Survey Said?

[jdeasy]

99% ? Is it really that high? I was assuming 9 out of 10 white collar (like business owners) do know the difference and that 8 out of 10 blue collar don't.

As for agents isn't that part in the state study manuals? ...and on the test? It's a wonder how some pass...

I would have said 100% but there are some people that know the difference. For people not in this business it's more a matter of not caring than not learning.

I have never run across a prospect that understood the difference and that includes the former insurance agent prospects, {the worst kind of client to have IMO}.

I am an FE agent and this is in the FE forum. I would imagine that agents that deal with a higher end clientele would run across more people educated on insurance.

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[Jerard]

Has it ever occurred to anyone that if all it takes is a 70% score to pass the test, then there are agents out there that didn't understand nearly a third of the material? And they're giving financial advice to people?! (Ok, I didn't make 100% either, which is why I studied more after the test. So, why are some agents still clueless after seeing in print how much they don't know?!)

Old joke: Q) What do you call the student who finished last in medical school?
A) DOCTOR!!

I agree. Knowing the diff between term and WL is about as basic as you can get. It's like not knowing you have to open your fly before you take a leak (after age 3, that is). I myself don't know enough about medsups to be comfortable in selling them that's why I don't sell them. I don't shoot into the dark and hope for the best. I think it's the younger "hot shots" that tend to not put as much value on knowledge as they should and thus, tend to not be careful.
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I would have said 100% but there are some people that know the difference. For people not in this business it's more a matter of not caring than not learning.

I have never run across a prospect that understood the difference and that includes the former insurance agent prospects, {the worst kind of client to have IMO}.

I am an FE agent and this is in the FE forum. I would imagine that agents that deal with a higher end clientele would run across more people educated on insurance.

I guess I should have put this in the non-FE section. The people I'll be talking to will be business owners and on behalf of their employees.

 

[Dragline]

I don.t think they care who doesn't know the difference OR who doesn't have insurance other then themselves and they know that. What would be effective is pointing out the hardship imposed on loved ones when someone dies without life. That hits home. JMHO

Agreed.

The posed question is agent-oriented, the consumer doesnt care.

 

[Norwayguy]

I agree. Knowing the diff between term and WL is about as basic as you can get. It's like not knowing you have to open your fly before you take a leak (after age 3, that is).

Open your fly....Dang it I never knew I could wear the same pair of pants all day that way...Next someone will be telling me to pull my pants down when I take a ****.

 

[Jerard]

Open your fly....Dang it I never knew I could wear the same pair of pants all day that way...Next someone will be telling me to pull my pants down when I take a ****.

As they say..."you never stop learning...."

 

[AdvisorsIns]

I meet with lots of clients for life needs analyses and almost everyone 85% know the fundamental difference between term life and permanent life insurance. They don't know the pros/cons in's/out's But they have a real good idea of the major difference. Even before I was in the business and got married I knew the basic difference.

 

[jdeasy]

I meet with lots of clients for life needs analyses and almost everyone 85% know the fundamental difference between term life and permanent life insurance. They don't know the pros/cons in's/out's But they have a real good idea of the major difference. Even before I was in the business and got married I knew the basic difference.

You obviously are not working the FE market.

 

[TDFnCali]

You obviously are not working the FE market.

^^^ Exactly what I was about to post til I saw you said it already! 85%? Its almost the complete reverse in the FE market....close to 85% DONT know the difference!

 

[AdvisorsIns]

My client base is between the ages of 25-50.