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Your Key to Life Insurance Sales Success: The Right Tool

There are a lot of things in life that you can change.

You can find a new career or even change your name if you’re so inclined.

One thing you can’t change is the generation in which you were born.

Why is this an important issue for you as an insurance producer?

Because the generation your clients and prospects were born into can give you valuable information about them.

Of course, their generation isn’t the only important piece of information that’s necessary – additional factors such as marital status, whether or not they are parents and their financial situation all play a role.

Tools for success

A good life insurance sales tool will do all the hard work for you.

When all you have to do is enter the information you’ve gathered into the online tool, it will advise you as to the best approach, products and services for each individual client or prospect.

Let’s take a look at how a tool like this works to help accelerate your sales.

Generation focus

This tool focuses on four different periods of life.

  • New Beginnings. Life changes happen at every age, so this category doesn’t only refer to young people who are just diving into life on their own, though they are certainly part of this group, as well. Here’s how the three generations who are in the workforce today could face a life change that qualifies as a “new beginning.”
      • Millennials are just entering the workforce, getting married, starting families and establishing themselves.
      • Those in Generation X are now middle-aged and may face shifting family dynamics, like caring for elderly parents, growing children, or divorce.
      • Baby Boomers may seem like the least likely group to experience new beginnings, but the truth is, they are still getting married, buying new homes and some are still having babies.
  • Increasing Responsibility. At this stage in life, changes can happen rapidly. From new babies to caring for aging parents, life-altering shifts may necessitate changes in life insurance needs. Here are some ways increasing responsibility hits each of the three working generations.
    • Millennials may be getting new jobs, getting married and even having babies.
    • Generation Xers could be advancing in their profession, getting bigger homes or sending their children to college.
    • Baby Boomers may be faced with adult children who move back home or changing health situations.
  • Pre-Retirement. There are many scenarios in life in which your best-laid financial plans can come undone. Here’s how pre-retirement can affect any age.
    • Millennials are actually a financially savvy group. As an insurance producer, you may be surprised how open they are to talking about their future retirement needs.
    • The people who make up Generation X are most concerned about being able to keep up their lifestyle when they enter retirement. Your best bet is to give them many options.
    • Baby Boomers tend to work past the age of 65, meaning they may not be as prepared as they should be. Those who are not yet retired will benefit from a plan that provides for their needs within a shorter preparation time.
  • Retirement. A lot of change comes with retirement – especially financial. Here’s what each generation will be thinking about retirement.
    • Some millennials will have amassed large sums of money right away and will think about retiring much earlier than the average age.
    • Generation Xers may also be looking at an early retirement. They need to know what their options are and with the Generation Station tool, you can give them the best advice.
    • Many Baby Boomers already have their eye on the prize and they need some help protecting and possibly supplementing their income for the future.

The right tool makes a difference

Your job is to provide the services and life insurance products that best meet the needs of your clients. Any tools that make that process more precise is a benefit.

This cool sales tool allows you to assess where each of your clients and prospects falls – within not only their generation but their stage of life – to provide the best products for where they are currently, as well as where they’re looking to go in the future.

Have you had success positioning life insurance sales differently to the generations?

Writing a Large Life Insurance Policy

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