How Long Do People Keep Policies?

[Meghan28]

I know its been discussed prob a zillion times. But how many years does the average person keep a policy?

Also what is the average age a person takes out a policy?

 

[HoosierLife]

I know its been discussed prob a zillion times. But how many years does the average person keep a policy? Also what is the average age a person takes out a policy?

39.5 years.

And at age 64.

 

[WinoBlues]

I know its been discussed prob a zillion times. But how many years does the average person keep a policy?

Also what is the average age a person takes out a policy?

I door knocked three cases yesterday after my meeting in a town an hour out. 1 was issued in 1995 one in 1994 and another was 1992. The 1995 guy also has a twenty year term issued in 1997. Those are not uncommon for me.

 

[walleye]

I put that ? to 3 different FE carriers and they all said around 11 to 12 yrs

 

[rousemark]

I put that ? to 3 different FE carriers and they all said around 11 to 12 yrs

Considering the age of the average FE buyer, that would mean that a very good portion of the policies are serving their intended purpose by being in force at the time of death.

 

[TPAAgent]

39.5 years.

And at age 64.

Where you gettin' your sample from?

 

[Mavrik]

They keep them until they don't want them any more or until they find a better deal.

 

[Agentguy5]

I know its been discussed prob a zillion times. But how many years does the average person keep a policy?

Also what is the average age a person takes out a policy?

Hey Meghan,

Unfortunately, a LOT of your TYPICAL FE clients won't last very long and will fall off. Seems like the general consensus/AKA Sweet Spot Age for taking out a policy is around 67 years old. I write a lot of business between the age of 50 and 80! If you need help or would like to have an actual discussion about selling FE, feel free to PM me.

Doug

 

[Jerard]

They keep them until they don't want them any more or until they find a better deal.

Or until they die, which, technically, would also cover both situations above.

 

[peteybear]

so these sweet 8-10% renewals are all bs as few people will have the policy 3-5 yrs from now.Right now it looks like med supps and DI are the only products with long term stable renewals