You can check to see if any states within your insurance territory are included here. These states are excellent for marketing insurance products and can help you increase your sales. The state rankings for the 11th to 21st states are listed along with a recap of the top ten.
TENNESSEE Rating = 11 Tennessee does not consider itself a wealthy state. It is a strong insurance market territory with a solid reputation. Long-standing recruiting companies are just as committed to Tennessee brokers as music collectors are to Elvis memorabilia. The state is split into three metropolitan areas: Nashville, Memphis, and Knoxville. This helps to reduce the competition. This helps reduce total competition in recruiting. All product marketing agencies have the opportunity to market annuity, senior, financial, group, and other products.
OREGON Rating = 12 Oregon is a great state for marketing your insurance products. Almost every statistic shows that Oregon is close to the national average state. These include the income level, senior resident percentage, number of agents per 1,000 residents and amount of insurance marketing competition. Correctly, the agent retention rate and average years of experience correlate. Agents have responded positively to insurance marketing firms who contacted quality agents. The response rate has been slightly higher than normal. These two crucial recruiting factors are what put Oregon ahead of the rest.
ALABAMA Rating = 13Sweet Home Alabama is where the sky is so blue and the recruiters are far too few. Alabama boasts an exceptional mix of agents. This includes career agents who broker business and independent agents. Small agencies with multiple lines that work with brokers to help them manage their lives and business. There is far less demand for agents than anticipated. Low competition and the positive response from recruiters in Alabama gives this rating a lucky 13, which is well-deserved.
KENTUCKY Rating = 14 The blue hills of Kentucky are beautiful along with the green pockets that Kentucky agent product recruiters. Kentucky has an almost identical mix of agents as Alabama. There is a higher concentration of career agencies in Kentucky. Although the competition for sales agents is high, the response from insurance companies ranks very high.
ARKANSAS Rating = 15 Arkansas ranks ninth for its growing senior population and affordable retirement housing. It is a great state for senior market agents and insurance marketers to sell ltc and long term care, medicare supplement part B and D, final expenses, and annuity products. There is one drawback that some insurance recruiters may face. It is difficult to sell sophisticated, high-premium annuities and life/investment plans in this state. Arkansas is a great place for small businesses. Its boundaries are just outside Little Rock, but it extends throughout the state. Because Arkansas is a low-income state many major life insurance agencies have shifted their focus elsewhere. Many semi-captive agents and independent agents are left behind, as well as brokers and PPGA producers. It is also a great state for marketing small group, term and universal life insurance products.
KANSAS Keep your budget low if you are looking for a job in Kansas City. There are too many career agencies in this area. This results in lower retention of agents. Unknown Fact: A state or an area in a state that has a high concentration or career life agents experiences a 5% to 20 percent lower retention rate. Kansas is 21st in median family income and has a senior population that is equal to the state’s average. It means that you have many products to offer brokers as a recruiter. Kansas is home to a variety of products, including variable indexed annuities and long-term care. These advantages are augmented by a high level of feedback from other marketers, and a lower demand for recruitment ads.
MISSISSIPPI Rating = 17. Mississippi is currently in the 17th position. It is not helping that Mississippi currently holds the title of the state with the lowest median household income. This makes it difficult to market annuity products while life and health products are more affordable. Modernization is needed, as well as a favorable tax environment for businesses. This will ultimately drive the housing market up and increase incomes from contracting and building occupation. Regional and local recruiters know that the outside world is not suffering; some areas are actually enjoying higher quality than normal. It is smart to stay away from New Orleans’ main city, but not Mississippi.
OKLAHOMA Rating = 18 Oklahoma is not just an “OK” State. Surprised to learn that the average rating for most lower-income states is higher than the national average? Why? Why? Why is this? An important career life company is looking to get agents off the job and run appointments for higher income products. They are looking for clients who can afford high-end investment and premium life plans. This is difficult to find people in a low-income area. Recruiters are often unaware of Oklahoma because there are so many Oklahoma agents who would be willing to sell business. The state is open to business, except for complex or high-premium annuities.
NEBRASKA Rating = 19 Nebraska is home to more than just the Cornhuskers. It’s also home to major health insurance companies like Mutual of Omaha and World, Medico and many others. These home-based insurers hold a monopoly on senior-related products, despite the fact that senior citizens are slightly higher than average. However, their agent direction has changed to be less restrictive than it was before. The brokerage agents in Nebraska are not open to medical plans or non-senior blue-collar disability. The average family income is higher than 28 states. Brokers can sell clients variable life, universal, term, or small group annuity plans and offer them premium opportunities.
UTAH Rating = 20 Not every man has 6 wives and 20 children. Utah is not ranked high because it doesn’t sell family life or family medical insurance. It is actually the large number of clients, especially outside of the Salt Lake City region. It is worth noting the influx of agents from Nevada and Colorado moving to Utah. There is a strong market for all types life, annuity and health products. Your mailing will be worthwhile due to the large number of brokers available.
Here’s a list of the top 10 rated states Florida (Texas, California), Ohio, Georgia, Wisconsin and Minnesota. This is in addition to the #1 state ranking.
