Abundance Mentality

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Let’s talk about the abundance mentality.  And no, I am not bringing up meta-physical “send positive vibes to the universe and reap the rewards” feel good platitudes but rather altering your perceptions based on the reality of the world.  More in line with “fortune favors the prepared mind” tact of Louis Pasteur.

Fact: The United States has almost 330 Million people. There are about 275mm adults.

Fact: 40+% of American adults have no life insurance.  This translates to over 110,000,000 potential buyers.   

Fact:  An additional 1 out of 5 adults that have life insurance admit they need more coverage.  This is an additional 55,000,000 potential purchasers.

INSIGHT: 165 MILLION Americans have no life insurance or say they want more.  6 out of every 10 adults.

Don’t like those numbers, saying they are too big?  How about the fact that 50% of adults searched for life insurance online last year and 1/3 actually tried to purchase it? 

Younger consumers are (obviously) even more tech savvy and comfortable using the net to find what they want.  But a full half of Millennials say they will do their research online and purchase through an Agent/Representative. 

Insight:  That is thirty-five million purchasers under 40 years old.  If you are a Millennial, half your peers want to buy what you have to sell and admit it.

So now that we have established some facts about the desire for life insurance, it is reasonable to extend this logic to other products you have available like disability insurance or annuities or investments.

Fact: 80% of Americans surveyed would pay to have guaranteed income.  That’s right, they want to buy annuities.  200+ million consumers.

Fact:  65% of respondents to a LIMRA study said Disability insurance is important, but only about 20% have it.   Similar to Long Term Care Insurance.  190+ million potential buyers.

INSIGHT: The majority of Americans need and want the various insurance products in your arsenal.  By a large margin. 

So we can reasonably say that more people need and want what you can do for them than don’t need or want it.

Therefore, more than half the people you meet or get introduced to you have expressed a desire for help in a way that you can provide as an agent, Representative, or Advisor.

Thus, there are enough people out there to talk about your services that you can literally never run out of opportunities, if only you could get introductions to them.

An endless supply of what you need to run your business, as opposed to the scarcity mindset that is all to prevalent.

And THAT is why you should be constantly asking your friends and clients for introductions: because more often than not the person they recommend has a desire to actually talk to a knowledgeable professional that can help reveal their gaps and help craft solutions.

Well over a hundred million people waiting for you to help them.

And that is why you should have an abundance mentality, because no matter how many clients you see there will always be more people that want you to help them, and it is your duty and opportunity to do so.

Go do some good out there.

  1. Jim Zoller says

    A nice way to begin a Monday. Time to get out there and do some good!

  2. Joe Templin says

    Update: COVID 19 has caused about 40mm Americans to lose their jobs. These people want your guidance, and have lost their employer sponsored coverages.

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