Asking a simple question can be so effortless and lucrative, yet nearly four out of 10 agents don’t discuss additional products when closing a life insurance sale.1
Skipping these discussions leaves huge sales opportunities on the table. During the initial sale, if you talk with clients about three additional products -- such as long-term care, disability or homeowners insurance -- the probability your client will purchase at least one of those products skyrockets by 50 percent versus waiting until a later date.
Start cross-selling today!
Taking the time to understand and know your clients is key.
If you want to make life insurance your add-on product, visit our new “How to Sell Term Life Insurance” site. The site walks you through the sales process and gives you useful tools you need to get started.
Here are four steps and corresponding sales solutions from the new term life program to make cross-selling easier and more beneficial, for both your clients and you:
1. Perform a financial needs analysis
Performing an initial financial needs analysis allows you to gather basic information you need to serve your clients. Leverage this information by proposing additional products as determined by the analysis. Nearly 80 percent of consumers are worried they’ll make the wrong decision and are looking for advisor guidance.2 Your clients will appreciate your awareness of their needs and your ability to provide appropriate solutions.
Term life solution: “How to ask for life insurance”  walks you through initially meeting with clients, determining current coverage and updating client information to protect your agency from potential errors and omissions liabilities.
2. Understand your clients
Insurance sales are about relationships and trust. And, two-thirds of consumers say they don’t know who to turn to for help or where to buy life insurance.3 Understanding the complexities, needs and individualism of your clients will help expand new business and guarantee you are able to better maintain your long-established relationships.
Term life solution: “Start the conversation” can help initiate conversations about life insurance. This piece provides compelling facts to make the sale in addition to providing sample scripts to start a dialog about your customers’ needs.
3. Educate your clients
Take the time to educate your clients about their coverage. Explaining policies in detail ensures your clients know what to expect and may reveal additional concerns or result in a need for additional coverage.
Term life solution: Sales Brochure. Use this piece when you have a customer sitting with you. Designed to be a sales track and marketing brochure in one, this piece tells how Symetra’s product can help solve the problem or concern at hand. By detailing the problems the client faces and providing an emotional hook, this brochure captures the attention of its audience and immediately provides solutions.
4. Every sale is an opportunity for another sale
Greg Clarke, vice president of the Worksite Distribution Channel at Symetra, says facilitating cross-selling is a top priority.
“Property/casualty agents provide a lot of support to their clients in their areas of specialties,” says Clarke. “Most clients would prefer to work with their trusted agents in all areas of insurance, so it has become important for P-C agents to be prepared to answer questions about life and retirement products and provide appropriate products.”
Term life solution: ATM Campaign, Term Insurance 101. To help you grow your business, Symetra Financial has created Awareness Through Marketing (ATM), a direct marketing program. This mailing series educates your clients and uses retention marketing to compete against large insurance companies and sustain your existing client base.
For help with your sales program, contact the Symetra Financial Sales Center at invest@symetra.com or 1-800-706-0700.
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