Is the old school way of insurance sales- gone forever?

[rousemark]

I'm talking about this was almost 30-years ago in 1996. They were telling us about the huge shortage of agents. There was some report that had just been made and everyone had it. It had visual graphs showing the tidal wave of Baby-Boomers that were going to need our help. They had not flooded into the senior market yet. But it was coming.

1996...almost 30 years ago. Doesn"t seem possible.

 

[HomeService]

Which old school?

Mine is mid 80s - working a large mutual non collecting debit / book.

The year I started The Coach was replacing 'low lifes that sell Whole Life' left and right. Universal Life was the greatest thing since sliced bread @ 12%. SelectQuote was founded, term Insurance by phone.

The old agents in the office all laughed and said these part timers are a flash in the pan, UL will never replace VL or WL, No one is going to buy Life insurance by phone.
Oh, and SelectQuote and OldLine Life were running ads with $1,000,000 quotes, in 1985. Crazy!

Is 20 years ago old school?

The 20-30 olds coming into the business today will be calling the 20s old school.

Stuff changes.

And the beat goes on?

yes I'm talking 1980's at least and maybe even 1970's. yes I used to use the polk directory. now I use white pages lookup on the webz. it gives a lot of the same info as the old polk directory used to.

 

[HomeService]

We had 72 applications to join my agency over a recent 7 day period, and only 6 or 7 wanted to sell face to face.

I will admit when I was looking around at agencies, IMO's, yours popped up. I thought the "application" thing was old school and a nice touch.

 

[WinoBlues]

yes I'm talking 1980's at least and maybe even 1970's. yes I used to use the polk directory. now I use white pages lookup on the webz. it gives a lot of the same info as the old polk directory used to.

White pages - Same, I used to work hundreds and hundreds of orphans so data stalking tools were helpful. I think I still have a subscription.

Reverse directories, Thomas Guides, gas station maps, brochures, apps, files, orphan policy cards and on and on. My trunk was loaded.

 

[rousemark]

yes I'm talking 1980's at least and maybe even 1970's. yes I used to use the polk directory. now I use white pages lookup on the webz. it gives a lot of the same info as the old polk directory used to.

I don't know if F2F is going away. Seems to be in cert a in segments of the industry such as FE and some term markets but is still alive and well in the more complicted markets such as estate planning and the business planning. The old school practice of home service, agents going by and collecting every month seems to be on the way out. There ar we very few companies left that support that and most of them are regional.

 

[HomeService]

So, out of those 38 years- keeping the license up to date, maybe 5 total years of selling. I had a courier company for 22 years now, getting burned out on it. Should be beyond the grandfather date where I no longer need continuing ed, but I let it lapse like 15 yrs ago or 20 yrs. ago but got the license back.

I don't know if F2F is going away. Seems to be in cert a in segments of the industry such as FE and some term markets but is still alive and well in the more complicted markets such as estate planning and the business planning. The old school practice of home service, agents going by and collecting every month seems to be on the way out. There ar we very few companies left that support that and most of them are regional.

I'm still an old school debit guy and I admit it.

 

[noah]

Final expense uplines are basically MLM agencies. They want agents to dial,knock doors,whatever so they can get an override. Those who operate these agencies would never do either. They look for the monkeys who will drink their kool aide. They have zero interest in getting out there and meeting people or dialing all day long,probably don't know how either. However ,you must get contracted so might as well play along. They serve a purpose.


F2F street agents do this job because they have a natural interest meeting people,helping them obtain suitable coverage. Many have been in their careers 20,30 + years because they built something with a vision and their longevity proves it.
Our clients have a natural desire to meet with us and buy from us and that's not going away.

Big difference is the generation of young people(under 35) who if they could,they wouldn't work at all. Just be a stay at home dad or live in momma's basement. As long as they have a place to stay,a few cigarettes or a vape and can pick up a few bucks they're good.

Perfect candidate for telesales.

Me ? I'd start a fruit stand in Nicaragua before I I sold any over the phone or a computer.

 

[WinoBlues]

First F2F meeting in a year or two.
Client calls me to increase her mother's policy by $5,000. F-81. I can do it over the phone. I have maybe 8 to 10 policies in the family. Real old school!

However, we can meet at one of the sisters house 15 minutes away so I drive out. We talk, I show them all the options in the quoter, they ask my recommendations, we do the Eapp for $10,000.

I think it was JD that said Old School is a state of mind.

My way is Old School, to me.

 

[Allen Trent]

We had 72 applications to join my agency over a recent 7 day period, and only 6 or 7 wanted to sell face to face.

Based in prior answers in this post, I can only deduce that you then have a larger % of ugly applicants. You may need to evaluate why you are attracting such a large number of ugly applicants. Not that there is anything wrong with that, it's 2024 & you are free to be into that.

 

[Allen Trent]

Not meaning to nitpick but Im guessing you meant rogue, not rouge

Alot of final expense customers are also big buyers of rouge, so being final expense agent can be a good side gig for all us rouge sellers. We love the rouge wearing ladies & some of the rouge wearing fellers