Life Changes. Are Your Clients Prepared?

Presented by Gary Peterson

Sometimes it benefits your client to have them pay a little more for their term insurance. Check out the short article below:

Life Changes.  Are Your Clients Prepared?

By Rachel Perez, Sales Development Specialist with North American 

When it comes to helping your clients select a term life insurance policy, you always want to help them find one that’s right for them. With all of the different companies and products out there, how do you choose the best one for your client? 

You may just focus on price—the cheapest policy wins.  But it’s important to remember that not all term insurance is the same. The cheapest isn’t necessarily the best. 

Convertibility is a very important feature of a term policy.  A conversion option is valuable because it protects your clients’ insurability in the future. Life changes, and so may your clients’ health and insurance needs. If they become uninsurable during the term of their original policy, they might still be able to convert a portion or all of their term death benefit coverage to a permanent life insurance plan without showing evidence of insurability. 

Convertibility isn’t just about term, though. You and your clients must also consider the other products that carrier offers. Discuss the potential products available to your client down the road if they were to convert their term policy to a permanent product. 

Know the convertibility features of the term products you sell! You can help your clients choose future options and feel confident that you’re helping them select the best term product for their needs—not just the cheapest.

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