The 60+ market for individually underwritten U.S. life insurance continued to roll, fueling an overall increase in life application activity of 2.2% for October when compared to the same period last year.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.