The average producer sells two income protection policies a year. If you implement the following four strategies in your sales routine, you will increase your disability income sales exponentially. #1 Identify your Top 20 clients. Those who are close to retirement age are not good candidates. Choose clients who depend on their current income to maintain their lifestyle or save for retirement, and who you have not discussed income protection. You may have sold other products like life insurance or risk management policies to these clients. When you open the conversation, mention that there is one thing you have not discussed in your planning, income protection. The conversation will flow easily because these are your best clients, and if even two of the 20 purchase a policy, you’ve doubled your sales.
#2 Plan your meetings with your clients to discuss income protection over the next 30 days. Call your DI specialist at Source Brokerage, Inc. Request quotes for each client on the list. Brainstorm selling strategies with your DI specialist at Source Brokeage to prepare for the client meeeting and develop responses to overcome objections.
#3 Look at your appointments scheduled for the next week, and determine which ones you have not discussed income protection with. Send them an email with a short article about income protection and ask them to read it and you’ll discuss it with them when you meet. Refer back to the article to start the conversation in your meeting. For some clients, like business owners, you may want to send articles about Business Overhead Expense, Buy-Sell, or Key Person.
#4 Offer to do joint work with producers not selling DI. Ask them to refer you to their clients who need income protection. By being the DI expert, you can generate DI premium for you and the referring producer. It’s a win-win. Their clients have their income protected, and you both split the commisions. Otherwise, someone else may get the sale…and wrestle all their business away from you.
If producers implement at least two of these strategies, they’ll find that their DI sales will increase rapidly, and their commissions from DI sales will too.