Life insurance Leads - Cut you cost!

Life Insurance Leads… Cut Your Cost By 66%!

What if you could cut your life insurance leads cost by 66% or more and… Be getting a lot more of the people in your local community to know you and call you for help with their insurance and finances?

Would you like to get your clients, family, and friends to buy more, and buy more often from you?

How much easier would your career be if you could get all your clients, family and friends to refer people to you?

Most agents and advisors are overlooking one of the best, easiest and most ‘cost-effective’ way of generating consistent high-quality life insurance leads from the people in their community… and more sales!

Are you using one or more of these traditional, expensive methods of generating life insurance leads and sales? Read More

Millennials: Dine Out, Drink Craft Beer, Connect, & Recoup $5,000 – It’s Legit!

David Szeremet, October 19, 2017

I recently consulted on a financial planning case involving a 28-year-old pharmaceutical sales rep. She is doing well, earning six figures. Recently married, she is considering the purchase of a cash value life insurance policy for income protection ($1 million death benefit) and to accumulate a rainy day fund (potentially $250,000 by age 55). The annual premium is $5,000.

I was surprised to find out she can’t afford the premium. She makes a good living, is healthy, lives in an affordable area, has no student loans, and drives a Honda Accord. She appears to be living well within her means. Something did not compute.

Here’s what we were missing. A classic millennial, she values being socially connected, informed, and meeting up with her (large) social network. Her phone gets a workout with Evites, tweets, posts, and rally texts. On average, she goes out three nights a week, consumes a great deal of media content, and is an avid reader.

It’s all good. However, an analysis of her monthly budget revealed a continuous outflow of unnecessary fees, up-charges, and nickel-dime expenditures.

We identified seven financial fixes to free up at least $5,000. The fixes will not impact her lifestyle (other than simplifying it).

  1. Cut the cord. Yes, she has cable TV. On average, cable runs $105 a month (source: Fortune magazine). It’s only getting worse because the cable TV inflation rate is up to EIGHT times the consumer inflation rate (source: Leichtman Research Group). It’s a racket. Other than live sports, I can’t remember the last time I looked forward to watching anything on cable TV.* Face it, cable TV is for suckers and procrastinators. I’m not asking anyone to revert to rabbit ears (comment if you do not understand). There are dozens of affordable internet-based options saving you at least $50 a month (that’s $600 annually – the miracle of math!)
  2. Ditch the crumb scraper. Go ahead and eat out – I’m fine with it. You can save a boatload of cash by following one simple rule: never eat at a tablecloth restaurant.** Over a three month period, I conducted a survey of the Cincinnati area. My taste buds enjoyed it. Dinner at tablecloth restaurants, not counting booze, averaged $50 a meal (appetizer, entrée and dessert). For “naked table” joints, it’s $25 on average. Skip the tablecloth once a week for a year and you will save $1,300. It’s real!
  3. Buy a growler. Craft breweries are printing money – one pint at a time. I love visiting local breweries and based on the number of millennials I see, they do too. A typical pint runs $7 ($6 plus $1 tip). “Bankruptcy by a thousand pints” is a serious risk. Instead, once a week, buy a four pint growler for $16 ($14 plus $2 tip). And like M&M’s, growlers make friends! One growler per week saves you $624 a year. Drink (financially) responsibly.
  4. Stay put. Nightclub cover charges are wallet killers. Consider a modest $5 cover charge. If you pay one cover charge instead of three, you save $10. Do this just once a week and save yourself $520 over the course of a year. You do not have to be a party chaser to have a good time. Hook up with your crew at a pre-designated locale and stay there – even if Skylar shows up and proclaims that DJ Skin-E-Jeenz is working his MacBook over at Club Elev8.
  5. Become a card carrying member… Pick up a library card. Your local library can score nearly every book, eBook, movie, or ‘zine. You simply need to organize your priorities and be willing to wait a few days – don’t worry, the words will still be there when your book arrives. If you borrow only one book a week (@ $20 per book on Amazon), it’s $1,040 annually ($260 @$5 each for eBooks).
  6. Ironic/vintage t-shirt limit: 1. Nobody loves an ironic t-shirt more than a millennial. But today’s satirical t-shirt is tomorrow’s oil rag. Ask any Gen Xer who coveted a Spuds MacKenzie or Where’s The Beef? shirt. Same goes for that “vintage” t-shirt depicting your school’s olde tyme logo. You have my permission to own one, but honestly, it’s one too many if you plan on dating. Take a pass on ten of these $35 shirts (they are so overpriced) and save $350.
  7. Live to ride – ride to save. Skip one Uber/Lyft a week. Just one. Most metropolitan areas have bike share programs with well-maintained bikes ready for you 24/7/365. And it’s good for you! I live in Cincinnati and we have a thriving bike share program. I’m confident your area does too (or will soon). An annual bike share license runs $100, or less. At an average fare of $15, skipping Uber/Lyft once a week saves you a net of $680 annually.***

