Why the insurance industry needs ethical annuity sales people...
Updated: Mar 28, 2019
A wave of ethical producers are rewriting the annuity landscape. How do you ensure you're one of them?
According to a recent study, the sales of fixed indexed annuities are predicted to skyrocket and capture 40% of the annuity market by the year 2023. This says something about the times that are ahead...
Opportunity Is At Your Fingertips
"This modern wave of annuity agents has the potential to rewrite the narrative of the safe money industry."
So often in the safe money industry, the word annuity is usually followed by a sense of speculation and hesitation from potential clients. It's not that they don't trust you as an agent...but in reality, many prospects don't. It's not your fault. Bad agents who product push rather than solution sell are to blame. For years, bad agents have given the annuity industry a black eye by selling high-fee products that often don't provide the best solution. Many agents get discouraged by this fact, but I see it as a HUGE opportunity!
Seize the Moment
I believe this is the golden age for annuity sales. So many potential clients are wary of the current market gains that have been on the rise since 2009 and as a result I see a lot of market speculation in my appointments. With the 4% market drop in 2018, I have many prospects that are ready to move out of risk into safety and security, and the mistakes of past agents are making things simple for me. This is truly the best time to make waves in our industry. Our customers are eager for the products we have and if you operate your business with ethics, honor, and integrity, the road ahead has the potential to be very long and prosperous for you and your family!
Stand Out From Your Competitors
“Your ability to stand out and run your annuity business with excellence will come from your willingness to genuinely put your client's best interests first."
The little things matter in your business, from the way you first present yourself on the first phone call through the follow up after you close the deal. Always remember that the MOST important thing you can do as an annuity agent is be willing to walk away if your products aren't in the best interest of your clients. Making a sale is NOT the end goal, protecting their retirement accounts is! If you can get this in your mind, it will save you a lot of frustrations down the road if clients charge-back a policy. Be thorough. Be excellent. Pay attention to your leave behind kit materials and all of the details within your business. They matter. All of it matters and whether you believe it or not, it's all affecting your sales.
Will You Rise Up Or Settle?
As I said, the market is ripe with business. Will you seize the moment or just keep waiting and hoping for things to magically happen for you? I know I'm going to do everything in my power to capture as much of the annuity market as I can in my region. My clients deserve it. My family deserves it. So many bad agents have come and gone. Will you be one of them? Or will you be one of the agents who produces at elite levels? I wrote $18.7M in personal annuity production last year, not by product pushing but by solution selling. You can do it. Rise up and live the life you deserve to live! Join the wave of agents that is transforming the annuity industry and removing the black eye that past agents have left behind.