Why Health Insurance Agents Are Selling Life Insurance
Sep 25, 2019
Prospects understand the importance of Life Insurance - According to a recent survey, 76% of respondents agreed that life insurance was important. However, 36% of them were not currently covered. This illustrates that there is a large market open to the idea of exploring purchasing coverage who are not currently covered.
Small business employees who need health coverage, also need life coverage - Large group employers have the ability to provide benefit packages that include both life and health in one package. Unfortunately, smaller businesses typically cannot afford the same types of packages. Prospects who work for these smaller companies are in the market for affordable options for both health and life coverage.
Providing affordable options - Similar to the health market, prospects in the life market are mainly driven by price. Life insurance provides many different solutions to cater to a variety of budgets. For prospects looking for low-cost options, term insurance would be a good fit. Higher budgets might be better suited for permanent policies.
Providing education - In the same survey, 37% of respondents said the reason they did not purchase life insurance was because they “haven’t thought about it before.” The best value you can give to prospects is education on products and how they can provide financial benefits.