Recently I came across a case of a person who was insured for Rs. 5 lakhs. His annual income was Rs. 25 lakhs. He had no major savings, and most of his income was used to repay old debts. There was no other earning member in a family of 4 dependents. Continue reading after the two boxes below.
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Attention all Managers/SBAs/Development Officers/CLIAs train your agents this week on the subject of this article.
Train your agents for a successful closing this financial year end
Suddenly grief struck the family, the bread earner passed away. The insurance company paid the family Rs. 5 lakhs plus accumulated bonus. The bonus was not too much since the policy was in force for only 4 years.
What about the family? How will they live?
Imagine the plight of the family. Children yet to complete education. No other earner in the family and no savings. Only Rs. 5 lakh from insurance. The family is struggling. There is no one to help them. The children may have to start working to earn money, leaving their education aside.
Don’t make the same mistake
Would you like this to happen to your customers? How much have you insured them for? Is the sum assured that you have sold, an adequate insurance for the family to survive in case of an unfortunate incident to the bread earner? How many customers have you under-insured? Are you making the same mistake that the agent did while insuring the person mentioned above for Rs. 5 lakhs?
Your existing customers are your best prospects
In the past, you have sold policies to people known to you. It is your duty to ensure that all your customers are adequately insured. This year ending make a list of customers whom you have under-insured and go back to them and ensure that they are adequately insured. You will be doing a big favor to them and their families.
Sell life insurance to cover the risk of an early death.
Sell Risks Not Returns
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