So there you have it. Over $5,000**** in “found” money and your life is simplified.

*Cable TV reached its nadir in 2017. Sports talk “game shows.” Political rant panels. Endless loops of home flipping reruns. State Fair fried food close-ups. “Dump-and-stir” cooking shows. Bigfoot vs. Goat Boy. Hitler’s Secret Vacation Home. Anything on the Weather Channel. Planet of the Apes marathons. Are we really this bored?

**Unless someone else is paying.

***I’m not being a tightwad. I’m only asking you to add one bike ride a week (twice a week during good weather if you live in a city that experiences winter). We need exercise – let’s kill two birds with one stone.

****And I didn’t admonish you to clip coupons, become an Uber driver, live in your parents’ basement, join loyalty programs, enter drug trials, or “stop going to Starbucks” – those tips are played out.

It Is All To Easy For Us To Blame Our Financial Problems On The Economy!

Last week we discussed how you can help families to live the ‘American Dream!’

Do you remember the stats from the recent CareerBuilder report (7/2017)?

  • 78% of full-time workers said they live paycheck to paycheck… up from 75% last year.
  • 71% all U.S. workers said they’re now in debt… up from 68% a year ago.
  • 56% said they are in over their heads with debt.
  • 56% save $100 or less each month.
  • About 18% of workers said they cut back on their 401k contributions or personal savings in the last year.
  • More than one-third don’t put any money away for retirement.

I think these stats are extremely scary. But, what is even more scary is that most people are blaming their problems on our struggling economy… lack of good paying jobs, rising costs of the essentials, etc.!

Most people are  unwilling to take responsibility for their financial situation.

“Man must cease attributing his problems to his environment,
and learn again to exercise his will – his personal responsibility.”

Albert Einstein

Here is a recent article that I found, that should help you put things into perspective for you and your clients.

Remember it all starts with you! Read More

Whose Job Is It?

Think About It… If this business were really about having the best products and sales ideas like people are telling you, then why are 90% of the new advisors failing and why is the average income for advisors only $30,000-50,000?

The truth is, that contrary to what you may believe, the vast majority of insurance companies, IMOs, agencies, and brokerage firms are not going to spend a lot of their time and money training and coaching you on marketing and sales! Their main focus is on recruiting agents and product training. It’s not their job to make you a superstar salesperson. Their job is to provide you with the best products and teach you how they work.

Consider, if a company hires you as an engineer or accountant are they going to train you… or do they expect you to already have and stay up to date on the specific knowledge and skills needed for the job?

If you really want to succeed today, then isn’t it up to you to get the very best life insurance and annuity marketing and sales knowledge, skills and training you need to do your job?

We created the Insurance Marketing and Sales Resource Center in 2000 because there was not one place you could go to get ALL the core marketing and sales knowledge you need to be successful!

Since 2000, we have helped thousands of insurance agents, financial advisors and planners to go from earning $30,000-$50,000 per year, to now earning $150,000-$350,000 per year.

Whether you want to achieve dynamic financial growth over the next few months, or put an end to those 12-14 hour days, so you can have more time with your friends and family… Or Both we can help you!

Isn’t it time for you to become a member?

Jeremy Nason, RFC is the co-founder of the famous Insurance Pro Shop™ -“The first affordable, full-service insurance marketing and sales resource center for today’s Financial Pro, and Found Money Management™a system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’ For more articles visit his blog!

