How do I transit conversation from P&C product to life insurance?

[Deleted member 87445]

Hi Everyone, does anyone has experience on how to transit conversation from p&c product to life insurance?

I want to stop asking people "do you have life insurance in place" everytime I sold the p&c insurance.
I felt like this is not a good way to start life insurance conversation, maybe it should have been mentioned during P&C talk.

Please share your ideas!

Thanks

 

[fed up]

Since I am a full service agent, Do you gave a financial advisor? What company insures your life? I want to make sure you are getting all of the discounts that I can apply to your premium

 

[Allen Trent]

Who do you insure your income with?

We took care of covering your $20k if it is totalled in a car accident, the $500k to replace other people's income if you injure someone in an accident, but what about your own income if you die in a car accident or from other causes?

If home insurance, we protected the bank by listing them on your home insurance if it is destroyed by fire, etc. But what about making sure your family has money to pay the mortgage payment or pay it off if you die?

I assume, you, like most responsible people want protection in place for their family. Here is how most people decide on the amount of life insurance:

1. Most financial advisors, money magazines, Dave Ramsey reccommend for people in your situation 10-15 times your income in life insurance.

2. Add up all your debts . House, car, student loans, etc to at least make sure debts are paid off

3. Buy an amount so that the lump sum can provide an annual check amount to your family from the interest/return

4. Do nothing, but you don't seem like that type of person that wouldn't want your family taken care of.

Which do you want to go with

Pivoting from PC to life is absolutely by far the easiest transition of all sales because the studies all show people prefer to buy life from their PC agents but most PC never bring it up. Life only agents would pay huge money to have a huge pool of existing customers to cross sell

 

[WinoBlues]

First make them clients.

Second build your file with cross selling in mind.

P&C files have an incredible amount of information in them. Just ask a few more casual questions and you have more than an FNA. You have their lives.

Info in the file - ages, kids, pets, big house or single wide, guns, jewelry, where they work, income, hobbies and toys, RVs, horses, where they bank, friend / referrals, and on and on. Many P&C agents don't know how to glean their file to sell life.

Hell, many Life agents with 10 plus years do not know how to prospect their own books either. They buy leads of other life agent's clients who are buying leads of their clients.

1) Make them clients first
2) Ask a few more questions
3) Listen
4) Build your client file so that information is on top
5) Let them know that you are not a P&C limited agent.
6) Become their guy and they will ask you to buy.
7) Call them or someone like me will.

Damn, I am crotchety!

All IMohsoHO

 

[Thrasymachus]

Goose and the golden eggs; the eggs are insured (home, auto), what happens if the goose can't lay eggs anymore (disability) or dies (life)?

 

[marindependent]

Do you have anything in place to pay off the mortgage if something unspeakable were to happen?

And since you know the approx value of the home and mortgage , the DOB, etc - you are already ready to role with the estimate.