Has the Group insurance market become stagnant?

For the past year, The Benefit Guys have focused a lot of their attention in the Group Insurance market. With the Do Not Call legislation in effect, and the government monitoring and prosecuting offenders, calling on your average family for Life Insurance sales can be a risky thing unless you have purchased and follow the Do Not Call List. Who would have predicted the collapse of the economy in late 2008 and most of 2009. It has been our experience, that a lot of business owners have been in a wait and see mode. If they already have packages, the insurance companies have been discounting rates to keep them on the books to justify the decrease in new business. For those without benefit packages, business owners are in no hurry to add any new expenses to their bottom line. However, small businesses, i.e. husband and wife, can really take advantage of things like Health Spending Accounts, to take the money they are already spending, and make it tax deductible to their company at a very minimal cost. As for everyone else, we see 2010 as a year of incredible opportunity as the economy officially gets on the road to recovery and companies start to lighten their purse strings a little. So is the market stagnant? There is definitely business being done, but not at the rate it once was. As confidence builds amongst business owners, new business will definitely come back.