Life insurance is a wonderful way to help your clients and prospects save for retirement, but people get caught up when they hear the words “life insurance.” Others have shared that their clients tell them “We hear life insurance is so expensive.” If you hear this objection, the next question to ask is “Compared
to what?”

In the brochure, “IRA-to-IUL Conversion Strategy,” Marty Ruby helps consumers understand why they may want to look at repositioning a portion of their IRA money into an IUL policy, including death benefit protection, potential for growth with protection from market loss, the ability to diversify retirement assets and tax advantages.

Another way to help clients and prospects reset their thinking is to share the phone analogy:

Do you remember when telephones used to be mounted on the wall with an attached cord? Compare that image to today’s cellphone. Can you make a phone call with both devices? Of course you can — but today’s phones offer so much more. Cellphones act as keys to our garages and hotel rooms. They are calculators, flashlights and hundreds of other things. Yet both devices are called phones.

The same analogy can be used for life insurance. Perhaps you think of life insurance as stodgy and rigid. We encourage you to open your mind to this unique asset class called life insurance and all the amazing things it can do.

Help your clients understand the powerful asset class of life insurance with THIS consumer guide.

Underwriting Uncovered — Tell the Story Using a Cover Letter

Selling a life policy doesn’t end with the client; it is equally important to sell the client and their situation to the insurance carrier and underwriter. Underwriters are charged with protecting the risk and tend to see things only in black and white, when many clients appear to be in the gray. A good cover letter sets the stage for why your applicant is a risk worth taking and may be the difference between a declined or placed case.

Recently, a 74-year-old female was postponed due to a lack of follow-up for a small cerebral aneurysm. The aneurysm was discovered during an ER visit for a near fainting spell. What made the case interesting was that the fainting spell was caused by her physician trying to find the right balance in her medications. This caused low potassium levels, which disturbed her heart rate.

Once potassium was provided in the ER, the applicant returned to normal, but to be safe, the ER physicians ran a series of tests. One of the tests showed a vertebra arterial aneurysm, which, along with a borderline senior supplement exam, led the carrier to decline the case.

The AE Life team and our in-house underwriter reviewed the file and noticed her primary physician had no concerns and, once the medications were balanced, saw her as an individual who is very active, vibrant and outgoing. Using the power of a cover letter, the AE team highlighted the positive history of the applicant and her primary physician’s thoughts. We were able to reopen the case and got the case placed. Cheers to another underwriting win!

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