When doing insurance programming with families, I take 15 minutes to do a cash-flow analysis.

Not only do I get the family’s main expenses, such as vehicle and home mortgages, but I also find out when these expenses cease. This enables me to find extra premium dollars and when they will be available. This is noted on my call-back list.

One question I ask during the cash-flow analysis is how much the family is spending on automobile and homeowner’s insurance. Many times, it is much more than what the family is paying for life insurance. The computer program I use produces a pie chart that shows the expenses. I put the homeowner’s and automobile insurance expenses beside what the family is paying for life insurance. I then ask my prospects if they believe the family’s possessions are worth more than their lives. I simply tell the prospects that I believe that this is backwards. The little pie sliver that represents life insurance is protecting the entire pie and ensuring that it remains whole.

This idea has helped people put the importance of life insurance in the proper perspective.

Editor’s note: The preceding Million Dollar Sales Idea was originally published in the June 1992 issue of Life Insurance Selling.

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