Business life and disability sales can create opportunities for other sales. Here are several simple scenarios:
- An at-death, buy-sell case can lead to buy-out agreements funded with disability insurance, or to a retirement buy-out funded with annuity or equity products. From this, you can pivot to your client's other business and personal insurance needs and wants, including estate protection and group insurance.
- A Salary Continuation Plan, which provides personal income protection, leads naturally to a discussion of Business Overhead Expense Protection, since the BOE plan saves your insured from having to use personal DI benefits to pay business operating costs.
- A general discussion of business insurance planning can lead to a review of your client's retirement planning and other long-term financial objectives. This can generate qualified retirement plan, annuity or equity product sales.
- A discussion of a qualified retirement plan or 401(k) can create opportunities for non-qualified supplemental executive retirement plan sales to the owners and highly compensated employees.
- Reviewing an on-profile client's group insurance can uncover shortfalls and gaps in coverage, creating opportunities for individual life and disability income insurance sales, including key person insurance, salary continuation, group carve-out, and annuity sales from CD owners.
- If you work with a company's group plan, position yourself to do business with the other employees who fit your prospect profile, and their families, either personally or through payroll deduction, on or off the work site.
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