3 Myths About Life Insurance That May Leave Your Family Unprotected!

3 Myths About Life Insurance That May Leave Your Family Unprotected!

When you’re just starting out, it often seems that a dollar never stretches far enough. And with new commitments, such as buying your first home or having children, comes the responsibility to make sure your loved ones will be provided for financially, no matter what life may bring.

If you were to die unexpectedly, life insurance is there to make sure your loved ones can maintain their standard of living, stay in your home, send your kids to the same schools and keep their plans for the future on track. It also gives the grieving spouse or partner time to make decisions, or in some cases find work outside the home, without worrying about finances.

But common misconceptions often prevent young families from purchasing the life insurance they need.

Myth 1: I only need life insurance if I’m the primary breadwinner in my family. Whether you bring home the largest paycheck in your household or a smaller one, your family relies on your income to maintain its quality of life, and it would be missed if something were to happen to you. Even if you don’t work outside of the home, having life insurance is a smart choice. Stay-at-home parents perform valuable services such as childcare, cooking, housecleaning and household management, which can be costly to replace for a surviving spouse or partner. Read More

15 ‘LOW & NO COST’ Ways To Find Life Insurance and Annuity Prospects

One of the main reasons agents and advisors are continually struggling to make enough money selling life insurance and annuities is they are taking what they think is the easy way to find prospects. They are spending a lot of their money, buying leads or taking a cut in commissions to get leads. Consequently, they end up wasting most of their TIME and MONEY trying to set appointments with a lot of low-end prospects. (People who are shoppers, have health problems, or are just curious!) They are missing the actual easiest and most cost effective ways to be in front of their ‘IDEAL’ prospects every day.

Here is a question we get every week from agents and advisors who finally realize there has to be a better way…

QUESTION: I could use some help in other marketing areas. I use the phone a lot. I’m on a very limited budget right now and am very frustrated. I love my work, but I’m not doing what I need to do, to be successful. Can you help me?

ANSWER: There are a lot of ‘NO COST’ or very low cost things you can do to help you find more prospects. You can:

  1. Call all your existing clients and ask for referrals…
  2. Call all your existing clients and offer them client workshop. Have them bring a friend…
  3. Call all the people in your neighborhood and use the survey approach…
  4. Use some of the articles from our newsletters (rewrite them a little) to get yourself published in your local newspaper, associations etc. … Make sure you have a byline with all your contact information.
  5. Set up a joint venture with a P&C agency, attorney, accountant, doctor, chiropractor, dentist, optician, beautician, auto dealers, etc…
  6. Call all the prospects you didn’t sell, and do the survey…
  7. Put up a flyer offering a free report, or workshop – in grocery stores, car washes, and oil change places. Or, put it on cars in doctor’s parking lots, etc.…
  8. Put a free report in a nice, clear front binder, with all your contact information, into waiting rooms…
  9. Make a list of everyone you do business with… Ask for their help… Ask them hand out a flyer to every one of their clients… offering a free report or workshop…
  10. Offer a information workshop for churches, women’s groups, and other associations… Starting with your local Church or Synagogue…
  11. Make a list of every one you, your parents, friends, and relatives know, and then offer them a free workshop or free report
  12. Offer a free educational workshop to your local library or senior center…
  13. Offer an adult education class at a high school or college… (They might even pay you)
  14. Offer to be a guest on a local radio, or TV Show… offer a free workshop or free report
  15. Set up your company page on Facebook… offer a free workshop or free report

These are just a few ideas… What else can you think of? Be creative…

Stop wasting your time and money chasing low-end prospects!

All fifteen of these (and many more) ‘NO COST’ or very low cost ways to find high quality prospects are explained in each of our specialized life insurance and annuity sales systems with all the tools, training, and personal coaching you will need to make them work.

“Opportunity is missed by most people because
it is dressed in overalls and looks like work.”
Thomas A. Edison

Yours In Success,
Jeremy Nason
‘The Nine Out Of Ten Guys’

What Do You Need To Know To Generate A Consistent Stream Of Qualified Prospects!

