How To Sell Life Insurance For Long Term Residuals

Date Published 6/18/21, 4:18 PM

When selling life insurance, many producers mistakenly let the customers focus on small policies that mostly take care of funerals and internments. Clients who are shopping around for insurance to cover their final expenses are better left to affiliate marketers and other third parties who can use algorithms to better steer such folk to more specific insurers and policies that suit their needs.

A final expenses leads provider can take care of all the small details that go into a final expenses policy. Once a truly promising lead in your service area is available, you get it within four to 10 days on average and can spend your valuable time closing the deal that already has been made. That leaves a lot more time to focus on selling more long-term life insurance protection that will help to boost long-term residuals and grow your book of business.

Client Engagement Requires Thoughtful Guidance

A truly productive life insurance producer can focus on listening to clients and learning their individual situations and responsibilities. Doing so helps to better match them to long-term life insurance policies that deliver truly beneficial support for policyholders. It also makes it possible to engage the prospective client in a truly meaningful conversation that establishes rapport and builds trust.

It is very important to listen to the customer and learn what his or her known needs are and how you can help. While doing so, you are establishing a common ground in which the prospective customer has needs, and you have the solutions to fulfill them. Those needs often involve spouses, children, a mortgage and maybe a college fund or business interests.

No matter what a particular client’s situation might be, it is unique and requires deeper involvement from producers than simply selling life insurance based on general needs. The more detailed and in-depth you can go, the greater the service to the client, the bigger the potential policy, and the more likely you are to establish a quality business relationship with long-term life insurance residuals.

Help Customers Recognize Life Insurance Needs

While listening to the client and continuing the meaningful conversation, it helps to point out potential needs that the client might not anticipate. Those possible needs might include a growing family, change in home or career, or a catastrophic event. Selling life insurance designed to meet needs the client does not recognize but are hidden beneath the surface can be a great benefit.

For example, the diagnoses of a potentially life-threatening condition, like cancer, might be part of a family history. Maybe a grandparent passed on from a cancer that is more likely to pass from one generation to the next or skip a generation. The same could be said of countless life-threatening conditions that could have genetic traces.

While most people seeking life insurance likely are in good health and have cancer very far from their thoughts, a family history might indicate a lurking susceptibility that the prospect had not considered. A good life insurance producer can help to raise those legitimate issues and better help the client to choose the best life insurance protection and establish a long-lasting and fruitful business relationship.