Only sell this type of Life Insurance
Hey guys, good morning. Alberto Riehl here. Just finished my little workout here at our local hotel. Get my breath. So, I want to shoot this video … just finished working out, to talk about something I’ve been getting asked about, about what kind of life insurance should I sell? And it’s funny how things come in bunches, and literally over the last couple of days we’ve had, gosh, probably about 15 agents and advisors asking what life insurance should I sell? Should I be focusing on whole life? Should I focus on universal, IUL? Should I do term? What’s the best? And I think what I’m about to say is, you’ve been in the business for a while, maybe your advisor, a traditional advisor is going to give you a little mini stroke here. Cause you’re going to realize you’ve been doing it wrong for the last 10 or 20 years. Most advisors, most agents have appointments with a bunch of different companies, representing hundreds of products, right?
They have fear of missing out. Anytime, a buddy agent says, “Hey man, you got that new XYZ policy by XYZ insurance company with ABC Living Writer?” And, “Oh no.” You better get it. You’re leaving money on the table. And they get contracted, and never ended up doing anything with it. Right? So you have a bunch of advisors and insurance agents running around with hundreds of products, and at best they are mediocre, at all of them, they’re average, at all of them. And then why is it … so I’m going to get my golf cart here on my way home. Why is it that there’s always the rainmaker guy … try not to hit anything. The rainmaker guy seems like always has the perfect clients, is making 10 times more money than, isn’t as stressed out and do. Right? And that’s the average guy.
So, here’s the product you should focus on. Focus on the product that you believe in. That’s right. In today’s world, you have to be more authentic, more sincere than ever before. [inaudible 00:02:28] There’s so much noise out there. You talk to agents all the time, they say they wanna sell IUL but they have no idea about the benefits of IUL. That’s just what they think a hot thing to sell is. They also think it’s going to sell itself, which it’s not true. Insurance has to be sold, right? So guys, if you believe in whole life, if you’re one of the whole life guys, traditional whole life guys … you traditional, hey, only one with a track history over 100 years, guaranteed paid out dividends, mutual company, so forth. Hey, awesome. Do that. Sell that. Make sure you own that. Make sure you own that for you and your family.
Now, if you’re the type of guy that you’re like, “Oh, IUL is the best. Participate in the market without the downswing and da, da, da.” Okay, great. Do that. Sell that, but again, make sure that’s the one you believe in and make sure that’s the one you have personally bought and spent money on. Maybe you’re a term guy, right? Buy term and invest the difference. Hey, if that’s what you believe in, again, do that. Just make sure that’s what you have for your family because people can sense that when you’re across from them. That’s something that’s very, very important. Now, if you’re an advisor, you’re probably thinking, well, I do a fact finder, my fiduciary duty, da, da, da and it’s all blah, blah, blah, blah. I’m going to find out what’s right for the client based on data, customize a program of … oh, buddy, it’s time to change your tune buddy. 21st century.
I’m going to surprise you right now. I’m going to make your granddaddy insurance advisor roll in his grave. With today’s technology, you can focus on one product. Most people do it backwards. They’re trying to figure out what’s the right fit. They’re selling to an 18-year old college guy and then they’re also selling to a 75-year-old guy that just wants some final expense stuff. So yeah, that’s pretty complicated. You’re thinking about it backwards. What if you could flip it around and if you say … again it doesn’t matter what you believe in, but let’s just go with the whole life guy. You believe that whole life is the best, and you believe that the perfect whole life client is 35 to 55 years old, owns a business that grows two million a year, has five employees, 3.2 kids, a mortgage of half a million dollars, blah, blah, blah, blah, blah. That’s the perfect fit for whole life. Guess what? We can work it backwards. Use Technology to target that guy and only that guy.
So you only work with your perfect market every single day and all you need is one product. Mind-blowing, right? When I sold life insurance, 90% of my business was done with one product. And a lot of people would say, “Well, you’re doing your people a disservice.” No Man, it’s because you have no clue that I sold to the exact same niche, the exact same profile, which was perfect for my one product, and that other 10%, they were still perfect, but we all run into underwriting issues, health declined, stuff like that. So I had to put them somewhere else. So who’s going to win? You have your average guy, being mediocre, at 30 different products with 30 different companies, can’t even learn the software very well. On one company, the application is different, the underwriting is different. Or you have the specialist that knows exactly what your client looks like, your ideal client looks like.
Only targets that client, and is the very best at that product, knows the application backwards and forwards, software. He can run the software with his eyes closed. He knows the underwriting. He has relationships with the underwriting department. It’s like comparing a general practitioner doctor to a cardiologist, right? General Practitioner. Fear of missing out. You’re five years old, you got a sore throat, come on in, we’ll help you out, $150, right? You’re 35 years old, maybe you’re thinking you’re having early menopause, come on in, we’ll help you out, $150. Or that cardiologists that says, “You know what? I’m worth more than that. I’m only gonna work on hearts. That’s it. People that have heart issues. You have a heart issue, come on in, let’s cut you open, $15,000.”
And he’s the very best at what he does. He’s seen as an expert. He’s respected. Whoa, just got home. A little four or five minutes. Nice Ocean today. So guys, think about that. Instead of chasing everybody out there, the 50-year-old, the 18-year-old, the 75-year-old. What if you could flip it around, start with your ideal client. What is your ideal client look like? And then, what’s the product that you believe in that will solve the problem for that ideal client? And then become the very best at that. And that’s it. Then you have an unfair advantage. We’ve done the same thing in our business. We have people approach us all the time. Can you help me sell investments? Can you help me sell real estate? Can you help me get attorneys? Yeah, I could, but I’m not going to. That’s why we’re the best at helping people increase their life insurance. So, hopefully, you guys are having a good day today and we’ll talk to you on the next video.
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