You’re More Than an “Insurance Agent”
Presented by David Corwin When someone asks you what you do for a living are you at a loss other than to say you are an insurance agent? People have their own preconceived notions of what an insurance agent is and often it isn’t as flattering as we might want it to be. People know what doctors, lawyers, architects and other professions do, but what do they really know about the value a professional insurance adviser can provide? What we do for the public can be more important and at certain times far more critical to people’s lives than many other professionals. The people you talk to don’t care about what your job is until they know how it will benefit them. Here are some great responses that I’ve compiled over the years: • I specialize in giving advice to seniors to provide a predictable lifetime income. • I work with families in planning ahead for an unforeseen, untimely death to make available dollars for ongoing expenses. • I focus on designing programs for the public to provide tax-free income for retirement. • I create ways for seniors to grow their money in a way that helps avoid probate delay and expense. It is crucial to know what you want to say before someone asks what you do. At a wedding reception, dinner party or other social event, when you discuss your business, a prepared, motivating description of your value proposition is a must. It’s all about describing how you work and how it benefits the people you work with.
An Untapped Opportunity?
Presented by Donna Ries According to the September 2013 U.S. Small Business Administration Office of Advocacy, with over 23 million small businesses in the United States, the market opportunity for business protection solutions is wide open. Small businesses need protection if an owner would become too sick or hurt to work. Overhead Expense insurance keeps the business running smoothly by reimbursing business expenses until the business owner can return to work during a disability. This type of policy helps pay for rent, employee salaries, utilities, loan payments, etc. to keep the doors open. Overhead Expense premiums are tax-deductible for the business and the benefits received are reportable as income. Although benefits are taxable as income, the actual business expenses are deductible. Help protect the ability to keep up with overhead expenses that may force a business to close its doors. Propose Business Overhead insurance and disability insurance on your next business insurance visit.
Six Questions for Six Life Insurance Sales to Seniors…
Presented by Brian Leising Do you have senior clients? Did they purchase only one product from you? Was it a Medicare supplement, annuity, long term care or final expense policy? If you were able to uncover the need for one insurance product, could you uncover another? What if you had six simple questions to ask your clients that would uncover additional sales? Do you need a good way to open up an estate planning conversation with a prospect you think may have a problem? Maybe a business owner? Why not ask: ”What steps have you taken to minimize your taxable estate to your heirs?” This is an easy way to lead into the conversation. You are assuming they have already done some planning. Most people have not, or if they did it was never completed. Keep in mind with the higher exclusion amounts that went into effect in 2012? The Federal estate tax may not apply in as many situations as it did in the past. Your state may impose its own state estate taxes at much lower thresholds. On top of that, income or capital gains taxes may also apply. Make sure you are working with an attorney who specializes in estate planning to minimize your client’s taxable estate first. If needed, life insurance can provide immediate funds to pay any remaining tax without liquidating assets. In part six I will discuss two opportunities that will open the door to your next generation of clients.