“Do you want fries with that?” How many times have you heard something like that at a restaurant? It varies based on the type of establishment. A high end steak house might ask… “Would you like mushrooms or butter on that filet?” The same hold true in clothing stores. Remember when the men were all wearing ties? You would go and pick out a suit, and they would quickly take you over to the shirts and also pick out a couple of ties. I would call this “total account development.”
That is what we need to be doing in the financial services industry. For example, if you specialize in the sale of annuities, are you asking your new, or existing client, “Do you want life insurance with that?” If you are doing that, the answers and response would vary, but you would end up in a meaningful conversation. Let me give you a couple of examples:
“Ms. New Client, congratulations on the purchase of your new fixed index annuity with an income rider. Based on our discussion, you are hoping that the income account might double in 10 years. So, you are hoping that the $100K turns into $200K base on an assumed growth rate of 7% compound interest. Now, all we need is for you to live for that 10 year period to see if this plan comes to fruition. But, do you want dream/plan completion with that?”
Of course, your client might ask what you are talking about. Well, the client would purchase $100K of life insurance so if death occurs prior to the 10 year period, the $100K would step in on a tax free basis completing the dream for the person that might be dependent on this plan.
There are so many examples of this and what a way to “total account develop” your client base. Gang, all you have to do is ask. Many consumers feel as though they are too old or the underwriting is too tough. Many feel as though they might be turned down. You know, you don’t have to have some slick plan, complicated policy, or the newest and greatest. Your client might just want some extra coverage to keep the people that are dependent on them in the world they have become accustomed to.
Want to get into this market and really do the job for your clients while increasing your income? Then give one of our marketers a call or click below for an appointment.
That is what we need to be doing in the financial services industry. For example, if you specialize in the sale of annuities, are you asking your new, or existing client, “Do you want life insurance with that?” If you are doing that, the answers and response would vary, but you would end up in a meaningful conversation. Let me give you a couple of examples:
“Ms. New Client, congratulations on the purchase of your new fixed index annuity with an income rider. Based on our discussion, you are hoping that the income account might double in 10 years. So, you are hoping that the $100K turns into $200K base on an assumed growth rate of 7% compound interest. Now, all we need is for you to live for that 10 year period to see if this plan comes to fruition. But, do you want dream/plan completion with that?”
Of course, your client might ask what you are talking about. Well, the client would purchase $100K of life insurance so if death occurs prior to the 10 year period, the $100K would step in on a tax free basis completing the dream for the person that might be dependent on this plan.
There are so many examples of this and what a way to “total account develop” your client base. Gang, all you have to do is ask. Many consumers feel as though they are too old or the underwriting is too tough. Many feel as though they might be turned down. You know, you don’t have to have some slick plan, complicated policy, or the newest and greatest. Your client might just want some extra coverage to keep the people that are dependent on them in the world they have become accustomed to.
Want to get into this market and really do the job for your clients while increasing your income? Then give one of our marketers a call or click below for an appointment.
 | Until next time… good selling! Raymond J. Ohlson, CLU, CRC, LACP President and CEO The Ohlson Group 1-877-844-0900 |
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