Reaching out to clients good move for agents

Posted on: Thursday, December 15, 2011

A new study indicates that it may be in agents' best interest to get in touch with their insurance leads even after they've made a sale.

According to LIMRA, retirees and pre-retirees who were contacted by their retirement plan provider around the time they left their jobs for good were more than twice as likely to keep their retirement plan assets with the provider.

"With more than $400 billion per year rolling out of employer-sponsored retirement plans and into IRAs, plan providers are looking for ways to keep these assets under management," said Matthew Drinkwater, associate managing director of LIMRA Retirement Research. "Our study found participants who are contacted around the time that they retire or leave their employer were much more likely to retain their money in their employer-sponsored plan account."

Other factors that have an influence in whether someone stays with their plan, according to the study, include what line of work they were in prior to retirement and how long they've been contributing to their defined-contribution plans.

As this study indicates, it always pays off for insurance agents to follow up with their clients.

Posted In: Insurance News, Marketing & Advertising

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