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NWInsurance
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NWInsurance= NW (the great northwest)
I can see how you put that togehter.
I can see how you put that togehter.
Life Insurance... What is your flavor?
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Getting some snow your way?
WL, because it is easier for my clients to understand. They grew up hearing about it, they don't have to learn something new.
I learned long ago that there may, in fact, be a better solution to a client's need. But if the client wants WL, and not UL or VUL, then I'm going to let them have WL. What's better; a VUL or UL that stays on the books three years or a WL that stays on the books forever?
I learned long ago that there may, in fact, be a better solution to a client's need. But if the client wants WL, and not UL or VUL, then I'm going to let them have WL. What's better; a VUL or UL that stays on the books three years or a WL that stays on the books forever?
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"What's better; a VUL or UL that stays on the books three years or a WL that stays on the books forever?"
That's a loaded question. So is this one:
What's better? A VUL or UL that stays on the books for three years or a WL that stays on the books for three years? In that case, probably the VUL or UL since the client saved a bunch in cash outlay.
That's a loaded question. So is this one:
What's better? A VUL or UL that stays on the books for three years or a WL that stays on the books for three years? In that case, probably the VUL or UL since the client saved a bunch in cash outlay.
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NWInsurance
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That is just what I am trying to figure out here. Maybe this is more of a discussion of philosophy.
It seems that many people tell me that they sell X product because it is better for the client, or because the client understands it better etc.
At the same time they are all doing this with different products, some with whole, some with UL and some with VUL.
Lets take out company specific info her, is this really a question of what is best for the client? If this is true are we only working with, or attracting the type of clients that sell the type of insurance that we sell?
I dont sell much whole life, and do not find that my clients like it either. Is that the area that I am selling in, the demographic that I am selling to, or may it be that it is all in my head?
I know tons of agents who keep all of their UL's on the books, or VUL's on the book and they don't sell anything else.
We are always talking about what product is best, and everyone always says what is best for the client is best.
This means then that everyone is only working with a specific demographic, or that maybe, possibly, you are selling what is safe to you?
Again not to offend anyone as you should do what you do well. But I am sure we will see many people post here tomorrow and on that only sell VUL, or UL and can't seem to sell Whole life, and cant keep WL on the books.
Which came first the chicken or the egg? Are we selling everyone the same product without regard? Or is is possible that because we are comfortable with that product we are attracting the type of client that fits that?
Take out the company, and all of the other stuff and you are left with a lot of successful agents that each basically sell term and one perm product. I see this all of the time.
Again, what would happen if we all branched out and tried another type as well. Would we open ourselves up to a whole new market that maybe if anything our subconscious was keeping us out of.
(I am not getting all weird here, but I think that regardless of the level of your belief in basic psycology we all understand that our subconscious controls most of what we do)
Just a thought.
It seems that many people tell me that they sell X product because it is better for the client, or because the client understands it better etc.
At the same time they are all doing this with different products, some with whole, some with UL and some with VUL.
Lets take out company specific info her, is this really a question of what is best for the client? If this is true are we only working with, or attracting the type of clients that sell the type of insurance that we sell?
I dont sell much whole life, and do not find that my clients like it either. Is that the area that I am selling in, the demographic that I am selling to, or may it be that it is all in my head?
I know tons of agents who keep all of their UL's on the books, or VUL's on the book and they don't sell anything else.
We are always talking about what product is best, and everyone always says what is best for the client is best.
This means then that everyone is only working with a specific demographic, or that maybe, possibly, you are selling what is safe to you?
Again not to offend anyone as you should do what you do well. But I am sure we will see many people post here tomorrow and on that only sell VUL, or UL and can't seem to sell Whole life, and cant keep WL on the books.
Which came first the chicken or the egg? Are we selling everyone the same product without regard? Or is is possible that because we are comfortable with that product we are attracting the type of client that fits that?
Take out the company, and all of the other stuff and you are left with a lot of successful agents that each basically sell term and one perm product. I see this all of the time.
Again, what would happen if we all branched out and tried another type as well. Would we open ourselves up to a whole new market that maybe if anything our subconscious was keeping us out of.
(I am not getting all weird here, but I think that regardless of the level of your belief in basic psycology we all understand that our subconscious controls most of what we do)
Just a thought.
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Another wrinkle...Many consumers that trust the agent, buy what he/she/bi/trans/ sells. Hypothetically, the same consumer could have bought different types of policies, depending on their agent or FP.
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NWInsurance
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Ok we are getting somewhere.
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I sell some Whole Life, usually as "Final Expense" products to older clients, in small face amount products. It pays pretty good commissions, and is easy to explain. Also, most is "simplified issue", so underwriting is a quick process.
Term is another easy to understand product, but, you can buy it over the phone or internet for cheap, without consulting an agent, so I do lose some sales to those places. I don't recommend trying to sell Genworth term products, in particular, because most of the time they want a paramedical exam, and I've seen that kill sales, because of the client's reluctance to be examined, etc. Life Investors has a decent term product, and under age 60 and face amount 100k, no paramed.
Universal life is okay, not a great seller for me, I offer the Genworth and Life Investors products, it is kind of complicated, and is a little hard to explain, but that is my problem, not the product's.
I don't have a variable license, so I'm not in that market.
Dave
Term is another easy to understand product, but, you can buy it over the phone or internet for cheap, without consulting an agent, so I do lose some sales to those places. I don't recommend trying to sell Genworth term products, in particular, because most of the time they want a paramedical exam, and I've seen that kill sales, because of the client's reluctance to be examined, etc. Life Investors has a decent term product, and under age 60 and face amount 100k, no paramed.
Universal life is okay, not a great seller for me, I offer the Genworth and Life Investors products, it is kind of complicated, and is a little hard to explain, but that is my problem, not the product's.
I don't have a variable license, so I'm not in that market.
Dave
How do you lose sales to the online companies?
- 133
I've had prospects to say that "I can buy term online cheaper than that." or "I bought my insurance from selectquote on TV, it was more convenient than dealing with an agent like you." Those are the only two cases, and they were people who I was cold calling on, so, its pretty rare.
I see more final expense sales than term, basically because older people are more likely to see the "need" of life insurance than younger people, and older people usually either (a) can't afford more than 10 or 15 thousand dollars, so term isn't available at that level, or (b) won't pass regular underwriting, so simplified issue is necessary.
Dave
I see more final expense sales than term, basically because older people are more likely to see the "need" of life insurance than younger people, and older people usually either (a) can't afford more than 10 or 15 thousand dollars, so term isn't available at that level, or (b) won't pass regular underwriting, so simplified issue is necessary.
Dave
