Life insurance seems to be the breakout product of 2010 on many levels for bank brokerage programs. Sales through the bank channel were up dramatically, and many program managers and TPMs were surprised by how much life insurance business they did this year.
In part the life insurance boom was sparked by low interest rates, which have made the sale of fixed annuities much harder. Many platform reps and financial advisors turned to insurance as a substitute for fixed annuities. But there are many more arguments for selling life insurance in the bank channel than just low annuity sales.
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