The loss of Global Equity in companies publicly traded dropped from 61 Trillion dollars in December of 2007 to 26 Trillion in January of 2009.  This is a loss of 57% or 35 Trillion dollars world wide. 

The United States companies accounted for 11 Trillion of that loss.

The Residential Real Estate market lost 10 Trillion dollars so far but is still up a net 10 Trillion overall.

Unemployment is at 8.5% but predictions are as high as 10.8% holding through at that level throughout 2010.  Three million jobs lost so far.

Corporate earnings are down 35% in the first quarter but are expected to rebound with a net loss for the year of 10%.

We have had 12 recessions since 1929 with the average time of 10 months for each one and we are already 16 months into this one. 

In terms of the insurance industry, 73 companies have been downgraded and only 2 have received an upgrade.  Virtually the entire industry in on negative outlook. 

On the positive side of things, home mortgage interest rates are at some of the lowest levels ever.  While much of the downturn in the numbers above are due to the accounting rule of mark to market, many of those marked down assets are still held and are expected to return to higher levels of worth in the future. 

Price to earnings ratios are the best they have ever been.

 

Clients are looking for life products with strong guarantees and are more willing than ever to buy DI to protect their income!

Union Central will now issue up to $40,000 a month of BOE coverage.

 

Notable for 2008 was a new disability sales record set by Kenny Morris who had over $100,000 of paid for disability premium.  He broke the previous record of $96,000 that had held for 4 years.  Who will set the new standard?  Kenny congratulations on your outstanding results in 2008 and your continued commitment to representing our products to your clients.  We all here truly appreciate your trust and our relationship. 

2009 is off and running.  You might expect with all the negativity in the economy that business would be down?  You would be wrong.  Our business is at record levels as both submitted premium and paid premium is way up over last year.  Clients are concerned about their jobs and the income they produce and there has never been a better time to approach them about protecting their biggest asset, their ability to earn and income.  Many of you have returned to selling disability with us, who have not sold any in some time.  We have not seen this kind of receptiveness from the public about disability for many years. 

 

Whether you sell your clients with us or with some other company please make it a point to call on them about this need.  You and they will be glad that you did.

 

Thank you for the opportunity to work with you and your clients!