One the most frustrating aspects for insurance agents moving from Final Expense products to Mortgage Protection products is understanding the underwriting. All of a sudden your cases are being inundated with questionnaires, table rated, or worse declined. In fact this frustration has led many agents to leave the industry altogether as they are battling chargebacks from final expense and declines from mortgage protection.
Today we are going to be talking about four steps that will help you close more life insurance applications in the mortgage protection market. You may find that these steps will also translate into more sales in other markets as well.
I am going to make a couple of assumptions, one is that you have quality leads to work and two, you’ve already set the appointment are ready to speak to your prospect. You also understand that mortgage protection is a one-call close.
In the second part of delivering a great mortgage protection presentation we’ll continue with our in-home conversation. The design of this presentation is to provide you with natural shifts in your conversation so you can stop to answer any questions along the way without missing a beat.
Now that you have explained the different goals of having multiple life insurance plans it’s to move into the field underwriting potion of your presentation.
There are three tragedies everyone needs to think about: disability, illness and death. Any or all could strike at any time with death being unavoidable. The best option to prevent inevitable hard times is to prepare early so they are not as tough as they could be.
This is where selling Mortgage Protection life insurance proves itself as a valuable solution. By covering a family's most valuable possession, it can bring peace of mind. Policy owners or beneficiaries can receive lump sum benefits or monthly payments that protect against the financial devastation that the unexpected loss of income will bring.
