Make Your Life Insurance Sales Career… ‘Recession Proof’

A few weeks ago, I wrote a series of articles about how I started and succeeded in life insurance sales during one of the worst recessions in history. And, now I’d like to share some ideas on how you can make your life insurance sales career ‘Recession Proof’!

Most insurance agents will have a very tough time selling life insurance (or any other insurance products, investments or services) during a recession, because people are not willing to add to their monthly expenses. In fact, most people are looking for places and ways to cut their expenses. They are worried about what might happen if prices rise, mortgage interest rates rise, real estate values drop, the stock market collapses and they lose their job.

However, if you think about it, their overall financial concerns aren’t much different than at any other time in their lives. They are still concerned about meeting their financial obligations each month; making their mortgage payments; saving for their children’s education; and saving for retirement. The only real difference is that during a recession people are forced to focus their attention and deal with their financial problems right now. They are looking for real help and immediate solutions to their financial problems! They want to reduce or eliminate their debt, cut unnecessary expenses, reduce income taxes, revise their investment strategies, and more! And, the great part is they are much more willing to sit down and talk with a financial advisor, if that advisor is adept at, and focused on, helping them to solve their immediate financial problems.

Many insurance agents using the life insurance sales systems like 'Missed Fortune', 'Infinite Banking', 'LEAP', 'College Funding', 'Money Merge Accounts' and others are already having a problem attracting the right prospects, setting appointments and closing sales in this struggling economy. While these are all good, and maybe even great sales ideas, in a good economy, they have two basic flaws in a struggling economy… 1. They are selling a product or service that requires people to spend additional money. 2. They are weak in delivering a unique marketing message to consistently attract the right prospects.

If you want to sell life insurance when money is tight, then you must focus on solving peoples’ immediate financial problems. You must deliver your special marketing message to become the financial advisor people want to see. You must help people to ‘Find the Money’.

The ‘Found Money Management’ marketing message is… “We help people to get what they want… without them taking any additional money out of their pockets! It’s about helping people to wisely reposition their spending and assets to eliminate debts, improve their cash flow, and reduce income taxes. And, we’ll show you how you can do it all, without changing your current lifestyle!” The main theme of ‘Found Money Management’ is, “Helping People To Live Debt Free and Truly Wealthy.”

Here are just a few ideas on how you can help your prospects to reduce or eliminate debt, reduce income taxes, improve their cash flow, and get all the life insurance they need and want… Without them taking any additional money out of their pockets, or changing their current lifestyle!

Can you help them to reduce or eliminate their debts and improve their cash flow?

* Do they have multiple credit cards and charge accounts with large balances and high interest rates? Could they consolidate all that debt onto one credit card with a lower interest rate and reduce their total payments?

* Do they have cash value in their life insurance policy they could use to pay off their high interest credit cards, or a car loan? Aren't they better off borrowing from themselves and paying themselves back, instead of paying someone else the interest?

* Do they have untapped equity in their home that they can use to reduce or eliminate their debts? Could they take out an equity line of credit?

* Can they refinance their mortgage, to take out some equity and lower monthly payment to improve their cash flow? Mortgage interest is tax deductible. So, they save on income taxes, while reducing their debt and improving their cash flow.

* Can they borrow money from a 401k to pay off their credit card debts?

Can they reduce the premiums on their existing insurance policies to improve their cash flow? And, use that money to pay down their debts, or buy the life insurance they need?

* Do they have low deductibles on their health, auto or homeowners insurance? If they increase their deductibles, how much money would they save?

* Do they have an opportunity to receive a discount on their homeowners, auto and liability insurance policies by putting them with the same company?

* Do they qualify for health insurance through their employer at a reduced cost? Can they cut benefits to reduce their costs?

* Do they have a Critical Illness policy, DI policy, or Long Term Care Insurance policy with long-term benefits? Example: Having a "to age 65" benefit period on their DI policy is fine, but if it prevents them from getting the life insurance they need to protect their family, is the long-term benefit on these policies really necessary? What is the higher priority?

* Do they have low priority riders on the above policies? Could you free up money by removing these riders?

* Do they have cash value polices that can be paid-up with dividends?

* Can you recommend a lower priced quality company for any of their current insurance? Make sure it's truly in the prospects best interests.

Are they funding a retirement plan? Does it make much sense to be putting money into a retirement account making 10% when they are paying out 17% on their credit cards?

* Are they putting money into a Roth IRA? If they need more life insurance to protect their family, couldn't they use a cash value policy for their retirement savings, instead of a Roth IRA? Doesn't a cash value life insurance policy build tax-deferred and generate tax-free income just like the Roth IRA?

