Prudential Bites the Dust

[somarco]

Jack, you sound like you are buying in to Chairman Obama's declaration that we are in a recovery.

 

[ltcadviser]

Jack, you sound like you are buying in to Chairman Obama's declaration that we are in a recovery.

Well, business is good Bob. So , maybe Obama is onto something.

 

[somarco]

maybe Obama is onto something

Gimme a break . . . .

 

[Mr_Ed]

Economy got better.

The economy was not better in 2011 than it was in 2010.

My personal economy was better in 2011. But it certainly was not better for our target market as a whole in 2011.

 

[rousemark]

The insurance business does not necessary move in the same direction as the general economy.. A lot of us made more money (inflation adjusted) during Jimmy Carter's days of malaise than in any time before or since. If an agent looks for the opportunities there are certain areas of insurance that will prosper more during a downturn than an uptick.

 

[yankee466]

I think you can make an argument that a lot of people who may have lost a lot of money in the market may no longer think they are in a position to self fund for LTC......hence more LTC sales. The old "is your 401K now looking like a 201K?" approach.

Then there are all the people who are now unemployed who do not feel that they can afford any insurance right now.

 

[Arthur Rudnick]

I think you can make an argument that a lot of people who may have lost a lot of money in the market may no longer think they are in a position to self fund for LTC......hence more LTC sales. The old "is your 401K now looking like a 201K?" approach.

And, the other side of that argument is that if assets have gone down 25%, so has income. So, affordability of premiums might be a concern.

 

[rousemark]

Know an agent that has been very sucessful targeting folks who have been laid off and lost their life insurance.. He sells a lot of final expense in smaller amounts and term insurance where larger amounts re needed. He says that his persistency on the business is not much different than business written on employed folks.... I guess it a case of is the glass half empty or half full.?

I have long wondered why we let 8% or 9% unemployment detract us so much. That means that 90% of the people are employed.so 9 out 10 people we talk to haven't really been affected by the economy (other than rising gas prices).. if you want proof of that, try getting on the parking lot of a Red Lobster, Longhorn, etc.. People are still spending money.

 

[dlvhi]

Those who specialize in the product will continue to fight on, but as stated by many here, it's just not worth the trouble to sell a product in what is perceived to be a troubling market place.

Arthur, of all the things that have been said on this thread, this statement by you is most intriguing.

Are you really saying that it isn't worth the trouble to sell LTCi?

Should one not plan on trying to sel LTCi?

 

[Norwayguy]

Well, business is good Bob. So , maybe Obama is onto something.

Thanks for the laugh this morning.
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Know an agent that has been very sucessful targeting folks who have been laid off and lost their life insurance.. He sells a lot of final expense in smaller amounts and term insurance where larger amounts re needed. He says that his persistency on the business is not much different than business written on employed folks.... I guess it a case of is the glass half empty or half full.?

I have long wondered why we let 8% or 9% unemployment detract us so much. That means that 90% of the people are employed.so 9 out 10 people we talk to haven't really been affected by the economy (other than rising gas prices).. if you want proof of that, try getting on the parking lot of a Red Lobster, Longhorn, etc.. People are still spending money.

Yeah but its not really 8 percent its more like 17 percent and at that rate a lot more dual income households have been affected....On the other side just need to find those that haven't been affected.