In my 20 plus years in this business, working with my father, I haven’t found a single way of generating leads and sales that is going to work for everyone, in every area of the country. Doesn’t every section of the country have different ways of looking at things, different beliefs and different preferences? Doesn’t every Agent and Advisor have their personal strengths and their weaknesses?

It’s like playing baseball. Everyone can play the game. However, not everyone is a good player. Very few are ever going to become good enough to make it to the minor leagues, let alone the major leagues. Even those players who have a lot of talent are beat out many times by players with a lot less talent.

The people who do make it into the minor and major leagues in baseball are the people who study, practice and work hard to master the fundamentals of the game. Then, they determine what position they are going to specialize in and they study, practice and work hard to master that one position.

It’s the same for anything we decide to do. If we want to be successful in the game… it takes dedication, study, practice and hard work to master the fundamentals of the game. Then, to take our game to the next level we must specialize!

Consider, you can have all the leads in the world, but if you don’t know the fundamentals of what to do and say to turn those leads into an appointment or a sale, you’ll strike out 99 times out of 100.

You can have the best products in the world. You can be extremely knowledgeable about the products and how to use them. However, if you don’t know the fundamentals of how to attract and get appointments with the right prospects, you’ll never get your turn at bat.

If you want to make it to the minor leagues in sales you must first master the fundamentals of sales! And, then to get to the major leagues you must specialize in one area!

What are some of the fundamentals of sales?

The first fundamental of sales is learning what sales is all about! Is a sale about getting people to buy the products that you want to sell them? Or, is it about helping people to buy what they need to solve a problem they have? This is where most agents have a problem and stumble right form the start. They have the wrong idea of what sales is. So, when they get a lead, they have a problem turning the lead into an appointment, let alone a sale.

  • Do you have an urgent problem that you can solve for a prospect? If your prospect doesn’t have a problem, then why should they meet with you? If it isn’t an urgent problem, then why should they meet with you right now?
  • Does the prospect recognize the problem they have? What can you do to get them to see that they have a problem and agree to an appointment?
  • Does the prospect want to solve the problem? Do they want to solve it right now? What can you do to move the sale along?
  • Even if they do want to solve the problem, do they have the money? What can you do to help them find the money?

The second fundamental of sales is learning how to identify and attract your ideal prospect. This is another area where the vast majority of agents have a major problem. They believe that everybody is a good prospect for what they offer. So, they waste their time and money sending letters to, talking to, meeting with and trying to sell the wrong people.

  • Are there some people that are better prospects than others for your products or services? Example: If you are selling life insurance, is it going to be easier to sell it to people with families or to single people?
  • Are there some areas, companies, associations, etc. that have groups of your ideal prospects? If you sell one person in that group is it going to be easier to set appointments with and sell the other people in the same group?
  • Are there some prospects that you relate to better than others? Are there prospects who you have more things in common with than others? When you relate better with a prospect isn’t it going to be easier to set an appointment and close the sale?

The third fundamental of sales is the understanding that ‘Marketing Is The Only Function In Your Business That Brings In Clients… Produces Sales… And Generates Profits!’ A lack of marketing is the primary reason most agents fail in this business. Most agents spend all their time trying to meet with and sell strangers, which is the hardest way to build their business. And, yet isn’t that what most lead systems focus on!

  • How easy is to get an appointment with someone who has never heard of you or the work that you do? How much credibility do you have with these strangers? How much trust do these strangers have in you? Don’t most people prefer to do business with people they already know?
  • How much easier would it be to get an appointment with someone, if a trusted advisor or friend recommended you and endorsed your services?
  • How much easier is it to make an appointment with people that already know you and the work that you do?

These are just some of the fundamentals you must study and master to win the sales game. And, these are just some of the fundamentals you’ll find in our member’s only private site and our specialized systems.

Remember, if there were a quick, easy way to be successful selling insurance, everyone would be earning a six-figure net income, instead of just the top 1% of all agents and advisors!

Yours In Success,
Jeremy Nason
‘The Nine Out Of Ten Guys’

Do You Want Qualified Prospects To Call You?

