Life Insurance….does it make you a little crazy sometimes?
If you’re a captive agent, you probably have a certain amount of life and financial production that you must sell each year. And many of you will wait until about November to start thinking about it!
The problem is that those of you most focused on P&C, sometimes have trouble keeping the Life processes in place. And selling Life is typically a longer and more involved process.
BUT we’re not going to make EXCUSES.
Right now, it’s only May! You’ve got lots of time to get your numbers accomplished now so you don’t have a big mess and headache to deal with at the end of the year.
Make It Part Of Your Sales Process
If you market yourself as a full service agency, then you need to be educating your clients and life insurance and WHY they need it.
First, you need a target market. In my own opinion, families with young children are a great market. They have a need, they are younger and get better rates, and they are less likely to have health issues.
While you may not have a way to find out if your clients have kids, you could simply target any married couple under the age of 40 for starters.
These people go on your “Hot List.” You want to be hitting them consistently with the life insurance message several times throughout the year. Make a goal to contact them every quarter to start.
Send a postcard. Give them a general quote and mail it out. Follow up with a phone call. Make sure they understand how simple and affordable it is! It doesn’t have to be complicated, just keep doing something on a regular basis and reaching out.
The problem is that, unlike auto insurance, a potential client doesn’t have to have life insurance. That push isn’t there so people tend to put it off. Therefore, while an auto policy might sell in two days, a life policy could take two months.
Remember to educate your clients. That’s what you’re there for! They aren’t insurance experts and don’t always know what to look out for. Are they carrying life insurance through work? It’s probably not anywhere near as much as they need and it won’t transfer if they change jobs. Does the husband have coverage but not the wife because she’s a stay at home mom? Educate them on the reasons why moms need coverage too (to replace the cost of child care, etc).
I know I say this a lot, but these things need to become part of your standard “way of doing business.” You’ll truly help protect your clients, you’ll fulfill your business needs, and you’ll have a lot less stress along the way. Check out the Life Insurance Promotion Kit for more ideas!
