It all depends on whether you want them to buy from you again. I hand deliver most of my policies. The only ones that I mail are the ones that can't be seen for one reason or another. We sometimes refer to the policy delivery as the "resale" appointment. This gives you the opportunity to solidify the reasons why they bought their policy and how it fits into their financial plans for the future. I also review the features and values of their policies. If it is a permanent life policy, I go over the non-forfeiture values. If it is a term policy, I emphasize the importance of future reviews of their policy to make sure it is still protecting their family's financial interests and I insist that they try to convert it to a permanent policy in the near future. It is also important to establish an ongoing relationship with your client so that other need can be addressed as well. You want to make appointments in the future to explore disability income insurance, Long Term Care insurance, College Funding for the children or Annuities and investment plans for retirement. I usually make these appointments upon delivery of their life insurance policy. I sure would like to be the advisor who comes in behind the agents who told you to just mail the policies! They won't have those policyholders for very long because they failed to take the opportunity to build a professional relationship with them.
Delivering the Policy
- Thread starter thomasm
- Start date
- 5,309
If you didn't "sell" the policy on the first, appointment, what makes you think your second time through is going to "solidify" the sale.
Who's to say if the policy wasn't sold on the first appointment, that it will be solidified and sold on the second?
Who's to say if the policy wasn't sold on the first appointment, that it will be solidified and sold on the second?
You are missing the point here! If the life insurance policy has been fully underwritten, it could take between 4 and 8 weeks to get it issued and delivered. [If you're luck!] Most policyholder forget many of the details about their policy and I try to review and emphasize the importance that this policy has toward meeting their financial objectives. I think it is good PR for the agent and it solidifies the trust that was initiated during the sales interview. This is what distinguishes an insurance salesman from an financial advisor. I have clients that have been with me for over 20 years. They come back to me because they trust me and respect my advice. They also refer me to other people. However, if you are only motivated by selling as many policies as you can in order to make as much money as you can, I can see where my method could be a nuisance
and counter-productive. You will have a much higher attrition rate than me but you will make lots of money. You will also have advisors like me coming in behind you and replacing most of your business!
and counter-productive. You will have a much higher attrition rate than me but you will make lots of money. You will also have advisors like me coming in behind you and replacing most of your business!
- 19,673
I deliever my policies but I see a lot of nonsense in your post.
Sounds like marketer talk. Do you realize you are posting in the FE forum?
I do agree that delivering policies will solidify sales, build relationships and present cross selling opportunities. What you said about "this is what distinguishes a insurance salesman from a financial advisor", is wrong. Your professional licenses are what distinguish an insurance agent from a financial advisor. Unless you hold your securities licenses, you are not a financial advisor.
Good, I was just referring to how you posted it. It sounded like an "insurance salesman" was inferior to a "financial advisor". I would venture to say I know, and many other insurance only agents know a good amount more about insurance products than most financial advisors do.
I've had my life insurance license for 40 yrs. I'm not demeaning in any way the value of life insurance agents. I'm referring to how we are perceived by our prospects and potential clients in the market place. "Are you just trying to sell me something or are you really trying to help me" is always in the back of the minds of everyone we approach. I am trying to project the image of someone who primary concern is helping them to uncover and provide solutions to their financial problems using the many insurance products available to my agency.
It sounds like you work with clients of all ages. Since this is the FE forum, it will work a little different for these agents. While you are very correct in the, "Are you just trying to sell me something or are you really trying to help me?" question and going back over the basics of the policy, an agent shouldn't get too complicated with it.
The seniors we deal with don't need a financial advisor. They don't usually have too much finances to be advised on!
