Ladder Life survey about Americans’ non-essential spending strikes a chord

May 14, 2019 at 1:11 AM

  1. Insurance Forums Staff
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  2. rousemark
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    And, just who makes the decision as what is"non essential"?:skeptical:
     
    rousemark, May 14, 2019 at 3:34 PM
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  3. LostDollar
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    Unfortunately it is not quite as simple as the surveyors want to make it.

    If one wants to develop social networks, one has to do what the others do in order to be with them.

    It starts with church with things like the church coffee bar, eating out afterwards and (sometimes) pretty pricey youth group activities.

    Then it goes on to eating out with co-workers. Bringing your own sandwich to work is pretty much a guaranteed way to be "out of the loop".

    And then goes on from there.
     
    LostDollar, May 14, 2019 at 8:12 PM
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  4. Ernesto
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    YESS ...AND THEY DON'T EAT BACON
     
    Ernesto, May 14, 2019 at 8:34 PM
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  5. LostDollar
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    Starbucks is essential while you are studying for insurance license exams. It becomes non-essential after you pass them.
     
    LostDollar, May 14, 2019 at 9:10 PM
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  6. rousemark
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    Not for me... I don't patronize Starbucks.. But, I do drink plenty of coffee... To me Beer is a non essential but I didn't see it on their list.. Last night at Red Lobster and that certainly was essential to satisfying my lobster craving... :yes:
     
    rousemark, May 15, 2019 at 7:34 AM
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  7. VolAgent
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    This study and the response to it on USA Today are a great example why most people fail miserably trying to sell insurance on social media. Shaming people into buying life insurance doesn't work. Plain and simple, in fact you will push most people further into their bad habits.
     
    VolAgent, May 15, 2019 at 10:21 AM
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  8. rousemark
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    I was taught originally to "find" the money for the premium by uncovering something they were spending money on that they didn't really need.. Occasionally it worked but those sales were usually a lapse waiting to happen. Then I tried comparing the cost with one of their "vices" such s it only cost 2 packs of cigarettes per week.. That worked a little better.. Some times I would even tell them, if you can spend enough for 7 packs per week to put yourself in an early grave, surely you can afford two more packs to take care of your family,,,I could get away with it because I was also a smoker..Tried many differnt ways t get prospects off dead center. Some worked better than others... Unfortunately none worked all the time..
     
    rousemark, May 15, 2019 at 4:10 PM
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  9. VolAgent
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    Even a broken clock is right twice a day.

    People buy life insurance because it solves a pain, not because they were guilt tripped into it.

    The other big thing on social media is for companies to run ads about how fast you can get life insurance. If speed was the problem, SelectQuote, AIG Direct, etc. solved it years ago. Life insurance sales and ownership should be trending up, and not down.

    Until people truly grasp the financial difficulties their family will face at their passing, life insurance will always play second fiddle to anything else.
     
    VolAgent, May 16, 2019 at 9:46 AM
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