Don't Let Product Puzzles Spook Your Sales: Your Guide to Life Insurance Solutions
Webinar by: Ira Gottshall & Ed Ledford
Don't Let Product Puzzles Spook Your Sales: Your Guide to Life Insurance Solutions
Are you an insurance agent tired of feeling overwhelmed by the sheer number of products—from Term to Whole Life to IUL—and unsure which one truly fits your client's needs? In this recent "Coffee with Closers" recap, we tackle that very challenge, offering a clear guide to the insurance universe and, more importantly, how our team can take the "spookiness" out of your presentations.
The Permanent Product Showdown: Whole Life vs. Universal Life
When clients are looking for coverage that lasts a lifetime, you generally have two main permanent options. Understanding their core differences is key to making the right recommendation.
The Bottom Line: If your client values certainty and has a steady budget, Whole Life is a contender. If they need flexibility and want tax-advantaged growth potential, Indexed Universal Life (IUL) is often the best fit.
The Value of Term: More Than Just Low Cost
Term Life offers the lowest initial cost for a specific period (10, 20, 30 years). It's perfect for covering temporary financial needs like a mortgage or business loan. However, don't just quote the cheapest policy!
As the agent, you need to guide your client toward quality. We strongly recommend policies with two vital features:
- Strong Conversion Privilege: If your client's health declines before the term ends, they need the right to convert their term policy into a permanent product without new underwriting. The cheapest plans often have poor conversion options, leaving your client exposed to high costs later.
- Living Benefits: The best term policies—the ones we promote—include critical and chronic illness riders. For a slightly higher premium, you provide your client with life insurance they don't have to die to use. This is a game-changer and a huge differentiator for you.
Annuities and Supplemental Solutions
For your clients approaching or in retirement, don't overlook our robust Annuity offerings. They provide powerful tax deferral advantages and can be strategically structured for future income. We also offer Supplemental Products (through carriers like Cigna) that are easy cross-sells for your existing clients:
- Dental, Vision, and Hearing: A must-have for seniors on Medicare Supplement plans.
- Hospital Indemnity: Covers deductibles and co-pays for clients with Medicare Advantage.
- Cancer and Heart/Stroke Coverage: Specific benefit policies that often provide better value than common, highly-advertised competitors.
The FFP Advantage: We Close the Case With You
The beauty of partnering with an IMO like FFP is that you don't have to master the entire "insurance universe" on your own.
As we covered in the training, there are countless carrier and underwriting variables. Some carriers are better for cardiac issues, others for height/weight, and others for quick cash value accumulation. Trying to navigate this alone is where the stress comes in.
This is why we want you to rely on us.
Your path to success here is simple:
- Do a thorough fact-finder with your client.
- Call our team (Christy Downs and our support staff).
- We will use our extensive experience to instantly recommend the best product, best company, and best underwriting strategy for your specific client.
In fact, as Ira Gottshall mentioned in the closing, we have an upcoming session with an agent who has utilized our staff extensively to write very nice cases, and our team has even helped close the case when necessary.
If you're looking for an IMO that provides weekly trainings and direct, expert support that helps you find the right solution and close more cases, you've found your home.
Are you ready to stop being spooked by product decisions and start making more sales?
Join our next weekly training to see how our support team can turn complicated product strategies into simple, successful client presentations.