• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
  • FINANCE
  • Video
  • ENTERPRISE
  • TECHNOLOGY
  • ENTERTAINMENT
  • LIFESTYLE
    • TRAVEL
    • HEALTH
  • AUTOMOTIVE
  • SPORTS
  • Write for us
  • HOME
  • NEWS
    • POLITICS
  • FINANCE
  • Video
  • ENTERPRISE
  • TECHNOLOGY
  • ENTERTAINMENT
  • LIFESTYLE
    • TRAVEL
    • HEALTH
  • AUTOMOTIVE
  • SPORTS
  • Write for us
No Result
View All Result
TodayHeadline
No Result
View All Result
Home Finance

5 Ways Advisors Can Increase Sales on Life Insurance

April 5, 2021
in Finance
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter



Life insurance is a subject upon which neither prospects nor financial advisors care to dwell. Product designs can be complex, and events that trigger benefits don’t evoke pleasant images, unlike retirement planning ads that contain sailboats and strolls on the beach.

However, the need for life insurance exists across a large segment of consumers who generate income and borrow money. Finding ways to increase life insurance sales reverts back to some time-tested methods and involves a few new wrinkles to help advisors tap evolving markets.

Key Takeaways

  • Prospective buyers of life insurance are reassured when you know your product inside and out.
  • However, keep your sales presentation simple and brief. Be authentic in your conversation.
  • Building a referral network can help increase sales, as well as sourcing leads via social media.

1. Know Your Stuff

Find a product and learn it inside and out. Prospects are impressed with advisors who possess a thorough knowledge of the contracts they promote. Variable universal life (VUL) policy designs and riders are complex, but educating yourself on features, benefits, and sub-accounts helps move sales opportunities forward. Aimlessly pivoting between products may muddle the presentation.

Develop the habit of conveying policy benefits to potential buyers in plain terms. Rather than using industry jargon and acronyms, discover a way to engage prospects without sacrificing transparency. Buyers need to know what they’re getting. Less confusion at the point of sale aids in sales successes, as well as policy retention.

2. Hone Your Presentation Skills

Putting prospective clients at ease in an appointment setting translates into improved closing ratios. Before launching into a formal presentation, finding some common interests is an effective way to connect with potential buyers. The sales track should be organized, simplified and most importantly, brief.

Avoid dominating the conversation in the sales meeting. Through open-ended questions, involve the prospect in the process and retain interest through interaction. A 2014 study conducted by the Life Insurance and Market Research Association (LIMRA) and Maddock Douglas found that sellers of life insurance needed to be more authentic in their communications. Candid discourse between advisors and potential purchasers helps ease anxiety and facilitate sales.

3. Have a Story

Many seasoned advisors have relatable stories that humanize the life insurance purchasing process. The tales don’t necessarily have to center around tragedy. After all, life insurance policies have living benefits, as well: providing liquidity for an emergency fund or supplementing retirement income.

On the other hand, some buyers are moved by emotion. Parents want to see their children attend college and spouses wish to ease the fiscal burden for their partners. Most advisors have had to deliver a check that helped to stabilize the lives of beneficiaries. Be prepared to tell your story when the proper circumstances arise.

4. Create a Partnership

It’s true that the best advertising is free. Word of mouth goes far in building a client base. Going it alone can be cumbersome, especially when your strengths may extend to financial products and services other than life insurance. If this is the case, pursue a symbiotic relationship with an advisor who specializes in life insurance sales.

The partnership may spawn a small referral network from which sales increase and split commissions flow. Adopting a team approach and creating synergies lets clients know that you are a committed fiduciary.

5. Leverage Social Media

Successful life insurance sales remain a numbers game. The more prospects you solicit, the more likely you are to close deals. With the crush of digital advertising, social media platforms such as Facebook offer an effective means for inexpensively marketing services to thousands of buyers within your geographic area. Nearly 29% of consumers say they prefer to buy life insurance online.

Take advantage of the fact that most people own mobile devices and log in frequently during the day. The era of “smiling and dialing” is over.

 
 
   
Previous Post

Explainer: Why is there a global chip shortage and why should you care?