* Are they putting more money into a 401k, than is matched by their company? Could they use some of that additional money to pay off their debts and get the life insurance they need?

* Are they are using a traditional IRA, SEP, etc… Again, if they need more life insurance to protect their family, couldn't they instead use some of the money they are putting away for retirement to fund a cash value policy?

Can you help them to reduce their income taxes?

* Could they write off a home-based business? Do they have a hobby they could write off as a business?

* Are they missing any tax write offs? Should they go from the 1040EZ short form, to the long form for tax savings?

* Can you change any of existing their taxable investments, to a tax deferred investment?

These are just a few of the creative ways you can help your prospects to ‘Find The Money.’ By following these Found Money Management strategies and learning how to deliver your special marketing message, you'll attract a steady stream of the right prospects to you, set more appointments and you’ll close more sales. And, you’ll really be helping people to improve their current financial situation, without asking them to spend more money or change their current lifestyle. You’ll become the advisor people want to see!!!

If you are thinking this requires a lot of work and education, you are right.

However, consider what other viable options do you have during this recession…

Using these marketing and sales strategies you can…

Make Your Life Insurance Sales Career… ‘Recession Proof’

Yours in success,
Lew Nason
‘The Nine Out Of Ten Guy’

About The Author Claim your free Report "How to Attract & Sell Your Perfect Prospects" at http://www.FastInsuranceSales.com Where you'll learn how to make 6-figures a year in insurance.

Make Your Life Insurance Sales Career… ‘Recession Proof Part III

As we discussed in the previous two articles, if you want to… Make Your Life Insurance Sales Career… ‘Recession Proof’ you must become adept at, and focused on, helping people to solve their immediate financial problems… And, you must have a marketing program that is attracting the ‘Right’ prospects to you! The final, and most critical step is getting ‘9 out of 10’ of those prospects to take action, right now, on your recommendations. And, it’s a lot easier than you think.

You can have the best ideas in the world on how to really help people! You can have a great marketing campaign to attract the right people to you! But, you’ll still struggle if you can’t get a high percentage of those people to take immediate action.

How To Sell ‘9 Out Of 10 Prospects’ You Meet With!

Unfortunately, one of the least taught and least practiced sales skills today, is the ability to conduct a good, thorough fact-finding interview. A good, thorough fact-find is much more than asking some simple questions to identify a few pertinent facts and concerns, so that you can make a quick sale. It’s asking the tough emotional questions to guide your prospect to self-discovery of their own financial concerns and problems. It’s helping your prospect to get emotionally involved in the entire sales process. It’s helping them feel the real pain of their current situation, so they want to do something about it, right now, to alleviate that pain.

Consider, people don’t always do or buy what they need. Logically, we may know we need to lose weight, quit smoking, save for retirement or pay off our credit cards. But, do we do it? NO! We put it off until we have no other choice, because it’s causing us unbearable pain. Only when the pain becomes too great to live with, will we decide to do something about it.

That’s why a good, thorough fact-finding, is so critical to your success. And, it goes far beyond just asking questions to guide your prospect to self-discovery of their own financial concerns. It’s being genuinely engaged in asking - and listening beyond a sale motive - to take the conversation, and the relationship, to another place. You become their partner in solving their problems, because you cared enough to ask questions beyond the obvious. You cared enough to ask, and did not assume that financial security means the same for everyone. You cared enough to ask what's r-e-a-l-l-y important to them. Rather than do what everybody does - push product, price and investment returns. A good, thorough fact-finding interview helps you build rapport and trust, which enables you to close more sales, close larger sales, generate repeat sales and gather referrals, even in a struggling economy!

You must conduct a good, thorough fact-find with everyone you meet with. And, it doesn’t matter how, or why you get an appointment. The appointment could be for something as simple as discussing mortgage insurance, Medicare supplements, or final expense policies. Or, maybe they agreed to meet with you after they’ve attended one of your seminars. No matter why they agreed to see you… you must conduct a good, thorough fact-finding interview, if you want to sell 9 out of 10 people you meet with.

How Do You Make The Transition To The Fact-Finding Interview?

You’re in their home, or they’ve come to your office, and they’re expecting you to discuss and give them a quote for mortgage insurance, Medicare supplements, health insurance, final expense policies or whatever. How do you make a smooth transition to the fact-finding interview?

You start by asking something like… “Before we get started, is there anything in particular you wanted to talk about?”

They’ll say something like… “I thought you were here to talk about _____ and give me a quote?”

