Aries Insurance Agent Services.

 

Aries Insurance Agent Services.

 
 
 

Aries Insurance Agent Services.A thin blue vertical line separating two logos.A division of URL Insurance Group.

 
 
 

Luck Has Nothing to Do With It

Luck Has Nothing to Do With It

Annuity prospects are all over the place! You just have to know what to look for.

Recently we helped a long time Senior Care producer with an annuity opportunity that came his way. Although he knew his core business of Medicare Supplements and Medicare Advantage inside and out he really didn't have much experience in the annuity side of the business.


Over the years he has heard me speak numerous times about the vast opportunities that exist in the marketplace to help people with their financial needs. He has heard me say that the trust you build with clients is far more important than knowing everything there is to know about annuities when it comes to helping them find a safe place to accumulate funds for future use. Rip-off artists like Bernie Madoff have given people the mentality that dealing with a stranger just won't work anymore. They have worked too hard and too long to take a chance with someone they don't know.

Somewhere along the way something clicked with this agent. He presented his annuity opportunity to us and after a few short phone conversations he was ready to make the presentation. Armed with the necessary point of sale pieces we provided, off he went. BINGO! The prospect loved the concept and the $115,000 case was closed. Nice commission for him, too!

A week or two later the same agent was telling me that he had uncovered a few more opportunities for annuity sales. They were even larger than the first one he closed. He quipped "what an amazing run of luck I'm having. All these annuity opportunities coming all at once." I was quick to point out luck has nothing to do with it. The opportunities have always been there – he just didn't know what he was looking for.


I learned about product awareness a few years ago when my wife announced to me that she would love to have a Ford Edge. What was that? I had never seen one. That night we visited our local car dealer and we spent some time getting acquainted with the Edge.

The next day it seemed like every other car on the road was a Ford Edge! Did they just release all these vehicles last night? Of course not. The difference was I was now aware of the Ford Edge. Just like our agent friend, with a little product knowledge, he now knows what to look for as far as potential annuity prospects.

Annuity prospects are all over the place! There are people retiring, people with an old 401K they don't know what to do with, people who are downsizing and selling a home, people who complain about the volatility in the market or low CD rates... The list is endless.

The bottom line is you need to know what tools you have to help prospects and clients with their needs. The more you know the more opportunities you'll find. I'd love to hear your experiences with prospecting and "getting lucky," or subjects you'd like covered in future posts.

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Thursday, 09 May 2024

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