Down Economy Creates Bull Market in Workplace Benefits Marketing Career Sales

Colonial Life experiencing upswing in new sales professionals and new sales

COLUMBIA, SC – March 19, 2009 – A year ago, J.T. Lynch was climbing 300-foot towers and digging trenches in his job as an electrician for industrial and commercial sites in Virginia. By the end of the year, he was an assistant sales manager for Colonial Life & Accident Insurance Company, named the top new benefits representative for the Virginia Territory and earning more money than he ever did as an electrician. I was laid off and had trouble finding a new job, J.T. says. He heard about a sales opportunity in workplace benefits marketing, and he began the licensing process and learning the voluntary benefits business. The beginning was a little bit tough learning something totally new, but I was surprised I grasped it so quickly. Now I’m an assistant manager with my own team of agents. To do that in my former career would have taken eight years.

When Texan Karen Garcia, a 30-year veteran in the banking industry, became a victim of downsizing, she brought her financial services industry experience to a new career in worksite marketing. Karen got her first three accounts within 90 days — a bank, a local rental company and a small, lawn care company — and a few months later had brought Colonial Life into a total of six businesses with more on the horizon.

In today’s economic situation, people like J.T. and Karen are finding success in working with employers and benefits brokers to help provide personal insurance products and benefits education at the workplace. In fact, despite the economic outlook, Colonial Life is experiencing record recruiting and new business sales.

  —  2008:
      —  More than 28 percent growth in new salespeople joining the company.
      —  Nearly 60 percent growth in new business sales from these new benefits representatives.
  —  January/February 2009:
      —  More than 37 percent growth in new salespeople.
      —  75 percent growth in new business sales from these new benefits representatives.

Compare these statistics with those from the United States Department of Labor’s Bureau of Labor Statistics:

  —  8.1 percent national unemployment rate for February.
  —  2.2 percent job openings rate for January.

With high unemployment rates, we expected to see more people interested in independent-contractor sales positions, says Dan Hughey, Colonial Life’s senior vice president of national sales. But what has been so positive and exciting is seeing the numbers of new people coming from the financial services industry and other industries who are generating such great sales results. It’s a testament to the fact that businesses and their employees need voluntary benefits now more than ever.

A career in marketing voluntary benefits at the worksite requires insurance licensing and, depending on the company, may also require some product and market conduct testing.

About Colonial Life

Colonial Life & Accident Insurance Company is a market leader in providing insurance benefits for employees and their families through their workplace, along with individual benefits education, advanced yet simple-to-use enrollment technology and quality personal service. Colonial Life offers disability, life and supplemental accident and health insurance policies in 49 states and the District of Columbia. Similar policies, if approved, are underwritten in New York by a Colonial Life affiliate, The Paul Revere Life Insurance Company. Colonial Life is based in Columbia, S.C., and is a subsidiary of Unum Group.

For more information about supplemental insurance and career opportunities, call Colonial Life at (803) 798-7000 or visit www.coloniallife.com.