Client Needs Assessments: Part 1

Do you want a more efficient and productive sales approach? Try applying a Client Needs Assessment on your next appointment. Many of us speak with our prospects and try to get them to buy a Medicare Supplement, but that isn't necessarily the best approach.

What if instead of trying to force a Med Supp sale, you started by asking specific questions, specifically crafted to uncover the needs of your prospects? By doing this, they'll tell you what kind of product makes the most sense for them at the moment.

After you've uncovered their needs, it's much easier to sell them a policy, whether it's a Med Supp, Final Expense, or something else. Also, you can review clients' answers down the road to cross-sell additional policies they may need.

Uncovering Needs

In this 5-part series we'll offer a few questions you can use to identify which type of policy makes the most sense to focus on first. The first question is:

Do you know friends or family who have used home health care or gone into a nursing home?

Depending on their answer, follow up with these questions:

  • How did they pay for it?
  • How would you pay for it?

I think you’ll find the vast majority of your clients (or potential clients) have had a family member or friend experience a long term care situation.

This is your opportunity to present possible solutions for the LTC dilemma. Many of our agents are presenting the Life/LTC hybrid product, because:

  • It's easy to understand
  • There are no rate increases
  • Someone will be paid (the insurance WILL BE USED)

Example Case: Life with LTC Rider

  • Client: 65 female
  • Death Benefit: $200,000
  • Monthly LTC Benefit: $8,000
  • Monthly Premium: $302.17
    (or single premium of $49,598)

Missed the other parts?


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