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How to Sell Life Insurance
Apr 30, 2013
One of the most lucrative insurance policies for agents to sell is life insurance because some policies will actually last for the rest of the client’s life and tend to be fairly large.
Because people have big expenses like cars and homes with mortgages and children to take care of, they need a way to protect their families in case they pass away unexpectedly. This is what life insurance does.
Life insurance is intended to keep those who depend on you financially living in the way that they are accustomed. This means that the bigger your bills and more affluent your lifestyle, the more insurance you should consider carrying.
And life insurance is presented and marketed that very way. It is an absolute necessity for anyone with debt and even more so for anyone who has a family to take care of because life is so unpredictable.
In reality, life insurance is a genuinely good and important product. Even those who do not work in the insurance industry advocate buying life insurance when you start a family.
This kind of emphasis on life insurance by credited and important personal finance experts really helps the selling of life insurance. Testimonials like these show the general public that life insurance has merit as a product and is actually designed to help and protect the policy’s beneficiaries.
Agents and brokers who sell life insurance policies take this information into account and often quote financial experts about the importance of life insurance. But if potential customers are already talking to an agent, they probably already understand the importance of life insurance and just need to understand what type of policy would work best for them.
In truth, the actual selling of a policy can be relatively easy. The most difficult part of the process is finding the customers.
There are two ways to go about this: marketing and advertising. Although they tend to be different departments, marketing and advertising work hand in hand. Advertising is anything from ads in newspapers or magazines to television commercials to billboards. Anything that will expose a company or more specifically a product is considered advertising.
Marketing is the more hands-on version of promoting a product. Often confused with advertising, marketing often comes down to simply telling people about a product. After all, there is no stronger sales method than word of mouth.
But even when you are using both marketing and advertising, it can still be difficult to draw people to an agency to buy life insurance. There are so many different agencies that seem so similar that potential clients may have a hard time distinguishing among them.
So the third hidden factor in selling life insurance is the reputation of your agency. If your agency genuinely does a good job, eventually people will find out about it and do more and more business with you.
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