Elevate Your Value: How Non-Life Insurance Agents Can Offer Life Solutions Without Being Specialists
As a Property & Casualty or Employee Benefits agent, you're a trusted advisor, working hard to protect your clients' business health and workforce well-being. However, you may be overlooking a critical area to offer deeper protection and strengthen client relationships: life insurance. While you may not specialize in this field, you don't need to be an expert to help your clients secure vital life insurance protection for their businesses and families.
Our experienced life insurance specialist, Matthew Rohrer, offers creative insights into how to approach clients about life insurance, what essential life insurance questions insurance agents should ask clients, and how partnering with Accretive provides the life insurance expert support for agents you need to seamlessly expand your offerings.
Why Life Insurance Discussions are Crucial
You might wonder, "Why should I even bring up life insurance?" The answer is simple: client retention.
Beyond retention, cross-selling life insurance allows you to:
- Keep Competition at Bay: Your competitors might already be offering these solutions. Don't risk losing your entire account by not addressing these critical needs.
- Increase Revenue: It creates new revenue opportunities, adding to your bottom line.
- Enhance Your Advisor Role: You become a more holistic resource for your clients' overall risk management and financial well-being.
- Gain Client Insight: The conversations around life insurance can reveal growth plans and associated risks that you can anticipate and address.
How to Approach Clients About Life Insurance: Just Ask!
The biggest hurdle for many non-life agents is the fear of being embarrassed or not knowing all the answers. You don't need to be a life insurance expert; you just need to start the conversation and know who to call next
The most effective approach? Just ask and have a conversation. When a client asks a life insurance question that you can't immediately answer, it becomes a perfect opportunity. Your response can be, "That's a great question, and we have a team of experts we partner with and trust who can provide all the answers." This approach helps agents become valuable connectors to solutions, rather than merely transaction focused.
What Life Insurance Questions Should Non-Life Agents Ask Clients
To uncover client’s needs, especially related to financial security for businesses and protection for families, here are some key questions agents should be asking:
For Your Commercial Clients (Business Owners):
- "If something were to happen to you, what would happen to your business?"
- "Do you have a succession plan in place, and how is it funded?"
- "Do you have a buy/sell agreement with your business partners, and how is it funded?"
- "Would your family be fairly compensated for your share of the business if something were to happen to you?"
- "Is there anyone in your business whose sudden loss would significantly impact operations or revenue?"
For Your Individual & Family Clients:
- "Have you reviewed your life insurance coverage to ensure it aligns with your family’s current needs?"
- "Do you have a plan in place to replace your income and protect your family’s standard of living if something unexpected happens?"
- "How would your family handle taxes and other expenses in the event of your death?"
These life insurance assessment questions are low-hanging fruit that can open the door to important discussions.
Life Insurance for Non-Specialists: The Accretive Partnership
The concern about providing life insurance advice without being a specialist is common. Accretive Life Insurance Solutions removes that barrier, as our creative specialists excel at building tailored solutions for every client's unique needs.
- Customized Solutions: Accretive provides the design, solutions, and market shopping, making you look like a "rock star" whether you want to be deeply involved or prefer them to step in and run with it.
- Dedicated Support: You gain expert life insurance support that acts as an extension of your team. This means you and your clients receive concierge-level, client-centric solutions.
- Overcoming Misconceptions: Many agents believe life insurance is hard to get, the process is long, or clients must answer uncomfortable medical questions. However, today's process is digitized, easier than ever, and these perceived obstacles are no longer real. Accretive manages the complexities, shielding you and your client from these concerns.
- Accountability: With Accretive as your partner, you can expect clear communication and transparency from the onset. Your client’s satisfaction is our measure of success.
Take the First Step: Elevate Your Client Conversations
It's clear: life insurance is not just about a death benefit; it's about business continuity, family security, and long-term financial planning. By addressing these needs, you solidify your role as a truly comprehensive advisor.
When non-life agents partner with Accretive, you don’t just protect their clients—you elevate their practice. Let’s grow together.
All it takes to get started is a conversation. Contact our Life Insurance Solutions creative specialists by filling in the form below.