Regarding Irreplaceable Life

To The Editor:

I enjoyed Michael Pinkans Dec. 23/30 article, especially the last paragraph. Irreplaceable Life would be great, just what the industry needs.

But, we must remember that life insurance is sold by agent/advisors. It is not sold and retained in any substantial quantity by direct mail, 800 phone lines, radio talk shows, TV infomercials, Internet Web sites, department store kiosks or insurance desks.

As Pinkans correctly points out, “Prospects have to be turned into clients. No product evolution will ever change that value proposition.”

The purpose of advertising is to attract or retain the customer and provide a call to action. Why then do life insurance companies advertise on Super Bowl Sunday, as if some football fan will become so motivated that at half time he will leap from his chair and call a life insurance company and ask for instant coverage. The agent is the customer of the company, not the purchaser.

It makes sense for a company to advertise its financial strength, services and superior product in a publication like National Underwriter or others read by advisors. It makes no sense to pour millions into general consumer media. That money would be far better spent improving the product or training the agents and equipping them with the sales tools to provide quality professional service. Wouldnt it be great if we also had more “Irreplaceable Agents!”

Ed Morrow, CLU, ChFC, CFP, RFC

Financial Planning Consultants Inc.
Middletown, Ohio


Reproduced from National Underwriter Life & Health/Financial Services Edition, January 27, 2003. Copyright 2003 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.