84. It's the "IDEA" that sells the product

 

I am re-learning a lot in my comeback as a financial advisor, concepts that I have espoused in the past has been constantly challenged in the light of recent developments in the financial markets

I am thankful for my many rejections as it forced me to re-evaluate what a prospective policy holder will accept as something that would create value for them

I may have the best product available in the market, but if I fail to demonstrate how it can help mitigate a risk or enhance value in my prospect's financial journey, the product will not be bought!

I's like to share 2 ideas that worked for me 

First, considering current market volatility, suggest to the client to stretch the frequency of payment option to as often as they can, I find the monthly premium payment the best as it maximizes the benefit of "cost averaging", the value to the client is getting the best average entry price that could mean as much as 70% more future value (please see my previous post - 78. (VUL) Sell the protection, not the returns)

second, focus on the "guaranteed" aspects of a VUL proposal, it could be the face amount, the attached riders that addresses critical illness or waivers of premiums, that for as long as the premiums are paid on time, these benefits are guaranteed, the value to the client is the "certainty" aspect of a VUL

all the best my friends!