No matter what they say, you’ll say… “Yes, I came fully prepared to talk about ____. But, if I may, I’d like to explain a little bit about how I do business, because I work a little differently from the other people you may talk to”

“First you can put your check book away, because I’m not going to ask you to buy anything today!” Is that Ok?”

“What I’d like to do is ask you some questions, so I can fully understand your situation and I can tailor a plan to meet your exact needs! Does that make sense?”

“Good then let’s get started?”

Now you’ve asked permission to ask them questions, and you are in the fact-finding interview. From here you ask questions to gather the pertinent facts and then use the Who, What Where, When, How and Why questions to get your prospects to talk about their feelings, concerns and problems.

“People Buy Based On Their Emotions…
And Then Justify Their Decision Based On Logic”

The Typical Questions…
“If you don’t mind me asking…”
“Have you thought about when you’d like to retire?”
“How much money are you currently putting away for retirement?”
“How much have you already saved for retirement… etc?”

The Emotional Questions…
“How much income will you need in retirement?”
“How did you come up with that figure?”
“How much money would you need to have saved in order to generate that income?”
“What would you like to be able to do in retirement?”
“Where would you like to go?”
“When would you like to go?” “Who would you like to see?”
“Why is that important to you?”

“How do you feel about what you’ve saved so far?”
“Has anyone taken the time to figure our exactly how much you’ll need to retire?” “What would you like to see happen?”
“How does that make you feel?”
“Would you like to know how much income you’ll need for retirement?”
“Would you like to know how much money you’ll need to have to generate that income?”

“When you retire, what’s more important the amount of money you’ve accumulated or the amount of money you get to spend?”

“Do you think social security will be there when you retire?”
“Even if it’s there, do you think it will provide as much for retirees as it provides today?”
“If Social Security isn’t there what will happen?”
“How do you feel about that?”

Your prospect says: “I’ll never retire!”…
Advisor: “Why do you say that?”
“Is that how you really feel?”
“Is that because you feel you’ll never save enough for retirement?”
“If I could show you how to have the retirement you want without sacrificing your current life style would you like to know how?”

Summary
The ability to conduct a good, thorough fact-finding interview is what enables the Top Life Insurance Producers to consistently earn $250,000, $500,000 or more each year. It’s why they are able to… Sell ‘9 Out Of 10 Prospects’ They Meet With! It’s why they consistently close larger sales, and consistently generate more repeat business. It’s why they are able to work with fewer prospects. And, it’s why they get more referrals and spend less time and money prospecting!

Is fact-finding easy? No! Is it more work? Yes!
Can you learn how to conduct a good, thorough fact-finding interview? Yes!

Yours in Success,
Lew Nason
The Nine Out Of Ten Guy
Trainer, Coach and Mentor…

About The Author Claim your free Report "How to Attract & Sell Your Perfect Prospects" at http://www.FastInsuranceSales.com Where you'll learn how to make 6-figures a year in insurance.

Auto Insurance Brokers - Can They Really Save You Money on Car Insurance?

Auto insurance brokers are the people that can actually write insurance policies. They are the ones that are licensed to operate an insurance agency and they are also the ones that hire and train the auto insurance agents that staff most agencies. They are typically licensed by the state and have more experience than the agents working under them, but can they save you money?

The answer is yes they can save you money, but not as much money as you could save yourself if you were to shop for your car insurance online. Some auto insurance brokers specialize in finding low quotes for their customers and for many years this was the only way to find a great deal on car insurance.

Now consumers have another option; they can shop online for their car insurance and cut out the middle man. Shopping for an auto insurance policy online is the surest way to find the best deal on car insurance.

The reason for this is that when you shop online for vehicle insurance you are able to view quotes from multiple companies. Car insurance is a very competitive industry so the companies will do their best to earn your business. As always competition benefits the consumer.

The car insurance quotes you receive from the competing companies will be estimates based on how you answer certain questions so to get the most accurate quotes it is important to answer the initial questions as completely and accurately as possible.

After you review the quotes and find the one to your liking make sure that it offers you the coverage level that you need before purchasing it. If everything looks good then you will have found the least expensive car insurance for which you are qualified and you should give yourself a pat on the back.

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Auto Insurance Company Ratings - How to Check Car Insurance Ratings

Many people look at shopping for car insurance as a chore that needs to be done, but in reality it is an opportunity. The opportunity to save a few hundred dollars a year doesn't come around very often so when it does you should take full advantage.

One of the great indicators that an insurance company is worth doing business with is to check the auto insurance ratings. These ratings are determined by independent companies who collect data from thousands of customers in order to determine a rating.

