Presented by Brian Leising
Are you concerned about losing clients to your competition? Looking for new ways to boost your retention rates and grow revenue? The average client retention rate is 10% higher when agencies cross-sell products. Many agencies fail to effectively cross-sell life insurance because they do just a few basic things the wrong way. You need a plan. Here is the second of three items that all successful agencies use to sell life insurance to their auto and homeowners clients:
Understand life insurance must be sold pro-actively. Selling auto and homeowners insurance involves sales skills, but selling life insurance requires a different skill set, a different approach. People are not required to purchase life insurance. The lowest price is not going to make the sale. You have to make them realize they need the coverage. You cannot throw out numbers of different coverage amounts and expect them to pick one. You need a system in place to determine the amount and type of coverage needed for your client’s situation. It really doesn’t matter if you use a computer program or a quick analysis on a napkin, have a system to use and use it, every time. In the end, the computerized systems and the shorthand napkin systems arrive at nearly the same coverage amounts. People only buy life insurance for two reasons, they love someone or they owe someone. All systems take these reasons into account. We tend to look at them as debts to pay off (owe someone) and income to provide (love someone). Looking for a system to use?
Presented by Brian Leising
Are you concerned about losing clients to your competition? Looking for new ways to boost your retention rates and grow revenue? The average client retention rate is 10% higher when agencies cross-sell products. Many agencies fail to effectively cross-sell life insurance because they do just a few basic things the wrong way. You need a plan. Here are three items that all successful agencies use to sell life insurance to their auto and homeowners’ clients:
Have a system in place to ask for life insurance business. It doesn’t matter what system you use, have one and use it. One agent I know has a dollar bill and sign on his desk that says “This dollar is yours if I don’t ask you about life insurance.” Do you send out annual review letters or e-mails? Be sure you include life insurance. You could also play a video in your office waiting area. The LIFE organization has several “Real Life Stories” available at www.lifehappens.org.
Work on this first, then check back next week for part two.
Presented by Jim Linn
Other salespeople are limited. They just sell furniture, appliances, cars or shoes. I make life worth living by selling those things and many more. I sell meat, bread and milk for the table of a family deprived of a father or mother. I sell cancelled mortgages so that mother or father and children can live comfortably. I sell college educations to give the children better opportunities in life. I also sell the little extras like ice cream cones, roller blades, movie tickets and a dress for the prom. I sell time with grandchildren, golf clubs, fishing tackle, exciting trips, retirement income and self respect for later years. I sell all the necessities and good things for life, because life insurance is for the living.
Listen in to this podcast to learn about how the fixed annuity conversation can be tailored to focus on income. We will be sharing a conversation that has worked for many financial professionals. This podcast is the first in a two-part series.
Focus On Income – Part One
Guarantees provided by annuities are subject to the financial strength of the issuing insurance company; not guaranteed by any bank of the FDIC. Guaranteed lifetime income available through annuitization of the purchase of an optional lifetime income rider, a benefit for which an annual premium is charged. Please note that in order to provide a recommendation to a client about the liquidation of a securities product, including those within an IRA, 401(k) or other retirement plan, to purchase a fixed or variable annuity or for other similar purposes, you must hold the proper securities registration and be currently affiliated with a broker/dealer or registered investment adviser. If you are unsure whether or not the information you are providing to a client represents general guidance or a specific recommendation to liquidate a security, please contact the individual state securities department in the state(s) in which you conduct business.
Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, and the reassurance of a death benefit for beneficiaries. Please note that in order to provide a recommendation to a client about the transfer of funds from an investment product to a fixed insurance or annuity, you must hold the proper securities registration and be currently affiliated with a broker/dealer. If you are unsure whether or not the information you are providing to a client represents general guidance or a specific recommendation to liquidate a security, please contact the individual state securities department in the states in which you conduct business.
This information is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Encourage your clients to consult their tax advisor or attorney.
Presented by Gary Peterson
It’s easy to discuss the need for protection for our homes and autos. Life Insurance is different. When we talk to our clients, we need to tell a story about the value that life insurance brings to their family. As we enter into a new year, here’s an article that will help you increase your Life insurance sales by reminding us, as professionals, to let our clients know the Hope that Life insurance brings to them. Let Financial Brokerage be your support in 2015.
Life Insurance is a Promise
Life Insurance