Life Insurance As A Focus?

[RFG]

You know there is a lot of talk around niche markets and focus in this business but my question is how many of us focus on Life Ins. I think I do about 70% Life and 25% Annuities. The rest everything else. Is that par for the course for you guys? or am I off base.

 

[AlexOthelionel]

You know there is a lot of talk around niche markets and focus in this business but my question is how many of us focus on Life Ins. I think I do about 70% Life and 25% Annuities. The rest everything else. Is that par for the course for you guys? or am I off base.

Hello. I'm close to that but I focused more on car insurance for the last few months. I don't believe you're far off at all!

 

[Rearden]

You know there is a lot of talk around niche markets and focus in this business but my question is how many of us focus on Life Ins. I think I do about 70% Life and 25% Annuities. The rest everything else. Is that par for the course for you guys? or am I off base.

99% Simplified Issue Life Insurance, 1% Medicare Supplements.

 

[RFG]

Very interesting. A lot of folks I know are moving towards the Assets under management crowd. Makes you question sometime am I on the right side of the business. However, and this may sound crazy but I just really like Life Ins.

 

[Ahofmann]

RFG, I just recently started using this forum and this post caught my attention. I have definitely found there to have been a significant shift in focus to managed money both with our captive agents and independents.

 

[BNTRS]

There's certainly little doubt that you can have an easier go of making more money under the AUM model. Less resistance, and you need little more than a system that spits out pretty graphs and the probability of your clients looking to go elsewhere is low.

However, the robo-advisor advent is starting to make the AUM folks sweat a bit. You need to add value for that fee you take from their account, and a lot of people in the AUM world don't.

I personally think you are wasting your time thinking about what side of the industry you should be on. Do what you have a passion for and do it with as much excellence as you possibly can. If you do that, you'll do well.

 

[Cash]

There's certainly little doubt that you can have an easier go of making more money under the AUM model. Less resistance, and you need little more than a system that spits out pretty graphs and the probability of your clients looking to go elsewhere is low.

However, the robo-advisor advent is starting to make the AUM folks sweat a bit. You need to add value for that fee you take from their account, and a lot of people in the AUM world don't.

I personally think you are wasting your time thinking about what side of the industry you should be on. Do what you have a passion for and do it with as much excellence as you possibly can. If you do that, you'll do well.

I liked your post on the Robo Advisor. It was spot on.

 

[RFG]

Been thinking the same way. I am just at one of those points in my life/career. Thanks for the Clarity

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There's certainly little doubt that you can have an easier go of making more money under the AUM model. Less resistance, and you need little more than a system that spits out pretty graphs and the probability of your clients looking to go elsewhere is low.

However, the robo-advisor advent is starting to make the AUM folks sweat a bit. You need to add value for that fee you take from their account, and a lot of people in the AUM world don't.

I personally think you are wasting your time thinking about what side of the industry you should be on. Do what you have a passion for and do it with as much excellence as you possibly can. If you do that, you'll do well.

Nice post. On the subject of Life to other lines of business whats your percentage?

 

[Agentguy5]

You know there is a lot of talk around niche markets and focus in this business but my question is how many of us focus on Life Ins. I think I do about 70% Life and 25% Annuities. The rest everything else. Is that par for the course for you guys? or am I off base.

100% Final Expense

If they want something else, I refer it out!

 

[waterwheel]

100% Final Expense

If they want something else, I refer it out!

Exactly what I do.

For life insurance, I'm an industry expert. I can confidently say that for most of my clients, I'm the best person they should be dealing with.

Unless you wander away from life insurance, DI or CI. Then while I may have reasonable knowledge and even some experience, I'm not a foremost expert - so I point them to the person that is the foremost expert.

Nevertheless there is quite a bit of value in having more than one line of business with clients. I've spent some time this year trying to figure out what those other areas are, and to date haven't found any. I've never found a seg fund I believe in, don't want the regulatory oversight of investment products, so still pondering.

I'm working on a database that will allow us to mine our existing clients in a standardized fashion, and I'd like to use it to sell my existing clients more stuff. Just don't know what that stuff is yet.