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NOVEAABER 2, 1964
SPOT
NETWORK
TOTAL
INSURANCE:
Estimated gross time expenditures in tv
Percent 1963 change
$ 7,346,000
16,427,600
23,773,600
1962
$ 5,118,000 15,746,737 20,864,737
Sources: LNA/BAR, N. C. Rorabaugh
Plus 43.5 Plus 4.3 Plus 13.9
Life insurance companies
buy tv ^policies'
From State Farm to Prudential, many firms bolster grosses— and back their agents — with tv investments
■ Since the beginning of this century, the number of life insurance poHcies owned by Americans has grown about 13 times faster than our population. By 1963, total life insurance in force stood at the awesome figure of $730 billion. That represented a $55 billion increase over the year before.
What do insurance companies, doing business on such a grand scale, consider far-and-away the best advertising medium for building a more favorable image of their agents? Television, of course. Network gross billings for all insurance companies increased, in the fastpaced 1952-1962 decade, from a paltry $600,000 to $15.7 million.
Spot expenditures, of greater importance because of the regional character of many insurance companies, have grown equally fast.
From 1962 to 1963 alone, gross tv spot time expenditures jumped from just over $5 million to more than $7.3 million — a 43.5 percent rise.
In fact, many insurance companies are turning most of their advertising dollars into the tv fold. In network, for example. Prudential's record-breaking sponsorship of C B S T V's Twentieth Century, John Hancock's investment in NBC-TV's The Huntley-Brinkley Report and Travelers backing of CBS Reports represent those companies' major advertising efforts. State Farm, trading on its successful tv beginning last year, is now using television exclusively. State Farm commercials will again be seen regularly on NBC-TV's Jack Benny this season.
Spot advertisers include John
November 2, 1964
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