Whether they are explaining the benefits of a new product or identifying key solutions to help others leave a legacy, Keith Singer and Shane Hemphill understand how impactful life insurance can be for their clients and their firms’ sales processes.

Both advisors and their offices enjoyed incredible years and shared some key secrets to success. Consider taking a page from their effective life playbooks.

Keith Singer, JD, CFP^®, president of Singer Wealth, has been a steady life insurance producer for years, but this year his numbers skyrocketed and nearly tripled with the use of single premium-type offerings such as United Life’s LegacyAccel and North American’s Rapid Builder.

“No one is making any money when their money is sitting on the sidelines in a CD,” Keith said. “When you look at the risk-reward scale regarding these types of solutions, it is easy to see why they are attractive to clients. There is limited risk of loss and a number of benefits including return of premium, liquidity options, growth opportunities, a death benefit and living benefit features.”

Asked how he broaches this subject with clients and prospects alike, Keith said it is all about being enthusiastic. “When you listen to what the clients want and then you share a possible solution that can offer many of those features and benefits, it is exciting to see their eyes light up and to be able to help them in this way; that is what being an advisor is all about.”

Shane Hemphill, owner and chief strategy officer of TriFound, has found a passion in helping clients make solid financial decisions. This has led to TriFound consistently being one of AE Life’s top 50 leaders.

TriFound incorporates life insurance into their conversations with their clients and prospects throughout their process by asking questions that help them understand clients’ end goals — questions such as, “What is most important to you?” and “What kind of legacy do you want to leave behind?” Once they determine their clients’ goals and address their concerns regarding income needs and asset protection, they can better determine the excess or residual left for the estate. Depending on the clients’ goals, these funds can be repurposed into a legacy plan.

Keeping it simple is fundamental to Shane. “This conversation is very basic,” he said. “We talk about their goals regarding building a legacy and then we talk about potentially repositioning current funds to help solve this need. When you talk about it in this way, it helps take away the burden of how they are going to pay for this.”

“It’s about consistency and persistence,” Shane added. “We talk to our clients about the process and share that we will be discussing their legacy goals at a point during our planning process. That way, when we bring up legacy planning again in the future, it is not coming out of left field.”

Another successful takeaway Shane shared is to set realistic expectations. “The life insurance process can take time,” he noted. “By communicating that this process can take upwards to six months, we are setting appropriate expectations for the clients ahead of time.”

If you are thinking about adding or enhancing your life insurance sales for 2022, don’t just wish your way to success; set a goal and then create a plan to make it happen.

Resources:

• Interested in learning more about LegacyAccel? Click here for information about this exciting new product.
• Interested in adding Life to your process? Start with referencing the five pillars of life insurance.

 

Results from the use of these concepts are no guarantee of your future success.

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