Secured Benefits Group

How often do you get a lead and you think " What can I possibly do for this one?!?"

 

Chances are good you are dealing with a prospect who is:

 

1) 65+ years young

2) Has Serious Health Issues

3) Or Both

 

Ironically Some agents would choice to not even try but this is where I get a lot of my biggest sales and here is a Step-by -Step Process of how.

 

Step 1) Find out what they already have FIRST before you recommend a new sale..  

Knowing what they have or don't have and what premiums they are already paying, as well as  options they might have available to them, this will open up a lot of doors and discussion points. Make it clear that in order to do your best job for them its important that you have details as to what they already have.

To do this be prepared to have them look for;

a. a copy of the current policy ( they can find this less than 50% of the time so be prepared to move to step b and c

b. ask them to look at their bank statements to see who the policy is with and then call that carrier with them and get the details.

c. Ask if they get a statement once a year.. if they say yes it most likely a UL.

 

Now that this is done you might find they have:

a.) Other coverage that will go up in price and they are or are not aware. Commonly I find AARP policies that are being purchased and the policy holder does realize that it is very frequently a 5 year group term that offers no coverage after age 80! The ask them do they think there is a possibility that they will live longer than that.

 

b) Other coverage with a carrier that we can help them with. I have taken over polices from Banner, Protective, AIG, LSW, Transamerica, MIdland,North American, Lincoln Financial,Mutual of Omaha and did the conversion for them and gotten paid the commission on it. We have A LOT of carriers, get the details of what they have and call me and I'll point you in the right direction.

 

c) A policy that is more expensive than what we can offer or without living benefits. 

Living Benefits are a game changer, talk about then, your clients will want it.

 

Final Step 2.) Now make your recommendations and Be prepared to use the following products:

 

a) Simplified Issue Whole Life- My personal favorites are Transamerica, United Home Life. Trans goes to age 85, UHL can be sold over the phone rates are about the same premium with a 2 year look back and immediate benefit. 

b) A fully UW Product that is highly competitive in price and/or offers living benefits. My Favorites are North American, Mutual Trust Life and Transamerica. Ameritas for best Living Benefits.

c) A Guaranteed Issue WHOLE LIFE, UL or TERM Policy- My favorites are AIG and Transamerica Worksite. UHL and Gerber also have them.

d) Annuities. My favorites are North American, American National, Athene and Equitrust. 

e) An Accidental Death policy. Some coverage is better than none and if you make them a client you can help with other needs and family members. I like Assurity Acciflex or Mutual of Omaha if they are 61-70. I also like the accident plan with Washington National to age 69 for Accidental death and aflac like benefits at a fraction of the cost.

f) Funeral Expense Trust with NGL. Safe guard their assets from the medicare spend down with no 5 year look back.

g) A Single Premium Whole Life/ IUL. Take cash value they have in another plan and Offer a Higher Death Benefit, They might like to stop their payments as they entire retirement. I like Assurity for small ones and North American on the bigger ones.