Security Function or Offering Mode: Why Individuals Buy Life Insurance

I'm often asked how exactly to choose what things to promote a future client.Believe it or not, this arises from even the veteran agencies. There areso many companies with therefore many products; you have to engage anassistant just to maintain with the improvements. But who I'm kidding,assistants eliminate from your own commission, right? We'll save yourself thatargument for another issue.So when see your face sitting in front of you, anxious if you're going toforce them to purchase something like the last man, asks you what YOU thinkTHEY need, the essential problem you need to ask the prospect is this,"Well - Are you in safety setting or are you in providing mode?" Whenthey look at you funny and question what you mean, explain.People buy medical for one of two reasons. One - they're lookingfor ways to defend the folks and the things that they love.Hopefully, they love their spouse, their kiddies and anybody else usingthe family income. They love enough to offer money in case ofan unforeseen death.Perhaps their home is loved by them therefore much that they want it reduced andprotected from needing to be offered. Business owners may love their shopso really that they want to protect it from having to be liquidated.They may also want to protect a few of the key people in that business,so if they die, it'll not be disastrous to the company. Thosewealthy folks challenged with the property duty desire to defend theirassets from going to "Uncle Sam." Tackle your probability again - "Youmay maintain Protection Mode."Reason Two - people buy life insurance to OFFER to the items andthe people they enjoy. (See the first reason behind the laundry list oflovers.) But now the youngsters are grown, the house is near to being paidoff, the company debt is very small - the necessity to findfulfillment through GIVING sets in. People might want to leave a heritage totheir church or favorite charity. Perhaps they want to create a TrustFund for their children or grandchildren. You see, we exist in a time of abundance. People have money, but are happier if they can do something for the ones they love.MONEY magazine's questionnaire on money and pleasure discovered that if people makecharitable contributions on a regular basis, they are happier,exude assurance and are more material than those that don't. Theyare in GIVING MODE.As you talk with new prospects and conduct customer evaluations over the nextmonth, use the essential approach to life insurance coverage. You perhaps amazed at what you uncover.Protection Mode or Giving Mode: Why individuals buy life insurance.