Just-released FE Sales Data Shows 5% Premium Increase in 2015

[Brian Anderson]

Final expense premium increased 5% and policy count rose 4% in 2015 according data released today by the Life Insurers Council, CSG Actuarial, Inc. and Competiscan, which also showed 60% of policies were sold to women and the average age of final expense buyers was 63.

Story has more stats; just curious as to how they align with your experience – 60% of policies sold to women; average age 63, etc.?

Insurance Forums | Final Expense premium increases 5% in 2015; 80% of policies sold by independents

 

[goillini52]

Final expense premium increased 5% and policy count rose 4% in 2015 according data released today by the Life Insurers Council, CSG Actuarial, Inc. and Competiscan, which also showed 60% of policies were sold to women and the average age of final expense buyers was 63.

Story has more stats; just curious as to how they align with your experience – 60% of policies sold to women; average age 63, etc.?

Insurance Forums | Final Expense premium increases 5% in 2015; 80% of policies sold by independents

If they can tell us all of that, you'd think they could show us a ranking of companies by AP, policies sold, etc. I get tired of Obi and his peeps saying LH is #1 without any proof.

 

[rousemark]

If they can tell us all of that, you'd think they could show us a ranking of companies by AP, policies sold, etc. I get tired of Obi and his peeps saying LH is #1 without any proof.

They may well be. But the article said that only 18% of total sales were made by LH type operations. So in the grand scheme of things LH would only count for a very portion of the total.

 

[goillini52]

They may well be. But the article said that only 18% of total sales were made by LH type operations. So in the grand scheme of things LH would only count for a very portion of the total.

Yep, just as in politics, there are many ways you can spin info and "facts".

 

[Glen Shelton]

I find it interesting that it was a 60/40 split women to men.

I get a TON of requests for women only leads which I do NOT offer.

While women might give you a little better chance of closing ... You would be missing out on almost half of the business

 

[agentinsure]

If they can tell us all of that, you'd think they could show us a ranking of companies by AP, policies sold, etc. I get tired of Obi and his peeps saying LH is #1 without any proof.

Great idea and than I realized perhaps they assured the respondents they would not post such to encourage a response from those who aren't producing as much as they claim or little at all

 

[rousemark]

I find it interesting that it was a 60/40 split women to men.

I get a TON of requests for women only leads which I do NOT offer.

While women might give you a little better chance of closing ... You would be missing out on almost half of the business

It is not a question of missing out on half the business. It is a question of concentrating on the half that is most profitable. If you can only work 8 leads per day and you can get that many women only every day and close 6 of them, why bother getting 8 male leads and closing only 4 of them?.

 

[Glen Shelton]

It is not a question of missing out on half the business. It is a question of concentrating on the half that is most profitable. If you can only work 8 leads per day and you can get that many women only every day and close 6 of them, why bother getting 8 male leads and closing only 4 of them?.

I have sold plenty of policies to single men.

I just think it's a missed opportunity.

Premiums tend to be a little higher with men.

Edit: I get it though, the grandma's who actually CARE about their families are an easier sale!

 

[AboutThatLife]

It is not a question of missing out on half the business. It is a question of concentrating on the half that is most profitable. If you can only work 8 leads per day and you can get that many women only every day and close 6 of them, why bother getting 8 male leads and closing only 4 of them?.

The correct numbers are 5 women and 3 men.

 

[Newby]

Do you guys realize that each age past 60 has increasing % of females to males? So if every living senior bought a policy it would be about a 65 % female to 45% male ratio.