“Then Find Out What They Really Want Right Now, And Then Give It To Them”

Have you ever heard the story about two brothers who were each going to open a hamburger stand?

It seems the two brothers were quite competitive, and so they had a bet on who could make the most money from their hamburger stand. The younger brother, George, told Ned that he could have any advantage he wanted for his own hamburger stand.

Ned thought for a minute and said, “All right, I want the best hamburgers in town.”

“Fine,” George said, “Your hamburgers will be better than mine. Now what other advantage would you like?”

“I want the cleanest, nicest-looking restaurant in the entire state.”

“Fine,” George said, “Your restaurant will be the best around. What other advantage would you like?”

“I want the friendliest, best waitresses.” “No problem. What other advantage do you want?” “I want the best location for my hamburger stand.”

“You got it- the best location is yours.”

By this time Ned was feeling a bit smug about winning their bet. After all, George had given him every advantage he wanted, so there was no way he could lose.

So when George said, “I would like to have one thing for my hamburger stand, though…”

Ned gladly obliged: “Anything else you want, you got it.”

George couldn’t help but smile: “The only thing I want for my hamburger stand is a starving crowd inside it!” And then he went on to win the bet by a landslide.

So what’s that story got to do with selling insurance and your financial services?

Everything!!!!

Even if you’re doing EVERYTHING else right in your insurance or financial services business, if you make the one mistake of NOT selling to a “starving crowd,” you’re going to struggle in this business.

Let’s look at an example outside of our industry.

Why do you think doctors make so much money? It’s definitely NOT because they’re good salespeople or marketers – in fact, they’re some of the absolute worst around. Yet their waiting rooms are always full of people wanting to see them.

Have you ever thought about what they’re doing that you’re not? They’re marketing to a starving crowd. If you’re sick, you’ll gladly wait all afternoon and pay whatever exorbitant fee your doctor charges. If you have a heart attack, you don’t negotiate fees with your doctor and you don’t postpone your date for open heart surgery because there was something else you’d rather do that day. No, you march right into the doctor, tell him to schedule you right away, and never even ask him what he charges to do the procedure.

Why? At that point, you have an “immediate need” and you’ll do whatever it takes to get your problem fixed.

To be a successful insurance agent or financial adviser today, you must find your own “starving crowd” and offer them whatever it takes to immediately satisfy their immediate hunger. Unfortunately, because insurance and financial services are at best a future need, it’s tough to find a “starving crowd” of prospects for your products.

That’s why you need to turn the tables on your prospects and offer them services which satisfy their most pressing IMMEDIATE needs before you ever offer them insurance or financial products. This strategy quickly turns even your lukewarm prospects into a “starving crowd”.

Remember, everyone is totally self-absorbed and selfish.

All people care about is themselves, and maybe their family.

How about you?

Do you care about me, or what I think… or are you reading this newsletter because of what YOU thought you could get out of it?

Of course, you’re no different from me, or anyone else.

All we care about is ourselves. It’s just human nature.

So, when doing any marketing or advertising, there’s one question that your prospects are going to ask, subconsciously, when they see your ads or whatever:

“What’s In It For Me?”

This is a major point you have to understand. Yes, I know you’ve heard this all before, but this is so critical, so we need to repeat it over and over again until it is firmly implanted in everything you do.

If your client newsletters, sales brochure, Ads and mailers you use answer this question, they will be moneymakers for you!

If they talk about things that don’t answer this question, they will not create responses!

For example, talking about the fact that your company has top ratings does not answer this question. Talking about your credentials doesn’t answer this question. Bragging about being the “best,” or that you “care” doesn’t answer this question. And so on.

But do you see how “How To Pay Off Your Mortgage 10-15 Years Early, Without taking Any Additional Money Out Of You Pocket!” or “How To Generate A Guaranteed Income In Retirement That You Can’t Outlive!” answers this question?

Keep this critical concept in mind whenever you consider any marketing attempt!

Just like you, your prospects only want to know what’s in it for them!

Do you want more information on you can get qualified prospects to call you? Then start by looking at the Insurance Marketing and Sales Resource Center? For about a dollar per day it’s the easiest way to learn how to get ‘Qualified Prospects to Call You!’

