As we recalibrate and adapt to the ever-changing landscape, our perspectives on life insurance must also shift. The dynamic nature of our lives calls for a savvy sales approach that syncs with the evolving trends.
Life insurance isn't just about offering security post-death anymore. It's about enhancing the quality of life now. Modern policies now encompass benefits that clients can access while still alive. The introduction of chronic and critical illness benefits exemplifies this forward-thinking change.
Policies for children under the age of 17 have long incorporated a guaranteed insurable rider. If you're not familiar, this unique rider provides the opportunity to escalate benefits at specific ages or significant life events like marriage, having a baby, or buying a home.
With certain carriers, you can assure up to $50,000 of coverage for your clients' children, a figure that can be amplified to $100,000 by the age of 18. This can be a fantastic offering to parents and grandparents during these uncertain times, especially with the ongoing debate over in-person schooling.Fans of the old classic TV show Columbo might remember Peter Faulk's signature line, "…oh by the way…" This phrase was so impactful that it gave birth to a popular sales technique known as The Columbo Close.
Imagine you're discussing Medicare supplements with 'turning 65' leads. Once you've presented and made your sale, drop in a Columbo Close: "...oh by the way, when was the last time you reviewed your life insurance?" This method is equally effective in reverse, when discussing final expense leads, or when delving into annuity sales.
Let your clients know you're there to protect their hard-earned savings from Wall Street's volatility and ensure a sustainable income for their retirement years. Make this powerful declaration as you're wrapping up your appointment, particularly with clients between 60 and 65 years of age. This time is also perfect to request referrals - remember, ask for one at a time to respect your client's privacy.
The exception to this rule lies with union workers. Once they trust you, they will eagerly go through their contact lists. Your duty is to make sure everyone has access to valuable information, even if it means conducting mailings across areas and states.