| Topic : How to Sell Insurance during recession? |
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Activity:
185 views;
last activity : 07 06 2010 20:18:09 +0000
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INSURANCE IS RECESSION PROOF
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Try to become the Financial Advisor
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Getting Quality leads
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Sale insurance rather that investment
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Please pour in your ideas behind it......
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Insurance Referrals
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Insurance protection more than ever in this recession
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Life Insurance is not just a investment only. Life Insurance gives social security and saving option through your security. Social security and saving you get tax benifit on your saving also. On a single monthly premium you can get cover & claim on that cover from 50000 to 50 crore or more as per your social & financial status. Life insuance has proved in last 50 years that insurance selling is recessain proof. But if you are taking it as investment only and going for ULIP plans then you have to suffer due to uncertinity of market. Ask a widow, who got claim on husbands insurance for her future and future of her kids. First you have to understand the difference between insurance and insvestment and ULIP Investment. GROWTH OF LIFE INSURANCE POLICIES AND POLICY HOLDER PROVES IT. DR. SANJAY MEHROTRA |
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Dr.Sanjay i completely agree.Insurance industry is somewhat recessaion proof and because of its huge scope this industry will do wonders in the coming years.Because still a huge population is there which is not insured and they have the oppurtunity to tap that market.I also agree that investing in ULIP is risky because of the volatility in the market but as they say "No Pain,No Gain".If you are willing to take high risk then you will also be likely to gain higher returns.What say?
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This is what I am learning & trying to implement, my focus is on solving people's immediate financial problems. I am trying to become the financial advisor for people & helping them to find money & reduce their income taxes.... |
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At the bck drop of the prevailing recession, it is high time to educate people to get their life covered which offers a social protection apart from in built tax saving it offers.A Financial advisor needs to focus on the importance savings in different avenues of investments
At the bck drop of the prevailing recession, it is high time to educate people to get their life covered which offers a social protection apart from in built tax saving it offers.A Financial advisor needs to focus on the importance savings in different avenues of investments
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Getting quality leads will really help the insurance people this time around, and getting leads is not all that difficult. Simply go to Goggle and type in "insurance lead" and in a matter of seconds you have the hundreds of ways to get leads. Many companies online offer cheap leads or quality leads, however not all leads equal a sale. The consumer these days are very smart. Millions of people use the internet before buying anything. Think about it. When was the last time you used the internet just to answer a question you had? Many people do this everyday and after buy a product that is related to their search. These people will run into adds from internet marketers. It is these marketers that can make the difference in these recession times for the insurance as a whole. |
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yes one can get leads in internet, and that too they are providing quality leads, people who really want insurance very soon for that mattter, with this one can easily generate sales, and internet reach is spreading like anything in the country, and this will be a great medium to businesses in future for the insurance companies and sales..
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Insurance agent must perform according to what is required from his profile, Its insurance cover according to clients need along with that agent can offer some long term saving plan. NOT INVESTMENT PLAN as in insurance, Insurance companies dont offer any investment palns. If it vailable its only in single premium mode. |
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Sanjay I don't think that insurance industry is recession proof because we can see that from the decline in the sales of insurance produts from the past 1 year. infact people don't want to spend unnessarily on these insurance products as they already have 2 or 3 policies in advance. moreover if the insurance agents are selling the policies as investments then they won't be successful because people are shying away from any risks because of uncertainties in the market.
so sell policies as just the insurance plan rather than investment.
ULIPS should be sold as insurance than investment. It has to be compared only with endownment rather than mutual funds. I strongly oppose the idea of comparing ulips and mutual funds and writing lot and lot about.
I am into insurance sales where i do this, and no client will worry about therir NAVs as I pitch ULIP atleat for 15 to 25 years time frame with 30 times of their first year premium as insurance cover.(based on their age).
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Please pour in your ideas behind it...... Thanks !!! |
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My experience says insurance agents should attract Insurance Referrals. Insurance referrals are going to play a huge role in determining which insurance agents and brokers make it through the recession. I am sure insurance agents have developed a relationship with some of their clients. It will be an easy time obtaining insurance referrals from them. It will be a crime if they have not developed one.... |
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According to me during these times of economic uncertainty there is lot of unemployment, sickness and accident protection more than at any other time. Most of them have mortgages, loans, credit cards, utility bills and everyday expenses that would need to be paid if they were to lose their jobs through a redundancy, become ill or suffer an injury and be unable to work for a while. With household budgets already stretched one will seriously think about an Accident, Sickness and Unemployment protection policy. So recession will be very good for insurers. |
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yes i very much agree that there will be more number of insurance happening in this recession times, as one is not so sure about his job for the time being and if he or she is laid off then insurance amount will come in handy for them, so Insurance will thrive during recession according to me.
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