24 Feb, 2024
2 mins read

A Presentation for Life insurance Agents in Advanced Markets

In my article “Life Insurance Policy Themes for 2023,” I suggested a tweak in what I called the “discourse” among agents and others in the life insurance business. The tweak was to talk less about why to buy life insurance and more about how to buy it, highlighting the role and value of the agent in that process.

In this article, I’d like to change the venue of that discourse from print to the presentations sponsored by agents’ companies, brokerage firms or other organizations. As I suggested with respect to the print discourse, my premise is that it’s time to move on from “power phrases” to “power processes” and from the value of life insurance to the value proposition of those who sell and service it.

Here are some thoughts about a presentation that would be designed for agents in the advanced markets. The presentation, which could be done in person or virtually, would address many of the issues that agents in those markets are dealing with today and thinking about for tomorrow.

Setting the Stage

You’re a seasoned life insurance agent who works primarily with high-net-worth business owners, executives and families. You get a call from the chairs of the marketing and advanced sales departments at the brokerage firm you work with. They’re interested in presenting a program designed exclusively for agents and presented by agents like you.

As you’re one of the producers in that stage of career and that market focus that the firm wants to reach out to more effectively, they ask for input from you and your study group on how they should design the program and what they should cover . You say to them, “I’m delighted to help. I’ve lost count of how many programs I’ve attended where they promised that some well-known,

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2 mins read

A Life Insurance Agent’s To-Do List for 2023

In my article “Life Insurance Policy Themes for 2023,” I suggested a tweak in what I called the “discourse” among agents and others in the life insurance business. The tweak was to talk less about why to buy life insurance and more about how to buy it, highlighting the role and value of the agent in that process.

I also posed some questions about the new regulatory and practice guidelines on suitability and best interest. I asked whether the guidance would somehow preclude an agent from casting a prospect’s suitability profile in such a way that the profile turned out to be the agent’s, not the prospect’s. I asked whether a carrier’s financial strength would factor into a product’s suitability. I asked whether a service-intensive product sold by a carrier with a poor reputation for policyholder service would be suitable or in the prospect’s best interest. I wondered whether there would be suitability requirements for a marriage between a complex, service-intensive product and a complex, service-intensive planning application. I noted that I would wait to hear what experts say about how the guidance addresses the questions I posed, if it does at all. For the record, I don’t think it will.

Recurring Themes

I’ve received a lot of feedback on that article (and others) from agents, fellow authors and others involved in the business in various ways. Interestingly, the feedback on that article was less about the discourse or the guidance per se than it was about the bigger picture of how the substance of both topics are impacting the business of being a life insurance agent today. Each group voices its own set of interests, concerns and predictions about the future of their business. Their voices are articulate, their comments insightful and their thoughts about the future of

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