50 Years!!!!!

[WinoBlues]

Sounds like bass fishing to me Wino.
Guys in boats trolling alone casting into the bank.
Guys on the bank casting as far out in the lake as they can.

Both lying about the one that got away.

Shooter

Yup Yup

 

[shonceman]

That happens here all the time. Agents drive into this area 3 hours or more one way. Agents here drive to the areas those agents left.

We always wonder if they wave at each other on the road.

"Your diamonds are not in far distant mountains or in yonder seas; they are in your own backyard, if you but dig for them." ― Russell H. Conwell, Acres of Diamonds

 

[rmhaire]

"Your diamonds are not in far distant mountains or in yonder seas; they are in your own backyard, if you but dig for them." ― Russell H. Conwell, Acres of Diamonds

Good quote. But he obviously wrote that somewhere besides South Georgia. If he'd wrote it down here he would have called it Acres of Cow Shit.

 

[somarco]

I wonder how many doors he drove by before he got to where he was going.

If you don't know where you are going you will end up someplace else . . . YB

 

[rmhaire]

If you don't know where you are going you will end up someplace else . . . YB

I may have read that one. If it had a picture that folded out when you held it upside down then yep I probably did.

 

[PrivClientSG]

July 5 marked my 50th anniversary in the business.. Things sure have changed.

1. Seemed most agents, even the ordinary agents worked in captive situations.
2. There were over 1800 active life insurance companies... now there are just a little over 800.
3. Debit companies were some of the largest companies in the nation.. Metropolitan, Prudential, National Life and Accident, and there were many more in my area, Independent Life, Life and Casualty of Tennessee, Interstate Life, National Trust Life, Liberty National Life, Kentucky Central, Atlanta Life are just a few that comes to mind.. Most no longer exist.
4. Industrial (weekly premium) life and health plans were still being written.
5. Industrial Sick and Accident was still being sold to the black clients and soem companies still had a "white" and a "black" rate book.
6. The NL&A had just quit requiring agents to wear a dress hat in the field a couple of years before I started. They still required agents to wear a tie and jacket.
7. There was almost no direct mail leads and the DNC list did not exist.

What changes have you seen since you started?

Well I'm a couple of years late, but congratulations! That's a great accomplishment, one to be admired and respected! All the best!

As everyone has, I've seen a massive amount of "evolutionary" changes. I have also seen a few that are "revolutionary" in nature. I am not sure if others have. When I entered the business 35 years ago, I entered the business, estate, and retirement/pension marketplace. My practice did "morph" into a "full service" planning, wealth management practice. I was part of a three-person group, and one retired, and I am still with the other today, although our individual practices have changed. Back then, we "did the same thing" and over time that changed. We entered and many years later sold our group business (group benefits). We exited the pension business and concentrated on business and estate planning. Today, our entire business is comprehensive wealth management and family office/concierge services. Yet, I still sell the same product -- life insurance. I have an associate who handles the disability insurance for my clients because I no longer spend the time staying as up to date and current on the various products, features, riders, policy language, etc. I used to be an expert on disability insurance back in the 90's, but not anymore, LOL. I have an entire investment team as well. No more mutual funds today. Strictly AUM, SMA, etc. Those changes are "internal" to me and my practice, my firm, etc.

I think most of the changes I've seen, and the ones that are revolutionary in nature, are more industry related, specifically, carrier driven and based. Yes, technology, I think everyone understands that. However, more to my point, I have very good relationships with some life insurance companies, have friends, and clients, who are executives there. The companies, and the executives there, know less today about "what we do" and "what we face" and "what we deal with" than they did years ago. They used to be far more connected to us and what goes on "in the field" so to speak. The chasm today between home offices and producers is far greater, far wider, than ever before, in many aspects. Insurance companies are viewing producers today very differently, and they don't view us as partners. I have several "grandfathered" PPGA contracts with life insurance companies, and while I was not "captive" to any of them, they each viewed me as a partner. They invested in my business, and had a role in my success. I served on numerous field advisory committees, product development teams, and producer advisory groups. Years ago, this work, this service meant something. Today, this service is a facade.

The industry today, vis a vis producers, there's far more mediocrity, average, and so forth. The barrier to entry to become a life insurance producer is minimal at best. Not that it ever was "high" but the industry today attracts a lot more "average" at best candidates than from years ago. Turnover may be the same, but that doesn't necessarily speak to the quality of the people entering the industry.

I also think that in some aspects of the industry, the selling of life insurance, even planning in some respects, has become a lot more "commoditized" -- and what I call "bastardized." Not for everyone, but if you want to, you can, LOL.

So, there's some changes, LOL. Thanks for all the comments and perspectives.

 

[DayTimer]

If you're getting an earful from knocking a door, you must be doing it wrong. I door knock my leads between appointments, and most folks are friendly.

I knock a lot of cold doors: no lead in hand whatsoever. Most folks are willing to chat for a minute or so and very rarely do I get someone who says "Not interested! Get off my property!"

A smile and a cheerful attitude goes a long way when prospecting.

 

[PrivClientSG]

The optimist sees the light at the end of the tunnel.

The pessimist sees only the tunnel.

The realist sees the next tunnel.

And the realist has a copy of the train schedule! LOL.

 

[PrivClientSG]

Y'all can say what you want but the insurancce business was a tough living for me.

It's tough to sell insurance no matter where you are.

They don't pay 50-plus percent commission because it's easy!!! LOL.

 

[PrivClientSG]

Today, a lot of the new people who come in talk about leads and orphans, and they seem to almost think that a block of business and hot leads are simply going to be handed to them. When I entered this business, the only leads given were D&B and every producer under the sun and moon was calling them! LOL.