by Guest » Sat Mar 07, 2009 05:34 pm
Hello quick introduction about me. Recently college grad, job searched for a while with no results. Decided to try selling life insurance as an alternative.
I just got my L&H license and have decided my target market should be young adults like me (college grads, employed, single). I have been reading some articles online, some suggest that buying life insurance at a young age keeps the rate lower. Others suggest since my target market doesn't have real "dependents," insurance shouldn't be a priority. From experience, I know most would rather spend their money on happy hour drinks/going out on the weekend than life insurance.
Anyone with experience selling life insurance to young folks have any tips or suggestions for me? Thanks.
I just got my L&H license and have decided my target market should be young adults like me (college grads, employed, single). I have been reading some articles online, some suggest that buying life insurance at a young age keeps the rate lower. Others suggest since my target market doesn't have real "dependents," insurance shouldn't be a priority. From experience, I know most would rather spend their money on happy hour drinks/going out on the weekend than life insurance.
Anyone with experience selling life insurance to young folks have any tips or suggestions for me? Thanks.
Posted: Sat Mar 07, 2009 08:41 pm Post Subject:
bel08,
Welcome to the business! You are asking the right questions. Rates are lower for young people, and they are more likely to be insurable. If they get a permanent policy when they are young, they won't have to worry about underwriting later in life, when they have medical conditions that keep the underwriters awake at night.
On the other hand, you are going to find it a challenge to convince them that they need it. Young people think they are going to live forever. Most of them do not begin to think about life insurance until they buy a house and/or have children. If you can convince them that they need it, then you can be very successful.
Good luck!
Posted: Mon Mar 09, 2009 03:36 pm Post Subject:
That will be a tough market to crack. Target the same age group, but add in married or with kids.
Posted: Mon Mar 09, 2009 08:42 pm Post Subject:
I am a young adult, and what I would have welcomed in my mailbox is some dental alternatives. Teeth are special, and the best deals aren't always available through the employer. They weren't for me, but I took the route of most convenience in selecting a dental plan.
Also, get ready, when new government programs become available then a a successful market will open up along side with it...
... because I would like to her about the new programs and i doubt I'm going to get an official usHealth letter telling me of all the ways i can save on new programs.
The younger generations have no guilt or hesitation to take advantage of social systems, (I have a friend applying for unemployment right now... never would of thought...) so in the mean time, if you can take advantage of these upcoming social programs an agent then I would.
Posted: Wed Mar 11, 2009 03:09 am Post Subject:
One angle you could use regarding life insurance with a young population with no dependents / spouse is that of a wise investment. It would be very hard to convince a young mind that they need a good term policy, but if you talk about insurance as a wise investment you may get a little more interest...
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