Agent vs Internet
The Internet has made possible the commoditization of nearly everything. Virtually any product can be researched and purchased through this medium. Life insurance is no exception. For someone wanting to purchase life insurance, especially term insurance, and knowing how much they want, it is merely a mouse-click away. That is, if the person is extremely healthy and has no significant health history. As they say on the TV commercial, “No agent will call”. If there are health issues, that makes the process less certain.
This computer method works for some people, especially those who just don’t have time to meet with a life insurance professional. But, this approach misses the whole point. People with real-life problems do not simply buy insurance policies. They buy expectations that the policy will meet their objectives. Yes, they can purchase policies through the Internet but they don’t have access to experienced advice and wisdom. Life insurance professionals are experienced and skilled. They give their clients the confidence to identify and make crucial financial decisions that affect them throughout their lifetimes. The primary question many people are asking is this, “Will we be all right?” Unfortunately, they cannot find the answer to this question on the Internet and buying an insurance policy without professional assistance, may not resolve the question. Life insurance professionals do a lot more than sell policies. They also provide their clients with a sense of ongoing continuity. Their service approach makes their clients feel valued. You can’t get that from the Internet!
In one area, however, there is little defense! Most agents simply do not help enough people in a year’s time. The average agent sells 50 to 60 new life insurance policies per year and that statistic has not changed in 50 years or longer. With so many people needing assistance, why so few sales? Life insurance professionals must become more productive. They have many timesaving tools and should have plenty of time to see more people. Is it possible that most have not learned how to prospect more effectively? Let’s stop here and reflect on this. Next week, we will look deeper into this issue, I promise!