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A new LIMRA/Maddock Douglas survey says most consumers don’t understand basic life insurance terms like “underwriting,” “rider” and “annuity,” and that’s a big contributing factor in 19 million Americans who believe life insurance is valuable and necessary being derailed during the shopping process.
My question is, do you frequently run into problems with prospects not understanding basic industry terminology, and if so, how do you overcome this hurdle?
My question is, do you frequently run into problems with prospects not understanding basic industry terminology, and if so, how do you overcome this hurdle?