Evaluating client relationships is a vital aspect of running a successful agency. With every client, you have to determine the long-term value. Will this client be worth your time and energy? The cost of maintaining a client relationship should never outweigh what you get back. Traditionally, the most valuable clients are those that are decision-makers and need multiple policies. Ambitious clients with the potential for continued growth. The more policies, the stronger the bond between client and agent. While selling single policies may not seem advantageous, one policy holds more weight and value than other policies, and that’s the life insurance policy. If the goal is to build strong, long-term client relationships, selling life insurance should be a priority
Because we tie life insurance to death, many clients shy away from the discussion, thinking that it’s not an immediate necessity—that it only kicks in when a worst-case scenario happens.
Life insurance benefits are hard for clients to grasp, especially younger clients, and creating the urgency to invest in life insurance is difficult. When you approach clients with investing in life insurance, emphasize the many living benefits life insurance can provide.
Lead a life insurance sales pitch by pointing out the living benefits of a life insurance policy. How a life insurance policy accumulates over time, building cash value, and gives clients access to the money while they’re still alive. Always sell insurance on the value, and clients will be more amenable to listening and considering a life insurance policy. Clients need to relate to the benefits; the more you can personalize your life insurance sales pitch, the more likely you will close.
Life Insurance for Younger Generations
For the younger generations who have not yet committed to a home, car, business, etc., and don’t feel like insurance is essential to their lifestyle, your best sales point is to show them how a life insurance policy is precisely what they need for a life in flux. Life insurance will follow them wherever life may lead. Life insurance is tied to the person, not a piece of property, car, business, or location.
Another concern for the younger generations is the cost of an education. While life insurance won’t change that, it can help get college tuition loans—another attractive living benefit.
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