Traditional product sales will expand: I think we will see the flight to more traditional products, especially UL.

–Jack Dewald, Agency Services, Inc., Memphis

More ULs with long-term death benefit guarantees will debut. Many will endow at 100 but extend the death benefit, with no cost of insurance charges, out to age 120. People definitely think they are going to live to 100.

–Eric Marcus, Marcus Agency, Sudbury, Mass.

Critical illness and LTC insurance sales will grow. These will be tremendous growth products for the industry in the next few years. As baby boomers near retirement, they will want to find ways to care for their parents and also to protect their lifestyle.

–James R. Gelder, ING, Minneapolis

EIA sales will grow dramatically. Consumers who suffered big stock market losses in 2001 will see EIAs as a safer alternative. Stock market volatility, if it continues, will favor this trend even more. So will the aging of baby boomers and the longevity of the World War II generation.

–Patrick Foley, Allianz Marketing, Inc., Minneapolis

DI carriers will try to make DI easier to understand and sell. Carriers say theyre committed to this, so 2002 could be a good year for DI.

–Brad Parks, Disability Income Advisor and Consumer Association, Dubuque, Ia.

Variable immediate annuities will remain on the radar screen. Annuity companies agree the market opportunity for VIAs, and for annuitization solutions, is substantial, so interest in meeting these needs will continue. However, we wont see many innovations until the economy improves.

–Borden Ayers, The Diversified Services Group, Wayne, Pa.

Hunger For Financial Advice Will Increase. People with 401(k)s and other investments will need a road map on how to reassess their allocations, set new goals, etc. Be proactive in thisIt will come back to you in new sales, referrals, and the reputation you get (that youre a quality agent, not a product pusher).

–David Behrens, American National, Houston


Reproduced from National Underwriter Life & Health/Financial Services Edition, December 24, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.


Copyright 2001 by The National Underwriter Company. All rights reserved. Contact Webmaster