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Action Points

Action Points

Action Points in Time of Crisis

Action Points in Time of Crisis

 

The History of Ups and Downs in my 50 Years

- Replacement Era - 1970-1989 - replacing whole life with UL
- The S&L Crisis of the late 1980s
- The Terror Attack of 2001
- Replacement Era comes back to haunt us 2005-2015
- Current lending problem
o Started with the Fair Housing Act of 1970
o Got its steroids in the 1990s with tons of subprime loans

History of Crisis and the Insurance Industry
- 1850-2008
- Sale of permanent life insurance goes up
- Sale of fixed annuities goes up

Current Example
- Fixed annuity sales up dramatically
- Annuity sales were up 54% during the first two quarters of 2008.
- KBI predicts total fixed sales will be up 100% for the year.
- In almost all companies permanent life insurance sales are up.

Action Points for You
- Be proactive. Get in touch with your clients and prospective clients NOW.
- Be positive in your own mind and in your approach.
- Tackle the UL problem by contacting all UL policyholders NOW.
- Convert all term policies NOW.
- Contact all VUL policyholders NOW.
- Talk to people 55 and above NOW.
- Get referred leads by the car loads; it will never be easier.
o Double your interviews per week the balance of the year.
o Increase permanent life insurance sales dramatically.
©The KBI Group - 10/16/08

 

 

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