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My opinion is that all those types of services CAN work if the agent wants to build his presentation around them but they are all over promising and under delivering in reality. And the big thing is...they are all totally unnecessary.
People just want to buy life insurance. They want to get a locked in price, 1st day coverage if possible, and the most death benefit they can get for the least amount of premium. And that is EXACTLY what your presentation should be built around.
The Lincoln Guardian gizmo is obviously sellable because they close a lot of premium with it. But it doesn't build any extra value. Every time an independent agent goes in a home that owns Lincoln coverage he gets excited because he knows that barring recent changes in their health he is about to make a sale by replacing the Lincoln.
The Senior Life one is sellable. I do not doubt Greg's sincerity that he closes more sales with it than without it. But in reality, it is NOT guaranteed by Senior Life or the policy they bought. It's just a very clever way for a Mexican (or Chinese) casket company to sell their caskets at high prices today (compared to Costco, E-Bay, etc.) because they look like low prices when compared to the American name brand caskets that most funeral homes carry (Batesville and Aurora) but they are really charging the top going rate for import caskets. Then years from now when inflation has taken it's toll and they can't profit off those prices anymore they just close the discount casket retail company down (as the contract clearly states that they can do at any time) and your Senior Life policy is still fine and dandy just like it always was but no more guaranteed price lock in on the casket. This has been done over and over in the insurance industry. It works. It gives people the warm fuzzies if presented correctly. But it's not real.
The Legacy Safeguard is basically a workbook to fill out (or an online version now days. ) It's just an organizer.
Face it people don't want to pay extra for that stuff when it gets down to it. My little bitty IMO (FexContracting.com) has been hugely successful just doing the simple presentation of Do you want life insurance? Would you like to see if we can qualify you for a lower cost for your coverage?
We are in a rare group of IMOs that does a lot of premium with a small number of agents. And we have persistency that is so high that most agencies can't even believe that it's true. And our business model is the easiest one to clone. Just give agents their fair commission %. Don't play games with them. Train them on how to sell a lot of insurance. By guys who have actually sold a lot of insurance. Give them access to leads that work. Because they can talk openly with dozens of successful agents that have worked that exact same lead year after year with success. Keep everything simple and obvious.
Yet you have agents every day dreaming up "extras" that they think will be a magic bullet. Hey what if I start giving them a case of Campbell's soup when they buy a policy.
My advice, any of those things is not going to hurt you if you think you need them. But make your presentation and sale around SELLING LIFE INSURANCE to people that want to buy life insurance. And getting them more value for their money (meaning more death benefit for what they are paying) trumps any gimmick that anyone will ever come up with.
People just want to buy life insurance. They want to get a locked in price, 1st day coverage if possible, and the most death benefit they can get for the least amount of premium. And that is EXACTLY what your presentation should be built around.
The Lincoln Guardian gizmo is obviously sellable because they close a lot of premium with it. But it doesn't build any extra value. Every time an independent agent goes in a home that owns Lincoln coverage he gets excited because he knows that barring recent changes in their health he is about to make a sale by replacing the Lincoln.
The Senior Life one is sellable. I do not doubt Greg's sincerity that he closes more sales with it than without it. But in reality, it is NOT guaranteed by Senior Life or the policy they bought. It's just a very clever way for a Mexican (or Chinese) casket company to sell their caskets at high prices today (compared to Costco, E-Bay, etc.) because they look like low prices when compared to the American name brand caskets that most funeral homes carry (Batesville and Aurora) but they are really charging the top going rate for import caskets. Then years from now when inflation has taken it's toll and they can't profit off those prices anymore they just close the discount casket retail company down (as the contract clearly states that they can do at any time) and your Senior Life policy is still fine and dandy just like it always was but no more guaranteed price lock in on the casket. This has been done over and over in the insurance industry. It works. It gives people the warm fuzzies if presented correctly. But it's not real.
The Legacy Safeguard is basically a workbook to fill out (or an online version now days. ) It's just an organizer.
Face it people don't want to pay extra for that stuff when it gets down to it. My little bitty IMO (FexContracting.com) has been hugely successful just doing the simple presentation of Do you want life insurance? Would you like to see if we can qualify you for a lower cost for your coverage?
We are in a rare group of IMOs that does a lot of premium with a small number of agents. And we have persistency that is so high that most agencies can't even believe that it's true. And our business model is the easiest one to clone. Just give agents their fair commission %. Don't play games with them. Train them on how to sell a lot of insurance. By guys who have actually sold a lot of insurance. Give them access to leads that work. Because they can talk openly with dozens of successful agents that have worked that exact same lead year after year with success. Keep everything simple and obvious.
Yet you have agents every day dreaming up "extras" that they think will be a magic bullet. Hey what if I start giving them a case of Campbell's soup when they buy a policy.
My advice, any of those things is not going to hurt you if you think you need them. But make your presentation and sale around SELLING LIFE INSURANCE to people that want to buy life insurance. And getting them more value for their money (meaning more death benefit for what they are paying) trumps any gimmick that anyone will ever come up with.
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