Trying to decide what to propose....

[J.R.]

My dilema is they have expressed some discomfort with their current deductible, but also need something to lock rates in... That is my reasoning for looking at the MaxPlan with individual deductibles that are lower... If Assurant offered a 3 year lock on a $5000 one deductible plan I would do that... And also, lowering premium isnt' as important as assuring it won't increase further.

It sounds like they want to lower their premium, deductible and OOPM exposure. It seems like the plan you pick will do that and then some because you built in Accident Protection! You get to play around with those numbers but they are going to have to sacrifice something.

An individual needs a minimum $3500 to lock the rate in for 36 months.....X 2 for a family would be $7000, but Assurant only offers $7500.

"Would you rather have 20% increases every year on average or lock in you rate for 3 years saving yourself X amount of dollars?????"
"What happens after the 3 year mark?"
"I have no idea because if I did know that I would quit selling insurance right after we get off the phone and I would become a stock broker tomorrow, so I could retire in the next 2 years based on my ability to pinpoint future calculations. I would expect to beat Warren Buffett in 5 years if that was the case

This is where the services part comes in where you guarantee that you will look at their options every year to see if their is a better deal at the time.

You are already saving them money on their premium, reducing their OOPM exposure by $2500 not counting copays or however that particular plans works.....AND in the event the crap hits the fan and they get in an accident they only owe $100. If they cannot see the value in that you are dealing with stupid people and should move on.

 

[joshril]

It sounds like they want to lower their premium, deductible and OOPM exposure. It seems like the plan you pick will do that and then some because you built in Accident Protection! You get to play around with those numbers but they are going to have to sacrifice something.

An individual needs a minimum $3500 to lock the rate in for 36 months.....X 2 for a family would be $7000, but Assurant only offers $7500.

"Would you rather have 20% increases every year on average or lock in you rate for 3 years saving yourself X amount of dollars?????"
"What happens after the 3 year mark?"
"I have no idea because if I did know that I would quit selling insurance right after we get off the phone and I would become a stock broker tomorrow, so I could retire in the next 2 years based on my ability to pinpoint future calculations. I would expect to beat Warren Buffett in 5 years if that was the case

This is where the services part comes in where you guarantee that you will look at their options every year to see if their is a better deal at the time.

You are already saving them money on their premium, reducing their OOPM exposure by $2500 not counting copays or however that particular plans works.....AND in the event the crap hits the fan and they get in an accident they only owe $100. If they cannot see the value in that you are dealing with stupid people and should move on.

I understand all that... but isn't the $7500 increasing each individuals exposure if only one of them had a seroius medical event. I just don't see why you would not recommend $3500 Maxplan if they are already complaining about $5000 deductible.

 

[somarco]

Give them what they want and stop trying to educate them. Sometimes dealing with clients is like teaching a pig to sing.

It is a waste of your time and it annoys the pig

 

[J.R.]

I understand all that... but isn't the $7500 increasing each individuals exposure if only one of them had a seroius medical event. I just don't see why you would not recommend $3500 Maxplan if they are already complaining about $5000 deductible.

I sell the need! If they need a max plan at that amount then that is what they get, but I always have 2 or 3 other plan options as a back-up.

 

[djs]

I sell the need! If they need a max plan at that amount then that is what they get, but I always have 2 or 3 other plan options as a back-up.

Hmmm, sell the need, hmmm.... I sell the pain. Sounds terrible now that I put that out there. I look at it this way, people need insurance, people don't buy it. You can sell till your blue in the face, they don't buy it. The pain to them is the application and the monthly payment.... and for what? I still have to pay when I go to the doctor...

Now, if someone understands the 'pain' of watching their house get auctioned off because they didn't have insurance on their auto or health or business or whatever, and they have to pay the bill, they quickly write the check. People run from pain more than they run towards a need.

In this case, solve whatever their real pain is (premium, coverage, deductible, whatever), keep something the same, and compromise on the third. The beauty is, they get to pick...

Mr & Mrs Customer, based on our conversations, I recommend this plan. It accomplishes what I believe is important to you, locking in your rates, while limiting your out of pocket exposure. The alternative is plan 'B', which gives you slightly better monthly premiums, but gives you slightly more out of pocket exposure. Which do you prefer? ....

Start writing the app.

Dan

 

[nate124]

Hmmm, sell the need, hmmm.... I sell the pain. Sounds terrible now that I put that out there. I look at it this way, people need insurance, people don't buy it. You can sell till your blue in the face, they don't buy it. The pain to them is the application and the monthly payment.... and for what? I still have to pay when I go to the doctor...

Now, if someone understands the 'pain' of watching their house get auctioned off because they didn't have insurance on their auto or health or business or whatever, and they have to pay the bill, they quickly write the check. People run from pain more than they run towards a need.

In this case, solve whatever their real pain is (premium, coverage, deductible, whatever), keep something the same, and compromise on the third. The beauty is, they get to pick...

Mr & Mrs Customer, based on our conversations, I recommend this plan. It accomplishes what I believe is important to you, locking in your rates, while limiting your out of pocket exposure. The alternative is plan 'B', which gives you slightly better monthly premiums, but gives you slightly more out of pocket exposure. Which do you prefer? ....

Start writing the app.

Dan

I couldn't agree more! There are a lot of things out there that people NEED to do... but do they do it? No. I always look at it this way... and I'll use myself as an example...

Do I NEED to eat better? Yes, of course. Do I? No... because I don't want to. haha. Now...If I had a heart attack, or chest pain, etc etc... suddenly that "pain" triggers the need to be something of more value then before.

A need is a want. Pain is an action item.

If you can define what a clients pain is, you most certainly can get them to take action on it.

So in this case, their pain is that they don't want to have increases in their premium.

 

[J.R.]

Hmmm, sell the need, hmmm.... I sell the pain. Sounds terrible now that I put that out there. I look at it this way, people need insurance, people don't buy it. You can sell till your blue in the face, they don't buy it. The pain to them is the application and the monthly payment.... and for what? I still have to pay when I go to the doctor...

Now, if someone understands the 'pain' of watching their house get auctioned off because they didn't have insurance on their auto or health or business or whatever, and they have to pay the bill, they quickly write the check. People run from pain more than they run towards a need.

In this case, solve whatever their real pain is (premium, coverage, deductible, whatever), keep something the same, and compromise on the third. The beauty is, they get to pick...

Mr & Mrs Customer, based on our conversations, I recommend this plan. It accomplishes what I believe is important to you, locking in your rates, while limiting your out of pocket exposure. The alternative is plan 'B', which gives you slightly better monthly premiums, but gives you slightly more out of pocket exposure. Which do you prefer? ....

Start writing the app.

Dan

I do prefer the alternative close myself combined w/ the ability to "pick the rate" vs. being told what the rate will be.