Leads that didn’t work out. Everyone has an online folder, desk drawer or manila folder filled with referrals and other names that came your way. You talked to them. They weren’t interested. They thought insurance was boring. Maybe they’ve changed their minds.
Proceed with Caution
Between the do-not-call list rules and the pandemic, there are restrictions on cold calling and prospecting. Check this out with your manager so you stay on the right side of the law. Some of these names might be friends, current clients or recent prospects.
(Related: 3 Local Influencers You Want to Know)
They might receive your eNewsletter. Let your manager guide you on who you can (and can’t) contact.
5 Reasons to Recontact
If they weren’t interested in insurance before, why contact them now? What has changed?
1. You can lose money in the stock market.
There’s an old expression: “Money talks. It says goodbye.” Over the past few years, the stock market did well. During the pandemic, it’s run into problems. People should diversify. They might be interested in putting some of their money in a product where the initial principal is protected.
2. Cake 101: Having it, eating it too
If they got their fingers burned in the stock market, they might be interested in an insurance product where they participate in a portion of any stock market increase, yet aren’t taking on much, if any principal risk.
3. I might not live forever.
“I’m young. I’ll buy insurance when I’m older.” The news reports have driven home people of all ages have died from the Coronavirus. Better to buy now and build up cash value, knowing if the worst happens, their family will get a lump sum payout.
4. Long-Term Care
But where? Many virus deaths have taken place in nursing homes and senior living facilities. You client might have thought, when the time comes, living on one level in a bucolic setting might be “country club living.” Now they think in home care might be safer. There are providers out there, but where will the money come from? Long Term Care insurance may look more attractive.
5. Guaranteed Lifetime Income
After the pandemic, some people will want more certainty in their lives. They may be more open to this discussion than before.
There are plenty of reasons now to have another conversation with people who previously thought insurance was boring.
— Read What Can Insurance Agents Do During Stock Market Declines?, on ThinkAdvisor.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides high-net-worth client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor,” can be found on Amazon.