This week in his Hidden Value column for ThinkAdvisor, Joe Elsasser, CFP®, talks about the benefits of clearly explaining two concepts in permanent life insurance policy design — funding level and growth potential. These two basic levers are easy for clients to understand and can readily help advisors explain why one policy type or structure would be a better fit for a client’s goals than another structure.
"Though you know more about the bells and whistles than a consumer who will buy life insurance a few times in their life, it’s not the bells and whistles they are interested in. They’re interested in how your recommendation will meet their needs. Using funding level and growth potential as anchor points for why the specific policy you recommend meets their needs better than other policies gives them the ability to be a much better armchair quarterback and gives them confidence in you."
Access industry news, expert insights, best practices, free downloads and more.
© 2010 – 2021 Covisum®. All Rights Reserved. Covisum is not connected with, affiliated with or endorsed by the United States government or the Social Security Administration. The local advisor offering Covisum products may be an insurance agent, financial advisor, accountant or attorney. Advisors may offer other products or services and are compensated by commissions and/or fees for any other services they may provide.