ID 20 WINNERS — Q&A
Why Factor Q&A from page 21
Pinney: The two most important ideas that we as agents,
advisors, and an industry can convey to our clients and
prospects are that:
1) we are here, open for business, and willing to help them
by answering questions and making sure they have the
appropriate protection for themselves, their families, and
their businesses, and
Rubin: You may have no
idea what the person on the
other line has gone through in
the last 30-60 days. But what we
do know is there will be a need
for our solutions before, during
and after this pandemic.
2) proper planning, even when done during a time many think
of as too late, actually gives them the best opportunity to
thrive during the current world, economic, and personal
turmoil they may be facing. We also need to stay upbeat
and remind them that insurance and the related financial
products and services we offer were specifically designed
to help them through times like these.
Time to communicate
Ross: I like the saying that “You can’t bury your head in the sand,
and then complain that it’s dark!” Similarly, we can’t bury our
heads in the sand and complain that our business is tanking.
Although I can’t guarantee you that communicating with your
agents and clients will result in spectacular success, I can assure
you that failing to communicate with your agents and clients
will likely result in failure.
In these difficult financial times we run the risk that life
insurance is one of the first things clients will discontinue
paying for. More importantly than selling new policies, we
need to make sure that our clients don’t lapse their existing
policies! And, that demands communication. We need to
reinforce to clients the incredible bedrock of financial security
their life insurance policies provide. For some clients, if their
“financial back is against the wall,” they may come to find that
their life insurance policy has cash values they can access to
help see them through. Take a policy loan now, and pay it back
when you get back on your feet. And, heaven forbid, for those
people that contract the virus and die unexpectedly as a result,
their life insurance policy will definitely be their most valuable
financial asset.
Verbos: Reality is that there’s nothing today in our process that
can’t be performed while working remote. We’ve created a
complete end-to-end electronic process that in many situations
(age and benefit dependent) can be completed without getting
our clients life insurance coverage in as little as a few days
providing them the coverage they need even in the absence of
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Perspectives
Q2 2020
in-person meetings.
With recent studies reporting an increase in new application
submissions over these past weeks, there’s never been a better
time to let your clients know that you’re here, and able to help
them narrow or eliminate any shortfalls they may have in their
plans to protect the financial future of their families.
So, while we’re all doing our part to stem the spread of
Covid-19, reach out to your clients, let them know you care, and
discuss life insurance as you ensure their well being because
now is the time we must focus on the insurance planning side
of our practices.
Shelow: We know from our research that consumers need
to understand why they require life insurance as the basic
motivation and inspiration to buy it. This pandemic has
emphasized the reality of uncertainty and illustrates the need
for protecting families and businesses in the wake of this
uncertainty. It’s time to proactively communicate, educate and
give guidance on the importance of putting protection in place.
Even in today’s age of social distancing, the good news is that
there are fast and easy ways to lock in protection quickly, even
if you can’t see clients right now. Leveraging video conferencing
tools, e-solutions and accelerated underwriting programs come
to mind. Many carriers are stepping up and raising accelerated
underwriting limits and finding ways to write the coverage
without getting medical exams.
Why Factor Q&A continued on page 24