Primerica reports 13% growth in term life net premiums in 3Q, 5% increase in agents

Nov 7, 2018

  1. Allen Trent
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    Allen Trent Guru

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    # of active agents selling life insurance has plummeted in the last few decades. Tons of people holding licenses may never use them as a staff person, PT person in a MLM setup and a ton of stock broker/financial planners that good life licenses but sell no Life insurance. If people don't buy it at work or go find it themselves, many are never approached by agents like they were 20-40 years ago
     
  2. Golfnut2112
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    Golfnut2112 Guru

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    Your right, 20 and 30 years ago there were a lot more agents. I live in a small town boarding Ohio and Pennsylvania with maybe 50,000 people in the area.
    At that time Pru, Met, American General and Western Southern had approximately 100 agents between them, today every one is shut down.
     
  3. Golfnut2112
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    Golfnut2112 Guru

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    It shouldn’t be. I just wrote a guy a $500,000 30 year term for under $40 a month.
     
  4. LGilmore
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    LGilmore Guru

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    I was going to state that it is hard to stay in this business selling $25 a month premiums. Unless they are coming to buy immediately, you're not making a lot of money per hour. We can talk about underserved markets but it is really difficult to survive in some of those markets.

    What I have found is the "I messed up and listened to a prime agent market" These are people over 50 that have a level term policy ending and realize they still have a need. Premiums aren't cheap and commission percentages make it worth while to serve them. In most cases it's a 20-30 year term or a GUL without a lot of "selling". They know they need something and you can provide answers and costs.
     
  5. Golfnut2112
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    Golfnut2112 Guru

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    It was the easiest and fastest sale I ever made, it was my new son in law. But I agree with what you said the 50+ market is wide open because their term ended or is ending and most did not invest the difference.
     
  6. pfg1
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    pfg1 Guru

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    Hard to say no when a gun is pointing at you.... "you best take care of my daughter boy" LOL ;):D
     
    pfg1, Feb 27, 2019
    #56
  7. toolbelt
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    toolbelt Guru

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    Even if people bypassed insurance altogether, and instead invested the premium equivalent over 20-30 years, its not going to make anybody independently wealthy, or allow them to lie on a beach and drive exotic sports cars as illustrated in MLM pamphlets. Disposable income is at an all time low while personal debt is at an all time high. At least for Mainstreet Americans. In the 60's, there was one tv on the block (if you were lucky). Today, the average home has 3 tvs. Society has a spend now, worry later mindset.
     
  8. VolAgent
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    VolAgent Guru

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    Yet, it has never been easier to buy life insurance. You can buy it over the phone, internet, in a multitude of ways. And an agent can help more people than before as most agents are not visiting people in their homes anymore.

    So if affordability was issue, and its been solved, why do fewer Americans own life insurance now?
     
  9. Golfnut2112
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    Golfnut2112 Guru

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    Since premiums are cheaper than ever what do you think the cause could be?
     
  10. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Perhaps Albert Gray is still right 70 years later?

     
    DHK, Feb 28, 2019
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