Since I first entered the business in college, I’ve sold life insurance. I sold the “miracle of paper and ink" and I was proud to do so. You may have heard or read that only life insurance can create an estate for pennies on the dollar, or that permanent policies also create an additional nest egg that can be used for various purposes throughout a person’s lifetime. Life insurance was, is, and will always be one of the most wonderful financial tools in the world. Many of my readers have presented death claims to their clients or have even had the experience of a death claim in their own family.
Few things solidify your position in the insured segment of the financial services industry quite like delivering a check to a client's beneficiary. But to be the full service professional, we need to make sure that we cover and protect the client from other "financial hazards," such as: disability, sickness, financial emergencies, inflation, old age, the high cost of health care and the planning for retirement income. I am proud to say that our industry has done a fine job living up to our responsibilities and guarantees. There was a shortfall with life insurance in the “old days," but it has been addressed. Please read on… As you know, in the past (and sometimes still today) the only way a death benefit could be accessed would be for the insured to die. Because of medical advances, a person can suffer a heart attack, cancer, stroke, and more and still continue to live. In some cases, this has the potential to be a double edged sword. The medical advances kept the patient alive, yes, but in many cases drains their cash. Same holds true when a person can't perform 2 or more of the activities of daily living (ADL's). But there is an answer. Today, many companies will pay the death benefit early, or accelerate the death benefit, if the insured has either a critical or chronic illness. The amount the client will receive varies by company and age of the insured. The policies can be term or permanent, fully underwritten periodic premium, single premium, or also simplified issue, with some carriers offering return of premium riders. This is just what America has wanted and needed. Truly dollars that can be used while living. Think about it, a life insurance policy where you don't have to die to collect. Don't you think your clients should learn about these types of policies? Don't you think they should learn about it from you? If so, give us a call at 1-877-844-0900 and we will present you with the menu of companies and products that we handle. It's time to spread the word.
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Of course, you would never say that to a prospect or client. If they want to buy, they will call you... right? Well, chances are, they won't. You might as well ask them if they want to buy life insurance because no one else is.
I attended a luncheon recently with an "idea-sharing" group where we discussed the benefits, challenges, trials, tribulations, and successes of digital marketing. The group was quite diverse. One younger guy owns one of the larger real estate franchises, we had a guy that owned a title company, an attorney, and more. So, we also discussed how we were marketing. And boy, I guess we have forgotten the basics. Please read on: The successful people (the three I pointed out above) have not been asked to buy life insurance in years. As a matter of fact, they couldn't remember when someone asked them. Now, after convincing them I wasn't going to jump across the lunch table, they did admit that they felt under-insured. So, why didn't they just pick up the phone and call an agent? Why didn't they at least go online and buy some term? Why didn't they ask a friend for a referral to a professional agent? Probably because their friends are underinsured too. Remember, life insurance has to be sold. You have to make a persuasive presentation showing insurance gaps and then help them get motivated to buy. One of the reasons life insurance can be a tough sell is because people don't buy life insurance because they are going to die. No, we buy life insurance because the people we love and people that depend on us will continue to live. Here’s a sales tip and a way to rejuvenate your career. Call all of your clients and present $25,000 of simplified issue life to be earmarked as "final expense" money. Looking for where to pay the premium? Do they have an annuity? Then take out 10%. Do they have a certificate of deposit? Go there and get the cash. Talk to them about losing one social security check upon the death of one of the spouses. Finally, yes, I think you should go prepared, gather data, find the shortfall, and then make the presentation. But if you don't do that, then simply ask... "Would you like to buy some life insurance?” I think you would be surprised how many people say, "Yes." So, my question is, "How many of you, the readers, will go out and offer your clients more life insurance?" Let me know how this works out. Until next time... good selling! This is really simple. If you are looking for some answers or maybe a business strategy, then let's spend 20 minutes together.
Call us or click to book an appointment with one of our marketing consultants and let's win together. What do you have to lose? Invest 20 minutes and change your life. Some financial professionals are viewing this time period as full of opportunity. Some view it as the end of an era. It reminds me of a great historical novel by Charles Dickens, "A Tale of Two Cities."
Allow me to quote, as nearly as I can, the opening of this great book. "It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way." Does this sound like our industry today? Are you a glass half full or a glass half empty type of advisor? Let's investigate… Is prospecting a little tougher? Sure it is. Between do not call lists, caller ID and the dreaded delete button response to emails that you send, it can be the epitome of a tough crowd. Seminars are getting too expensive? But does that compare to a drop in business? There are new seminars both with and without meals. But, you have to invest in yourself. Is the digital world too hard to navigate through? If you don't know how to develop a good website or content, let us do it for you. Or how about a good standing with Google and how to disseminate your info to the world? You may not be up to your full potential, unless you have an organization that will do that for you. Not feeling the love from your IMO? It is time to pick a team to place most of your business, and it should be a business that always has your back, but the respect needs to be mutual. A lot of IMOs and companies are now focusing on the players that are treating them as partners. So, let's summarize: We have a declining number of agents in our business and it is declining at a rate that the industry has never seen before. We have 10,000 boomers turning 65 each day and in need of the products and services we provide. At The Ohlson Group, we believe that these are the best of times in our industry. There will be big winners and also big losers. It just depends on how you view this situation. I will close by quoting a great motivational speaker, "The only thing that's stinkin' is your thinkin'." Get on the right side of this story. Give us a call today. Until next time... good selling! |
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