Finding high quality annuity prospects in today’s market will require that you think out of the box. The face of annuity prospects has changed significantly over the past few years therefore changing the way in which agents must prospect for leads.
This investment option was once almost exclusive to the wealthy upper class, but now more and more middle class wage earners are interested in investing in an annuity.
The main reason in this sudden shift is due to the recent news about Social Security.
Many future retirees were counting on Social Security to provide them with enough money to cover their monthly living expenses. As the future of this government sponsored program remains uncertain, many up and coming retirees have concerns about their monthly expenses.
This widespread concern has breathed new life into annuities and introduced average investors to an option that they may have never even known existed. An adept agent will embrace this trend and welcome all annuity prospects in to find out more information.
A number of middle class investors look into annuities after they receive some type of inheritance in a lump sum or win a lump sum of money. This is an opportune time to use that money to add to your retirement portfolio.
If you are looking to attract prospects, you are going to have to change the way in which you have been looking for them. You can not just wait for the elite upper class to come knocking at your door to purchase a million dollar annuity. You will have to adjust your selling strategy to appeal to a wider range of investors.
In today’s market you can not afford to cut out the little guy. Even lower wage earners have built up substantial savings in company sponsored retirement accounts. If they choose to roll these accounts over into annuity accounts when they do retire there are still substantial commissions to be made.
The bottom line is that agents can not afford to exclude anyone of any demographics when they are prospecting for leads. Many people are becoming more interested in annuities because of their unique investment features.
As an agent you must learn to accommodate the needs of an evolving clientele. You may not be earning the top dollar commissions that you were before, but if you sell several annuities you can still make an equivalent amount in the volume of sales.
