How Hard is it to Sell IUL's to Farmers and/or Ranchers?

Apr 3, 2018

  1. CuriousGeor
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    CuriousGeor New Member

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    Anyone have experience selling IUL's to Farmers and/or Ranchers? Looking for a Niche market and thought it may be an avenue. :spinny:
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Ever heard the phrase "Bought the Farm"? That phrase is regarding farmers and their life insurance to cover the mortgage(s) against the land.

    I know that farmers and ranchers have unique needs and it can be a lucrative market for either WL or IUL.

    I don't have experience in this market one bit, but I know it can be very good.
     
    DHK, Apr 3, 2018
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  3. Corpuschristi
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    Corpuschristi Expert

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    I farmed and ranched before going into the insurance biz, most are conservative with thier money. They understand the guarantees of whole life, but find IUL more complex and some have fears from bad experience with UL's of the past. The average age of independent farmers/ranchers is about 60 years old. Many are land/asset rich but cash poor, they NEED life insurance. These people are very intelligent and most have degrees in agricultural but they want to work with people they trust.
     
  4. CuriousGeor
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    CuriousGeor New Member

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    Thank you Corpus for your advice.
     
  5. chaseman
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    chaseman Expert

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    I agree with Corpus. I remember having a 10:00 p.m. (yes p.m.) appointment with a farmer to convert his term to permanent. That was around the time he got off his tractor because it was harvest season. He converted it. Expect to burn a lot of gas. Farmers are great.
     
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