Over the past 10 years, one common source of new business for producers has been the replacement sale. But in the last few years, the industry has seen fewer and fewer of these sales due to a combination of changes in products, historically low interest rates and product pricing changes.
But, there is a potential renaissance afoot for life insurance replacement sales in the current market due to a handful of primary reasons:
- People experiencing change in their circumstances
- Mortality improvements (particularly for males)
- Changes in medical treatments
- Innovations in pharmaceuticals
- New insurance products with a focus on living benefits
Fill out the form below to download our Case Study on the Renaissance for Replacement Sales in Life Insurance to learn more about the new replacement sale opportunity for life insurance.