AS DECEMBER APPROACHES PREPARATIONS ARE STARTING FOR FESTIVITIES OVER THE HOLIDAY SEASON. IN YOUR BUSINESS, YOU SHOULD ALREADY BE PLANNING HOW 2020 CAN BETTER 2019.
Here’s just a few thoughts, one liners, sales ideas and suggestions to help you with every 2020 protection conversation…
Did you sell protection to every client you could in 2019? Did you cover every mortgage that needed protection? Did you ask the protection question every time? Are you sure that if your client calls to ask if they have life or critical illness cover you can say yes? If not – go back and do it now. A Q1 campaign perhaps?
Research(1) from Aviva shows that for all families with dependent children:
- Only 46% have life cover
- Just 18% have critical illness cover
- And only 13% have income protection
- Yet 23% insure their phone and 24% their pet!
Do customers really think “it won’t happen to me?” or have you not given them the opportunity to say no?
My phone packed up recently, a total write off. 2 hours later I’d been to the Apple store and got a new one. Easy! People – husbands, wives, mums, dads – are far harder to replace if they die!
When you provide that much needed mortgage to enable your client to buy their dream home, they are probably taking on the biggest financial liability they’ll ever have and it’s your duty to make sure that their debt is fully protected against the unexpected. Before you close the mortgage sale, resolve to ask yourself 3 questions:
- If this client dies tonight will their family be protected sufficiently to avoid having to sell their new family home (or worse) to make ends meet?
- If this client is diagnosed with a critical illness will they have peace of mind from knowing they can afford to take time off work and still pay the bills, including the mortgage?
- If this client has an accident or long-term illness that stops them from working will they be able to keep their home and maintain their lifestyle without their income?
If you can’t answer yes to every question you need to revisit the protection your client has in place.
When your client gives you a mortgage budget, remind them of this: “the mortgage is about budgeting to get the home of your dreams; the protection is budgeting to keep the home of your dreams tomorrow!”
Here’s to protecting every client in 2020!
Steve Berry Protection
Source 1. Aviva Protecting Our Families report, March 2017