Trust Tip – Enthusiasm Sells!

Posted by on Jul 31, 2015 in Trust Tips |

Someone once said that closing is 70% enthusiasm. How could that be? What about product knowledge, persistence, and all of those closing techniques? Yes, they are important. But without enthusiasm, they have little power. They are like the car and enthusiasm is the gas. Nothing gives gusto to your presentation like sincere enthusiasm. After all, selling, at its heart, is nothing more than a transferal of feeling. Successful sales professionals are able to get their prospect to have the same feeling about their product, the same product conviction, and the same kind of enthusiasm about the product as they themselves do. After all, if you’re not enthusiastic about your product, who will be? Action Steps Nurture your excitement. Show your enthusiasm. Learn everything that you can to boost your own belief and conviction. Think about how your product or service helps to enrich people’s lives. Write it down and look at it daily. Finally… let your excitement show. “Enthusiasm spells the difference between mediocrity and accomplishment.” ― Norman Vincent...

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ACA Update – SSN Carrier Notice & HSA/FSA Resources

Posted by on Jul 24, 2015 in Benefits Update |

  1) As a quick note regarding the Affordable Care Act, if your social security number or that of a covered dependent are not on file with your insurance carrier, you will receive a notice from them (if you haven’t already) asking for those numbers.  These notices are mailed to individual members not the group, so please let your employees know.  These are required as part of the ACA for reporting purposes on the IRS Form 1095-B which carriers will complete for fully insured plans and send to plan members.   2) As many groups offer or are considering offering plans that are compatible with HSAs and FSAs, I thought the below resources might be of use to you and your employees.  The 1st two links send you to online stores for purchasing items using an HSA or FSA but also offer other resources and answer many basic questions.  The 3rd link allows you to search for HSA, FSA, or HRA eligible products and services and is thus probably the most useful on a day-to-day basis.   HSA Store FSA Store Eligible Products Search As always, please let me know if you have any questions regarding the Affordable Care Act. Elizabeth Ingram Account Manager, Employee Benefits Insurance Trust Phone: 800-287-3379 x 312...

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How Maine’s New Ridesharing Law Could Affect Your Credit Union

Posted by on Jul 7, 2015 in News |

Last Tuesday June 30th, the Maine ridesharing legislation, LD 1379, cleared the House by a vote of 138-1. The Senate voted unanimously for the new regulations to become law. The new rules in Maine set insurance and safety requirements for ridesharing services such as Uber and Lyft who host a network of independently contracted drivers that pick up fares through a smartphone application.  Drivers who use these services will now be subject to the same insurance regulations as anyone who uses their vehicle for commercial use (i.e food delivery drivers, couriers etc.) and will need to purchase a commercial auto or “Livery” policy in order to be adequately covered in the event of an accident.   How could this affect your credit union? The concern for Maine credit unions is regarding the influence of ridesharing services on members’ personal auto insurance policies and whether or not the credit union collateral is exposed to physical damage or skip risk. In the event that a member has a credit union financed vehicle that has been physically damaged, and is using their vehicle as an independently contracted taxi through the Uber service or for any other “Livery” (i.e.: the transportation of people, products or services); their personal auto insurance policy would not protect them or the credit union.   There are two ways to provide protection of your collateral for physical damage: CPI (Collateral Protection Insurance, i.e. force-placed insurance) that typically protects for physical damage only, or a blanket policy. LSI (Lenders Single Interest or Vendors Single Interest) protects for physical damage, skip claims, instruments and non-filings (E&O) and a suite of endorsements. Insurance Trust has researched this unique issue and has found a commercial endorsement solution.  With this endorsement, your credit union can protect your collateral in the event that the primary auto insurance company denied coverage for ANY commercial use (including Uber), as long as the vehicle is under the endorsement weight limit. We are happy to provide a side by side comparison of the product features and carriers. If your credit union would like more information regarding this solution, please reach out to Tim Dalton tdalton@insurancetrust.us or complete the contact form below. Contact Form Name* First Last Email* PhoneWhat would you like to learn more...

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Anchors Aweigh with the Fall University of Lending

Posted by on Jul 1, 2015 in News |

Ahoy! Insurance Trust and our sponsors Frost and Transamerica would like to invite you to come aboard with Ed Swanson to attend our Fall University of Lending event to be held September 28-29, 2015 at the Hilton Garden Inn in Freeport, ME. If your earnings have been crying out a “Mayday call”, this school is a must.  The time is now to throw your old lending philosophies and restrictive policies overboard and start serving all members. This school teaches staff that there is “always a solution”.  Attendees will learn how to get the facts, ultimately helping to approve loans that other financial institutions are denying. The 2-Day Curriculum will Include How to: Successfully cross-sell insurance products to members Embrace the credit union philosophy of “people helping people” Interview the toughest members and situations Save member’s money by paying off the competition and using the member’s score as a sales tool Understand the trend of the credit score and what the pecking order of codes mean in decision making Ed will focus on real-life experiences that your lending and collections staff encounter daily with your members.  Come join us and let Ed’s expertise and passion help you to increase net yield on your loan portfolio, increase fee income and meet the needs of your members in challenging economic times. For registration information, please complete the contact form below! Contact Form Name* First Last Email* PhoneWhat would you like to learn more...

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