Tag Archives: Clients

60 Percent of Adults with a High School Diploma or Less Don’t Have Life Insurance

Need Life Insurance?Sixty percent of adults with a high school diploma or less do not have any life insurance coverage, while only 44 percent of college educated adults have forgone life insurance, according to a new study published by Genworth Financial.

The study also found that college educated adults have 2.5 times the amount of life insurance coverage of adults who did not graduate high school or only received a high school diploma.

This is a significant gap that our life insurance agents at National Agents Alliance can target their efforts. Consumers often don’t realize the cost of life insurance is much lower than widely perceived. In fact, the cost of just a few cups of coffee a month is often the same cost of adding adequate life insurance coverage.

For those who are single, it would be wise to purchase a life insurance policy now in order to lock in the low and affordable rates that will only climb as you age.

It is important NAA life insurance agents show their clients that life insurance creates a safety net underneath their family, should the provider pass away. This is an investment that can secure a family’s financial future, in which just one single event could have potentially destroyed if they don’t have coverage.

Regardless if your client is college educated or has a high school diploma, everyone needs adequate life insurance.


Life Insurance Sales Tips: Top 7 Ways You Could Be Turning Off Your Customer

For the Customer!People are generally a little leery of sales people, no matter which type of sales people you encounter. While National Agents Alliance has many highly trained and top performing sales people who know how to work with clients, there are things that many sales people do that rub customers the wrong way.

LifeHealthPro.com has revealed the top ways sales people can turn off their prospects:

  1. Being late for appointments: This sends a huge red flag to your prospect. Not only is it not professional, they begin to lose confidence in you. Make sure when you book appointments that you allow for a small delay because of traffic or an overly talkative customer.
  2. Talking too much: You’ll never make a sale if you’re talking too much. If you’re talking too much that means you’re not really listening and helping your clients.
  3. Interrupting your customers:  This is not only rude, it’ll turn your client off immediately.
  4.  Going too far into detail about your product or solutions:  This is the fastest way to give your client information overload. This is only going to confuse them and put off their buying decision in order to filter through the mass amount of information you gave them.
  5. Failing to follow through:  If you said you were going to send the client information or look into something further for them—then do it! This just sends the signal that you’re unreliable.
  6. Pitch your offering before determining if a need exists: If you going to pitch a product that your client doesn’t need or isn’t interest in, they will tune you out instantly and your sale will quickly head south. After all, you’re there to help them.
  7. Not updating your product knowledge:  Products change every year and if you’re going to sell them, you need to know their ins and outs.


Father’s Day is Almost Here! Are You Truly Thinking About Your Dad?

Happy Father's DayAs Father’s Day approaches and we begin to celebrate our fathers and all of the sacrifices they have made, we also need to think about how you can protect him.

Typically, the dads are the ones purchasing the car, house, health and other insurance for his family. In doing so, they often forget to obtain insurance for themselves.  As the bread winner and the provider of the household, it would be financially disastrous if they were to be hurt on the job.

A misconception that many people have is that if you’re hurt, or sick on the job that their employer will cover them. This isn’t always the case. Under the Family Medical Leave Act (FMLA), fathers will only be protected for up to 12 weeks in a 12-month period; and at age 30, the odds of having a disability before age 65 that lasting three months or longer is around a whopping 40 percent, Insurancenewsnet.com reports.

If your disability leaves you out of work for more than three months, your only options are using your sick or vacation pay, unless your employer offers their employees a short-term disability plan. If you’ve used all your time off or need additional time to recover, you will likely go without a paycheck until you are well enough to go back to work.

This is a very real scenario that could happen to your family. Just think of the repercussions of your family’s sole breadwinner became disabled.

It’s a good idea to consider more than just a new tie or a gadget for Father’s Day this year, instead think about how you can protect your dad or husband and your family. A short-term disability protection policy is a great option to consider, because it pays a percentage of the wages while a person is unable to work.

“Paying a little extra for an individual disability policy gives a father the ability to take advantage of the coverage, when it’s needed most. Disability insurance coverage provides peace of mind, in the event an illness strikes or some accident occurs and the father is unable to do what he does best,” says insurance lawyer Frank Darras said to Insurancenewsnet.com.

