Corona and agency layoffs
- Thread starter Beachguy
- Start date
- 5,262
Time to diversify into the senior market where folks get paid no matter what.
- Thread starter
- #3
- 5,262
First, as long as the government functions, seniors will continue receiving their Social Security and Disability benefits. They are a multi-million person voting block and screwing with what's theirs spells certain doom to any politician's career.
The obvious advantage to insurance agents is that guaranteed income means less susceptibility to lapsing because of job loss. Sure, they don't have as much to spend, but economic swings don't make nearly a negative effect.
Second, seniors are going through a multitude of life events that prompt insurance purchases.
For example, 10,000+ seniors daily are turning 65 for the next few decades. The vast majority will purchase a Medicare Supplement or enroll in Medicare Advantage.
Also, many seniors are retiring with less than they need, and are concerned about their nest egg being at risk to stock market fluctuations out of control. Life insurance and annuities provide peace of mind and answers to both of those concerns.
Unless SHTF, these are fundamental principles that will NOT change when the economy collapses. While you'll see a reduction in insurance sales to employees, employers, and working people, you'll continue to see steady sales to seniors in life insurance, health insurance, and annuities. It happened before during the Great Recession and will happen again.
The obvious advantage to insurance agents is that guaranteed income means less susceptibility to lapsing because of job loss. Sure, they don't have as much to spend, but economic swings don't make nearly a negative effect.
Second, seniors are going through a multitude of life events that prompt insurance purchases.
For example, 10,000+ seniors daily are turning 65 for the next few decades. The vast majority will purchase a Medicare Supplement or enroll in Medicare Advantage.
Also, many seniors are retiring with less than they need, and are concerned about their nest egg being at risk to stock market fluctuations out of control. Life insurance and annuities provide peace of mind and answers to both of those concerns.
Unless SHTF, these are fundamental principles that will NOT change when the economy collapses. While you'll see a reduction in insurance sales to employees, employers, and working people, you'll continue to see steady sales to seniors in life insurance, health insurance, and annuities. It happened before during the Great Recession and will happen again.
- Thread starter
- #5
- 5,296
Who told you that? Where are you getting your information? I am very interested in facts, not fear mongering. If you have hard facts, interviews from economists, etc. I am interested in that. If you have vague feelings based on no hard evidence, you should keep them to yourself. It's because of vague comments like that with no basis that I have to carry mace to the grocery store, and I can't find the food I normally like to buy.
That's a ridiculous question. Is that even a real question? When you can pay them, or forsee a way to pay them in the near future. This will likely put us into a recession which we are over due for. If you aren't prepared for your business to take a hit, you shouldn't be in business. I specifically built my book to best withstand the next recession.
Yes, I am thinking about the hysteria, and how to leverage it. My father is 82, an ex smoker, and at risk. This could kill him. Honestly, at 82 with a previous heart attack, so could a flight of stairs or a scary movie. I am thinking plenty of how to leverage this, and less about the threat of a bad flu.
- 6,473
welcome to the real world
- Thread starter
- #8
I have been watching this virus since mid January. The media is causing the chaos and fear along with the secretive fashion that China passes information. That secrecy allowed it to get out of control, the media is now causing a panic. School closings are unprecedented, northern Italy and Israel are under forced quarantine, I would be foolish to assume that the united states is immune to similar action. My post was clearly stated as a very real possibility, not a certainty. I am in the insurance business and I like to have a plan for any exposure. Its what we do.
- 5,296
Fine. I'll answer your question as if it was real.
No there isn't. Even if there is a quarantine, that doesn't mean the economy stops.
When real facts and information and economics force you to. Not when hype and scary noises on tv make you fearful.
Yes, I am thinking about the hysteria that's much higher than the scarier h1n1, swine flu, sars, zika, measles and ebola outbreaks.
No there isn't. Even if there is a quarantine, that doesn't mean the economy stops.
When real facts and information and economics force you to. Not when hype and scary noises on tv make you fearful.
Yes, I am thinking about the hysteria that's much higher than the scarier h1n1, swine flu, sars, zika, measles and ebola outbreaks.
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Last I checked, everything is closed. And walmart does not = economy. Profit margin on TP is minimal.
Trillions from the fed makes an over debted market ...even worse. Industry bailouts coming. Self quarantining will be the new trend for 2 to 3 months.
Just wait until you pay your bank to hold your money when rates go negative.
Job loss will be huge, which means more ACA health insurance needed. Seniors market is my backbone.
Trillions from the fed makes an over debted market ...even worse. Industry bailouts coming. Self quarantining will be the new trend for 2 to 3 months.
Just wait until you pay your bank to hold your money when rates go negative.
Job loss will be huge, which means more ACA health insurance needed. Seniors market is my backbone.
