According to a new study conducted by Aviva USA, in partnership with the Mayo Clinic, nine out of 10 people who responded to the poll said that they think about 20 percent of their retirement income will go toward medical expenses, such as for treatment, insurance and co-payments. But The Urban Institute says that consumers should expect to designate at least 10 percent more of their savings to healthcare, as it usually turns out to be about a third of the average American's income.

The study also revealed that respondents may need to go see the doctor more often due to negative health effects resulting from obesity. Approximately 50 percent of participants noted that their weight has increased "slightly" or a "great deal" over the past decade, while 16 percent said it decreased.

Philip Hagen, medical director at the Mayo Clinic, indicated that consumers today often underestimate their expenses related to healthcare, which can be particularly risky later in life when medical treatment is more commonplace.

"This survey revealed most Americans are unrealistic about some of the repercussions of lifestyle choices and aging - specifically, that as you get older, your health is apt to decline and your need for health care increases," said Hagen. "Getting regular preventive care and improving lifestyle habits to decrease health risks can help reduce these expenses and improve health and quality of life."

During a webcast hosted by Merrill Lynch, retirement and wealth management experts urged financial professionals to prepare their clients for the "curve balls" they're bound to experience with respect to healthcare cost planning. David Tyrie, head of personal wealth management, said that agents can help their customers by explaining to them how certain variables have an impact on their overall cost considerations, according to InsuranceNewsNet.

To help, ProducersWEB contributor Karlan Tucker says there are several ways in which life coverage can improve the lives of clientele.

As most people already know, life insurance brings a sense of comfort for insureds, knowing that should they pass away, their loved ones will be financially protected so that they can continue to take care of their material needs. Tucker points out, though, that people often forget about the life insurance's value from a business standpoint, as it helps protect a client's assets from creditors.

Another way in which life insurance benefits customers is by establishing a fund for retirement. Due to the increasing cost of living, it's harder than ever to be able to afford leaving the workforce. Life insurance provides a base upon which retirees can establish a retirement savings fund.

Perhaps the most obvious positive attribute of life insurance is the death benefit. Because its tax-free, beneficiaries can better deal with estate issues that need to be settled following a person's passing. And because there are many other ways in which life insurance can be enhanced, this is only the tip of the iceberg with regards to creating a "lasting legacy," as Tucker describes it.

Taxes are treated differently through life insurance. Through policy loans and placing money into a plan that can be accessed tax-free, Tucker says this is an ideal way in which to diversify a portfolio.

With these tips in mind, agents may be able to more effectively take advantage of their life insurance leads so that they can better explain the variety of ways in which this type of coverage can be utilized to its fullest extent.

At more than 200 million subscribers, it's clear that LinkedIn has carved out its own niche in the social media market. However, as ProducersWEB contributor Amy McIlwain points out, if users aren't following some of the strategies that enable them to stand out, their joining may be an exercise in futility.

For example, studies show that on dating websites, individuals are much more likely to click on a profile if it's accompanied with a picture. The same general rule applies with LinkedIn. McIlwain indicates that not only should a headshot be prominently featured, but it should accurately portray what one currently looks like.

"Does your profile picture look like a mugshot?" said McIlwain. "Is it a picture of you from 10 years ago? If so, it might be time to take some new, professional shots."

Don't be shy about keyword usage
Keywords are huge in the social media world, as indicated by the hashtag phenomenon that Twitter followers use in their posts. Keywords are important to utilize for LinkedIn users as well. For example, if potential employees are looking to hire someone with a unique set of skills - such as a retirement investment advisor or someone who's able to collect health leads for insurance agents - then those words should be used liberally throughout a profile description, McIlwain recommends.

Over time, professions change and experience is gained. Thus, McIlwain says that LinkedIn users need to account for these career path accomplishments by updating them on an as-needed basis in one's curriculum vitae or resume.

Words on a page aren't enough to attract employers; they need to be interesting and to the point for people to read them. McIlwain says that users should try to balance brevity with specific details that make a profile come to life, such as how one got into the profession and what their ultimate goal is.

Social media has played a major role on consumer and business interactions. J.D. Power and Associates recently published a report detailing how companies have adapted to the social media age in their practices.

Speaking at the annual Retirement Industry Conference, which was sponsored by professional development firm LIMRA as well as the Society of Actuaries and performance management company LOMA, Stig O. Nybo said that insufficient retirement savings beats them all.

"[It's] the biggest social issue of our time," said Nybo, according to InsuranceNewsNet.

How this issue is addressed can't come from one single source, he maintained, but it requires a group effort from insurance professionals, personal responsibility that retirees have to themselves as well as proactive measures from the federal government.