At National Agents Alliance we offer various products that can help protect your family in several ways. Whether you need disability protection insurance, life insurance, spouse life insurance, final expense insurance or mortgage disability insurance, NAA has a solution for you. Just visit www.naalife.com or contact an NAA agent to get your free quote.


The 5 Life Insurance Myths Dispelled

Life Insurance MythsWhen it comes to insurance there are so many myths that have led consumers astray, and life insurance is no exception. In fact, for many people, life insurance is the most confusing road to navigate. But, because of the myths surrounding life insurance, many people decide to go without it—setting up their family for financial disaster in the event of an untimely death.  As part of the National Agents Alliance team, it is the responsibility of our agents to keep our clients informed of the truths and falsehoods surrounding the products we can provide.

InsuranceNewsNet.com has dispelled the top five life insurance myths:

  • Myth #1: There is no reason to buy life insurance when you’re young.

This couldn’t be further from the truth. Just because you’re young doesn’t mean that you wouldn’t leave a burden on your family if you suddenly died. If you buy a life insurance policy when you’re young and most likely healthy, the premiums are lower and it is usually easier to qualify for a policy. In addition, the coverage will remain in place no matter what happens with that person’s health down the line.

  • Myth #2: No-medical exam life insurance is the best choice.

While this may be a great option for some, people who are in good health should consider a traditional policy. The health exam might take a little more time, but taking that time can mean qualifying for better policy rates. Traditional policies also offer more options in terms of policy length and coverage amounts, letting the buyer choose what they really need.

  • Myth #3: Buyers need to choose between term and whole life insurance.

These are the two main types of life insurance offered to consumers, and some people have a hard time choosing between the two. But, many people don’t realize is that there is no need to choose. It’s often the wisest course to have one of each. A whole policy covers the long-term, and a term life insurance policy covers the period when a larger amount of coverage is needed.

  • Myth #4: Life insurance is expensive.

Life insurance is much more affordable than many people believe. In fact, a recent report released by the LIFE Foundation and LIMRA, consumers inaccurately believe that life insurance costs nearly three times the actual price. A healthy 30-year-old consumer, who wants a 20-year, $250,000 term life policy can expect to pay only an average annual cost of $150.

  • Myth #5: Life insurance isn’t available to senior citizens.

In the past it was much harder for senior citizens to obtain life insurance. But more companies are now offering coverage to senior citizens than ever before. It’s never too late.


Four Ways You Can Build A Client’s Trust

Building TrustTrust and sales go hand in hand. If someone feels that they have some reason or indication not to trust you, then you’re toast—forget about making that sale. Trust is an elusive thing, because it has to be earned and great salespeople understand that. They make it their priority to earn a client’s trust each and every time.

Eyesonsales.com offered some tips on how you can earn a prospect’s trust and respect:

 

  • Respect their time: Everyone is busy. When calling a prospect, respect their time by asking if now is a good time to talk. If you scheduled a meeting with a prospect, be on time and don’t run the meeting over the scheduled time. It is also a good idea to call the person you are meeting to confirm your appointment and make sure that the time still works for them.
  • Call or show up on time: This sounds like a no-brainer, but agents still tend to be late from time to time. If you’re running late for a meeting, call the person you are meeting and let them know. In the end, if you say you’re going to show up or call someone at a specific time, do it.
  • Avoid pitching: Decision makers are subjected to countless sales pitches by sales people who are desperate to sell them their product or service. Unfortunately, most pitches are a one-way presentation and they do little to compel or motivate someone to take action. A more effective approach is to engage your prospect in a conversation. People don’t want to listen to a sales pitch; they want to know how your product, service or solution is going to help them solve a particular problem. You need to have your presentation ready and well-rehearsed. But…and this is a big but…you also need to throw it away just before you walk into your prospect’s office. I mean this figuratively, of course. Use that presentation to outline the key points of your solution and how the prospect will benefit. But, more importantly use it to open up a dialogue and create a two-way conversation with your prospect, Eyesonsales.com advises.
  • If you know you can’t help them, refer them to someone who can: If you meet with a client and realize that you may not be the person to help this individual, then you should stop trying to sell to them, and point them in the direction of someone who can. This builds trust with the client, who will either call you again when they can use your services or refer a friend to you.


