and Online! Click HERE for complete details!.

NAIFA-Jacksonville 40-Hour Prelicensing Course


October 15-18  •  November 12-15  •  December 10-13

Approved by the Department of Financial Services / Course ID 38274.
Check our website at for more information.


NAIFA-Jacksonville Blood Drive Update
By Alicia Burst, Chairperson

Congratulations to Kathy Birdwell, Regional Administrative Supervisor for APPS Paramedical Services, who was the recipient of the August blood drive's $100 cash prize!

Her name was pulled out of an envelope with all other NAIFA associated donors at our Membership Breakfast Meeting on September 29th.  Last drive's $100 recipient was Becky Brothers from Principal Financial Group.

Our next drive is scheduled for Thursday, November 4th at Liberty Center.  Again, I will extend a $100 cash prize to one lucky NAIFA donor.  Donations made on that day will be designated to a child, most in need for that day, at Wolfson Children's Hospital on behalf of NAIFA.

Kathy Birdwell

These blood drives were started on behalf of NAIFA so long ago, I cannot even remember. But their records, since 2001, indicate that NAIFA has donated 289 units so far.

You can schedule your appointment online by going to:



NAIFA-Jacksonville 2010-2011 Membership Contest
Submitted by Gene Bryant, NAIFA-Jacksonville President Elect

If I Was to Guess:

If I was to guess, I’d guess your favorite color is green. I’d guess two favorite numbers are 5 and 0. I’d also guess your favorite President is Grant. How did I do? I’m neither a psychic, nor a psycho. I learned these things from our Membership Committee: Margie Harner, Cindi Cook, Cheryl Canzanella, and Jon Castle.

Here’s the rest of what I learned: If it’s green with a 5 and a 0 and it has Grant’s picture, it is a Fifty-Dollar bill! That $50 will be yours if…

• you are a “Sponsor” of a new member of NAIFA-JAX;
• your name is drawn at our monthly meeting;
• you are present to win; and
• you are not currently a Board member.

NAIFA-Jacksonville 2010-2011 Membership Contest

Then, I’d guess that you are either picking up your phone, jotting a note, or chatting with our next member of NAIFA-JAX. That’s exactly what our Membership Committee said you will be doing.

Are we right? Come to our next meeting so you can claim your $50!


Jon Castle, CFP, ChFC

Meet Little Johnny – Your New Business Partner
By Jon Castle, CFP®, ChFC®

Steve and John had been friends for a long time. They were the best of friends since the fourth grade when Steve had helped John face down the school bully. They had played high school basketball together, gone to college together, and had even proposed to their future wives on the same night. Soon after, they went into the heating and air conditioning business together – an “even Steven” partnership, they called it. Steve, as president and COO, ran the crews and supervised the contractors while John, as CEO, pounded the pavement for business and coordinated the jobs.

Over the years their business grew. Before long they had 12 crews dispatched every day. John’s business acumen and sales skills had the company’s services in high demand, and Steve’s people skills and work ethic kept customers loyal and crews productive. After 22 years, the business was worth 4 million dollars and generated revenues of over a million dollars a year. Then Steve and his wife were killed in a car accident by a drunk driver.

John was crushed – in addition to losing his best friend, he had also lost a huge part of his business and livelihood – the man who made things happen where the rubber met the road. Sure, there were good men on the crews, and with some training, one of them might be able to step up and shoulder some of the burden of being the big boss, but it would take months – even years – to train a replacement.

John sat in his office, head buried in his hands. There was a knock at his door, and in stepped what was to become his worst nightmare: Steve’s son Johnny. Johnny, John’s own namesake, was a 20 year-old high-school dropout with a known drug problem and expensive tastes. With a sinking sensation that bordered on nausea, John realized he was looking at his new business partner. As 50% owner of their joint business, Steve’s entire stake in their business now belonged to his only son – Johnny.

In the months that followed, Johnny did little to help the business other than demanding 50% of all revenues generated. With little understanding of economics, he inserted himself into every business decision, from hiring to firing to bidding for contracts. Soon, loyal crews began departing to the competition. No-show rates of employees skyrocketed. The work that actually did get completed was rarely finished on time and rarely passed inspection. Before long, the company was barely surviving – hanging on by a thread as it fought tooth and nail for each piece of business it landed.

Why did this happen? Was it fate? Hardly. Steve and John had simply made the same mistake that many business owners do – failing to realize their own vulnerability. With simple planning, the destruction of the business could have been avoided. Granted, nothing short of clairvoyance could have avoided Steve’s death in a car accident – but some simple business succession planning would have gone a long way to keeping the business strong and viable during the months following Steve’s death.

All closely held businesses should consider business succession planning. While there are many solutions to a problem such as this, Steve and John would have been well served to create a buy-sell agreement. This agreement, which is a legally enforceable contract, would have given John the ability to buy out Steve’s stake in the business for a predetermined amount should Steve die or become incapacitated, leaving Johnny with no power to influence any business decisions whatsoever.

There are two basic types of buy-sell agreements: a cross-purchase agreement, and an entity purchase agreement. In a cross-purchase agreement, each business partner owns a life insurance policy on the life of the other partner – providing immediate cash with which to buy out the partner’s heirs, such as Johnny. In an entity purchase agreement, the business itself owns the life insurance policies on each partner. Typically, if there are three or more partners, an entity purchase agreement is the most inexpensive option for all involved.

An additional benefit of this type of business succession planning is that the agreement can be structured in such a way as to allow the owners – through the business – to stuff the policies full of tax-deferred cash values. In the event that none of the partners die - which is usually the case - they can use the cash-fat policies as retirement bonuses or to provide supplemental income and tax-free death benefits to their families once they ultimately enter retirement.