Or, you can invest in one of our specialized “step by step’ systems with 3 month of coaching and real support! 

Yours In Success,
Jeremy and Lew Nason
‘The Nine Out Of Ten Guys’

How To Quickly Increase Your Life Insurance Sales Appointments!

First, in case you haven’t noticed, nobody really wants to meet with a ‘pushy’ insurance salesperson, even when they know they need the product or service you are offering! And, even when they have requested more information! They are all afraid they will be pushed into buying something they don’t need or want. Or, they are afraid they will be pushed into spending more money than they want to spend!

Second, most people make the assumption that all life insurance policies are pretty much alike, so to them it makes perfect sense to just pick the least expensive one. That’s why they’ll give you objections to the appointment, like… “I’m too busy right now!” “We don’t have the money!” “I just want the cheapest policy!” “Just send me a quote?” These objections are a natural part of the selling process, and they are really just an opportunity for you to help people to see how valuable your service is.

If you want to set more and better sales appointments, then you’ll have to learn how to get past these typical objections to the appointment! You must focus on helping your prospects to see the problems they face and then help them to see how they’ll benefit by meeting with you. You must be able to differentiate yourself from the rest of the agents who are calling them. And, it’s not going to happen by focusing on your products, price, investment returns or your credentials.

You must help your prospects to see ‘why’ they should meet with you, how they will benefit! If your prospect does not see they have a problem, or truly understand the depth of their problem, then why should they waste their time meeting with you?

Example:

Objection… “I’m too busy right now! Can you just send me a quote?”

Agents Response… “Mr. Prospect, I think I understand. We are all busy, and no one wants to meet with a pushy sales person, right? And, I could send you a quote. However, am I correct in assuming you want the best value for your dollar?

Prospect… “That’s Correct.”

Agent… “Mr. Prospect, I’m a little different from most of the other agents you’ll meet. I want to help you and make sure you get the best policy for you and your family. There are literally hundreds of companies and policies for you to choose from, with all sorts of options. And, without knowing the details of your situation, I’m not sure what’s the best value for you, or what you’ll actually qualify for. So, if I could, I would like to meet with you and your spouse, in person, to go over your options, to make sure you get the best policy and value for your situation. Does that make sense?

Prospect… “I guess so.”

Agent… “Mr. Prospect, if I could show you how to get the policy you need and want to protect your family, without taking any additional money out of your pocket, or changing your current life style, would it be worth 20 minutes of your time to get together and talk about it?”

Prospect… “OK.”

Agent… “What’s the best day for us to meet?”

Overcoming the objection to the appointment is your… first sale to the prospect! And, it requires you to learn a presentation, just like you do for any sales call. You wouldn’t go into a sales appointment unprepared, would you?

What you’ll want to do is write down the most common objections you hear, on the phone and in person. Then, you’ll want to think about what you will say to overcome those objections and write them down. You’ll want to practice them; know them by heart; and learn them so well that you never have to think about them while you’re trying to set the appointment. And, they will just become second nature. By doing this, you are prepared to sell the appointment, which gives you a better chance of setting the appointment.

When you know what to say to sell the appointment, you practice it, and you get good at it, you can set appointments with ‘9 out of 10’ of the leads you get. Remember, the reason these people responded and asked for more information is because they know they need help.

If you want to set an appointment, then you just have to give them a good reason to choose you!

_____________________

Now, it’s up to you… You can experiment, trying to develop your own scripts to overcome the objections to the appointment… and the sale! Or, you can invest in our How To Close ‘9 Out Of 10’™ Sales By Asking The ‘Right’ Questions… Training Videos! It’s The Quickest & Easiest Way To Increase Your Sales Appointments… And Your Sales!

Yours In Success,
Jeremy Nason and Lew Nason
‘The Nine Out Of Ten Guys’

Do You Ever Have Doubts?

One of my jobs at the Insurance Pro Shop is to help agents come up with the best recommendations for their clients. It’s an awesome responsibility. And one I don’t take lightly!

