Editor’s note: This post was originally published on 5/9/17 and has been updated for accuracy and comprehension.
Ten percent of people suffer from a fear of needles, also called trypanophobia. And it’s not just kids who have this condition. Adults do, too.
That means that some of your potential life insurance clients could be dodging you because they’re afraid of the required blood draw that’s part of the medical exam to qualify for a policy.
Have you had a hard time getting a prospect on board with life insurance because of the fear of needles? There’s good news.
Watch the video now to find out about an approach that allows you to write life insurance on someone who doesn’t want to do the paramed exam.
Keep reading below for the full video transcript.
A solution for your needle-phobic prospects
Trypanophobia is the fear of injections.
So, were you that little kid who went kicking and screaming to the doctor's office because they had to get a shot?
Let's face it: Most kids aren't too happy about getting stuck by a needle. I wasn't and neither are some adults. It's a legitimate concern for some people.
It's interesting. A lot of people will actually avoid going to the doctor for medical treatments or avoid applying for life insurance because of the fear of needles.
Maybe you've had a prospect for life insurance who just refused to have their blood drawn because they don't like needles. We get asked all the time if there are any carriers who will write life insurance on someone who doesn't want to do a paramed for that very reason.
Now, the answer is YES.
If you have clients who generally fall into the standard category or better rate class under traditional underwriting guidelines, they may be a good candidate for this fully commissionable product. And the good news is that you can now offer them up to $1 million dollars of coverage for either 10, 15, or 20-year term insurance.
There is no paramed exam, no telephone interview as part of the underwriting process. And to speed things up even more, no medical records are ordered as part of the routine underwriting process.
If your prospect qualifies due to good health, your prospect could be offered one of three excellent underwriting classes, if approved. A decision is made within two days of receipt of the application and the policy could be issued in as little as three to five days.
Of course, there are a few other important details for this program, but if you have a client who doesn't like needles, we have a painless solution for them. Just give us a call!