‘Insurance is a Scam’ – Let’s Talk About It

The team discusses why people often feel insurance is a scam, distinguishing between different types of insurance experiences, and exploring how life insurance professionals can better communicate value to clients. Bill brings decades of industry experience and shares candid insights about how the right insurance solutions can genuinely change lives—and why that message often gets lost in poor communication.

Key Takeaways for Life Insurance Agents:

1. The insurance industry has a major education problem—companies and agents need to do a better job explaining how policies work rather than just selling them.
2. Life insurance has one of the best claims payment records in the insurance industry, with nearly all death claims being paid promptly.
3. Permanent life insurance serves multiple functions beyond death benefit, including tax planning, retirement supplementation, and providing financial flexibility during life.
4. Only 8% of Americans have disability insurance despite it being the number one cause of mortgage defaults.
5. The best way to judge an insurance provider is by evaluating the organization selling it rather than just the carrier issuing the policy.
6. When faced with clients who feel “scammed,” acknowledge their feelings rather than dismissing them, then explain how your approach differs.

Brought to you by Millennium Brokerage Group, we’re committed to elevating the conversation around insurance while making it accessible and entertaining.