All of us in the financial industry have a huge responsibility. Every time we meet and talk with a client we are guiding and advising them on their financial lives. It is a huge burden to have on your back. We are dealing with people’s livelihood. If we don’t do our jobs correctly we can leave families devastated. On, the flip-side, when we do our jobs well, we give families hope, and a bright and secure financial future. Hopefully, you recognize this and truly care about the people you are meeting with. If not, I challenge you to rethink being in this industry.

If you do truly care about people, and are anything like me, there have been times when you have second-guessed yourself. Some questions and doubt might creep into your mind… Am I really doing what is best for my clients? Is that fixed rate annuity at x% good enough? Would they be better off investing in the market? And the questions go on and on! If these thoughts have ever crossed your mind, take pride in that. It means you care and are doing your best to put your clients in the best financial position possible.

It you are concerned about whether you are doing a disservice to your clients by recommending a fixed rate annuity at x% or having them put their money into cash value life insurance, then let’s look at the S&P 500, because it is the most common benchmark used to evaluate and compare investment returns.

In 1999 the S&P 500 ended at 1469.25. In 2016 the S&P ended with a historic high of 2,238.83. If you were to average the return over those 17 years, the actual average return is about 2.51%. (and that is ignoring annual fees!) So, if you had sold them a 3.0% fixed annuity they would have made more money.

Remember, by law we are required to remind our clients over and over again, “Past Performance Is Not An Indicator Of Future Results!” We have no idea what the future holds. No one does. We can only hope the market will do well, but we can’t be sure.

Also remember, for many people, this is the only money they have available to them for their retirement. Can they afford to lose any of it? If they lose money, what would that do to their retirement income? If their income goes down, will they need to start taking some of their investment principle? If they start taking their investment principle, could they eventually run out of money? Is it worth that risk?

If you want to make sure you are doing right by your clients, you need to have a real conversation with them. If you are doing a ‘1-size-fits-all’ approach, you may want to rethink what you are doing. Are you actually doing what’s best for your client? It is crucial to find out what their goals and priorities are.

I know one of the biggest issues I have seen recently when helping agents on their cases, is that the client’s original agent ignored or didn’t take the time to find out what the client actually needed or wanted… growth, liquidity, safety, guarantees, lifetime income, minimize income taxes, etc! Instead the agent put them into one of the hot new ‘income rider’ variable or index annuity products. While these products do guarantee an income, the income is based on them never needing or touching the investment principle. Is that providing what most people actually need and want?

This brings me to my final point, how can we know what’s best for them? Half of the time, our clients don’t even know what they really need or want. Many times, they don’t even know what kind of questions to ask you. There is slim to no training out there for the average family on their finances. Our country is sadly, very ignorant on their financial situations. So, if they don’t even know, how are we supposed to figure out what is best for them? Simple, ask questions! Get them thinking, and find their needs and ultimate desires.

There is much more to selling annuities than just offering ‘income riders!’ Do a proper fact-find; ask them all the different questions so you can find out their desires and tailor a plan to meet their exact needs and wants. The best part about doing this, you will close significantly more cases, and you won’t get replaced. Plus, people will refer you to everyone they know!

To find out more on how you can help your clients, the different approaches you can take, what questions to ask them, and how to truly be a hero to your clients, give us a call!

Toll-Free 877-297-4608 or Direct 770-443-2852

By Alex Villa, CTA
Insurance Pro Shop

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“I have been working with Jeremy Nason at the Insurance Pro Shop on Annuity & Life cases for the past couple years with great success. In a nutshell, I have found that my IMO’s have tunnel vision when it comes to case design. And to be blunt, most are not good at it. They tend to focus primarily on pushing product. Jeremy, on the other hand, is the polar opposite of an IMO and he uses both his creativity and case design experience to maximize the benefits for the client in a simple, easy to understand, illustration. He does a great job of comparing the client’s current plan to the “new proposed plan” that we developed in a collaborative manner. As a result, his process helps the client see clearly the major differences between what they’re currently doing and what they should be doing, if they want to live a safe, secure, comfortable retirement and meet their overall goals and objectives. I have found that when I use Jeremy’s system and his easy to understand two page illustrations, the majority of the time I end up making the sale.”
Andrew Maisch – NJ (10 years) March 2016