Life Insurance Living Benefits Can Be Used While Alive (What You Need To Know)
Life insurance is straightforward: purchase a policy and regularly pay the premium to keep it active. Upon the policyholder’s death, their beneficiaries receive the full amount of their “death benefits.”
Despite being one of the pillars of personal finance, not everyone is convinced that they need life insurance. As an insurance agent, you might’ve encountered a customer or two with the same beliefs.
Agents are no strangers to people who are wary of life insurance because they think it’s too complex or time-consuming. There are also clients who are uncomfortable with discussing the topic of their demise. Some people don’t consider life insurance as an asset and just see it as a monthly bill they have to pay but will never personally benefit from.
On the contrary, life insurance is more than just a death benefit, which is what you want potential and current clients to understand. They need to know about the living benefits so they’ll recognize their need for life insurance.
By educating them on their insurance policy’s living benefits, as well as other available options, you’ll help them see the bigger picture of how they can benefit from it while they’re still alive.
Here are some of the topics you need to discuss.
Challenges Facing Insurance Agents and Insurers
Being in the insurance industry is an exciting opportunity to serve numerous different clients, but as the industry has evolved so too have the challenges that insurance agents are facing. It’s important to be aware of these obstacles so that you can approach them with an open mind and develop a comprehensive strategy for addressing them.
How to Obtain, Qualify, and Contact Insurance Leads Effectively
One of the most challenging things for an insurance agent is finding leads. Even if you know life insurance or any other insurance product inside out, you won’t survive without prospects.
On top of searching for leads, you need to make sure these leads are qualified. It can be difficult, as thousands of agents compete for the attention of a few qualified leads. Getting to these leads before your competitors do is crucial to having a long-term and lucrative career as an insurance agent.
If you're looking to close as many sales as you can, your first few steps should be to look for leads, determine if they qualify as a prospect, and reach out to them properly.
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Is It Time To Move From Being A Captive Insurance Agent to An Independent Insurance Agent?
In the world of insurance professionals, you can be either a captive agent or an independent agent. Captive agents do not own their book of business, while independent agents own their book of business. It is time to increase your income and return on investment.