Besides the obvious benefit of producing sales business, for advisers who engage in the estate planning market, there are career and business opportunities that aren't always apparent at first. Some important reasons for making the estate planning market part of your business plan include:
- Volume. You have the opportunity to work with financially successful people who almost always need additional life insurance, both to provide estate liquidity and to accomplish other estate planning objectives. The net result is often a larger than average size sale, yielding corresponding commission to you.
- Prestige. You will enjoy the enhanced prestige and professionalism associated with the estate planning market.
- Creativity. Since no two cases are ever the same, you have the challenge of developing plans unique to each client's needs and situation.
- Total Needs. The cross-selling opportunities presented by estate planning are unmatched. The estate planning process naturally ties in with the client's personal, family, and business financial needs. In addition to life insurance sales, this can lead to disability income, annuity, and securities sales [with the appropriate license(s)], as well as business insurance, employee benefit, and retirement income sales opportunities.
- Client Appreciation. Through an estate analysis, you have the opportunity to save clients thousands of dollars in estate settlement costs – an impact that is bound to translate into referrals, as well as additional sales.
- Networking. Working with other members of the estate planning team can lead to referrals and the opportunity to be brought in by them to solve other clients' estate liquidity needs. Networking with attorneys and accountants can be a lucrative source of business for all parties.
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.
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