How to Sell Life Insurance

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When selling life insurance, it always helps to try to keep a few key tips and techniques firmly in mind. Get tips on how to sell life insurance with help from an assistant professor of insurance at The American College in this free video clip.

Part of the Video Series: Information About Insurance
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Video Transcript

Hello, I'm Kevin Lynch, assistant professor of insurance at The American College in Bryn Mawr, Pennsylvania. Right now, we're going to talk about how to sell life insurance. Life insurance is a product that is sold and not bought. This truism has existed in the industry for well over a hundred years, it doesn't change. What has changed however, is the methods that we use to sell life insurance, today. Most insurance professionals today, no longer sell products, they wisely sell process. But what exactly does that mean? Life insurance is a unique product, it is the only product in the entire financial services universe that does, what it can do. And that is deliver a certain sum of money to your loved ones and survivors, at a date in the future that is uncertain. But even with this unique benefit, many people, because they don't want to consider their mortality, fail to consider life insurance as part of their financial planning process. Even those that do decide to take advantage of life insurance and include it within their plan. A life insurance has to compete with the savings and investment dollars of the family. The reason for this, is that most consumers don't truly understand the financial planning process. And this is not really a surprise, because many financial professionals don't understand it either. The first step of the process is to determine where a person is financially today. The next step is to determine where they want to be on certain dates in the future. And the third step of course, is to develop a plan to get them from where they are now, to those future goals. Now, underlying this entire process must be life insurance. As life insurance is the only thing that will enable the individual or family to be assured that future goals will still be reached. Even if the income that is funding those future goals ends. The days of selling packaged products in the life insurance industry are over. We can no longer simply push product on consumers, based on the fact of that's what we have to offer. The financial planning professional and the financial services professional of the 21st century understands that life insurance is the foundation of the financial planning process. And it must be presented and positioned as such. I'm Kevin Lynch at The American College in Bryn Mawr, Pennsylvania. We've talked about how to sell life insurance, thank you.

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