Tom Archer, arguably the greatest Life Insurance agent ever, has climbed to new heights. Mr. Archer refuses to be complacent after already leading several major insurance carriers throughout his career. He also holds the record for the largest life insurance policy ever sold.
On January 4, 2021, Mr. Archer received a call from Penn Mutual Life Insurance Company announcing that he led the entire company in life insurance production. There was not a close second place as he did millions in life insurance premiums and several hundreds of millions in death benefit. Believe it or not, Mr. Archer, who is truly a humble person, was the number one life insurance advisor for several other carriers as well.
Michael Kane, the manager who recruited Mr. Archer’s business, said, “I have never seen anything comparable to the likes of Tommy Archer. He is truly one of a kind and the greatest life insurance agent that I have ever seen. I have never seen anyone look out for their clients the way Tommy does. He always does the right thing, and his genius and brilliance puts him on a totally different level than the rest.”
In a year with so much going on with the pandemic and a lot of uncertainty, Mr. Archer went to work for his clients to further insure their families’ futures. “It is all about protecting my clients,” he said. “It was a very difficult year for a lot of people, and we wanted to let them know that we are there for them.”
In the very challenging year of 2020, Mr. Archer sold over $1 billion of life insurance among several insurance carriers to help families pay estate taxes, to assist in partnership buy outs, to help with equitable distribution and to simply create cash when it is most needed. He says his clients purchase these policies as a way to protect their wealth for future generations. Currently, the estate tax exemption is capped at around $23 million for married couples ($11.5 million for individuals) under the Tax Cuts and Jobs Act. However, the exemption is scheduled to expire by the end of 2025, when it would return to $5.6 million for individuals, $11.2 million for couples. The current administration may move up the expiration date as part of its plan to impose higher taxes on the wealthy.
Mr. Archer states that he focuses on putting his clients at ease in such uncertain times. “We have to be there for our clients and continue to help and educate them as to what is going on and what changes may be on the horizon,” he said.
Mr. Archer handles the wealthiest families in the country. His clients consist of billionaire families, as well as well-known celebrities and over 200 professional athletes. “I handle every case differently simply because no two cases are alike. Each client, business and family have their own unique set of facts and circumstances. Each of them has a different problem that needs to be solved. You can never group anyone together to take a cookie-cutter approach in this business. You have to dissect every case a piece at a time.”
He credits his success to hard work, determination, mental toughness, and enjoyment of what he does. “After 35 years in the business, instead of retiring I want to continue to do great things for my clients and for the industry,” he said.
In addition, Mr. Archer is an avid baseball lover who said he loves three things in this world “Those are my family, the Chicago White Sox and my business.”