Next Post

Hundreds of officers may leave Capitol Police, union head warns

Related Posts

How Blood-Clot Rate From J&J Vaccine Compares to Risk of Birth Control
Finance

How Blood-Clot Rate From J&J Vaccine Compares to Risk of Birth Control

Random Reinforcement: Why Most Traders Fail
Finance

Random Reinforcement: Why Most Traders Fail

Florida, Michigan, Texas Are Current Voting Rights Battlegrounds
Finance

Florida, Michigan, Texas Are Current Voting Rights Battlegrounds

DeFi project MOUND raises $1.6 million in funding round
Finance

DeFi project MOUND raises $1.6 million in funding round

Home buyers turn to Bank of Mum & Dad as prices soar
Finance

Home buyers turn to Bank of Mum & Dad as prices soar

Can a developer hike the price of a new build at the last minute?
Finance

Can a developer hike the price of a new build at the last minute?

Next Post
Hundreds of officers may leave Capitol Police, union head warns

Hundreds of officers may leave Capitol Police, union head warns

  • Trending
  • Comments
  • Latest
Expecting another refund after the IRS calculates the $10,200 unemployment tax break? You might want to do more than just wait

Expecting another refund after the IRS calculates the $10,200 unemployment tax break? You might want to do more than just wait

John Lennon: Son Julian Lennon sued Yoko Ono over former Beatle’s estate | Music | Entertainment

John Lennon: Son Julian Lennon sued Yoko Ono over former Beatle’s estate | Music | Entertainment

I lost my job at 55 and started my own successful business. I now constantly get texts from friends and former coworkers asking how I did it. What do I do?

I received two $1,400 stimulus payments because I was also claimed as a dependent. Should I give one back?

U.S. Air Force pilot spotted with Russian patch

Sheriff’s Dispatcher Refused to Return $1.2 Million Accidental Deposit

Sheriff’s Dispatcher Refused to Return $1.2 Million Accidental Deposit

After 30 Years, Delta Is Making a Big Change to Its SkyMiles Program That No Airline Has Ever Done

After 30 Years, Delta Is Making a Big Change to Its SkyMiles Program That No Airline Has Ever Done

My wife and I have 3 kids. I also have 3 kids from a previous marriage. How should we split our house among these 6 children?

My wife drinks and gambles our money away, and my adult stepchildren are deadbeats who do drugs and play video games. What can I do?

Beyonce and Jay Z jet off to Las Vegas to celebrate 13th anniversary

Beyonce and Jay Z jet off to Las Vegas to celebrate 13th anniversary

Mother claims school headmaster forced her Black son to kneel while apologizing to White teacher

Peter Andre reveals his home was broken into THREE times in ONE night

Peter Andre reveals his home was broken into THREE times in ONE night

US power sector is halfway to zero carbon emissions

US power sector is halfway to zero carbon emissions

Whatever Happened to Polarizing Ole Miss Star and NCAA Bad Boy Marshall Henderson?

Whatever Happened to Polarizing Ole Miss Star and NCAA Bad Boy Marshall Henderson?

London borough could ask for volunteers to pay extra council tax

London borough could ask for volunteers to pay extra council tax

Video: Planting the Orchard with Garden Answer!

Video: Planting the Orchard with Garden Answer!

‘It’s one signature’: Biden urged to raise refugee admissions now | Migration News

‘It’s one signature’: Biden urged to raise refugee admissions now | Migration News

Biden officials bracing for possibility of weekslong disruption to J&J vaccine supply

Biden officials bracing for possibility of weekslong disruption to J&J vaccine supply

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

Mother claims school headmaster forced her Black son to kneel while apologizing to White teacher

Peter Andre reveals his home was broken into THREE times in ONE night

Peter Andre reveals his home was broken into THREE times in ONE night

Mother claims school headmaster forced her Black son to kneel while apologizing to White teacher

Peter Andre reveals his home was broken into THREE times in ONE night

Peter Andre reveals his home was broken into THREE times in ONE night

US power sector is halfway to zero carbon emissions

US power sector is halfway to zero carbon emissions

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Home garden
  • Pets
  • Privacy & Policy
  • Contact
  • Write for us
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Home garden
  • Pets
  • Privacy & Policy
  • Contact
  • Write for us
  • About

© 2021 All rights are reserved Todayheadline