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Re: Is the life insurance market going to drastically drop due to the possible recess
I am trying everything to get offended... but that was too damn funny.
I am trying everything to get offended... but that was too damn funny.
Is the life insurance market going to drastically drop due to the possible recession?
- Thread starter murph
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- 263
Re: Is the life insurance market going to drastically drop due to the possible recess
He certainly does close. Every time he completed a business transaction, attracted a new parter with their money, etc, he was closing. Perhaps not sales in the sense that you and I are used to, but it's closing nonetheless. BTW, I sold Insurance 16 years ago, I've sold many other products since then.
Yeah, he speaks publicly. He also lets his negative views about the economy and our entire economic system known to the world. You do realize that has an effect on stock prices and people's feelings, right? Scare the cr@p out of people and they will react. Especially coming from someone who is so successful.
This guy wants to make policy. While I agree with some of his views, I dont believe that our system of government (Free market, Representative Republic) will alllow it.
Buffett:
He certainly does close. Every time he completed a business transaction, attracted a new parter with their money, etc, he was closing. Perhaps not sales in the sense that you and I are used to, but it's closing nonetheless. BTW, I sold Insurance 16 years ago, I've sold many other products since then.
Yeah, he speaks publicly. He also lets his negative views about the economy and our entire economic system known to the world. You do realize that has an effect on stock prices and people's feelings, right? Scare the cr@p out of people and they will react. Especially coming from someone who is so successful.
This guy wants to make policy. While I agree with some of his views, I dont believe that our system of government (Free market, Representative Republic) will alllow it.
Buffett:
- has repeatedly criticized the financial industry for what he considers to be a proliferation of advisors who add no value but are compensated based on the volume of business transactions which they facilitate. He has pointed to the growing volume of stock trades as evidence that an ever-greater proportion of investors' gains are going to brokers and other middlemen.
- has emphasized the non-productive aspect of gold in 1998 at Harvard: "It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
- has stated that he only paid 19% of his income for 2006 ($48.1 million) in total federal taxes, while his employees paid 33% of theirs despite making far less money.[16]
- believes that the U.S. dollar will lose value in the long run. He views the United States' expanding trade deficit as an alarming trend that will devalue the U.S. dollar and U.S. assets. As a result it is putting a larger portion of ownership of U.S. assets in the hands of foreigners. This induced Buffett to enter the foreign currency market for the first time in 2002. However, he substantially reduced his stake in 2005 as changing interest rates increased the costs of holding currency contracts. Buffett continues to be bearish on the dollar, and says he is looking to make acquisitions of companies which derive a substantial portion of their revenues from outside the United States. Buffett invested in PetroChina Company Limited and in a rare move, posted a commentary[17] on Berkshire Hathaway's website why he would not divest from the company despite calls from some activists to do so. (He did, however, sell this stake, apparently for purely financial reasons.)
- believes that the world is nearing its maximum capacity of oil production, and that gradually depleted oil fields could reduce the amount produced.[18]
- believes government should not be in the business of gambling. He believes it is a tax on ignorance.[19]
- 263
Re: Is the life insurance market going to drastically drop due to the possible recess
See, stuff like this:
I got the feeling a long time ago that Warren Buffet wants a world full of drones.
It's his opinion, and I respect it as such.
See, stuff like this:
- believes that the world is nearing its maximum capacity of oil production, and that gradually depleted oil fields could reduce the amount produced.[18]
- believes government should not be in the business of gambling. He believes it is a tax on ignorance.[19]
I got the feeling a long time ago that Warren Buffet wants a world full of drones.
It's his opinion, and I respect it as such.
Re: Is the life insurance market going to drastically drop due to the possible recess
Meanwhile, back at the ranch . . .
I have quite a few COBRA converts. Some are in transition while others have had enough of corp America and pursuing the American dream.
COBRA alternatives are fine, as long as everyone is healthy. The biggest obstacle is getting folks to understand it doesn't matter what you think, carriers will underwrite you and will rider, rate up or decline you if you are not healthy.
Some folks can handle the truth, others can't.
So . . . do you apply makeup with a trowel? Inquiring minds want to know.
Meanwhile, back at the ranch . . .
I have quite a few COBRA converts. Some are in transition while others have had enough of corp America and pursuing the American dream.
COBRA alternatives are fine, as long as everyone is healthy. The biggest obstacle is getting folks to understand it doesn't matter what you think, carriers will underwrite you and will rider, rate up or decline you if you are not healthy.
Some folks can handle the truth, others can't.
So . . . do you apply makeup with a trowel? Inquiring minds want to know.
- 104
Re: Is the life insurance market going to drastically drop due to the possible recess
If you're a professional it doesn't matter if we're in a recession or not. My sales have actually increased because the great thing about insurance is that when you have multiple carriers what you do is help your client get the lowest premium possible with the most benefits so that you can cut his cost on whatever he has.
If you're a professional it doesn't matter if we're in a recession or not. My sales have actually increased because the great thing about insurance is that when you have multiple carriers what you do is help your client get the lowest premium possible with the most benefits so that you can cut his cost on whatever he has.
