NeedsBased Selling TMK 1432 0410 TMK 1446 0110

Needs-Based Selling TMK 1432 0410 TMK 1446 0110

Whole life vs. Term life Sell Whole Life for permanent needs Sell Term Life for temporary needs TMK 1432 0110

Needs Based Selling 35 -year-old married man with a wife, two kids and a mortgage in Alabama. He has $100 to spend on life insurance. Scenario 1 Agent thinks the customer needs $50, 000 of Whole Life costs $76. 86 With his remaining money, he can purchase $50, 000 Term 20 RC for $30. 37. TMK 1432 0110

Needs Based Selling Scenario 1 If the customer dies in the next 20 years, his family receives $100, 000. $50, 000 Whole Life +$50, 000 Term 20 RC In 20 years, the Whole Life policy will have a cash value of $9, 396 and a reduced paid-up value of $29, 050. TMK 1432 0110

Needs Based Selling Scenario 2 Final Expense need $15, 000 of Whole Life is $24. 32 per month With his remaining money, he can purchase $200, 000 Term 20 RC for $75. 78 TMK 1432 0110

Needs Based Selling Scenario 2 If the customer dies in the next 20 years, his family receives $215, 000. TMK 1432 0110

Needs Based Selling Scenario 1 $100, 000 Death Benefit + $9, 396 Cash Loan Value + $29, 050 Paid up value Scenario 2 Needs Based Selling $215, 000 Death Benefit TMK 1432 0110

Who should I insure first? Insure the highest income earner first Insure the spouse second Insure children third TMK 1432 0110

Play Video Watch for potential selling opportunities TMK 1432 0110