Life Insurance: Don’t Forget To Ask!
May 20, 2016 by Kevin Kimbrough
Having a holistic product and service suite to meet diverse client needs can be an essential key to success for any financial advisor’s practice. However, many practices do not proactively integrate life insurance into their offerings, making it an untapped opportunity for many financial advisors.
According to research conducted by Saybrus Partners, more than half of financial advisors (52 percent) don’t consider their life insurance sales and advice to be “successful” or “very successful.” The survey also discovered a gap between client needs and advisor opportunities. Close to half the advisors said that no more than 10 percent of their clients asked them about life insurance. Here’s what’s interesting: The vast majority of advisors (70 percent) still said that they do provide life insurance to clients “when appropriate.”
Clearly, there is a disconnect between what clients may request and what they may actually need when it comes to life insurance. Financial advisors have a great opportunity to bridge the gap and enhance the service they provide.
Click HERE for some ways financial advisors can incorporate life insurance efficiently into their client service. INN news articles may require subscription to view
