Gary Bleetstein, Senior Vice President
I have been in the life business for over 30 years and have never seen the situation the way it is today.
Carriers are increasing rates, reducing death benefits or not even entertaining applications at older ages, and auto mated underwriting appears to be in our near future for cases under age 60 and face amounts in the 3-5 million range.
We have state insurance departments extending the premium paying dates for up to 90 days, with or without financial justification, and carriers are removing certain products as a result of both covid-19 and zero interest rates.
But there is some good news to report:
- People are still asking about buying life insurance.
- The Life Insurance Industry stayed alive even after the two world wars and the 1918 flu virus.
- Our industry is nimble and has found ways to overcome some required medical requirements via auto underwriting and some good logical thinking, using aps client portals.
- While the markets may have tanked, some people still have estate and other planning needs- especially now.
- For larger cases- some clients are still willing to be examined under the correct circumstances.
Agent Support Group- an AmeriLife Company is in business and here to stay and serve our advisors and their clients from submission to commission.
We have great technology, great underwriting and sales programs, but most important, we have great people who work for us. ASG is proud of each and every one of our employees who work every day to make your lives easier and we applaud their work and work ethic.
Together, we will wind this battle, win this war and continue to move forward in the financial services business.