These ratings are great indicators of how well a company does as reported by its own customers, but they are not foolproof. Some people would be happy to trade a below average customer service rating for a less expensive auto insurance policy. So it is important to decide what is important to you when choosing a car insurance company.

The single most important thing that you can do when searching for automobile insurance is to gather as much information as possible. The consumer ratings are a good tool, but the online web calculators are also useful tools.

The online insurance calculator will ask you several questions and then tell you the appropriate amount of insurance to buy. Using this tool in conjunction with consumer reviews will give you a good indicator as to which company to look into for your auto insurance needs.

The last thing is the one that most people concentrate on and this is the cost of the policy. The quote you receive will likely be one of the main determining factors that influences your decision regarding which company you will buy your car insurance from.

By using all of the above mentioned tools in your search for inexpensive auto insurance you are more likely to reap the greatest savings and find a company that is highly regarded in the industry.

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Car Insurance Comparison - 3 Steps to Multiple Quotes

Are you part of the 75% of consumers who don't shop for an annual car insurance comparison? If so, don't feel guilty -- shopping for car insurance takes time and multiple quotes can get mighty confusing. At least, that was true of the old-fashioned way where you had to pick up the phone and power dial half-a-dozen different agents to get quotes.

But the times they are a changin' and now it's possible to complete a car insurance comparison in less time than it takes to drink a cup of coffee. How, you ask? Online, of course! Your car insurance comparison can all be accomplished quickly and painlessly if you fire up your computer and follow the three steps outlined below.

Step 1. Gather some basic personal information before you start. You will want to have: a copy of your current car insurance policy (so you can refer to current coverage amounts); the make and models of all cars being insured; a history of accidents or other car insurance claims over the past five years (for each driver being insured). It's also helpful to know the approximate length of time you've been insured with your current company -- you'll get a better quote if you haven't been switching around between companies.

Step 2. Now it's time sit down at your computer and choose an online insurance quote provider. These are companies who have relationships with dozens, perhaps hundreds, of major car insurance companies. By using an online quote provider, you aren't limited to getting quotes from just one company. And we all know that competition results in lower prices, so it's in your best interest to get quotes from as many different companies as is feasible. But limit the number of quotes you get to seven, or you'll burn a few brain cells trying to compare them.

Most online quote provides will match you with at least five different insurance companies. These companies can range from small independent agents who are located near you, to the very largest insurance companies who do business in all fifty states. Depending on the state where you live, you may also receive a quote from one of the strictly online companies like Esurance (but these companies are not licensed to provide insurance in all fifty states).

If you aren't sure which online quote provider to use, there is one recommended at the end of this article.

3. Now it's time to actually complete the online application. The good news -- you only have to fill out one application in order to receive multiple quotes. Complete the application as completely and honestly as possible. The insurance companies will use the information you submit to provide their initial quotes, but they will verify all of your personal information before agreeing to a final policy. It's important to remember that an online insurance quote will save you time, and probably money, but it's not an opportunity to defraud the insurer.

Once your application has been submitted, all you have to do is sit back and wait for the quotes to start coming in. You'll probably have the first one in your email box within the hour. Once you receive at least five quotes, you should have a pretty good idea of your best car insurance rate. If it's been a few years since your last car insurance comparison, chances are, you're looking at savings of about 15% on your car insurance. Now wasn't that worth an hour of your time?

If you need to find a reliable online quote provider, please visit the website recommended below.

About The Author Barb Dearing is a writer specializing in topics that help consumers save money. She recommends the following website for consumers shopping for car insurance quotes - http://www.shop-car-insurance.com

The Secrets Of Cheap Car Insurance For Teen Drivers

Just yesterday they were cutting their teeth on your car keys. Now your precious angel is all grown up (or so they think) and their ideas of what they should be doing with your car keys have changed a little bit. Are you ready for the challenge of trying to findcheap car insurance for your teen driver?

There's always been a tremendous amount of hype about teen drivers and cheap carinsurance (or the lack thereof). Most parents expect their monthly premiums to fly through the roof when their teen gets their drivers license, and in most cases they're not far off. Did you know that the average sixteen year old is, statistically speaking, ten times more likely to be involved in an accident than a thirty or forty year old driver?

Those numbers probably don't come as a shock to anyone, especially anyone living in a major urban area like Los Angeles or New York. Experienced drivers get into accidents every day in these bumper car towns, so a driver with no experience dealing with the fact that many people forget how to drive when they're stuck in traffic is doomed before they ever step out of the house! The down side is, fixing cars costs money. If your insurancecompany's going to be paying for claims (which they expect to do if they're bringing a teen driver on board) they're going to charge you for it.

