Like manufacturers who seek out multiple sources of distribution, life insurance companies are looking for other channels to sell their products. And recently the bank channel has been gaining traction. But while some firms have a “more-is-better” sales strategy, others have avoided selling through banks altogether, potentially giving up revenue in favor of retaining top talent.
New York Life Insurance Co. is one of those companies that made a strategic decision that the strength and value of the company was in its career agents, and it would not sell its life insurance products through banks.
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