When it comes to the most profitable leads for insurance agents, they tend to be related to life insurance, a new study suggests.
The report, which was carried out by marketing advisory firm Eastbridge Consulting, queried a nationwide sample of insurance professionals, asking them to determine which product lines their companies offered that they considered to be the biggest income earners. Approximately 45 percent pointed to accidental death and disability coverage as "very profitable," followed by universal and whole life in second and term life a distant third.
Bonnie Brazell, vice president of the financial services organization, noted that many agents didn't think it was as profitable as it could be or has been in past years.
"Although these products received the highest percentage rating them as very profitable, most carriers surveyed actually classified their products as having average profitability," said Brazell.
As for which voluntary product offerings were considered to be the least profitable, these included dental, vision and critical illness insurance, the study revealed.