SPECIAL FEATURE
Double-Duty Protection Available Through Crump
 As much as 62% of personal bankruptcy is attributable to medical expenses, even though 78% of those who file for bankruptcy hold some form of health insurance, according to a recent Investopedia article that highlights the top five reasons people file for bankruptcy.
It's frightening to think that health insurance isn't enough to prevent the possibility of incurring colossal medical expenses-especially considering that medical expenses are often the result of unplanned injuries, serious illness or disease.
Insurance professionals are armed with a plethora of products they can recommend to help mitigate the unexpected-after all, that's what insurance is all about! Coverages include disability insurance, long-term care insurance, whole life and critical care coverage, to name a few.
But what about those looking for a simpler route? For those who aren't ready to commit to options like LTCi or whole-life insurance, you can offer a double-duty term life product with living benefits, available through Big "I" partner Crump.
This product provides a death benefit combined with the ability to accelerate a portion of the death benefit if the client is diagnosed with a qualifying critical illness.
Learn more about double-duty life, or visit Crump online to find out how to gain access.
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Breathe Easily with Coalition
By Paul Buse, President of Big I Advantage®
 Dan Fulwider was the Government Affairs Coordinator and Membership Liaison for the Independent Insurance Agents of Iowa. His dedication to his community and the causes he believed in inspired all who knew him. In the spirit of and to honor Dan Fulwider, each year Trusted Choice® recognizes one of its member agents for going above and beyond in volunteering time and enthusiasm to causes close to their heart with the Dan Fulwider Award for community involvement. This year's winner, Frank Jones of Mints Insurance, Millville, NJ, has been on the front lines of advocating for addiction recovery reform. His acceptance remarks at the 2019 Big "I" Legislative Conference resonated with many in the room.
"Many of you have heard the quote, 'Insurance is the oxygen of our economy.' As true as that statement is, Trusted Choice independent insurance agencies are the oxygen of our communities," Jones said. (Watch Mr. Jones receive the award here.)
When I heard Frank give that quote, I was immediately taken back to the months after September 11, 2001. Double decade veterans of our industry will remember just how vital insurance was to our economy then. Soon after, congressional action and the Terrorism Risk Insurance Act or TRIA emerged to give our economy the oxygen (aka commercial property insurance) it needed.
Congratulations, Frank, and great quote.
Today, the economy's oxygen I worry about the most is technology and the Internet. Rare is the business that--if you take away their computers and the Internet--that they are not "closed until further notice." That's where insurance comes back into focus only this time it's not just paying for losses but preventing those losses.
Coalition cyber insurance, our newest product on Big "I" Markets, is that prevention. Any of their insureds will tell you that the underwriting analysis done by Coalition is very valuable. Many insureds will even tell you the analysis is worth the premium for the losses it helps to avoid.
Have you ever lost your wallet? You know the feeling, it's like a gut-punch. Ugh! Your mind races, "How do I replace this? What was in there? How much cash did I have?" And on and on. Then you find it on the floor of the car or between the couch cushions a new feeling washes over you: Relief. Well, that's the feeling you will give your insureds when you give them a Coalition quote, but even better. It's like knowing you can't ever lose your wallet. Ahhh.
Try Coalition! We've talked often about how failing to offer coverages and/or documenting that you did offer increases your risk of insurance agency E&O claims. Along with flood insurance, uninsured motorist, personal umbrella, in-home business, environmental and others, offering cyber insurance is a real value to your insureds. You should offer it and document you did. Let the client say no.
With Big "I" Markets and Coalition, we make it easy to quote cyber directly on the Coalition site. No more asking for a quote. You are in total control. You can even bulk quote. Admitted options are available now in 18 states, and will be in most states soon. Don't delay, quote your first risk today. Visit www.bigimarkets.com or contact Carla McGee at 800-221-7917, ext. 5495.
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VU Webinars and Lightning Learning
Virtual University
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WEBINARS - Two-hours with CE in select states.
View the complete calendar, registration links and see what states have CE approval online. Registration includes live webinar, on-demand recording and a transcript.
LIGHTNING LEARNING - Twenty minutes each with a focus on Did the Underwriter Follow the Law?
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August 6 - 11:30 a.m. ET - Underwriting Period: How Long Does a Carrier Have to Review a New Policy?
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August 13 - 11:30 a.m. ET - Mid-Term Cancellations: When is a Carrier Allowed to Cancel a Policy Before the End of the Policy Period
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August 20 -11:30 a.m. ET - Conditional Renewals: When Does the Carrier Have to Give Renewal Information?
Register once for the monthly Lightning Learning package and receive all sessions for one low price. Registration includes live presentations and on-demand recordings.
VU Webinar and Lightning Learning questions can be sent to VU staff. The 2019 calendar and all links are available here.
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Prizes will be to the first response with the correct answers and then four selected at random from all received by 6p.m. EDT on Wednesday. Win a $5 gift card (Starbucks, Dunkin' Donuts, Baskin Robbins, or Krispy Kreme).
Don't forget to answer the Tie Breaker!
1. Doug Teixeira and his wife, Lindsey Pelton were recently arrested for filing a false police report. It is alleged they attempted to commit insurance fraud by claiming two criminals invaded their rented home and did what deed, that they actually did themselves?
2. In the "double duty life" link in the Special Feature article, what percentage of workers surveyed said medical expenses were the reason they took a hardship withdrawal from their 401(k)s.
3. In the first article, what are the four covered restaurant classes that begin with "F"?
TIE BREAKER
TB - Which Apollo 11 astronaut made this iconic boot-print?
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BIG "I" MARKETS SALE OF THE WEEK
Congratulations to our agent in Pennsylvania on a Small Commercial sale of $10,123 in premium!
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In a restaurant if one customer spills their drink and a few seconds later another customer slips and is injured no reasonable judge or jury would find the restaurant negligent. When does negligence occur? What if the spill isn't cleaned up for 10 minutes, 30 minutes, or over an hour before someone is injured?
