you are using to measure success.
What inspired you to do this?
NAIFA: What legislative or regulatory
issues are you currently keeping an
Stroble: We have an opportunity to
double the size of our insurance in
force in this decade. We’re at $92.5
billion of life insurance in force, with
a corporate goal of achieving $100
billion of life insurance by the end
of 2010. We installed the monitor to
engage our employees. We work as a
team and we want our fine employees
to monitor the progress we are making each day toward achieving our
goal. We don’t know if we’re going to
reach the goal but we think we will.
We also include on the monitor the
amount of death benefits paid every
day. This serves as a reminder of why
we are in business.
Stroble: Our federal government and
many state governments have deficits
and some elected officials view life
insurance companies as a source of
revenue. We are concerned about any
attempts to tax the inside build-up of
cash values in permanent life insurance. Doing so would destroy the
market for whole life insurance.
There has been much discussion
about the optional federal charter vs.
state regulation. Everyone has their
own opinion about which is better.
Our company operates in 10 states
and we feel that these state insurance departments provide appropriate
Stroble: That’s why it is so very important that companies and producers
support NAIFA. Our company certainly
does. I am proud of the fact that approximately 45 percent of our 4,200
agents are members of NAIFA, with
many in local leadership positions.
NAIFA: As many people flee the mar-
ket because of the economic turmoil,
how should agents initiate financial
conversations with their clients?
“Studies show that producers who are NAIFA members earn substantially
Stroble: As indicated previously, we
are asking our agents to perform
insurance reviews with their clients.
Many people have suffered substantial losses in the economic downturn,
whether it is with equities, homeown-er values, etc. We want our agents to
determine the needs of their customers and help them meet their goals.
NAIFA: How can NAIFA best help
agents make the most of the oppor-
tunities available right now?
more income than those who are not
NAIFA: With the current economic
turbulence, are there any products
that are particularly appealing to
consumers or are creating a lot of
traction in the marketplace?
regulation for both the buying public
and our company; so we prefer state
regulation. Many large companies
that operate across the nation will
certainly opt for federal charter. We
wish them well.
Stroble: For the most part, we’ve
always sold a significant amount of
permanent whole life insurance. We
are selling a bit more term insurance
these days. With all that’s going on in
our economy, many people are interested in talking to professional agents
about their financial needs and want
to talk to someone they can trust. We
are encouraging our agents to go out
and see their clients, do insurance
reviews and make sure their clients
have their life insurance, retirement
income and long-term-care needs
met. The products they recommend
must be suitable and appropriate.
Stroble: The educational opportunities
that NAIFA provides to professional
agents must be continued. NAIFA must
also continue to be a strong voice on
Capitol Hill and in the state houses.
NAIFA’s mission is very important,
and that is why our company and our
agency force support the organization.
Our own studies, as well as national
studies, clearly indicate that producers
who are NAIFA members earn substantially more income than those who are
not NAIFA members.
NAIFA: You talked about the risk of
some states needing more revenue
and going after the tax incentives
of whole life insurance. This happened recently in Oregon, where a
bill was introduced to do just that.
We activated the NAIFA grassroots
and pounced on that issue. Because
of the strength of our response, even
the guy who introduced the bill said
he wouldn’t vote for it if it came up
for a vote because he now understands that it is not a good idea
since it does not serve the interest
NAIFA: What three things would you
like our readers to take away from
Stroble: They need to realize the
importance of the job they have in
society. Serving others is the highest
calling one can have. Secondly, with
such responsibility, agents need to be
as well educated as possible as regards
to the products and services they
are offering. And finally, it is always
essential to put their clients’ interest
ahead of their own. ;