November 23, 2020

Five Steps to Critical Illness Insurance Sales Success

In the mid 1990s Critical Illness Insurance policy came to the United States. Long an accepted and popular product in European countries along with a newer but popular product within Canada, Critical Illness Insurance has already established a harder time taking basic in the United States. This is actually a bit of surprise since specified disease policies like cancer and heart attack/stroke insurance have already been one of the most popular voluntary benefits for further than 25 years. The purpose of this article would be to help insurance agents enhance their practice by making Critical Illness Insurance a huge part of what they sell.

Step 1 : Determine Your Target Market

Critical Illness Insurance coverage has wide application as an economic planning tool so it is incumbent on the professional insurance agent to identify the target audience. Some potential target viewers may include:

Self-employed individuals

Business owners simply by employee size

The employee advantage market by employee size

Single-parents

Step 2: Identify Prospect Objectives

Once you have identified your target market your next action is to identify what it is that they wish to accomplish. A key tenet of our Objection-Free Selling methodology is to disregard needs and focus on what a possibility wants. So the question is: What do your target prospects want?

1 ) Premium control on Health Insurance : Reducing cost which is distinctly distinctive from a strategy to get control of premiums and minimize future rate increases.

second . Freedom to seek non-network care — The problem is that the coinsurance and deductibles are significantly higher when an out-of-network facility is used by an insured.

3. Income replacement – The sad fact is that According to Association of Medical health insurance Plans 55% of working Us citizens have no income protection and people under age 45 do not have sufficient savings to last more than 3 or more. 5 months.

Step 3: Create a List of Compelling Questions

It is important to recognize that people do not know what they do not know. The prospect is highly unlikely to start a discussion of Critical Illness Insurance because he does not understand why it is important. Creating great questions is useful in sparking a prospect’s interest. A question like: “Mr. Entrepreneur, if you were being treated for cancer and were not able to work, where would the money come from to hire a replacement employee? ” An additional benefit of great questions is that they become the schedule for your marketing.

Step 4: Identify Marketing Tools

There is a world of marketing tools available to be used.
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Your advertising tools may be direct mail, telesales, networking or any other of a broad world of other tools. You start this step by first identifying those equipment that you are comfortable with. The second step can be identifying the tools that your target market is likely to respond to.

Step 5: Create a Program

With your tools chosen it is time to design the actual marketing plan. If you are using immediate mail you may design a program where you send out 100 letters every Tuesday morning and follow-up every Monday. Your marketing plan identifies the various tools, the timing of use and the targets. As in choosing your tools it is imperative that you create a program that is in alignment with who you are. Tend not to over-commit to activity or you is not going to follow through.

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