MetLife and other life insurers are trying to reverse a long slide in sales of life insurance to the middle class, but it’s proving a tough sell.
Source: online.wsj.com
Another reason for the sales decline: MetLife, Prudential and other insurers that went public in the 1990s and early 2000s got more fixated on the bottom line. As a result, insurers shrank their ranks of in-house agents to save on recruitment, training and other costs. They farmed out sales to securities brokers and independent financial advisers, who also tend to have well-to-do clients.