POLICY REVIEW

50% OR MORE OF YOUR ANNUAL INCOME WILL COME FROM HELPING PEOPLE THAT ALREADY HAVE INSURANCE IN PLACE. 

*8 POTENTIAL REASONS TO REPLACE OR ADD COVERAGE

1. MORE: THEY MAY NEED MORE COVERAGE. THE FUNERAL IS LESS THAN HALF OF THE FINANCIAL CONCERN. THERE IS LOST INCOME, MEDICAL BILLS, INHERITANCE, HOUSING, STORAGE, TRAVLE, HOME, CAR, CONT...

 

2. LOANS: THEY MAY HAVE LOANS AGAINST THEIR CURRENT POLICY WHICH REDUCES THE DEATH BENEFIT BY THE LOAN AMOUNT AND ALSO THE ANNUAL INTEREST. POSSIBLY SALE THEM THE "FRESH START PLAN"

 

3. COST: IF YOU CAN SAVE THEM MONEY AND PROVIDE EQUAL OR BETTER COVERGE. 

 

4. WAIT PERIOD: THEIR CURRENT POLICY HAS THEM IN A TWO YEAR WAIT PERIOD AND YOU CAN GET THEM IMEDIATE COVERAGE.

 

5. PAID UP: IT MAY BE IN THEIR BEST INTEREST TO ACCEPT THE PAID UP OPTION ON THEIR WHOLE LIFE OR UL POLICY AND GET MORE COVERAGE. WHICH MAY INCREASE THE TOTAL AMOUNT OF INSURANCE FOR LESS OR EQUAL PAYMENTS

 

6. CASH OUT: IT MAY BE IN THEIR BEST INTEREST TO ACCEPT THE CASH VALUE, USE IT TO CATCH UP ON BILLS AND GET A NEW POLICY

 

7. AGENT INTEGRITY: THE PREVIOUS AGENT MAY HAVE LIED ABOUT TOBACCO USE OR MEDICAL HISTORY.

 

8. TERM, UL, ACCIDENTAL: DEPENDING ONTHE PERSONS NEEDS. YOU MAY RUN INTO PEOPLE THTA HAVE A TYPE OF INSURANCE THAT IS NOT FITTING FOR THEM. 

 

* IT IS CRUCIAL THAT YOU DO NOT PUT THE CUSTOMER AT RISK OF LOSING AN INFORCE POLICY FOR A LESSER POLICY. ONLY REPLACE A POLICY IF YOU WOULD DO THE SAME THING FOR YOURSELF AND YOUR LOVED ONES. CALL MANAGER IN HOME. 

COMMON COMPETITORS AND THEIR PRODUCTS

1. IN THE MAIL, OVER THE PHONE AND ON TV CARRIERS ARE ALMOST ALWAYS INCREASING TERM POLICIES WITH 2 YEAR WAIT PERIOD

        - AARP/NEW YORK LIFE

        - GLOBE

        - PHYSICIANS MUTUAL/PHYSICIANS LIFE

        - COLONIAL PENN

2. OVERPRICED WHOLE LIFE CARRIERS

         - LINCOLN HERITAGE

         - AMERICAN NATIONAL 

         - RELIABLE 

         - BANKERS LIFE

3. ACCIDENTAL ONLY

         - BANKS AND CREDIT UNIONS

4. TERM AND UNIVERSAL LIFE

                 - THE NAME BRAND CARRIERS LIKE STATE FARM, PRUDENTIAL, MET LIFE

                 - PRIMERICA IS TERM

            

UNCOVERING AND REVIEWING THE POLICY

AGENT: HOW MUCH DO YOU PAY FOR YOUR CURRENT LIFE INSURANCE [HEAD DOWN READY TO WRITE]

 

CUSTOMER: $38 FOR $10,000 (AGAIN BUYERS ARE LIARS SO DONT TRUST THE FIGURES THEY GIVE YOU, JUST WRITE IT DOWN)

 

AGENT: GREAT!, MOST OF THE FAMILIES I HELP, HAVE SOMETHING IN PLACE, THEY USUALLY KEEP THEIR POLICY SOMEWHERE LIKE A FILING CABINET, DRESSER OR UNDER THEIR MATTRESS. WHERE DO YOU KEEP YOURS? [HEAD DOWN READY TO WRITE]

 

CUSTOMER: ITS IN THE BACK ROOM THERE.

 

AGENT: [WITH HEAD DOWN] PERFECT, GO GRAB IT FOR ME REAL QUICK I HAVE TO SHOW YOU 2 THINGS REAL QUICK. (IF THE POLICY IS MISSING OR NOT AT THE HOME JUST CALL THEIR COMPANY ON SPEAKER PHONE AND ASK QUESTIONS ABOUT POLICY) (ALSO CALL MANAGER IN HOME)

 

SETTING THE STAGE: WHEN THEY BRING THE POLCIY BACK, SIMPLY ACT UNAMUSSED WITH YOUR HAND OUT. WHEN THEY HAND IT TO YOU.. SET THE POLICY OFF TO THE SIDE LIKE IT DOESNT MATTER AND CONTINUE WITH EDUCATING THEM ABOUT TERM, UL AND WHOLE LIFE. 

 

ONCE YOU FINISH EDUCATING THEM ABOUT THE TYPES OF POLICIES, ASK THEM WHAT THEY WANT, MAKING IT OBVIOUS THAT WHOLE LIFE IS THE BEST OPTION FOR THEM (IF IT IS). AFTER THEY ANSWER SIMPLY SAY; "GREAT LETS SEE WHAT YOU CURRENLTY HAVE." AT THIS POINT ITS JUST NEGOTIATION AND VALUE ADD.  

"Happiness does not come from doing easy work but from the afterglow of satisfaction that comes after the achievement of a difficult task that demanded our best." THEO ISAAC RUBIN