Is what you’re doing this morning aligned with AmeriLife’s mission and your purpose? Is it something that moves you closer to the outcomes you need to achieve? Or is your morning something less? Is what you’re doing important? Is it something that matters? If what you’re doing wouldn’t matter were you not doing it, is it the best use of your time? When you complete what you’re doing this morning, will you be proud of having done so? Will you point to what you did as an outcome worthy of your time and effort? Will you one day wish you hadn’t spent time doing what you’re doing this morning because another, far better outcome should have been obtained? If you’re grateful for the time you have, you’ll see how that short time is, and you’ll use it to do what’s important.
How well your Senior Product clients live in retirement depends on two things: their income and the local cost of living. A new study ranking each state based on how many of its retirees meet a basic standard of living comes up with an interesting combination of places that are financially friendly – or not – to those 65+. Example: 31% of Mississippi’s retired single people and 24% of its retired couples fall into what the study calls the “gap” between being poor and having barely enough income to cover basic expenses, shows a 50-state analysis by the University of Massachusetts. A general way to think about the people inhabiting this gap is that, while they are above the poverty line, they are still financially insecure.
Retired Couples in the Gap Between Poor
and a Basic Standard of Living
Retirees in the gap as a share of total retired population
The heart of the analysis is an “elder index” specific to each state, which estimates the income necessary to cover essential living costs: rent, food, transportation, health care, a phone and household items. (Vacations, dining out and entertainment are not included in the estimates). Agents might find this information helpful when discussing insurance products and state-specific demographics and expenses.
AmeriLife announced its partnership with Stephens-Matthews Marketing, a Beverly, Ohio-based insurance marketing organization. Stephens-Matthews provides life, health, Medicare-related and other insurance products and marketing services to agents across the nation. AmeriLife acquired a majority interest in Stephens-Matthews. Dave Stephens, the company’s founder, will hold a minority interest in the company and lead its team under its Stephens-Matthews brand. Stephens will also be a member of AmeriLife’s brokerage management team.