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Increase Life Insurance Sales With a Cover Letter (VIDEO)

How to increase life insurance sales with a cover letter

You can increase life insurance sales in the cover letter by giving the underwriter a full picture of your client. With enough of the right information, your chances of placing the case go up.

Selling your life insurance case to the underwriter could determine how successful you will be.

By sharing a complete picture of your applicant in the form of a cover letter, your chances of getting the good offer you need to place the case will increase dramatically.

Despite what you may have heard, you can increase your life insurance sales with a cover letter because underwriters do read – and pay attention to – cover letters.

Watch the video to see why a cover letter is so important and how to go about writing one on your next life insurance case.

And keep reading after the video to get more information about increasing your life insurance sales with a cover letter.


Increase life insurance sales with a cover letter

Imagine your prospects saying they want to buy life insurance and are only willing to disclose limited amounts of health and financial information to the insurance company. You and I would agree that an underwriter just won't buy that. 

Put yourself in the shoes of an underwriter. Yes, I said, “shoes of an underwriter.” Boring? No! 

No, this is important, so pay attention – underwriters need information to make the best possible offer on a case. Without detailed information, the case is harder to complete and approve. 

So, what can you do to improve the chances of getting the best possible offer on your next life insurance case? 

It's easy: Submit a detailed cover letter with your application. This is your opportunity to sell the case to the underwriter. And, contrary to popular belief, underwriters do read cover letters, and cover letters are not just for the large case. 

Underwriters need a complete medical and financial picture when they review any case, so why not make it easier for them? 

Here are some things to include in your cover letter on your next case. 

  1. First, tell a short story of who your clients are. What do you know about them personally and professionally? What are the goals behind the purchase? 
  2. Second, disclose what you know about their health history and non-medical risks like travel and avocations. 
  3. Third, describe their positive lifestyle attributes, such as diet and exercise. 
  4. And finally, how did the sale develop? How was the face amount determined? And, for example, explain what's behind the owner and the beneficiary designations

You should present your client in the best possible light, proactively telling their story in a detailed cover letter.

What should a life insurance cover letter include?

A life insurance cover letter should include:

  1. A short explanation of your clients, both personally and professionally.
  2. What you know about their health history and non-medical risks.
  3. A description of the client’s positive lifestyle habits, like diet and exercise.
  4. An explanation of how the sale developed.

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