Awareness Part 2

Almost twenty years ago in the mid 1990’s I started to think about what happens to Non-Qualified Plan Benefit Payments when they are distributed to Executives. Back then I was a Northwestern Mutual Special Agent and an Associate with The Todd Organization. It seemed to me it would be a good thing to have an advisor relationship with these executives, a great customer base. But I never did come up with a workable idea and a story compelling enough to get a project going. I am not the only person to be asking this question and some have tried however there is not much evidence of great success.

What has changed for me that I now believe in the potential success for NQnext?

– AWARENESS –

Our perspectives are changed by real life experiences. Last week I sent out an E Mail to ten of my peers in the insurance industry. Some were under 55 (my age), some over. I asked them about their parents, if they were still living, if deceased how old they were at the time they died and then if they had experienced a long term illness. Many of them had stories to tell about the lessons learned from watching their parents in the later and final years.

I personally became aware of what families go through when an elderly parent becomes ill. My Father died in April and in the uncertainty of his last two weeks my perspective changed and NQnext was launched not long after.

NQnext simply presents the idea that it is a good time to execute a Life Insurance and Long Term Care Plan when Non-Qualified Benefit Payments commence. Since individuals receiving these payments are typically ages 55 to 70 there is a good chance they are AWARE of the costs associated with old age because of their experiences with their parents or parents of friends.

Over coffee earlier this week I sat down with a new friend Matt Hamann who has spent more than 20 years in the Long Term Care (LTC) Industry. Matt told me that when he started in the LTC business there was a lot of focus on statistics and the chances that someone will have a LTC event. But now he sees a change in the message that really boils down to a simple question – “What if the same thing happened to you?” – NQnext recognizes the need to ask this question and those of us associated with NQnext will be working toward getting permission to pose that question to individuals receiving Non-Qualified Plan Distributions. This one question opens the door. I expect you will hear more from Matt on this subject.

Today I read a tweet with a Chinese Proverb – “The best time to plant a tree is 20 years ago, the second best time is now.”

Let’s do this now!

Thank you for reading!

Doug Marshall

You should follow me on twitter here ➡ www.twitter.com/jdougmar
From there you can link to @NQnext and @sPlan5