Editor’s note: This post was originally published on 2/21/17 and has been updated for accuracy and comprehension.
Ever wondered if you’re missing a key ingredient to successful life insurance sales?
Sometimes, it’s the little things that can put you over the edge – like including as much detail as possible on your cover letters so that the underwriting is smooth sailing.
You do submit a cover letter with your applications, don't you?!
Are you including enough of the right information on your applicant’s cover letters?
This infographic outlines exactly what you should put into the cover letters so you can increase your life insurance sales. NOW.
Keep reading after the infographic for a detailed explanation.
The #1 Way to Increase Life Insurance Sales
They key to successfully increasing life insurance sales can often be summed up with two words: cover letter.
But why is it such an important component of a good outcome?
There are a few reasons:
1. It gives your life insurance application the best chance of moving smoothly through the process.
2. The application is more likely to be approved.
3. You'll get greater revenue.
How to write an effective cover letter
Knowing that you need a cover letter is only half the battle. Knowing HOW to write one that does what it's supposed to is the other piece of the puzzle.
Here's what you need to know.
1. Introduce your client.
Provide a brief bio of your client. Include professional and personal details about the client, including their motivation for seeking a life insurance policy.
2. Describe their health history.
You should not only explain your client's medical history, but also other risk factors their lifestyle may bring, such as travel and hobbies.
3. Give details about their lifestyle.
What is their diet like? Do they exercise? This important information will help move the underwriting process along.
4. Explain how the sale happened.
Your cover letter should explain how the face value of the intended policy was determined, as well as owner and beneficiary designations.