The good news is that cheap car insurance for teen drivers isn't as unheard of as most parents think it is-understanding, of course, that "cheap" is entirely relative. There are things that you as a parent and your teen as a driver can do to keep costs low while at the same time minimizing the chance that they'll be involved in an accident.

First and foremost, make sure your teen completes a formal driver's education program, with X number of hours spent working with a driving instructor with nerves of steel in the passenger's seat. Most schools offer a driver's education program, and in some states it's mandatory; however, if your teen's school doesn't or they're not enrolled make sure they complete a formal training program. Not only does that add positive points to their license right from the very beginning (which is going to pave the way tocheap car insurance more quickly than anything else you can do) it will also teach them some of the basics for dealing with emergencies when they're behind the wheel.

Secondly, if you really want to find cheap car insurance for your teen driver you're going to have to convince them to help. Teen drivers with good grades are able to enjoy good student discounts, so this might be the time for your teen to find their place on the school honor roll or Dean's list. Also, once they hit the highways encourage them to follow the rules of the road and keep their nose clean. A clean record will go a long way toward sending your car insurance premiums spiraling.

Finally, take an active role in the hunt for cheap car insurance. Consider purchasing your teen their own car or restricting their driving privileges to the least expensive vehicle in your household. Shop around to see which car insurance providers are teen friendly, and consider raising your deductibles in exchange for lower premiums for the rest of the year.

Cheap car insurance for teen drivers isn't the impossible dream many parents think it is, but it's up to you and your teen to take the steps that will make that dream a reality.

About The Author Clifford F. Berman is CEO of http://QuoteScout.com. For more information on cheap car insurance for teen drivers, visit them on the web at http://www.QuoteScout.com.

Car Insurance Comparison - 3 Steps to Multiple Quotes

Are you part of the 75% of consumers who don't shop for an annual car insurance comparison? If so, don't feel guilty -- shopping for car insurance takes time and multiple quotes can get mighty confusing. At least, that was true of the old-fashioned way where you had to pick up the phone and power dial half-a-dozen different agents to get quotes.

But the times they are a changin' and now it's possible to complete a car insurance comparison in less time than it takes to drink a cup of coffee. How, you ask? Online, of course! Your car insurance comparison can all be accomplished quickly and painlessly if you fire up your computer and follow the three steps outlined below.

Step 1. Gather some basic personal information before you start. You will want to have: a copy of your current car insurance policy (so you can refer to current coverage amounts); the make and models of all cars being insured; a history of accidents or other car insurance claims over the past five years (for each driver being insured). It's also helpful to know the approximate length of time you've been insured with your current company -- you'll get a better quote if you haven't been switching around between companies.

Step 2. Now it's time sit down at your computer and choose an online insurance quote provider. These are companies who have relationships with dozens, perhaps hundreds, of major car insurance companies. By using an online quote provider, you aren't limited to getting quotes from just one company. And we all know that competition results in lower prices, so it's in your best interest to get quotes from as many different companies as is feasible. But limit the number of quotes you get to seven, or you'll burn a few brain cells trying to compare them.

Most online quote provides will match you with at least five different insurance companies. These companies can range from small independent agents who are located near you, to the very largest insurance companies who do business in all fifty states. Depending on the state where you live, you may also receive a quote from one of the strictly online companies like Esurance (but these companies are not licensed to provide insurance in all fifty states).

If you aren't sure which online quote provider to use, there is one recommended at the end of this article.

3. Now it's time to actually complete the online application. The good news -- you only have to fill out one application in order to receive multiple quotes. Complete the application as completely and honestly as possible. The insurance companies will use the information you submit to provide their initial quotes, but they will verify all of your personal information before agreeing to a final policy. It's important to remember that an online insurance quote will save you time, and probably money, but it's not an opportunity to defraud the insurer.

Once your application has been submitted, all you have to do is sit back and wait for the quotes to start coming in. You'll probably have the first one in your email box within the hour. Once you receive at least five quotes, you should have a pretty good idea of your best car insurance rate. If it's been a few years since your last car insurance comparison, chances are, you're looking at savings of about 15% on your car insurance. Now wasn't that worth an hour of your time?

Ready to start your car insurance comparison? Visit the online quote provider recommended below… they provide five quotes from local and national insurancecompanies and the service is free.

About The Author Barb Dearing is a writer specializing in topics that help consumers save money. She recommends the following website for free car insurance quotes: http://www.shop-car-insurance.com/3.html