Sponsor (Oct-Dec 1964)

Record Details:

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. . . tv policies Hancock, State Farm and Allstate, among others. Allstate is, in fact, one of the greatest users of spot. During one week this summer, Allstate commercials appeared in 60 major markets, costing the company an estimated $5(),(K)(). (Total SPONSOR-cstimated spot expenditures that same week for 950 announcements by 82 insurance advertisers equalled $115,000.) Spot tv has been a strong life insurance medium for several years. In 1961, underwriters poured $5.1 million into spot and in 1962 increased that amount to $8.2 million, a 60 percent rise. Obviously, life insurance companies weren't just increasing advertising budgets; they were also taking the money from other media. During the same year, life insurance expenditures in magazines decreased 4.6 percent and in newspapers 7.2 percent. Radio, however, increased a healthy 37 percent. Equitable and Life of Georgia head the list of spot radio users. Equitable spends about $650,000 in the medium annually, with additional radio money coming from co-op plans. Other spot radio advertisers: Confederation, Mutual of Canada, Southland, Metropolitan and Life of Virginia. Confederation has just started using the medium and Life of Virginia is testing it. Mutual of Omaha, of course, is widely known for its use of network radio and spent $84,000 in the medium during the first quarter of this year. Insurance advertising is not meant to sell policies, but merely to open the door for sales representatives. By creating a favorable image of its agents and explaining the policies and services he has to offer, companies not only give agents an "in-home" introduction, but give them pride in their profession and a sense of importance. The use of television to introduce insurance agents was perhaps given its fullest recognition in 1962 when the Life Insurance Institute launched a major network compaign. (The The Institute of Life Insurance spurred interest in television in 1962 when it bought network election time. This year the institute signed for one-fifth of CBS convention-election package, a $2 million buy. SPONSOR