Do you make New Year’s resolutions you often don’t keep? I know, when the New Year hits we may feel a bit melancholy because another year has gone by, but we can also feel energized, excited at the opportunity that a new year might bring. I do like to put a list of goals together each year. It gives me something to shoot for and reminds me of the things I should be trying to accomplish.
I am optimistic about 2017. It will be a year of new scenarios; a year for all of us to try new things, and perhaps go in new directions. Here are some ideas and possible ways for you to try something new in 2017:
- Offer life insurance that does not require a medical exam even if it is a little more costly. So often when we look at term life insurance we only look at cost. There are other aspects that you should consider as well. More and more carriers now offer term life insurance that does not require the cumbersome medical exam. Your client may appreciate that you offer these products, even if they are a few dollars more than the cheapest product.
- Think about what happens at the end of the level premium term period and consider laddering term and permanent insurance. All too often we are offering just term insurance to our client because of price, when all too often they want coverage that will last their lifetime. Purchasing permanent life insurance at a younger age can guarantee a lesser cost for their lifetime. Why not give them the opportunity to lock in the cost for some permanent insurance now? I know for a fact they will appreciate you when they are at the end of their level premium term, still need coverage, and now have health issues that cause that coverage to be unaffordable.
- Make an appointment to review your client’s life insurance policy. Whether your clients have term or permanent life insurance, doing a policy review a minimum of every 5 years should be on your mandatory to do list. There are so many reasons to do policy reviews:
- They will appreciate you for staying in contact with them
- You can ask for referrals
- Their needs may have changed and they may need more coverage
- It is an opportunity to talk about converting all or part of their current coverage
- If you don’t talk to them, someone else might and you could lose a client.
- Try the “Drop Ticket” process when selling term life insurance. Using the “Drop Ticket” or short form life application process can save you a lot of time by not having to fill out the long, cumbersome life insurance application. Plus, you can do it over the phone! No signatures required. Let’s face it, it is important for our clients to have life insurance, and that may be just a small term life insurance policy, but the time it takes for the full process may not be cost effective. With a “Drop Ticket” you are taking far less time to accomplish the same goal, which can be well worth it.
- Just ask. You have many small business clients that come to you for P&C or Health insurance. Start asking them about their business life insurance needs as well. Having a key person policy on the business owner that is owned by the company can be a smart move should something happen to that business owner. It doesn’t have to be anything complex. Term insurance will provide the coverage they need to protect both the business and their loved ones.
Like I said, I am optimistic about 2017. Your clients need what you provide to them, a safety net to protect the ones they love. Remember to include life insurance in that protection. It is important. We are here to help. We are simply an email or phone call away – 800.747.4445.