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Editorials for Life Insurance

How to Increase Your Monthly Premiums

How to Increase Your Monthly Premiums

You’ve heard me say “we’ve all fallen victim to instant everything.” With all the ups and downs across the country of COVID-19 has only exacerbated this situation as more people are home spending more time online.

The lack of sales in our personal life insurance business has made most of desperate to make a sale. We want to complete a sale using the shortest possible path in the shortest amount of time so we can move on to the next sale. In life insurance that path starts with making appointments, moving on to giving presentations, field underwriting, writing up applications, and closing.

On the surface this seems fine after all our time is money, right?

Selling Families and millennials

Selling Families and millennials

How to help close growing insurance gap

The sudden and devastating nature of the coronavirus pandemic jolted consumers awake to the crucial importance of life insurance and a holistic financial plan. With many Americans experiencing the financial implications that traumatic life events can bring, nearly half are without any or an appropriate level of life insurance.

However, it's crucial for the insurance industry to help close this growing protection gap by recognizing the varying needs of different generations of consumers—from millennials to baby boomers—and understanding how to serve them in different ways to ensure they're covered for life.

Closing the protection gap requires educating customers and taking a tailored approach. Different generations' misconceptions about life insurance can discourage individuals and families from purchasing policies. While some individuals may think they're too young to consider coverage, others may believe that life insurance is too expensive or that policy terms are too rigid.

To set the record straight with clients, agents must explain how each type of life insurance aligns with their specific needs and create a plan for the best path forward. Once this is established, agents must also cater their service model to meet their clients' preferences and expectations.

Here are a few tips to consider when working with specific client groups:

Millennials: Use digital tools. Deliver instant gratification and take a hands-off approach. In general, millennials tend to prefer independence, sourcing information on products digitally and adapt to new technology quickly. Educate them using online calculators, checklists and quoting tools, but also guide them through the process to ensure they are using the correct tools and looking in the right places.

Generation X: Use data. Offer multiple scenarios, including a worst-case, and provide information and research based on facts and statistics. Gen Xers appreciate full disclosure when weighing options, which ultimately gives them a sense of maximum control. Stay connected after the sale because they also value trusting relationships.

Baby boomers: Make it personal. Create face-to-face opportunities and get to know them personally—remember their family's interests, birthdays and hobbies. Boomers appreciate professionalism, experience and accreditations, and prefer to envision a holistic, big picture long-term life plan.

The agent of the future is a proactive advisor in a digital world with less paperwork, better sales tools and simpler processes. Agents who can use digital tools, build trusted relationships and cater to different generations' needs will be well-positioned to boost consumer confidence in purchasing life insurance and their business.

The life insurance industry plays a vital role for families and individuals. Through education, consumers will better understand the value coverage provides. Agents can help close the protection gap by making sure consumers are properly aware of how they can be protected.

The deadliest time of year is coming – are you ready?

The deadliest time of year is coming – are you ready?

We are moving through the AEP season. That means we are also down to the last few weeks before the Holiday season takes precedence in the lives of our clients and prospects. It also means the deadliest time of year is coming upon us…Winter.

The holidays bring up memories of those people close in our lives that passed and will no longer be sitting at the dinner table. You’ve often heard me say life insurance sales depend on the stories we tell. Putting our prospects in the moment, the moment they see themselves out of the family picture and the burden that could be left behind.

Is your IMO acting ethically?

Is your IMO acting ethically?

The first thing we think about when we hear the term “ethics” is our interaction with our clients. After all ethics is part of the CE credits we need every two years to keep our license in force, so we can continue providing our services and make a living.

So why then does ethics go out the window when some IMO’s conduct the business of their agencies?

Don’t get me wrong there are IMO’s that do act ethically in their day-to-day business. Unfortunately, it isn’t the IMO’s that promote recruiting as the first order of business.



Legacy Secure of MI Inc
41000 Woodward Ave, East Ste #350
Bloomfield Hills, MI 48304

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