by lifeagent911 » Sun Dec 28, 2008 11:17 pm
I'm going to tell you a story. I bet this has happened to you, and I'm going to give you an idea that may help you help a client.
I drove about 1 hour from my office to see a prospect. He was a 70 years old male. He had responded back to a piece of direct mailing, and I had set up a meeting with him. Over the phone, I went ahead and asked him a few health questions, and he said he really wants to get some coverage fast. It sounded like it was going to be easy. I get there and start talking with him. I didn't have to talk him into the fact that he needed to buy any life insurance, because he knew that he needed some. We quickly determine that he needs about $50,000 of life insurance. He was worried about sticking the funeral expense upon his son, after he died, and he had a few other areas that needed protecting. Next, I started looking through all of my companies and found him a really cheap price. He looked at the price and told me that was really cheap and a good deal. Here comes the problem. He begins to tell me that he lives on a fixed income, and he could not spend anymore then about $15.00 a month. Of course, I start thinking like any agent in the world. “Man, I just lost the sale, and this guy can't afford it.” At this point, I was ready to give up. But, my father's insurance training kicks into my head. I hear him telling me that I need to stop and find a way to help my client and not to give up so fast. There has to be a way that I can help this client get the coverage that we both know that he needs.
Here was the idea that I came up with. I started asking him about his son, which he was going to leave all the money to from the insurance. The light bulb came on inside of my brain. I needed to talk to the son about helping to pay some or the entire premium amount. The son realized that he would be the one that would be responsible for his father's estate and funeral. The son would clear a little extra money after the funeral. He asked me how much it was going to cost, and then he asked me if we could increase the face amount. Wow!!! I didn't even see that one coming from a mile away.
Next time you run into a client that just can't afford the coverage that they need, think about reaching out to their family members. Most of the time, they are the ones that will get stuck with the bills, and they can even end up asking for more coverage.
I drove about 1 hour from my office to see a prospect. He was a 70 years old male. He had responded back to a piece of direct mailing, and I had set up a meeting with him. Over the phone, I went ahead and asked him a few health questions, and he said he really wants to get some coverage fast. It sounded like it was going to be easy. I get there and start talking with him. I didn't have to talk him into the fact that he needed to buy any life insurance, because he knew that he needed some. We quickly determine that he needs about $50,000 of life insurance. He was worried about sticking the funeral expense upon his son, after he died, and he had a few other areas that needed protecting. Next, I started looking through all of my companies and found him a really cheap price. He looked at the price and told me that was really cheap and a good deal. Here comes the problem. He begins to tell me that he lives on a fixed income, and he could not spend anymore then about $15.00 a month. Of course, I start thinking like any agent in the world. “Man, I just lost the sale, and this guy can't afford it.” At this point, I was ready to give up. But, my father's insurance training kicks into my head. I hear him telling me that I need to stop and find a way to help my client and not to give up so fast. There has to be a way that I can help this client get the coverage that we both know that he needs.
Here was the idea that I came up with. I started asking him about his son, which he was going to leave all the money to from the insurance. The light bulb came on inside of my brain. I needed to talk to the son about helping to pay some or the entire premium amount. The son realized that he would be the one that would be responsible for his father's estate and funeral. The son would clear a little extra money after the funeral. He asked me how much it was going to cost, and then he asked me if we could increase the face amount. Wow!!! I didn't even see that one coming from a mile away.
Next time you run into a client that just can't afford the coverage that they need, think about reaching out to their family members. Most of the time, they are the ones that will get stuck with the bills, and they can even end up asking for more coverage.
Posted: Wed Dec 31, 2008 11:30 am Post Subject: insurance
Are you REALLY trying to "help your client",..or...just get your 'quota'? I wouldn't even DEAL with Insurance agents who rake this kind of 'approach'.
Posted: Wed Dec 31, 2008 11:50 am Post Subject:
I think the important thing here is this...if the client contacts the agent (not the other way around) then when the agent is presenting his wares the client says, 'well crap i'm about 50 short a month on this' then the agent says, 'would your boy be interested in helping pay this?' and the client says, 'he might would you call him and explain it?' ...then good, nothing at all wrong with that approach...if however the agent intrudes presents his product the person says 'nope can't afford it' the agent then calls on family members without the prospects consent and permission...bad, nasty buisness...but again, i can think of an incident in my own family, i had made the decision, to go to my agent and take out a policy on my brother so that when the time came there would be money to cover his expenses and money left for his minor girls...i knew he would go along with me on this, i would pay the premium while we waited on the ineviditable to occur (he was leading a very dangerous life)...i would be the beneficiary, pay for the funeral, recoup my premiums and put the rest for his daughters in trust...but he died the day before i got there (would've been denied as suicide anyway)....but had things not worked out that way, and i could've got the policy on him, and he lived a few more years...(or better yet changed his life and lived 40 or 50 more years) i see nothing at all wrong with this...I saw a problem on the horizon, and a giant financial burden looming....
Posted: Sat Jan 24, 2009 05:00 pm Post Subject:
Lifeagent911, Thank you for taking the time to help me. I learned a lot.
This is a great forum. I'm learning a lot from it.
Posted: Sun Jan 25, 2009 02:35 am Post Subject: insurance
I think EVERYONE learns alot, from this forum: Agents AND Consumers.
Posted: Tue Feb 03, 2009 06:35 pm Post Subject:
I have learned to watch who you get advise from. Some people pretend to be in the insurance business or to have an insurance lic.
I've seen a couple of post on the forum from some people that didn't have a clue as to what they where talking about. I think that each agent should have to give their lic number before giving advise.
Posted: Wed Feb 04, 2009 01:07 am Post Subject:
Ease up wnm352,
I've seen a couple of post on the forum from some people that didn't have a clue as to what they where talking about
We have a hard time with random posters some times..you know people that pop in don't register and just post things they have no knowledge about...I think that each agent should have to give their lic number before giving advise
Well I might agree if the advise weren't free ... :roll:Posted: Wed Feb 04, 2009 12:08 pm Post Subject:
This board also allows the common people and insurance professionals apart from agents to offer offer their suggestions to the posters. And, this arrangement works pretty well for many. Sorry, it didn't happen to you. But certainly I'd expect that an agent to drop into the thread for your help.
And, you should post your grievances in the pub section of the community and not in the middle of an useful discussion.
~Jeremy
Posted: Wed Feb 04, 2009 12:49 pm Post Subject:
Sorry, it didn't happen to you. But certainly I'd expect that an agent to drop into the thread for your help.
Jeremy this poster has no question, nor needs help...just decided to pop in and critize...that's the frustrating part!Posted: Thu Feb 05, 2009 12:40 am Post Subject:
wnm352 wrote:
I think that each agent should have to give their lic number before giving advise.
A250865
It's Florida Public Records.
I think they shouldn't be allow to post anonymousely with mouse being the operative syllable.
If you've got something to say...say it...and own your own words.
Name of Licensee: SPICUZZA, GARY DAVID
License #: A250865
Business Location: HOLIDAY, FLORIDA
Agent In Charge Name : GARY SPICUZZA
Agent In Charge License Number: A250865
From THIS LINKY!
Posted: Wed Feb 11, 2009 08:22 am Post Subject:
the bottom line is...HELPING PEOPLE. THE MONEY IS GOOD TOO. SO WHEN YOU CAN DO BOTH... job well done.
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