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Life Insurance 101
We offer nearly all major carriers of life insurance
We recognize that one “one size does not fit all”. We customize the life insurance program to a client’s needs.
Let us do a full policy review and design the custom program for you.
Life Insurance Facts from LIMRA
Who’s at risk?
- Three in ten American households (35 million) are uninsured and half of those state they need more life insurance.
- The “middle market” represents the largest segment of uninsured households, with half admitting they need more life insurance.
- One third of wives own no life insurance at all—despite the fact that 7 in 10 households, and nearly 30 percent of wives earn more than their husbands.
Why aren’t they buying?
- Interestingly, a recent LIMRA study found that consumers overestimate the cost of life insurance by as much as three-fold.
- Thirty-five percent of shoppers who met with a sales rep yet did not buy life insurance said their sales rep failed to follow up with them.
What motivates people to shop for life insurance?
- Forty-one percent of life insurance shoppers said life events: getting married, having or adopting a child, or buying a home, etc.-prompt them to shop for life insurance.
Turning shoppers into Buyers… and how Main Street Planning Group can assist.
- Providing you with Needs Analysis tools and forms. Studies show that a needs analysis helps customers understand how life insurance can work for them and their families. Seventy five percent of shoppers who received a needs analysis purchased insurance, as compared to less than half of those who didn’t have a needs analysis.
- We can work with you and your client by providing needs analysis tools or by providing an associate to partner with you.
- Studies found that shoppers are more likely to buy insurance when the sales person recommends a specific amount of life insurance. They also buy larger policies as a result of a recommendation.
- It is crucial to follow up with prospects. Studies have found that thirty-five percent of non-buyers said they were still shopping and that the sales person should have followed up with them. One-third were still making a decision.
Main Street Planning Group can assist you to close more sales! We can support you with the tools; the team and the products to grow your life insurance business.