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Three ways for a Property and Casualty Agency to…

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?
1. Financial Brokerage quoting engine needs analysis
2. Calculate Your Needs from lifehappens.org
3. My two-column shorthand system (article coming soon!)
4. The four zeroes (0000) approach (article coming soon!)

Start using one of these systems this week, then check back next week for part three.

Three ways for a Property and Casualty Agency to…

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.

Life Insurance

High Deductible Survival Plan – Part Three

Presented by Brian Leising In parts one and two, I explained how a basic term life policy with a critical illness provision could help your clients pay their health insurance deductibles in the event of a major illness. In this part, I will introduce methods and tools you can use to market this new term life policy to your existing clients. Since we’re talking about your existing health insurance clients, you already know who your target audience will be and have their contact information. Why not stay in touch with your clients the old fashioned way, through the mail? Better yet, start using an e-mail campaign system. The graphic design team at Financial Brokerage has developed a piece you can use with your clients to drive interest in this concept. We can work with you to have this same piece emailed to your clients on a regular basis. If you are not taking advantage of social media to stay in touch with clients and find new ones, now is a great time to start. Posting helpful advice on your business Facebook page, Linked-in and Twitter accounts costs you absolutely nothing. If you are not familiar with these free online platforms, our Guide to using Social Media can help you get started. All of these resources are available for agents contracted through Financial Brokerage. We can also provide access to the insurance carriers that currently offer critical illness benefits in your state. There is no reason to make your clients wait until they are dead to benefit from their term life insurance policy.