Because agents can only control their own actions - as well as those of the industry they work for - Nybo said that insurers need to be provide better clarity as to how insurance customers can get on the proper retirement savings path. in other words, it's not enough to simply supply consumers with retirement information, but how these details can be put to use.

"We need to tell people what they need to do, and set the context for them in a way that will lead to success," said Nybo, InsuranceNewsNet reported. "If we don't get bold about it, it's not going to change things."

Withdrawal from retirement savings can set consumers back
LIMRA points out that customers often sabotage their retirement savings goals by withdrawing from their 401(k)s and other savings devices far too early. Consumers can avoid this issue by committing to themselves that the money they set aside for life after they leave the workforce remains untouchable - particularly among individuals who still need to work 30 or more years before they can call it a career.

"Although retirement is likely decades away for Gen X and Y workers, it is critical that they understand how the financial decisions they make today will affect their retirement lifestyle," said Alison Salka, LIMRA Retirement Research corporate vice president. "Our research shows that fewer than half of Gen X and only a third of Gen Y believe saving for retirement is a top priority. If younger Americans start saving just a few years earlier, it can have a significant impact on their retirement security."

Insurance expert Alan Shulman recently explained the ways in which industry professionals can get the most out of being local.

One of the ways is by inviting clientele to in-office events. Shulman says that if the company that agents work for ever host company gatherings, it's a good idea to invite insureds and prospects to some of them now and then.

"These might include a simple meet and greet office tour, a jewelry appraisal day - with a hired professional - or a lively insurance education seminar for new teenage drivers," said Shulman. "You can even host a policy organization session where attendees bring in all of their insurance papers, regardless of who writes the policies."

Another benefit of being local is house calls, which are virtually impossible to do as a national insurance agent. Shulman says that being able to pop into clients homes enables agents to get a better idea of how they live and the way in which they use their plans. This, in turn, can give agents a better idea of how they can suggest their clients put their coverage to the best use.

Local agents are some of the best professionals the insurance industry has. And in the end, the customer is the one who benefits the most. As recent data from professional development firm LIMRA reveals, consumers who work with a financial or insurance advisor tend to do better financially than those who work without assistance. For example, they are more likely to save for retirement at a higher rate, contribute to a retirement savings plan and feel optimistic about their retirement prospects.

ProducersWEB contributor Lew Nason notes that there are a myriad of ways in which these opportunities can be created, bounded only by agents' imaginations.

One of the best ways is by relying on those who one knows already. Whether it is friends, family, current customers or acquaintances, agents should speak to everyone they know about the line of work they specialize in, asking them if they know of anyone who may need life insurance. They're almost certain to know of at least one person who has been talking about this type of coverage or is in a situation in which life insurance would help satisfy some of their concerns.

Industry professionals know that as with other lines of work, it's not always what you know, but who you know. Thus, networking is a crucial component of attracting life insurance prospects. Nason recommends working with local businesses who may not be involved in insurance sales specifically, but nevertheless have customers that are rife with potential. Real estate agents, attorneys and mortgage brokers are a few examples of professionals who may be worth contacting.

Though circulation rates may be down for many national newspapers, many local periodicals are still thriving. Nason suggests that for agents who like to write, consider speaking with the town or state newspaper editor about whether they'd be willing to carry a regular column about insurance topics. There could be a market for this type of information, giving agents the audience that they're looking to appeal to.

But as indicated by Sam Friedman, research team leader for Deloitte's Center for Financial Services, a considerable number of retirees limit themselves to what they purchase mainly because they're not familiar with what's available.

Several polls indicate as such. Friedman pointed to a recent poll that was conducted by the risk management firm, which found that 40 percent of individuals over the age of 55 didn't know anything about annuities, what they provided or how they worked. In addition one in every four retirees has a rudimentary understanding of what they can do to improve their income levels after they leave the workforce.

The best solution to this problem, according to Friedman, is to rebrand products so that they're more attractive to customers. In other words, if a certain strategy has always been used to entice people to buy, it may be time to adopt a new action plan to see if it resonates.

It's also important to try and get a feel for the customer and what explanations work. For example, some people may want to know every minute detail of a policy, while others want a basic understanding of it all, focused more on the big picture than the parts that make up the whole.

It's unwise for insurance agents to assume that their customers will come to them seeking their advice. Professionals have to initiate these meetings. According to a recent poll conducted by LIMRA, major life events - such as a death in the family, having a child or getting married - rarely result in life insurance buys.

It begs the question, though: Is it ever OK to swear at the office? ProducersWEB contributor Jeffery Hoyle recently touched on this subject after speaking with a colleague, who asked if he had ever swore at someone at the office.

