Deciphering Life Insurance Commercials

When looking at today’s life insurance commercials, is it any wonder why many people are frustrated with our industry? One popular commercial advertises very low rates for people with minor conditions such as high blood pressure controlled with medication. At the end, the too-small-to-read disclaimer flashes on the screen for a span-of-time-too-short-to-read or, if it is on the radio, the auctioneer lawyer sprays the audience with the required CYA word salad.

What does it say? Well, it normally says something like “this quote is based on a 10 year term policy at preferred best rates. Results not typical”…or something. All so they can say, “hey, we told you” if something goes wrong.

Life Insurance Agents

As a career agent, I know that many (most?) Americans don’t know what a “10 year term” is (not to mention “preferred best”). Many people I sit with really are not sure at all about the difference between whole life and term life insurance. So, the company successfully covers their derriere and the average American consumer is still clueless. Isn’t that wonderful? The consumer calls, applies for coverage and often gets something very different than the commercial pitches, leaving the new customer uneasy and wondering if they had done the right thing.

When you add to the fact that many life insurance agents today have almost as little understanding of their own life insurance products, it gives some idea as to why Americans are not all that hot to shop for life insurance. It is a shame because life insurance is truly a miracle product when explained by someone who understands its many uses and features.

We, as an industry, need to help educated agents embed themselves in communities to service their neighbors. The days of the “one and done” sale are coming to a close. Life Insurance was never intended to be a single event with no follow up type of sale. It is time to go back to our roots and service our clients who are protecting their families.

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