Life Insurance 101

• Term
• Return of Premium Term
• Universal Life
• Whole Life

• Survivorship
• Guaranteed Issue
• Worksite Marketing

Who’s at Risk?

• Three in ten American households (35 million) are uninsured and half of those state they need more life insurance.
• The “middle market” represents the largest segment of uninsured households, with half admitting they need more life insurance.
• One third of wives own no life insurance at all despite the fact that 7 in 10 households and nearly 30 percent of wives earn more than their husbands.

Why Aren’t They Buying?

• Consumers often overestimate the cost of life insurance by as much as three-fold.
• Thirty-five percent of shoppers who met with a sales rep yet did not buy life insurance said their sales rep failed to follow up.

What Motivates People?

• Life events such as marriage, having children, adoption or purchasing a home often motivate people to shop for life insurance.

Turning Shoppers into Buyers

• Providing you with Needs Analysis tools and forms. Studies show that a needs analysis helps customers understand how life insurance can work for them and their families.
• Seventy-five percent of shoppers who received a needs analysis purchased insurance compared to less than half of those who did not.
• We can work with you and your client by providing needs analysis tools or by providing an associate to partner with you.
• Studies found that shoppers are more likely to buy insurance when the sales person recommends a specific amount of life insurance.
• It is crucial to follow up with prospects. Many non-buyers stated they were still shopping and would have benefited from additional follow-up.