Check and see if any of the states in your insurance marketing territory are listed here. These are great insurance product marketing states to enhance your sales. State rankings are provided for the 11th through 21st state along with a recap listing of the first ten.
TENNESSEE, Rating = 11 Tennessee is not considered a rich state by any means. However, it holds a solid reputation as a solid insurance marketing territory. Here long time recruiting operations are as totally committed to mailing Tennessee brokers, as are music collectors totally committed to collecting Elvis memorabilia. What really helps split up the competition is that the state is divided up into three major metropolitan areas, Nashville and Memphis, followed by Knoxville. We mentioned before, how this factor helps to significantly lower total recruiting competition. In addition, the wide diversity for annuity, life, financial, health, group, and senior products offers all product marketing firms an opportunity.
OREGON, Rating = 12 This an all round very good state to market your insurance products. Examining almost every statistical figure points out Oregon is within close range of the national “average” state. This includes the income level, the percentage of senior residents, the number of agents per thousand residents, and the amount of insurance marketing competition. The agent retention rate, and average number of years of agent experience correlate correctly. The response received back from insurance marketing firms contacting the quality agents has been favorable, and the response rate from agents has been slightly above normal. It is these two last, yet very critical recruiting factors that place Oregon significantly ahead of the middle of the pack.
ALABAMA, Rating = 13 Sweet home Alabama, where the skies are so blue, and the recruiters are too few. Alabama has an exceptionally good mix of agents, meaning independent agents, career agents that broker business, and multi-line small agencies that brokers with insurance marketers their life and health business. There is far less recruiting demand than expected. The lower competition pressure mixed with the pleasant response from those who using refined lists to recruit in Alabama, places a well deserved, lucky 13, rating.
KENTUCKY, Rating = 14 You way find the blue hills of Kentucky beautiful, along with the green pockets of Kentucky agent product recruiters. Kentucky has a fairly similar mixture of agents to Alabama. Although here in Kentucky, there exists a heavier concentration of career life agencies. The competition search for recruiting experienced agents to sell products, is just above normal, yet the response feedback from insurance marketing organizations ranks as being very good.
ARKANSAS, Rating = 15 Arkansas is ranked the ninth highest state for its rising senior population, and reasonable retirement housing and living costs. This makes it a must state for insurance marketing recruiters of senior market agents to sell ltc, long term care, medicare supplements part B and D, final expense, and some annuity products. However, here is a drawback for some insurance recruiters. This is a state where it is much harder to sell high premium, sophisticated annuity and life retirement/invest plans. Arkansas lends itself to a rural and small business atmosphere, starting just outside Little Rock city limits and extending throughout the entire state. As it is a low-income state, major life insurance career agencies have focused elsewhere. This leaves many semi-captive agents, independent agents, brokers, and PPGA producers. Moreover, it is a very good state also for marketing medical plans, small group, term, universal life, and family life products.
KANSAS If you have a limited recruiting budget, stay out of Kansas City, Kansas. This area has too many career life agencies. and lower agent retention. Unknown Fact revealed: a state or area of a state with a high concentration of career life agents averages a 5% to 20% lower retention of maintaining The remainder of the state, has agents of the caliber that are much more likely to show an interest in your insurance product or give brokers an opportunity. Kansas holds the 21st position for median family income, plus a senior population equal to the state average. For you, a recruiter, it means you have a vast variety of products for brokers to sell. Products ranging from variable indexed annuities, to long-term care, to universal life, all have their marketplace in Kansas. To these advantages, add good feedback response from other marketers and a lower that capacity demand for recruitment advertisements.
MISSISSIPPI, Rating = 17 For the current time we are keeping Mississippi in this ranking position. .Earning the distinction of currently being the state with the lowest median family income, does not help .This means it is a poor state to market annuity products, while lower cost health and life products thrive. Overdue modernization and a favorable business tax environment will eventually drive up the housing market and associated contracting and building occupation incomes. Local and regional recruiters know that outside areas are not feeling the effects; in fact, some are benefiting from higher quality that normal. Staying out of main town New Orleans is smart, while staying out of Mississippi is not.
OKLAHOMA, Rating = 18 Oklahoma is more than just an “OK” state. It may surprise you that most of the lower income states, have a higher than average rating. Why? Over the last 10 years, larger career life companies, especially those based in the high-income Northeastern/New England states have pulled out almost all their agencies in lower income areas. Why So? A Large career life company wants to get the agents off and running appointments with higher income products. They look for lots of possible clients that can afford high premium life and investment plans. In a low-income state, finding people with this profile is not feasible. For the number of Oklahoma agents willing to broker business, recruiters have overlooked the state far too often. Other than high premium or complex annuities, the state is wide open for business.
NEBRASKA, Rating = 19 Nebraska is not only home to the Cornhuskers. It is also the home of major health insurance companies, like Mutual of Omaha, World, Medico, and others. Although the senior population is slightly above normal, these home base insurers have quite a monopoly of senior related products. Their agent direction has widely changed however to being much less captive than before. This means the brokerage agents in Nebraska are still not very open to non-senior, blue-collar disability, and medical plans. The average family median income is above 28 states. This opens up good premium opportunities for brokers offered variable life, universal life, term, small group, worksite benefits, and annuity plans to sell their clients.
UTAH, Rating = 20 No every man does not have 6 wives, and 20 children. Therefore, it is not selling family life, and family medical policies that place Utah so high up in the rankings. Instead, it is the wide mixture of clients, especially outside the Salt Lake City area. The influx of agents moving from Nevada and Colorado to Utah is worth noting. The market for all types of life, annuity, and health products is very strong. There are a sufficient number of brokerage agents to make your mailing worthwhile.
In case you are wondering here is a recap of the first 10 rated states Florida, Texas, California, Ohio, Georgia, Wisconsin, Minnesota, North Carolina, Michigan, and Missouri with the #10 state ranking.