5 Tips to Cross Sell Life Insurance to Clients – Agency Forward® – Nationwide

Life insurance can make a big difference to your clients and their families. They want to buy from someone they know, so be sure to ask. if you don’t, someone else will. according to limra, 36% of consumers say they plan to buy life insurance within the next 12 months.1 without the right amount of life insurance, households can be severely financially impacted by the loss of a primary breadwinner . the emotional trauma of losing a loved one is more than enough to cope with.

Cross-selling life insurance is also great for your business. Your agency could see increased client retention and increased revenue. As you know, income increases with enhanced retention that helps you keep more auto and home premiums.

Reading: How to sell life insurance effectively

To help increase your life insurance sales, licensed life insurance agents can use these tips to learn how to cross-sell insurance policies.

1. hire your csrs without life license

  • The Strategy at a Glance:
    • While they can’t discuss life insurance with clients, unlicensed csrs can help identify clients who need life insurance. csrs and staff members who interact with clients when they visit or call your office can help collect basic information about them and pass it on to a licensed lifetime agent for review and follow-up
      • To implement your plan:
        • Encourage unlicensed csrs and staff members to ask every client who comes into the office to fill out screening forms so you have the most up-to-date information2
        • Thank customers for taking the time to fill out the forms and let them know someone can follow up with them
        • send completed forms to a licensed professional for review and follow-up3
        • tip: consider offering a reward to the staff member who turns in the most complete forms4
        • 2. mention life insurance in every conversation

          • The Strategy at a Glance:
            • Develop the habit of mentioning life insurance to every customer and prospect and encourage staff members to include life insurance in every conversation
            • Choose topics of conversation that work for you and use them when talking to clients:
              • “do we handle your life insurance here or do you have a policy with another agency?”
              • “By the way, when does your life insurance expire?”
              • “When was the last time our agency reviewed your life insurance coverage?”
              • “Once we get your [auto/homeowners] policy quote, let me give you a quick life insurance quote to see what kind of price we can offer you.”
              • “It only takes me a few minutes to generate a life insurance quote to give you an idea of ​​the cost. can I make one for you?”
              • “I want to make sure we take the time to talk about the most important policy my agency offers: it’s the policy that helps protect your family’s future.”
              • “As part of our agency’s commitment to your family, we want to make sure they are protected if something were to happen to you.”
              • If you have a short real-life life insurance story, consider telling it to your client: “Since xxxx happened to my xxxx, I am committed to making sure that I at least offer life insurance to all of my customers, can I do a quick quote so you can see what you would be looking for in terms of a monthly cost?”
              • Share these conversation starters with unlicensed staff members:
                • “Do you have a plan to handle unexpected financial challenges? if not, we have an agent who can help you get started. Would you be interested in making an appointment with (name of staff member on life leave) to learn more?”
                • “If something happens to you or your spouse, would you like to find a way to pay off your car loan and mortgage? If you are concerned about this and don’t have a plan, may I recommend that you make an appointment with (name of staff member on leave for life)? Is it okay if I ask him to call you to fix something?”
                • “I know you’re in a hurry right now, but I’d like to ask you to let [name of staff member on life leave] review your life insurance coverage. It’s important to me that we take the time to do that for our clients.”
                • “Before I forget, [name of staff member on leave for life] would like to talk to you about your life insurance, it will only take a few minutes, but it is a service we are very interested in providing.”
                • 3. talk about life insurance during a p&c sale

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