More Companies Selling Life Coverage Direct

[shooter]

Everyone gets tons of spam everyday.
But it seems like over the last month I have
gotten more emails about purchasing life coverage
direct from the company than ever before.

Companies that I haven't seen doing this
before.
Mass Mutual, Met, United of Omaha,and the usual suspects.
Maybe I just haven't been paying attention.

A few thoughts.
Will it exceed sales by agents in the near future?
Will the public embrace it and see the agent as
expendable?
Most emails have been for final expense, GI, or term.
Easier to understand products for sure.

Are these products the same ones they give the agents
and brokers that sell for them?
The public has more options to buy than ever before.
Free enterprise.

How do other producers feel about this tread?

Shooter

 

[NinjaNic]

Some are, some aren't. You will also see ads by carriers, but they are actually being ran by Agencies with sponsored marketing dollars from the carrier being marketed. In short, still using agents. Going to get really sticky over the next few years as carriers and BGAs struggle to survive, let alone agents trying to survive!

 

[LGilmore]

We are a necessary evil to most companies. They use us but they don't like us. Am I surprised by companies selling direct? Not at all. It's just another way for them to gain business. Does it work? Well that is the marketing question that plays itself out over time.

 

[Newby]

Everyone gets tons of spam everyday. But it seems like over the last month I have gotten more emails about purchasing life coverage direct from the company than ever before. Companies that I haven't seen doing this before. Mass Mutual, Met, United of Omaha,and the usual suspects. Maybe I just haven't been paying attention. A few thoughts. Will it exceed sales by agents in the near future? Will the public embrace it and see the agent as expendable? Most emails have been for final expense, GI, or term. Easier to understand products for sure. Are these products the same ones they give the agents and brokers that sell for them? The public has more options to buy than ever before. Free enterprise. How do other producers feel about this tread? Shooter

Aren't those companies just following the very profitable model that New York Life has done for two decades? Sell a substandard health product direct to consumers so the healthy ones buy it by mistake?

NYL added the 5- year renewable term when they saw how much can be made by selling to mail responders.

The theme with all of them is to sell products direct that no one would actually buy if people really understood what they were buying. And they can't offer them through agents because those pesky agents would explain the product flaws.

 

[Robert Barney]

They use us but they don't like us.

Have you ever wondered why?

 

[DHK]

We demand to be paid and some of us actually know what we are doing?

 

[Robert Barney]

We demand to be paid and some of us actually know what we are doing?

And that's why they don't like you?

Are you sure?

Does that make sense?

 

[DHK]

Insurance companies would LOVE to cut out agents and save that cost for themselves.

It sure makes sense to me.

 

[LGilmore]

Have you ever wondered why?

No I don't waste my time worrying about stuff like that Bob.


I'm sure you have an answer for me, but like so many answers you offer up on this forum, they tend to be sort of stupid and uninformed. But go ahead Bob fire away....

 

[DHK]

And that's why they don't like you?

Are you sure?

Does that make sense?

I got a new theory. I must sell too much term insurance! It's just not as good for their revenue so they hate me for it instead of selling more permanent plans.

That HAS to be it.