By warren s. hersch
Most life insurance agents expect to do better in 2005 than they did last year. And a majority expects to achieve significantly superior results.
So concludes a survey released this month by LIMRA International, Windsor, Conn. The report, “Producers Optimistic About 2005 Sales,” reveals that of all agents who experienced a disappointing 2004, some 92% believe they will do better in 2005. Of this figure, 60% declare that 2005 will be “much better” for them.
Robert Kerzner, president and CEO of LIMRA International, attributes advisors’ optimism in large measure to a general improvement in the economy.
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“Overall, the economic picture appears brighter,” he says. “That gives a more buoyant feeling to insurance professionals.”
Buttressing Kerzner’s view are the optimism rates by region. In the South, which has enjoyed superior economic performance compared to other parts of the country in recent years, 90% of life insurance agents say they anticipate a better sales year in 2005. That compares with 86%, 82% and 75%, respectively, for the West, the Midwest and the Northeast.
“The Northeast has not recovered as quickly as other regions,” says Kerzner. “So a macroeconomic explanation [for the varying rates] makes sense. As the economy goes, so goes the optimism.”