Impaired Life Insurance: learn to profit from it
Stand out from the crowd: perform the more difficult job and make it look easy.
Many insurance agents shy away from trying to help people with health impairments because it looks like more work. It is more work, but it’s worth it: and not just monetarily. Yes the premiums are larger, but so are the “Thank yous”.
Learn to recognize the impaired case prior to submission to your normal company and you can set the stage for a successful life placement. At this point you can intervene by collecting the information needed to get tentative offers from life underwriters. Collecting this accurate and relevant information efficiently will go along way towards a successful case. SEE HOW HERE
Why is impaired risk life insurance more profitable?
Three main reasons why impaired life cases are more profitable than standard cases.
- Less competition: Because it is more difficult and requires time master the process there will few agents that are willing to do the extra work. However, the extra work is in acquiring the techniques and processes necessary to master the process. Once the process is learned working the individual cases is barely more time consuming than working a standard or preferred case.
- Higher premiums = more compensation. The average premium on preferred and standard cases is around $1000 for most agents. Impaired cases tend to be much higher premiums.
- Better placement ratios. When a client knows they have impairments and it is harder to get life insurance they want it more. For some reason people always want what they are told they can’t have.
Less Competition + Higher Premiums + Better Placements = More Profits