While admitting that the occasional expletive slipped out, he said that more often than not, swear words were off-limits. Nevertheless, given the frequency with which profanity is used, he wondered whether it was ever appropriate.

Based on polling data, one might think that today's employees find nothing exceptionally wrong with it. According to a poll conducted last year by Harris Interactive on behalf of employment website CareerBuilder, more than half of office workers today say they swear at the workplace. Of those who do, 95 percent said that it was in the company of co-workers and rarely when clients or senior executives were around. Just 7 percent of respondents indicated they used profanity in front of a customer.

Yet despite more people swearing than not, a considerable percentage of participants in the poll said that they didn't think highly of the practice. Eight in 10 believed that cursing was amateurish and hurt workplace morale. Additionally, three out of every four said that it suggested a lack of control, with 70 percent saying it was immature.

For these and other reasons, Hoyle noted, swearing is best left in the company of close friends in a private setting, not among co-workers and clientele in a professional environment.

According to the survey, which was conducted by investment firm Franklin Templeton, approximately four in every 10 Americans say that when they're readying their economic situations for retirement life, they often worry that what they wind up saving will turn out not to be enough by the time they turn age 65, the traditional age in which people leave the workforce for good.

In fact, more than two-thirds of respondents said that they'd willingly alter their lifestyle now if they knew that by doing so they would live better in retirement.

When respondents were asked what they would do if by the time they reached retirement they didn't have the finances to stop working, 62 percent of respondents said that they fix the situation by working a bit longer. However, researchers point out that many people don't have this luxury, as due to staff cutbacks or health complications, some people are forced to quit their employment positions.

Michael Doshier, vice president of retirement marketing at the investment firm, noted that these situations are crucial for insurance agents to address, as the way in which insurance professionals handle the situation can help their clients realize what their options are, thus reducing their feelings of stress.

April happens to be Stress Awareness Month. Officially recognized as such for more than 21 years, the annual occasion is sponsored by the Health Resource Network. Mental health experts use it to better inform people about the consequences of not addressing high anxiety and how it can affect their everyday lives.

According to the Consumers Union, the Summary of Benefits and Coverage form was recently pre-tested with consumers. A Consumer Reports survey was conducted shortly after policyholders were given it and a mere 9 percent said that they were dissatisfied with how it helped them understand their health coverage choices.

At the same time, though, many people are unaware that the SBC form even exists. For example, the poll found that only half of consumers who shopped for a new plan ever saw the SBC form.

Lynn Quincy, senior health policy analyst for Consumers Union, noted that more people may be able to gain the understanding that they need about the PPACA but what's crucial is that the form actually get to the people who need it most.

"It's clear that consumers like the form, but in order to get the most out of it we need to find a way to make sure consumers see the SBC when they are shopping for insurance," said Quincy.

Quincy added that health insurance carriers will be able to access these forms, and when they attach them to their already existing plans, they should put them up in the front of the multi-page documents rather than the back, where they're less likely to be seen.

The Patient Protection and Affordable Care Act is expected to go into effect in 2014, but several states and insurers are making preparations now so that they aren't behind come January 1.

But as beneficial as Twitter and Facebook may be, there are certain lines that shouldn't be crossed when it comes to interactions, status updates and Tweets.

With this in mind, ProducersWEB contributor Amy McIlwain outlined what some of these unmentionables are.

First and foremost is anything that can be construed as personal, such as details about finances. What people earn for a living is a sensitive subject and should not be be broadcast to others, McIlwain advises.

It's often said that politics and religion are like the third rail on a subway or train system - don't touch it. This especially applies in social media environments, as even harmless conversations can materialize into full-blown arguments that can cause friction, according to McIlwain.

While there's nothing wrong with using Facebook as an outlet to talk about what one is doing at any given moment - whether they're having dinner, headed out for a movie or relaxing at home - there should be a line drawn between professional and personal social media use. McIlwain recommends not crossing over that line so that all communication between customers and clients are always on the up and up.

Social media is being used by more people - especially in the insurance industry - on a daily basis. In fact nearly half of all financial advisors and agents say they use it regularly, according to a recent Accenture poll. However, there's still a lot to be said for face-to-face communication. Experts recommend not letting social media be a substitute for personal interactions with customers.

According to analysis from the Employee Benefit Research Institute, after reviewing some of the savings and financial maintenance habits of a group of U.S. adults, researchers found a link between those who sought input from a financial advisor and how at risk they were for having a low supply of money headed into retirement. For example, among those individuals who actively strived to live up to the recommendations made by a financial expert, they were able to reduce the likelihood of running out of money for their retirement by between 9 percent and 13 percent. That probability was largely dependent on how large the respondents' families were.

