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.
You'll want to know what separates the top producers of final expense life insurance from the rest of the agents in the field. Or you may have been in the process of mastering your own techniques to get to the top. There are several tips that you should consider as you move through the final expense marketplace to give a good deal to your client and to increase your chances of closing the sale.
Setting follow-up calls is absolutely crucial to your business but often feels like a hurdle without a strategy behind it. Learn how to tackle the call or objection and clamp down the next appointment.
A recent study called the Insurance Barometer explored the various reasons why people do not follow through with purchasing life insurance. Given that final expense insurance is one of the most popular ways for people to cover their funeral and burial costs, it is important for insurance agents to realize how they can market to Final Expense and Life Insurance customers more effectively.
Don't throw in the towel when you run into a single individual. As an agent, it is your job to advise a client that is single, why now, is still the best time for life insurance.