Archive for the ‘Association Group Insurance’ Category

October 1, 2013 starts open enrollment for the new health insurance offerings under ACA.  The general public is still very confused by what this all means to them, if they are part of a small group or have private insurance.  A recent Survey indicates 86% of those surveyed had no idea about the Metallic plan offerings. Agents in this space have an opportunity to play a role in education, however, at a much lower compensation level.  It will however open opportunity for ancillary converges.  What are you doing in anticipation of the ACA implementation? Partnering with an Exchange?  Forming your own Exchange?

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I found this recent study conducted by Mass Mutual and The American College,  which in my opinion validates what many of us in the Voluntary Disability market have asserted for years: employer provided LTD often leaves tremendous gaps in disability protection. I believe this provides a great opportunity  for those of us engaged in marketing and selling Voluntary Disability Income insurance to individual professionals.   One strategy is to segment your database and create a specific marketing and sales campaign to address the needs of those individuals.  In this case, it is prospective customers who can be identified as part of  an organization with 10 or more employees (usual threshold for employer sponsored LTD).  Pieces designed to speak  to the need of buying supplemental coverage to fill the gaps in their employer provided LTD plan, can be a very effective way to reach prospective customers who may have the  mis-perception that they already have enough coverage in-force.  Multiple copy splits in any sales and marketing campaign is very important, as a one size fits all approach often falls short due to all the various needs and situations of each of the recipients.

We would like to hear from you with your comments and experiences regarding multiple marketing and sales approaches in the Voluntary Disability Income insurance market.

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A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty-Winston Churchill

George Bode recently published excerpts from a recent LIMRA report  which surveyed executives at leading insurance companies, which at first glance does not look very promising.

But as marketers of life insurance products through the association / affinity channel, the news may not be as dire.  The middle market and bank market has continued to grow and the majority of those surveyed felt this trend will continue.  The challenge for marketers is how to reach that middle market, particularly in a direct response model.  Organizations that cater to this market are prime candidates for business relationships.

We would like to hear from you: what market segments are you finding success with life insurance sales and what products are most successful?

A business like an automobile, has to be driven, in order to get results-B.C. Forbes

George Bode

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