The issue of product affordability

September 16, 2013 by Daniel Williams

In National Underwriter’s 2013 Multicultural Markets Research Study, product affordability was cited as the No. 1 challenge for advisors serving the African American (70 percent) and Hispanic (47 percent) markets. (Figure 7) While on the surface, product affordability may appear to be the root cause for the lack of insurance sales in these markets, is it the real reason the markets are underserved or are their other, underlying factors to uncover?

In the study, only 28 percent of agents cited “more affordable products” as something insurance companies could offer to help them more effectively reach multicultural clients. Click here to read…

Originally Posted at LifeHealthPro on September 11, 2013 by Daniel Williams.