By Rod Rishel, Head of U.S. Life Insurance, AIG
In a recent LIMRA study, 50 percent of middle market consumers said they prefer to buy life insurance face-to-face with a financial professional, while 75 percent said they want an advisor who can educate, listen and develop trust. Clearly, many consumers understand the value of reviewing their needs and potential solutions with the personalized assistance of an agent or advisor.
Even with evolving technology and expanding distribution channels, the role of agents and advisors in helping protect lives cannot be understated. LIMRA research finds that consumers who work with an advisor are more likely to feel more financially secure than those who don’t have an advisor. Yet there still is work for our industry to do to expand access to life insurance.
This is why AIG instituted a program to recognize highly committed financial professionals who positively impact lives even when they are not able to provide face-to-face support. While half of middle market consumers apparently don’t prefer in-person meetings with financial professionals, that doesn’t mean they can’t be served.
The “Top Knight” designation program recognizes AIG Direct agents who have helped at least 2,000 consumers get the life insurance protection they need. At last count, more 90,000 consumers have obtained life insurance coverage from 29 agents through this program.
LIMRA research finds that half of U.S. households believe they don’t have enough life insurance, yet fewer than 25 percent will actually shop for life insurance in the next 12 months. AIG Direct and similar initiatives by other life insurers offer choice to consumers who don’t wish to meet with an agent face-to-face yet want to protect their families’ financial security.
To learn more about AIG’s Top Knight program, please visit: AIG Direct’s YouTube channel.
LIMRA PR welcomes other stories showcasing industry efforts to engage consumers and help them achieve financial security.