Changing Birth Demographics = Life Insurance Sales Opportunities

22 Jan

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A January 2012 report from Demographic Intelligence indicates that the highest boost in the U.S. birth rate is occurring among college-educated women 30 years of age and up.

The study also predicts that insurance businesses and agents ought to advantage from the boost in birth prices amongst an educated and affluent demographic group who – nonetheless feeling uncertain about the stock market place – are seeking for safer lengthy-phrase investment possibilities.

LIMRA, a analysis and consulting firm for the insurance and economic service industries, supports this contention, noting that total sales grew 4 percent in 2011 in new annualized premiums – only the fourth time policy sales have risen in the previous 30 years.

LIMRA expects that in 2012 and 2013, life insurance sales must rise 28 percent. This is in huge part simply because 46 million “Generation Xers” (born 1965-1981) are spearheading the increase in households with young youngsters. In addition, 76 million “Millenials” (born 1982-2000) are now entering their family members years.

Though the economic climate is improving and men and women are acquiring life insurance, they are playing it protected with complete life as an alternative of universal or variable universal coverage. Complete life premiums increased 9 percent in 2011 from 2010, marking the sixth consecutive year of positive growth. Several are turning to complete life simply because it pays higher assured rates of 3 percent – at least two percentage points significantly less than the crediting rate paid on cash value.

“The biggest driver of growth was whole life,” said Ashley Durham, LIMRA’s senior analysis analyst. “It really is the only product to produce positive development in every single of the previous 5 years.”

Assisting Customers Make the Appropriate Decision

Insurance agents need to pay close attention to clientele with expanding families. It’s critical to make these clientele conscious that:

Whole life insurance is a good danger option to the stock industry.
Getting entire life insurance when their children are young gives their investments the greatest time to develop.
Complete life insurance provides households the opportunity to create a nest egg they can tap through a policy loan if essential.

Moreover, agents working with a Managing Basic Agency (MGA) are greatest equipped to take benefit of this and other industry trends – and very best serve their customers – by obtaining access to:

The most current investigation and information to assist them keep “ahead of the game” and develop their businesses.
The correct sales methods to make sure they are properly bringing these opportunities to their clients and selling them via.

10 Responses to “Changing Birth Demographics = Life Insurance Sales Opportunities”

  1. Neil January 15, 2013 at 3:10 pm #

    I’m searching to visit Poultry on December the 28th I’m wondering if any have been to Kemer in Antalya Poultry before around this time around of the year called the weather enjoyable or would you simply not venture out inside it whatsoever right now the elements reaches around 17c without any cloud i have no idea about what is negative and positive with weather however i know its around 7c in England right now. And if anybody has visited the Limak Limra Hotel before would you share some of your family encounters beside me and so i may have heard what to anticipate. Thank You to the help Georgina.

  2. Garnet February 8, 2013 at 11:04 am #

    Milind S. Bhatkar , I am Student

  3. Norris February 24, 2013 at 4:05 pm #

    lets hear some feedback. Considering even the worst insurance companies out there are able to sell term but only 3 have a decent whole life product.

  4. Eliseo March 12, 2013 at 3:54 pm #

    If you think about it logically, if there is a loving, omnipotent god, he would not create hell in the first place, so there would be no need of a savior (especially not one who has to suffer and die, because face it, no loving god would require such cruelty to be appeased).

    And only a dumb god would cause ‘himself’ pain if he can just snap his fingers and save everyone.

  5. Marianela March 25, 2013 at 4:32 am #

    By best i mean:
    High intelligence and education
    Low crime rates
    TRUE freedom
    Low poverty rates
    Low depression/suicide rates

    You get the idea..

    By the way, if you want a source, you’re a big boy. Find it yourself:

    http://www.google.com

  6. Tianna April 19, 2013 at 4:28 am #

    I was talking to a group of people (not from KY or WV) that were furious about the “demographic” remarks made about the people from West Virginia and Kentucky and I was just wondering what everyone else thought. I know that I asked this question in polls but I thought that politics might get a bigger response.

  7. Alfonzo April 24, 2013 at 5:53 pm #

    for example, in Night of the Living Dead the zombies were people that had risen from the dead (which is what a zombie is, someone who has risen from the dead). in movies nowadays, the “zombies” are just people infected with a bad virus (I am legend, 28 days later). Do directors think people rising from the dead would be too cheesy?

  8. Georgette May 21, 2013 at 5:45 am #

    I think it’s because you’re mad that my taste is better…

  9. Tori May 24, 2013 at 6:15 pm #

    It may be a small demographic- but why is it that most people on Yahoo Answers don’t utilize proper spelling (despite spell check), grammar, punctuation and capitalization? Is it just me or would you be way more willing to respond to answers that you don’t need to correct with an imaginary red pen at the least- and decipher at the worst? Is it our schools or society that makes these people think they can be lazy (or dimwitted) with the written word?
    10 points to best answer (if basic language skills are used)

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