90. Bailout for boomers.
Several guaranteed UL (GUL) permanent insurance policies offer a “bailout” option in the form of a contractually guaranteed return of premium after 15 or 20 years. Boomer clients often see the value of permanent coverage, but are hesitant to sock away premium dollars in case they ever change their mind. This rider can make or break a prospect that is on the fence!
89. Work ethic.
My day does not end until I have given a life insurance presentation to at least five people. I work off of leads, referrals, neighbors and current customers. I plan my day the night before with a list of 25 people I am going to contact in person. I then map out their addresses. My approach is simple: I knock on the prospect’s door, and if they do not answer the door I simply stick a post-it note with a short message on the door or picture window so that I can see it from the road. If and when they call, I immediately go back to their house. When I have knocked on all 25 doors, depending on how many presentations I have given, I will go back to the beginning of the list and knock again. Again, my plan is simple but effective. Work ethic is the key.
88. Do not call.
After 40 years in business and at age 67, I have found one thing that works: buy a good list with “do not call.” I use turning 65 for Med Supps and final expense life. Send yellow postcards (cost: 24 cents), and then follow up three to five days later asking for an appointment. I know it’s an old system, but it still works.
—John E. White
87. The rental theory.
I do not sell insurance. I only rent money for future delivery. How much do you need?
—Larry J Howe
Show them where the market has gone in 2000 and 2008 and where they would be if they were in a fixed index annuity.