Economy Affects Climate for Life Insurance Sales Leads

Agents working to develop more life insurance sales leads have been strained in the current economy, but they can still be optimistic about the industry's future, notes one of its leaders.

At the recent annual meeting of LIMRA, a leading life insurance industry organization, CEO Robert Kerzner acknowledged a competitive climate and other factors like risk and capital distribution, which have become more pronounced during the recession.

Kerzner cited lifetime income as one emerging niche in the industry to be actually encouraged by the current economic conditions. He also noted that between 2004 and 2007, the number of independent producers dropped 7 percent, the first reduction of its kind.

"The good news is insurance sales are trending upward and consumers' confidence in us is slowly rebounding," he said.

The recession has had various effects on the industry, but agents who focus on service and remain well informed about new trends in the industry while pursuing life insurance sales leads as usual should be positioned to benefit as the economy improves.