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OLDWICK - SEPTEMBER 22, 2014 03:57 PM (EDT)
The sixth in a series of special interviews A.M.BestTV is running in September to support Life Insurance Awareness Month is an interview with Kent Sluyter, chief executive officer of individual life insurance and agency distribution at Prudential Financial, Inc., who said insurers and producers must focus on showing that life products can be relevant to consumer needs at multiple life stages.
Sluyter spoke about some of the problems facing the industry today. "The purchase rate for life insurance is at a 50-year low," he said. "It is imperative to change the conversation with insurers and advisers, because obviously we are not reaching either group successfully." Sluyter added that changing the conversation involves emphasizing the other benefits that life insurance can provide. "There are a lot of benefits associated with life insurance beyond death benefits, which we need to emphasis more, such as using life insurance for retirement planning, i.e., supplemental retirement income and for chronic illness ... we need to highlight the importance of living for today and planning for tomorrow."
Click here to view the video program: http://www.ambest.com/v.asp?v=sluyter914.
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