Your competition doesn’t want you to know this secret to selling life insurance to newlyweds. (We’re spilling the beans anyway.) Ah! Those early days of marital bliss! The sun rises on the love of your life, and you can’t imagine a world without them. You wash dishes together, go on vacations together, and do the boring stuff like taxes and budgeting together. You share your dreams about the future that awaits the two of you: the house, the dinner parties, and growing old with each other. As an insurance salesperson, the future those newlyweds have planned is the secret to selling life insurance, especially to people who may not otherwise think about something so important...
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Most people don’t grow up with the dream of one-day selling insurance. It isn’t the most glamorous profession, and it often gets associated with pushy salespeople that force their products down your throat. But here is the reality: there is a lot of money in the money business! The financial services industry has created more millionaires than any other industry. Unlimited Opportunity Are you stuck in the rat race? You get a good job and work really hard, while the government, bill collectors, and your bosses take the majority of the reward. As your paychecks gradually increase, you increase your lifestyle and therefore limit your opportunities to build wealth. Right now there are 10,000...
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It’s not surprising that the COVID-19 outbreak spurred a significant boost in life insurance activity. Fear has always been a prime factor in life policy sales, and concern about the potential for infection, severe illness, and possible death has certainly been prevalent during the pandemic. MIB’s Life Index shows U.S. applications rose by 4% in 2020, the biggest full-year increase in the last decade, bolstered by a 14.1% spike in July and a 7.6% jump in October. This growth trend has continued into 2021, according to MIB, with applications up overall by 10.1% for the first quarter and 18.5% in March over the same month in 2020, when the pandemic first hit the U.S. market. In the best of...
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Need Cash? Tap Your Life Insurance Policy Life insurance can provide much-needed cash for loved ones you leave behind when you die. That financial safety net for those who depend on you for support is the primary reason to buy a policy. But life insurance also can provide cash for you while you’re living—that is, if you have a cash value life insurance policy. This is one of the perks of a permanent policy and a key reason it costs more than a term life insurance policy (along with lasting your entire life). You can access the cash in a variety of ways. That’s right: It’s yours for the taking. Before you do this, though, understand your options and the pros and cons of each. What Is Cash...
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These life insurance sales techniques are just the thing to sway any of your clients who may be sitting on the fence There are some clients we all love. They contact you, tell you they want a life insurance policy, ask for your advice, and sign on the dotted line. They get an excellent policy, you get a nice sale, and everybody is happy. To top it off, they even send you a few referrals every couple of months. There’s another type of client that a lot of salespeople ignore, but savvy insurance salespeople know how great they are. These clients aren’t really sure what they want in a policy, and they might not even realize they need one. Their friends and coworkers tell them they...
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Keep in mind a sale is made during every interview: You either sell them, or they are going to sell you. An actual insurance selling interview consists of four distinct steps, which is called the sales cycle. What is the life insurance sales cycle? I see it as an orderly and defined way, during an interview whereby you get a prospect to agree with you about certain wants and needs. When agreed upon, they will then want you to provide a solution to make sure those wants and needs are taken care of, by using the products that you sell. In our case, it is Life insurance. (Remember people buy what they WANT, not what they need.) They need life insurance, but if they want a new boat. Guess who...
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Buying life insurance is a big decision and you deserve to feel confident that you are getting the right product for you and your loved ones. In Ontario, life insurance is sold by insurance companies and agents that are licensed by the Financial Services Commission of Ontario (FSCO). Visit Licensed Insurance Companies in Ontario or Agents licensed in Ontario to find an insurance agent or company to work with. If an insurance agent or company is licensed by FSCO that means safeguards are in place to protect your rights, but you need to be aware of your responsibilities too. Your Rights Life insurance companies have obligations and responsibilities to you, the buyer. They must: fulfil their...
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Can life insurance agents sell annuities? Probably you’ve heard your local Agent talking about selling annuities separate from their usual life insurance products. You may have even asked, to learn annuities aren’t always a standard offering. Confusing, isn’t it? Rest assured, annuities are one more tool available to Agents when helping protect families’ financial future. What is an annuity? At its most basic level, an annuity is simply a payment made on a regular basis. For the purpose of this article, we’re going to discuss life annuities, which can be an extra source of income after retirement. In life annuities, you’d pay premiums for a set amount of time, anticipating you live long...
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Banks Sell Life Insurance? That’s News to Me! Banks Sell Life Insurance? That's News to Me! There has been much interest in the distribution of life insurance through banks, as many carriers and their bank partners make significant investments to generate sales in this channel. But according to research from LIMRA International and its subsidiary, Kehrer–LIMRA, work still needs to be done before consumers look to banks as a primary source for their life insurance needs. After several years of growth, sales through the bank channel have tailed off. According to Kehrer–LIMRA, sales of single premium policies–the dominant product sold by banks–have steadily declined since 2004. Bank sales of...
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You want your loved ones to be taken care of after you pass away. For many people, life insurance policies are their way of making this happen. But you might find that you’re paying more for your premiums than you can afford, and the potential benefits might not be everything you’d hoped for. So what about selling your life insurance? Whether you’re in a tough financial situation or just want a little extra pocket change, you might find that the benefits of selling your life insurance policy outweigh the drawbacks. How the Process Works If you want to sell your policy, you can do so with a life settlement. This works especially well for retirees and others over the age of...
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