How To Sell Cash Value Life Insurance? 

Are you struggling with selling your cash value life insurance?  Are you having problems finding enough of the right prospects for life insurance and setting appointments?  Are you lucky if you are able to sell one cash value life insurance policy each week? 

You’re not alone.  The average insurance agent or financial advisor is only selling 35-50 cash value policies per year and is earning $40,000 - $50,000 annually. That’s roughly an average commission of $1,000 per case. (With bonuses, etc.) And, that’s before we got really involved in this recession.  

According to the US Department of Labor, “The median annual wages of ‘wage and salary’ insurance sales agents were $45,430 in May 2008. The middle 50 percent earned between $33,070 and $68,730. The lowest 10 percent had earnings of $26,120 or less, while the highest 10 percent earned more than $113,930. Median annual wages in May 2008 in the two industries employing the largest number of insurance sales agents were $48,150 for insurance carriers, and $44,450 for agencies, brokerages, and other insurance related activities.” 

According to LIMRA International, when it comes to cash value insurance, whole life sales are picking up steam. Annual sales of whole life insurance were up 12 percent in third quarter of 2009, compared with the same period of 2008. By contrast, annual sales of universal life and variable universal life insurance dropped 14 percent and 64 percent, respectively, over the same period. And term insurance sales, after several years of strong growth, have been flat. 

Would you like to be selling 3-5 cash value policies every week and be earning $150,000 or more per year?  Even in this recession? 

If you want to sell more cash value life insurance, right now, in spite of the current recession, then let’s take a look at a few of the reasons agents and advisors continually struggle with selling cash value life insurance? 

• Have you have fallen prey to the ‘Buy Term and Invest The Difference’ Myth? There is so much negative publicity out there about cash value life insurance that most agents are afraid to even try to sell anything but term insurance. Mainly, it’s because they don’t know how to overcome the prospects confusion about the value and validity of cash value life insurance.
  
  Note:  If you believe that you can consistently average a 12 percent return in the market then buying term and investing the difference might make sense for you.  However, do you really want to put all of your money at risk in the market?  Do you want to have some safe money?
  
  Take the time to do the comparisons for yourself, and become a believer!  Most good life insurance companies have illustration software that will compare their products to ‘Buy Term and Invest The Difference’ and it clearly shows that cash value life insurance is a much better buy at realistic stock market returns.
   

• Do you understand how cash value life insurance really works and how you and your prospects will truly benefit by owning it?  Most agents, who are trying to sell cash value life insurance, don’t really understand the incredible power of tax deferral. Or, how cash value life insurance can provide a tax-free income in retirement. Or, that because of the disability waiver of premiums and the death benefit, cash value life insurance is the only self-completing college funding and/or supplemental retirement savings plan! Or, that it’s creditor proof. And, it doesn’t count as an asset when you apply for college financial aide. Or, that by over funding a cash value life insurance policy, up to the MEC guidelines, it can become “investment grade life insurance.”  These are just a few of the outstanding benefits that make cash value life insurance a very unique savings vehicle and an exceptional buy!
   

• Do you believe in cash value life insurance enough to own it yourself?  Most agents and advisors have all the same objections that their prospects have to buying cash value life insurance.  How can you sell something you don’t really believe in and own yourself?  If you want to sell cash value life insurance, then do your homework.  Learn everything you can about cash value life insurance. Become a believer… and then buy it yourself!  One of the best ways to learn about cash value life insurance is to join NAIFA and take their life insurance courses.  And, I would also recommend you read the article by Jeffery Reeves, and his book Money for Life.

Overcoming The Biggest Problem To Selling
Cash Value Life Insurance!

While the above are a few of the major reasons why so many agents and advisors struggle with selling cash value life insurance, they are not the primary reason. Consider; what’s the most common objection a prospect gives you for not buying cash value life insurance? Isn’t it: “I can’t afford it!”

The problem is that most sales people just expect their prospects to somehow come up with the additional money needed to buy their permanent cash value life insurance. However, if the prospect is like most people today, aren’t they just barely making it financially? Aren’t most people today, just a paycheck away from financial disaster? So, in effect aren’t you asking your prospects to make a very difficult decision? ‘What do I have to sacrifice in order to purchase your
product?’

If you want your prospects to buy your permanent life insurance, then you must help them to ‘Find the Money.’  And, that is what our Found Money Management™ concepts are all about.  It’s about helping people to reallocate their dollars, to get what they need and want, without them making huge sacrifices and/or changing their current lifestyle.

So, where can you find the money, so your prospects can afford to buy cash value life insurance?  How about raising the deductibles and waiting periods on their current insurance policies?  Or, how about removing unnecessary and/or expensive riders? Or, maybe canceling unneeded policies? Or, can they free up money by refinancing their home and lowering their monthly mortgage payments? Or, can they take equity out from their home to eliminate credit card debt or an auto loan, to free up those payments? Or, could they reallocate payments currently going into qualified retirement plans, college funding vehicles, etc.?

It all boils down to helping your prospects to set their financial priorities!  Helping them to decide what’s most important to them!  So, they want to take action!

Help your prospects to get the life insurance protection they need to protect their family and help them to save money for their future, using cash value life insurance?

Yours in Success,
Lew and Jeremy Nason
'The 9 Out Of 10 Guys'
Marketing and Sales Coaches

Message to Financial Advisors…

What have you done in the last sixty days to increase your sales? 
Is there any question that during the year, you're going to spend thousands of dollars in time, money and effort bringing in new clients to your business?  Then wouldn't it make sense to do it the most cost effective, money-making ways?  Why not learn the marketing, prospecting, appointment setting and sales strategies that most of the leading agents, advisors and planners on the planet use?  Jeremy and Lew Nason    

Learn a Much Simpler and More Effective Way, to Properly (and Ethically) market and use many of the same powerful 'Cutting Edge' concepts found in the 'Money for Life', 'LEAP', 'Missed Fortune', 'Infinite Banking', 'Circle of Wealth',  plus the various 'Retirement Supplement' and 'College Funding' systems... in spite of the economy!
(We are trainers, NOT recruiters!)

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'Advanced' Life Insurance Sales Tool Kit
 

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