The awaited rush of banks to affili...

The awaited rush of banks to affiliate with insurers has largely failed to materialize, despite the removal brace and one-half years ago of barriers separating financial services firms with the passage of the Gramm-Leach-Bliley Financial Services Modernization Act.

Banks have been cautious about entering an industry that differs greatly from their possess in terms of how business is sold and profits are generated. While banks have had succes distributing annuities and mutual permanent funds these transactions are much les complicated than life insurance works Life insurance sales typically involve longer-term relationships nurtur on an agent who provides direction