Articles

I’ve been in this industry for more than 20 years and every year, companies conduct surveys to find out why clients typically leave their financial advisors. As far back as I can remember, the #1 reason each year has been the same: lack of communication.

First things first. Opening an insurance sale is an art with an endless variety of approaches involving client needs and objectives. Despite the tendency of some advisors to gloss over this phase of a case, it’s essential to consider them before delving into the underwriting requirements. A proper handling and understanding of what the client and advisor […]

There’s a huge change in the market for U.S.-based life insurance products to foreign nationals. In the past, that was a narrow marketplace. With little or no interest among life insurance carriers, much of the non-U.S. resident business was left to off shore-based insurance carriers. Now, with broader distribution relationships and a far more engaged U.S. […]

Advisors are always looking for new business. As something of a twist, I’ve been finding it for them in their old business. While reviewing in-force term policies at my company, First American, I check for conversion expiration dates and end of level period dates. It’s turning up lots of business opportunities for advisors. I remind advisors that a […]

Field underwriting can be a challenge for advisors who sell life insurance or other products that involve questions about the clients’ health. Clients may present themselves as healthy and vigorous, even though there may be underlying medical issues that can impact the outcome of a case. By being observant and asking pertinent questions, advisors can […]

Let’s be frank, picking low-hanging fruit suggests going after the easy sales. The ones just waiting to be plucked. All you need to do is reach out and grab them. There’s one more step in life insurance sales. You need to know where to find the low hanging fruit. When you do, you’ll discover more […]

Impaired risk underwriting isn’t what it used to be. Advances in medical technology, big data, and information sharing are transforming it from a 1970 Plymouth into tomorrow’s Tesla. The dramatic changes are ushering in new processes, assisting with creating enhanced metrics, and opening the way for underwriting methods that are innovative, refreshing, and far-reaching—for both […]

If your prospecting is mainly with the age 55-80 group, you know it’s not what it was even a few years ago. “Almost tapped out” is the way some advisors are describing it. If your practice is feeling that pain, there’s a way to reach a broader, motivated, and largely untapped audience—consumers age 36-55. To […]

Why should broker dealers bother having advisors market life insurance products? If this is the question, it’s the right one. No matter how you look at it, you may have more than enough on your plate now, so why get involved with life insurance, particularly when the product line is so different from what your advisors do […]

Overall, most parents in or near retirement want their children to have it better than they did, but times have changed. We have transitioned from a society of savers to one of debtors. This means that many members of my age group, Generation X (ages 39 to 53), are faced with trying to keep their heads above […]

Field underwriting can be a challenge for advisors who sell life insurance or other products that involve questions about the clients’ health. Clients may present themselves as healthy and vigorous, even though there may be underlying medical issues that can impact the outcome of a case. By being observant and asking pertinent questions, advisors can provide clues […]

“Just get me $2 million of term at the lowest price,” says the client. “That’s what I need.” Advisors have heard these words time and time again. It’s the classic life insurance transactional sale in which nothing matters other than price. Asking for a low price makes good sense because that’s how most people buy stuff . […]

We’re all familiar with the formula for success in a new year. We’ve heard the same words every year. They go something like this: Make more calls, talk to more prospects, prepare better proposals, and work harder than ever. While every advisor can benefit from such advice, it may not be enough. Even though advisors may know […]

Most consumers think of term life when buying life insurance. “Why not?” they say. “It’s a commodity like auto insurance or socks.” Find the lowest price, push the “Buy Now” button, and you’re done. Easy. Consumers are not alone, life insurance agents often think the same way. That’s not good. Both lose when that happens. […]

Most salespeople know the value of a positive attitude. They expect the best and they focus on closing the sale. They prepare themselves for a “yes” from customers. Unfortunately, they’re not so ready for a “no.” They try to keep the conversation going but it doesn’t work. Click here to read full article.  

People who say they want life insurance but don’t get around to buying it oft en point to one reason: “the dread factor.” They picture the experience as time-consuming, drawn out, difficult, and worst of all, expensive. Most assume life insurance costs far more than it does. In other words, good prospects are oft en turned away […]

If your prospecting is mainly with the age 55-80 group, you know it’s not what it was even a few years ago. “Almost tapped out” is the way some advisors are describing it. If your practice is feeling that pain, there’s a way to reach a broader, motivated, and largely untapped audience—consumers age 36-55. You […]

Everyone in the life insurance business knows there are attractive opportunities in the Foreign Nationals market. But it isn’t just the size of this market, which continues to grow, but the prospects have what every life insurance producer dreams about: need, urgency, and means. If that isn’t enough, it’s a market offering the possibility of […]

To be successful in selling life insurance, some advisors think that being aggressive is the way to succeed. Others feel that it takes a certain charisma. It’s time to put such thoughts to rest, since neither is necessary nor appropriate. What works best is a well-organized, logical, and professional sales approach that fits the individual […]

Your client claims to be in great health and there’s no reason to doubt it. So, why wouldn’t you expect the case to sail through underwriting? In your mind, you’ve already banked the commission…Not so fast. It may not be that simple. As it turns out, there are unexpected twists and turns in a majority […]