The Death of the Life Insurance Salesman

By | August 18, 2009
This article nails it right on the head, something I’ve been saying for the last few years. The Life Insurance profession is going and all but gone. You don’t go to work anymore to sell life insurance and this tells you why.
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Where do we go in Distribution for life insurance products in the US?
Its products are sold in a ┬áconsultive manner and they are not bought. So the importance of recruiting and training new life insurance professionals is key. This number according to “LIMRA” has continued to decline through the 80′s, 90′s, and into this decade. Where as today the retention rates are below 10%.
Traditionally the Career Distribution systems not only built their own sales organizations but they also supplied the bank and independent systems with recruits when their agents either failed or out grew the system. The independent channels have been the big winners during this time as they have been successfully picking off the Career agents, but those days are coming to an end.
So the future now belongs to those organizations both Career and others that commit to helping their producers to create a marketing program (lead generation) that will insure and consistent flow of fresh prospects.
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