Life Insurance
Life Insurance
Life Insurance
Life Insurance
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? Once you have determined your client has the proper life insurance coverage, you should be asking them: “Have you protected yourself from the high costs of extended care should you become ill or frail as you age?” The high cost of long term care is the greatest threat to a client’s retirement funds by far. After a fall, the stock market bounces back, the elderly do not. Long term care insurance has traditionally been used in this situation but is not a good fit for everyone. Linked benefit/life insurance based long term care policies offer protection with guarantees not found in traditional policies. The life insurance based solutions guarantee the client’s premiums will never change. They also guarantee a benefit will be paid out. If the long term care benefit is never used, the death benefit will pass to the insured’s heirs. Your clients are not really protected until they have some form of extended care coverage in place. In part four, I will review a question to ask seniors who have their protection in place and have extra funds to leave to following generations.
Life Insurance
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? “When did you last review your life insurance policies?” You should ask this question of everyone, whether you think they have a life insurance policy or not. Many people have never reviewed their old life insurance policies. They may be paying too much or not enough. Their coverage could be too low or missing key features. I often see older universal life policies that have not been funded properly to keep them in force for the client’s full life expectancy. I have also seen cash rich whole life policies that do not offer enough leverage for the client’s dollars. Newer universal life plans with a no-lapse guarantee can help in both cases. Find an annual review fact finder you like and start filling it out at every appointment. You will help your clients and uncover more new business than you have in the past. In part three, I will review an added feature that can give your clients more than just death benefit protection.
Life Insurance
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? Let’s start with the first, most basic question: “What planning have you done for your funeral?” Listen to your clients speak. They may discuss their will, preferred cemetery, music to be played, what funeral home to use. When they finish, follow up with “How will your family pay for all that? Do they really want to pay full price?” This conversation could lead to a fully underwritten life insurance sale, but don’t neglect basic final expense policies. Some people don’t need anything more than a basic burial plan. In lower income households, that may be the only sale possible. Premiums are guaranteed to remain level and underwriting is simple and fast. You should know whether your client qualifies for coverage before you walk out the door. People still purchase pre-paid funerals from funeral homes, you can offer them greater leverage on their dollars. Next week I will review question number two, for use with people who already have life insurance policies in force.
Life Insurance