The Good, the Bad, and the Options

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When it comes to helping clients see the difference between what they are doing currently, and what they could be doing differently, it’s a bit like the title to that old Clint Eastwood movie, “The Good, The Bad, and The Ugly”.

One of the best ways to help clients

One of the best ways to help clients move away from investments that are less than ideal for retirement longevity is to use an analytical approach and simply show them the facts and better alternative assets they could be using.  You simply show them what is good about what they are currently doing, what is bad about their current retirement financial structure, and then…show them other options.  Believe it or not, we have seen many advisers ruining a sales presentation by focusing on the ugly aspects of financial retirement too much.  By trying to motivate the potential clients with scary talk about market crashes and gloom and doom, they actually just make the potential clients shut down and decide to do nothing.  That’s why we suggest only using two-thirds of the title to the old western movie.  Focus on the Good aspects of people’s current plan, AND focus equally on the potential problems (the bad) that might develop if certain market conditions were to unfold in the future.  But then, turn the conversation toward what the potential clients’ Hopes, Needs, and Concerns are…and let them show you what they want from their financial plan.  This will give you the road map you need to show them the options available in non-risky asset like index-annuities and life insurance.

And, if none of this works…take a line from another Clint Eastwood movie and ask the potential clients this question:

Do you feel lucky?...Well…do ya?

But…leave out the word “punk” at the end.

Here’s a Quick and Easy Way to Double Your Income

Twelve years ago we were visited by the Regional Vice President from Sun Life.  He shared with us that their number one agent for selling life insurance was also their number one agent for selling index annuities.  We were stunned, so we asked “how does he do it”?

The agent only markets life insurance, and never even mentions annuities to anyone—except his clients who buy life insurance.  At the end of every life policy delivery meeting—as he is finishing up and walking toward the door to make his exit—he stops and says, “Oh, by the way…this is something else I do for my clients”, and he hands them a small tri-fold brochure that explains how index annuities protect assets risk, offer lifetime income, and produce interest growth that often out-performs the stock markets.

That’s it. He doesn’t explain anything…doesn’t open the brochure…he simply hands it to them as he walks out the door.  He then follows up in a couple of days and asks if they have any questions about the brochure, and then guides the conversation toward offering to put together some numbers that are specific to the clients’ own financial situation, and then sets an appointment to meet and show them the illustrations the following week.

At the next meeting, he ONLY shows index annuity illustrations from annuities offered by the company whose life insurance the clients just purchased—because they already trust that company.  This simplifies his job and avoids any chance of overwhelming the clients with having too many options, or having to “sell” the clients on a totally different company.

For every five of these index annuity presentations the agent makes, he sells two or three annuities…without spending a penny on marketing or networking.  Then, as he is walking out the door after delivering the annuity policy…he asks for  referrals, and sells to about 30% of those. 

Give us a call!

~ Greg Skogsberg



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