Meanwhile, for people who did not seek the advice of a financial advisor, they used guesswork in order to determine how much it would cost them to retire. Independent of how much money they were making, those who did so were more likely to be off-base in choosing a target amount that could conceivably be sufficient in order to be able to retire comfortably.

"As American workers bear a growing responsibility for accumulating retirement income and managing the drawdown of those savings during retirement, it is more important than ever that households be able to set adequate targets for their retirement savings," said Jack VanDerhei, research director at EBRI and co-author of the report.

He added that far too few people today actively recruit the assistance of a financial advisor or insurance professional.

This appears to be a widespread issue that some people are reticent about. In a separate poll conducted by Forbes Consulting Group, even though only one-quarter of moms surveyed said they were content with their money situation, less than 33 percent of them used the services of a financial expert.

According to new research conducted by education technology company EverFi, Inc., close to 50 percent of students who are currently in high school say that they're unfamiliar with how to establish credit. As industry professionals are aware, credit data plays a role in how insurance rates are assessed, among several other criteria that's used.

What's particularly revealing is what credit score teens often think is a good one. The survey found that, on average, respondents considered a score of 500 to be strong, while 33 percent thought a score of 300 or less was at the very least satisfactory.

The poll also showed that teens today often assumed they were entitled to certain payments from the government. For example, 41 percent of respondents said that they expected to be compensated for all the taxes that they had paid after filing a tax return or that they weren't required to pay federal income taxes whatsoever.

Tom Davidson, CEO of EverFi, indicated that these findings are sobering, given the fact that they will soon be making their own financial decisions.

"Many high school students have little, if any, personal experience in managing their own finances, yet they are just moments away from entering adulthood, opening lines of credit and making financial decisions that will impact their individual futures and our entire global economy," said Davidson. "This cyclical nature of sending students into the 'real world' without sufficient financial education is leaving the next generation unprepared for the challenges they'll face as adults."

Financial literacy is an issue many of today's adult consumers deal with. Polling data from the National Foundation for Credit Counseling reveals that more than three-fourths of consumers in a recent survey had financial worries. These fears may be allayed by providing consumers with a more thorough understanding of money matters.

According to global information services firm J.D. Power and Associates, on a 1,000-point scale, overall satisfaction among claimants who filed a property insurance claim with their insurer reached a score of 832. That's up from 823 in 2011 and 818 in 2010.

Researchers determined policyholders' overall contentment with the insurance claims process based on several factors, including the settlement, first notice of loss, estimation process, repair and service interaction.

Jeremy Bowler, senior director of the insurance practice at J.D. Power, indicated that what's particularly telling about this most recent report is that satisfaction improved despite the significant uptick in claims submissions.

"The fact that customer satisfaction remains high is a testament to how diligently the personal insurance industry has responded to its customers," said Bowler.

The insurance industry has been hit hard in the past few years, largely as a result of destructive natural catastrophes. According to reinsurance firm SwissRe, 2012 was the third-most costly year on record for insurers, with losses in excess of $77 billion.

This may explain why average settlements amount were higher last year. The typical compensation policyholders would receive following a claim was more than $8,500, from from $7,940 during the previous year.

Some components of the insurance claims process could stand some improvement, though. J.D. Power notes that only 56 percent of filers said that speaking with an insurer's call center helped put their mind at ease. Meanwhile, nearly three in every four respondents said that the agent they dealt with enabled them to feel more relaxed and at peace.

According to global management consulting and technology services firm Accenture, approximately 50 percent of today's financial professionals use social media on a quotidian basis. In other words, they interact with websites like Facebook, Twitter and LinkedIn daily in order to stay in touch with their clientele, reporting to them about various happenings that they should be aware of.

And those who use it say that it's paid off for them in the long run. The Accenture survey revealed that close to three-fourths of advisors said that they had increased their business as a direct result of social media.

Alex Pigliucci, global managing director of wealth and asset management services for Accenture, said that these means of communication will often set advisors apart from their competitors, which will be more apparent in the years to come.

"The use of social media to interact with clients is a differentiator for advisors today, but it will be mere table stakes in the not too distant future," said Pigliucci.

He added that because today's investors, many of whom are insurance customers, are relying on social media to improve their financial awareness, industry professionals who take advantage of this medium will be able to build lifelong relationships. Those who don't will miss out on a golden opportunity.

There's still something to be said for personal interaction, though. In a separate survey conducted by Amplitude Research, respondents said that they preferred to gain positive feedback from others in a face-to-face setting rather than an electronic channel, such as email, social media or text messaging.