The COVID-19 pandemic did not reduce the need for good financial advice and insurance products to protect your clients’ assets. In fact, now more than ever your clients and prospects need to hear from you.
Your clients and prospects also feel the pain during times of crisis. Their priorities will shift, often overnight, as they face new and unexpected challenges.
There should be a focus on helping customers and prospects that are facing new uncertainties in their lives, especially those who have been recently furloughed or laid off. Others need to be reassured that their retirement and investments assets are safe.
Listen to and serve your existing prospects. How are they being affected by this health crisis and how can you help them? For example, if you manage their investment accounts, reach out to them to offer assurance that their investments are safe and being carefully managed.
New opportunities will also emerge.
Everyone is aware of the sudden loss of jobs as result of COVID-19. No one saw the pandemic coming or the loss of jobs associated with it. Likewise, disabling illness and injuries can have the same impact.
Do You Have Paycheck Protection?
As you meet with clients in-person or virtually, it may be a good time to ask them if they have paycheck protection. While it will not protect them from a sudden job loss, it will protect their paycheck in the event of an illness or injury that prevents them from working for a period of time. Ask if they have a group plan through work or an individual disability income plan.
If they have a group plan through work, ask them if you can review the plan for them. Explain many plans are capped or their benefits are taxable and they may need an additional layer of individual disability protection to cover a greater percentage of their income.
Ask to review their individual disability income plans, too. Do they have enough coverage? Do they have an option to purchase more without underwriting?
In these times, when it is difficult to meet with clients in-person, our brokers are having a lot of success taking e-applications with their clients.
Call us about how to take E-apps or watch our webinar recording about taking an E-app.
Questions about how to approach clients about DI or how to reach out to new prospects?
Contact Steve Crowe at ext. 222, Ellen Crowe at ext. 223, Brian Hettmansperger at ext. 230, Chris Bussey at ext. 220, or request a quote.