LIFE INSURANCE
WHAT'S GOING ON IN TODAY'S LIFE INDUSTRY?
View From the Top
Compiled by VICTORIA ALEXANDER
W
hat’s going on in today’s life insurance market? That’s what we wanted to know. California Broker invited a handful of life insurance pros to answer our questions. Get their perspectives on how product mixes have changed, the current hot niche markets, how health care turmoil is impacting life insurance and much more.
A very special thank you to the following participants: T. J. Gustafson, managing director, San Francisco/Hawaii, UNUM. Thomas H. Harris, executive vice president, distribution, Penn Mutual. Ben Nevejans, president, LifePro Financial Services, Inc. Terence Ryan, director of market development, San Francisco/Hawaii, UNUM. Chris Della Sala, territory sales manager, Southern California, Colonial Life. Stephanie Shields, vice president of product development and management, Aflac. Chad Tope, President, annuities and individual life distribution, Voya Financial.
Now, without further ado, read on for the 2017 View From The Top…
Has there been a significant change in product mix over the past 12 months in terms of guarantees, variable or term? T. J. Gustafson, managing director, San Francisco/Hawaii, UNUM: The product mix has changed to include more voluntary group term and whole life. Due in part to the growth of enrollment technology and benefit administration platforms, we’re now able to reach employees and customers on the smaller end of the market. Thomas H. Harris, executive vice president, distribution, Penn Mutual: We’ve seen a continued shift toward accumulation products like whole life and indexed universal life that also provide guarantees. Term has remained steady, with less emphasis on guaranteed universal life. Ben Nevejans, president, LifePro Financial Services, Inc.: Our product mix continues to be dominated by cash accumulation indexed universal life insurance. With the prevailing uncertainty in the economy, political environ-
36 | CALIFORNIA BROKER
- CalBrokerMag.com -
SEPTEMBER 20177