I'm delivering policies tomorrow. To be honest I sometimes feel a little nervous doing this. ("What if they changed their mind?") Keep in mind it's typically been 2-3 weeks since I last sat down with them. Anyone have advise on a good policy delivery process. Sometimes I feel like I have to start the sales process all over again! Should I first spend some time reminding them why they took out FE in the first place? Get them to tell me their "why" again? Also, I go over the policy thoroughly with them making sure they understand everything. It almost as if I read the whole thing verbatim cover to cover! Is this overkill? What are the main things you focus on when explaining the policy? Just curious how some of you veterans handle this final stage of the FE sale!
Delivering the Policy
- Thread starter thomasm
- Start date
- 9,744
1. Get a big envelope.
2. Get postage.
3. Mail the policy.
It's SERIOUS overkill. You are under no obligation to answer unasked questions! What makes you think you can make them "understand" everything? There's only ONE thing to "understand"; when their death occurs, the beneficiary gets the DB to use for final expenses.
Agree with moonlight. Keep it simple sir (KISS)
- 30,592
Policy delivery IS part of the sale. That's when you cement the sale. That's also when you sometimes conserve the sale in case they're having buyers remorse, or if there's been any interference by another agent, a friend or a family member. The sale is complete after you've delivered the policy and the free look period is over.
I think you're over doing it. You only need to summarize. Remind them why they bought the policy...how much the premium is...how they pay it and how long...the effective date...explain the cash value and any non-forfeiture values the policy has and how they work. Also explain any riders, such as the accelerated benefit rider. In the case of a graded or modified policy, you need to make sure they understand how that works.
Then ask them if there's anything they don't understand, or if they have any questions. The whole thing shouldn't take more than 10 minutes.
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- 19,673
I deliver my policies simply because that's where I get many more writes. Just yesterday I wrote 4 applications for a little over $2000 ap at a poli deliver.
I disgree that it's part of the sale. I've had 1000's of poicies mailed direct by the companies that are still on the books. And if one is having to cement the sale at policy delivery then it wasn't sold to start with.
On the outside of the policy book I write the death benefit, the premium amount and the draft date. Those are the only 3 things the person cares about and wants/needs to know.
The 4 writes was at one house yesterday. I delivered another that took about 5 minutes. But he wants me to review some Globe policies he has on his grandchildren. He couldn't find them so he called Globe and asked them to send him copies. That's most likely going to turn into more business.
That's why I deliver.
I disgree that it's part of the sale. I've had 1000's of poicies mailed direct by the companies that are still on the books. And if one is having to cement the sale at policy delivery then it wasn't sold to start with.
On the outside of the policy book I write the death benefit, the premium amount and the draft date. Those are the only 3 things the person cares about and wants/needs to know.
The 4 writes was at one house yesterday. I delivered another that took about 5 minutes. But he wants me to review some Globe policies he has on his grandchildren. He couldn't find them so he called Globe and asked them to send him copies. That's most likely going to turn into more business.
That's why I deliver.
- 30,592
I've always looked at delivery of the policy as the 2nd part of the sale. I know you focus on FE, but I cross sell other products. If I can't get additional sales on the initial meeting, then it's sometimes easier when delivering the policy. I agree with you about getting the referrals when delivering the policies.
I haven't seen them for a while, but the Globe policies on the grandkids might be modified whole life that turns into a permanent policy at age 26...and the premiums go UP.
- 1,206
I just show them the page that shows level db and the level pay.
I say "see, just like I told you, your policy will not end and your payments won't go up.!"
Any questions?
I say "see, just like I told you, your policy will not end and your payments won't go up.!"
Any questions?
- 9,744
Have you delivered on both of your sales this year?
