Here at LifeHealthPro.com, we have curated a few of the most interesting highlights for the week. It’s our new take on rounding up the news.
This week, we bring you some educational tools to refine your craft from Husson University and NAHU, respectively. If you’re looking to wow your clients with new or updated insurance products, Penn Mutual has updated their guaranteed protection universal life product (page 2).
And since hiring and promoting key figures within an organization is essential for that organization or business to succeed, on page 3 you will find a few paragraphs about new designations and position advancements from Allianz, LGA, NFP and RIIA.
Finally, as we move toward Long-Term Care Awareness Month in November, the American Association for Long Term Care Insurance is launching a consumer awareness campaign (page 4).
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1. Go further in your education with these programs
Retired Fidelity senior VP helps create Center for Financial Technology at Husson University
Husson University held a ribbon cutting ceremony, marking the official opening of the Ronan Center for Financial Technology on its Bangor, Maine campus outside the Darling Learning Center last month. Bob Ronan, retired senior vice president of technology at Fidelity Investments (photo below, left) shows off some of the technological capabilities of the new Ronan Center for Financial Technology at Husson University in Bangor, Maine during the dedication of the new facility on August 29, 2014.
This fully equipped facility features two LED stock ticker displays that show current market activity in real time. The new center also includes two large interactive touchscreens that provide students with the ability to research stock, mutual fund and bond investment performance. With just the touch of a finger, students will now be able to access historical data for U.S. and international companies.
The new center was made possible through the generosity of Bob and Linda Ronan. Bob graduated from Husson University with a Bachelor of Science in Accounting in 1979. Raised in Orono, Maine, he is a retired senior vice president of technology with Fidelity Investments. His family has a long history of educational accomplishments at Husson University, including a father who taught accounting at Husson from 1966 – 1973.
NAHU announces new program to educate health insurance brokers on value-based purchasing
The National Association of Health Underwriters Education Foundation announced a new initiative to stimulate demand for value-based health care purchasing among the nation’s health insurance brokers and their employer clients.
Funded by the Robert Wood Johnson Foundation (RWJF), this new initiative will promote greater involvement by health insurance agents and brokers in the health care transformation movement by arming them with the knowledge they need to encourage value-based purchasing strategies.
The NAHU Educational Foundation will be assisted in this effort by Catalyst for Payment Reform (CPR), an independent nonprofit that works with health care purchasers to promote higher-value care, and by Qorvis MSLGROUP, a communications firm experienced in health care payment issues. Together, these organizations will leverage NAHU’s strong track record of providing professional development to agents, brokers and consultants.
The initiative, which RWJF is funding at $678,280, will cover topics such as value-based insurance design, new delivery models such as accountable-care organizations and patient-centered medical homes, new payment mechanisms such as reference pricing, bundled payments and global payments, writing contracts for value-based contracting, and conducting market assessments.
2. Enhanced and updated insurance products
Penn Mutual updates its GPUL product
In an effort to enhance the competitiveness of a popular permanent life product with attractive features and broad client appeal, The Penn Mutual Life Insurance Company, has revised the pricing for its Guaranteed Protection Universal Life (GPUL) product.
Penn Mutual has reduced no-lapse guarantee premiums for the popular lifetime level and 10 pay options, 3 – 5 percent, on average. The premium reduction, combined with and the existing Chronic Illness Accelerated Benefit Rider, which is included on most policies at no additional charge at issue, enhances the competitive features offered to help clients’ needs. The new product went into effect nationwide for new business on September 22, 2014.