Given Steve’s role in the business, it would also have made sense for the business to own a “key man” insurance policy on Steve’s life. In this case, had this protection been available, John would have had enough money to immediately search for, and probably recruit, an experienced foremen already performing Steve’s critical duties in another company. While the insurance would not have mitigated John’s pain of losing his best friend, it would have helped him replace Steve’s business skills in a relatively short period of time. While the premiums for the insurance policy would not have been tax deductible to the business, the death benefit would have been received tax free by the company.

As business owners, our businesses are often a large part of who we are. The sacrifices every business owner makes to create and nurture a successful business are great – too great to have the results of those sacrifices disappear in a moment by failure to plan. Please consult with your financial planning professional on the steps necessary to protect and preserve what may well be your biggest legacy – your business.


NAIFA e-newsletter

Advisor Today's monthly e-newsletter features web-exclusive articles, podcasts, spotlight and more!


The latest news headlines from the
National Association of Insurance and Financial Advisors


  NAIFA GovWatch: Congress Enacts Small Business Bill into Law
  NAIFA National Council Elects Officers, Trustees to Board
  Watch the Previously Recorded "RealLIFEstories" Presentation
  NAIFA 2010 Annual Report is Now Available
  ACT NOW: NAIC Requests Data from NAIFA Members -- Your Timely Assistance Is Needed
  New Member Benefit: NAIFA’s ClientCast™ by Real Wealth®

Visit for the latest news and updates.

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


Thank You to NAIFA-Jacksonville's IFAPAC Contributors!
( JANUARY 1, 2010 - SEPTEMBER 27, 2010 ).


Dennis Axman, CLU, ChFC, AEP, CFP
Alicia S. Burst
Cherri Coombs-Ohmer, LUTCF
Wayne Cooksey
Craig A. Dewhurst
Margie Harner
Garland S. Hudson, CLU
Maureen A. Kirschhofer, CLU, ChFC
Joseph J. Maltese, CFP, ChFC, CLU, LUTCF
Emmett W. Mankin, LUTCF, CFP
Robert D. Markwalter, II
Clay McRae
Kyle P. Mooney
Van Mullinax
Michael P. Saunders, CLU
Kathleen A. Scott
Robert Warren Tison, LUTCF
Timothy L. Von Ebers, CLU, ChFC
Gary L. Webster, LUTCF
Robert A. Zeiner




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.

Have you made your 2010 PAC contribution?

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.


Robin S. Weinberger, CLU, ChFC, CLTC

YES... Policies Are Still Being Sold!
Submitted by Robin S. Weinberger, CLU, ChFC, CLTC and Peter N. Katz, JD, CLU, ChFC

There seems to be a perception out there that investors are no longer interested in life settlements. Although the settlement marketplace has certainly changed, nothing could be further from the truth. What has happened, however, is that the criteria for policies to be attractive to investors have narrowed. But for those policies that meet the criteria, opportunity abounds!

Criteria 1: Insured's Life Expectancy Less than 144 months, Preferably Less than 120. Today investors are looking for shorter durations for their life settlement portfolios. Most attractive to investors are life expectancies of 10 years or less. With the new longer life expectancy mortality tables, this generally translates to insureds over age 75 with some decline in health since the policy was issued.

Criteria 2: Reasonably Priced Policy. Investors are price conscious about the policies they buy and about how much they will have to spend each year to keep the policy in force. A bad, expensive policy for the policy owner is also usually an unattractive purchase for investors. So expensive policies, policies with substandard ratings, or poorly performing policies are less marketable.

Criteria 3: The Right Kind of Policy. Individual universal life or term policies, which are convertible to universal life, with face amounts of $500,000 or more, from highly-rated companies are the most desirable.

Policies which meet these criteria continue to receive substantial offers in the secondary market for life insurance!

So what is a prospect in this environment? Well, it's back to basics. A life settlement is an alternative to lapse or surrender, not to keeping a policy. That's what life settlements were originally intended to be before the marketplace went astray and became hypnotized by speculation.

Look for a change in business situation: retirement, sale, or dissolution. Businesses and their owners and key executives invariably have a number of life insurance policies. Some link directly to the business itself like key man or buy sell; others relate to the business' impact on their estate liquidity need.

Look for a change in estate situation. Today's economic and estate tax environment means changing estate planning needs that often result in a changed insurance need. This could stem from a decline in estate value or a decline in estate tax liability. It could also result from the sale of an illiquid asset like real estate.

Look for a change personal situation. Sometimes the intended beneficiary predeceases the insured. Sometimes a change in the financial situation of the policy owner makes the policy unaffordable. Sometimes current income needs require a boost that can be provided by the proceeds of a life settlement.

The investment markets are hungry for policies that meet the current criteria. If you're not sure if you have a situation that could work, give us a call and we'll be glad to help. Life settlements continue to provide significant additional value for policies that are no longer wanted, needed or affordable. Don't overlook this opportunity for your clients.

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.


NAIFA Virtual Library

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.


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To update your membership information with NAIFA, please visit the following link:


SEPT 2010,  SUMMER 2010, JUNE 2010, MAY 2010, APRIL 2010, MARCH 2010, FEB 2010, JAN 2010, DEC 2009, NOV 2009, OCT 2009, SEPT 2009, SUMMER 2009, JUNE 2009, MAY 2009, APRIL 2009, MARCH 2009

For the latest NAIFA-Jacksonville news and events, please visit our website at
, or contact Association Executive Cherri Coombs-Ohmer, LUTCF:

NAIFA-JacksonvilleNAIFA-Jacksonville, P.O. Box 37028, Jacksonville, FL 32236
Phone (904) 695-2300 • Fax (904) 783-6857