The trend in disability insurance is to sell multiple policies in one place, rather than single policies. Carriers who are able to benefit from multi-life business and the high-quality customers it brings, find this trend a good business move. Insurance agents also find it beneficial in terms of increased persistence, higher commissions and additional sales when new employees join the program.
Learning to make multi-life sales is not an easy task. It may be necessary to completely rethink the way you present disability insurance sales, starting from the beginning. There are many options for multi-life sales, including employer sponsorships, association endorsements, and guaranteed issue plans.
Focus on client involvement and a sales approach.
Combination sales are a great way to sell disability insurance. It is suitable for a variety of situations and blends individual non-can with group long-term disabilities. This creates an insurance plan that meets the needs of your clients. It is important to design a cost-effective package of paycheck protection that maximizes benefits and minimizes limitations. Combining the right combination will provide flexibility and portability for key employees, as well as simplicity and economy for others. Your client is the first step in creating the best disability insurance plan.
Client involvement allows clients to be involved in the disability insurance program. This makes it very difficult for others to criticize the work done. Clients are reluctant to dismantle an insurance package they have purchased. You can also be certain that you’re delivering the results they want by having clients share in creating their income protection plan.
It is important to understand the client’s needs before you can involve them in the design of an income protection plan. It is important to ask questions and listen to your client. Listening is the first step in identifying your client’s needs and creating the right plan. While you can always add benefits or underwriting concessions to your case as it develops, it is important to first understand what your client wants. You risk losing the sale to someone who listens better.
Client involvement also requires that you are familiar with the person you are dealing with. Many disability insurance sales are lost because the agent can’t get past the gatekeepers. Do not spend your time talking to people who aren’t able to make decisions. It is important to involve the owner or key decision-maker early.
Education is another way to engage clients in the design of disability insurance plans. Clients often don’t know what options are available and can’t decide what they want. Do not assume that your clients know all the details about their coverage. You will approach them with the mindset that you are going to educate and help them create a program for paycheck protection that is in their best interests.
Employers should encourage their key employees to be rewarded with valuable protection plans for their paychecks.
Companies are focusing on productivity and streamlining their processes. They also take a closer look to who is the key. They are more open to doing extra things to bring valuable employees closer.
You must be familiar with the programs and products of disability insurance in order to inform the client about the available options and the different combinations. Make sure you are educated before you go. Find a representative who is knowledgeable about both individual and group DI products. Also, find a reliable disability insurance carrier. This will allow you to discuss your plans with clients and help you create the best combination plan.
Only after you have fully understood your client’s needs and profile, and then matched them with the appropriate benefits and concessions, can you create the right combination of disability insurance and plan. Make sure the plan is presented in an attractive format that is easy to read.
You can work closely with your client to create a disability plan for your client that offers the best protection at the most affordable price. Watch your sales of disability insurance grow!
