So, sure, it’s potential to chilly name certified candidates and ask the query: Do you could have an excessive amount of life insurance coverage?
This, in fact, is the alternative of what life insurance coverage producers have been skilled to do since they first entered the enterprise, however, nonetheless, it may be useful for individuals who have life insurance coverage insurance policies they now not need, now not want or now not can afford.
Nevertheless, the universe of prospects who nonetheless want insurance coverage is far bigger than the universe of prospects who would profit from a life settlement.
Rejection
A extra doubtless state of affairs is the standard life insurance coverage chilly name that results in the frequent objection: “I have already got sufficient life insurance coverage.”
For those who suppose you are speaking to a prospect sufficiently old to qualify (ages 65 and older), an fascinating pivot from this response might be: “Properly, possibly you could have an excessive amount of life insurance coverage, and I’d give you the chance that will help you with that as properly.”
The muse of your life settlement exercise ought to actually be your current purchasers, by holding conscious of their life modifications, monetary modifications, well being modifications and the standing of their insurance policies, and by constructing purchasers’ consciousness that life settlements exist.
You do not need your senior purchasers to be a part of a rising group of cash-strapped policyholders who let their contracts lapse, or give up the contracts, solely to search out out {that a} coverage may have been value a considerable amount of cash within the life settlement market.
Credit score: blvdone/Adobe Inventory