- 263
Re: Is the life insurance market going to drastically drop due to the possible recess
Thanks, Somarco. This is good info.
Thanks, Somarco. This is good info.
- 608
Re: Is the life insurance market going to drastically drop due to the possible recess
First I want to say to Corporate Death: Semper Fi
looks like an officer's EGA
Now to address the original question; when business is down 5%, work 10% harder. The weak agents will drop out of the business. When things get good again keep your good work habits and combined with a little less compitition and you will kick ass.
First I want to say to Corporate Death: Semper Fi
looks like an officer's EGA
Now to address the original question; when business is down 5%, work 10% harder. The weak agents will drop out of the business. When things get good again keep your good work habits and combined with a little less compitition and you will kick ass.
- 2,103
Re: Is the life insurance market going to drastically drop due to the possible recess
I think we shall see more and more agents trying to sell over the phone and over the internet, and less and less of the "traveling salesman"- with gas prices like they are.
I also predict that: ins dept./government will try and crack down on this practice, and make everyone go back to "face to face" interviews. More regulation.
However, with people running into economic hardships, life insurance -and especially health insurance- will be considered a luxury , one that only the wealthy can afford. I predict the new president will make some sort of national healthcare program for all of us.
{ While I am not for national healthcare, it looks like we are headed that way. }
I cannot believe how many people I talk to -and they are very optimistic about the positive changes coming after the election. I think they are in "dreamland", but whatever makes their boat float.
I think we shall see more and more agents trying to sell over the phone and over the internet, and less and less of the "traveling salesman"- with gas prices like they are.
I also predict that: ins dept./government will try and crack down on this practice, and make everyone go back to "face to face" interviews. More regulation.
However, with people running into economic hardships, life insurance -and especially health insurance- will be considered a luxury , one that only the wealthy can afford. I predict the new president will make some sort of national healthcare program for all of us.
{ While I am not for national healthcare, it looks like we are headed that way. }
I cannot believe how many people I talk to -and they are very optimistic about the positive changes coming after the election. I think they are in "dreamland", but whatever makes their boat float.
Re: Is the life insurance market going to drastically drop due to the possible recess
Not everyone can be effective in phone sales. Doesn't matter to me if agents are trying that or not. Few will succeed.
The app mills (like HBD) will continue to crank out business . . . for a while, but most will eventually crash and burn.
I see no incentive for the DOI or any other regulatory agency to mandate marketing methods. There is no proof that phone sales produce more fraud than belly to belly app signing.
No doubt the recession, or whatever you want to call it, is and will continue to have an impact on sales. Life insurance will be cancelled before health insurance and there will be fewer sales on both sides.
If you want to buy into the MSM and political BS about nationalized health care then go for it. The only obstacle facing a government takeover is how to fund it. With the national debt at $9.6 TRILLION dollars and Medicare in particular at $74 BILLION in the red I just don't see it happening.
But it makes good headlines.
If you believe the candidates and the MSM then life will be grand in a few more months. Everyone will qualify for new or refi mortgages at 3% fixed for 30 years. GM, Ford, Delta, Starbucks will reopen plants & stores and all the laid off workers will once again have jobs and there will be zero unemployment. All of us will have cradle to grave health care at no cost. Gas prices will return to $1.50 and milk to $2 per gallon.
All we need then is Jimmy Stewart & Donna Reed and everyone will truly have a wonderful life.
Every time a bell rings another knucklehead get's everything they believe they are entitled to and life is truly grand.
I can hardly wait.
Not everyone can be effective in phone sales. Doesn't matter to me if agents are trying that or not. Few will succeed.
The app mills (like HBD) will continue to crank out business . . . for a while, but most will eventually crash and burn.
I see no incentive for the DOI or any other regulatory agency to mandate marketing methods. There is no proof that phone sales produce more fraud than belly to belly app signing.
No doubt the recession, or whatever you want to call it, is and will continue to have an impact on sales. Life insurance will be cancelled before health insurance and there will be fewer sales on both sides.
If you want to buy into the MSM and political BS about nationalized health care then go for it. The only obstacle facing a government takeover is how to fund it. With the national debt at $9.6 TRILLION dollars and Medicare in particular at $74 BILLION in the red I just don't see it happening.
But it makes good headlines.
If you believe the candidates and the MSM then life will be grand in a few more months. Everyone will qualify for new or refi mortgages at 3% fixed for 30 years. GM, Ford, Delta, Starbucks will reopen plants & stores and all the laid off workers will once again have jobs and there will be zero unemployment. All of us will have cradle to grave health care at no cost. Gas prices will return to $1.50 and milk to $2 per gallon.
All we need then is Jimmy Stewart & Donna Reed and everyone will truly have a wonderful life.
Every time a bell rings another knucklehead get's everything they believe they are entitled to and life is truly grand.
I can hardly wait.
- 1,926
Re: Is the life insurance market going to drastically drop due to the possible recess
Isn't a bad economy a grreat time to be buying annuities and whole life? Why would you think that?
Isn't a bad economy a grreat time to be buying annuities and whole life? Why would you think that?
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