Agents Overwhelmingly Optimistic About Future Life Insurance Sales; Term Favored Among Other Products

Exclusive Agent’s Sales Journal study reveals client objections and  procrastination to buying life insurance rank high on list of challenges producers face

Clearwater, FL (May 19, 2006) - Sixty percent of life insurance agents believe their sales will increase over the next 12 months even though the majority indicated their sales remained about the same as usual over the past 12 months, according to the results of the Agent’s Sales Journal 2006 Life Insurance Survey.

Nearly 500 agents across the country were surveyed on the challenges they face in the insurance market; their sales trends, including demographics served and commissions earned; and carrier rankings. The study also identified the most important support services they can receive from their marketing organizations.

Ninety-four percent of agents have term insurance in their portfolio, and half the agents said they sell term insurance more than any other type of insurance.

Also according to the study, many of the top sales challenges agents face are consumer-oriented: client procrastination (62 percent) and the client’s perceived lack of need for the product (46 percent). Clients who say they can’t afford the product also ranked among sales obstacles (30 percent).

And agents tend to be loyal to only a few insurers while remaining contracted to a large number: 66 percent said they’re contracted with four or more companies, while 65 percent write their business through only one or two insurers.

Insurance industry trade publications are the number one source of information on life insurance information for agents, followed by insurance company home offices and wholesaler/marketing organizations.

The full results of the study will be published in the July issue of the Agent’s Sales Journal, along with an exclusive Life Insurance Sales Guide that shows producers how to prospect more effectively, how to market life insurance to hesitant clients, and which products are best for client needs.

The study results will also be published in the September edition of Insurance Marketing magazine, Agent’s Sales Journal’s sister publication.

The national edition of the Agent’s Sales Journal mails to 50,000 licensed life, health, and annuity producers. Eleven regional editions are also produced, for a combined circulation of 440,000. For a free subscription to the Agent’s Sales Journal, please visit www.AgentsSalesJournal.com. For more information, call 800-933-9449.

Advertising Contact:
Gloria Slaughter
Director of Sales and Marketing
900-933-9449 Ext. 231
[email protected]

Editorial Contact:
Jamie Green
Editor-in-Chief
800-933-9449 Ext. 229
[email protected]

About Agent Media:

Over 15 years ago, Agent Media set out to build a reliable database and marketing solutions company to serve the life, health, and annuity segments of the insurance industry. Today, the database has grown to over 1.6 million producers, representing nearly every licensed agent and registered representative in the U.S. Along with its extensive database, the company has developed a collection of integrated media tools, including the Agent’s Sales Journal, the Agent’s Market Pack, Insurance Marketing magazine, Target Agent Lists, ProducerDirect, eProducer Connect, and more. For more information about Agent Media and its products, call 800-933-9449 or email [email protected].