Single Families: The Forgotten Market for Life Insurance

Single FamiliesMarried couples and families are the first demographic to come to mind when we think of people who would buy life insurance. But, according to a Pew Research study, only 51 percent of American adults are married.

While that statistic doesn’t mention whether those singles have any dependents, it’s pretty safe to say that is a huge pool of customers that shouldn’t be ignored. Single individuals are people who still need National Agents Alliance’s help in understanding the importance of life insurance.

While some people are better off financially than others, and have the cash to cover final expenses and cover any debt that they may have; chances are that there are more people who don’t have that luxury.

In order to find out how you can help a single individual LifeHealthPro.com has revealed some questions that you can ask to in order to help provide life insurance protection:

  • Do you provide financial support for aging parents or siblings?
  • Do you have substantial debt you wouldn’t want to pass on to surviving family members if you were to die prematurely?
  • Did family members pay for your education?

If they answer yes to any of these questions, then life insurance is something they definitely should consider.  In the event of an untimely death, this will provide peace of mind knowing that their children’s tuition will still get paid, their elderly parents will still receive the nursing care that they require and their family will not be left with a pile of debt.

The economic climate has also made “permanent life insurance an attractive asset class for the purpose of building a secure long-term rate of return for safe money assets. Cash value in traditional life insurance may provide a 3 percent to 5 percent long-term rate of return over a 20-year period. This can provide singles with money for opportunities, emergencies and retirement,” LifeHealthPro.com reports.

Furthermore, it’s important to express that the cost of purchasing life insurance is lower at young ages, which also allows them to protect their insurability for the future.

These are all valid reasons you need to express to your clients as to why life insurance is something they should seriously consider and how National Agents Alliance can help them.  Now, as Andy Albright would say, “Hammer Down!”


The Cost of Waiting

The Cost of WaitingHere is a scenario of two young agents with National Agents Alliance planning to save for the future.  Both agents are 24 years old and, since they are in the financial services industry, they decide to start thinking long-term about their future just like they recommend to their clients.

One of the strategies they discuss is putting some extra money away in an IRA on top of their other investments.

One of the young agents procrastinated, like so many of our clientele do, while the other began a savings plan right away.

The “smart” agent put $2,000 in an IRA starting at age 24 and again each year through age 30.  He invested a total of $14,000 but at age 30 decided to stop adding to the IRA.  When he reached age 65 his IRA totaled $1,074,968.  Because he started early, and his money had “time” on its side, it compounded year after year to over a million dollars.

On the other hand, our procrastinator found excuses for not saving, excuses similar to those our clients come up with.

Finally, at age 30, the second agent decided to go ahead with the savings plan and put $2,000 in the IRA every year, and while he managed to accumulate over a million dollars by age 65, he had to put in his $2,000 every year all the way through age 62.  That’s thirty-three years compared to seven years!

Do you think it’s important to get your clients to start early in planning their financial future?  It’s made even more clear when you see the numbers! Agents must “practice what they preach” and follow Andy Albright’s tenets from The 8 Steps to Success…number 1:  Personal Use.  Show clients you believe in planning for your financial future and you’ll have an easier time getting them to do the same.

Age Agent 1 Agent 2
24 2000
25 2000
26 2000
27 2000
28 2000
29 2000
30 2000 2000
31 2000
32 2000
33 2000
34 2000
35 2000
36 2000
37 2000
38 2000
39 2000
40 2000
41 2000
42 2000
43 2000
44 2000
45 2000
46 2000
47 2000
48 2000
49 2000
50 2000
51 2000
52 2000
53 2000
54 2000
55 2000
56 2000
57 2000
58 2000
59 2000
60 2000
61 2000
62 2000
63
64
65
Total $1,074,968 $1,085,197

The cost of waiting?    $54,000!!!


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