Aries Insurance Agent Services.


Aries Insurance Agent Services.


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Pinto or Porsche? Sales Tips for ROP Term Life

Pinto or Porsche? Sales Tips for ROP Term Life

Sizzle sells! Boost your sales by offering your clients hot products they may not have considered.

I traded in my old car in October and began the process of researching cars online. I found the car that I wanted and went to the dealership for a test drive. When I got there, do you think my salesman offered the lowest priced car on the lot for me to test drive? Heck no!

I test drove a top-of-the-line model, complete with heated/cooled seats, navigation, smart phone remote start, upgraded leather and all the other bells and whistles. After that I knew I wanted the fully loaded model. I needed the bells and whistles. So why do insurance agents lead with a Pinto when they have a Porsche sitting on the lot?

Offer your clients more than a plain old term life policy. Return of Premium is the fully loaded luxury sedan of the Term Life insurance market! In the early to mid-2000's ROP Term was the hot new rider on the market. Mortgage sales were booming and so were sales with the ROP benefit. Then the mortgage bubble burst, and so did many ROP plans. Now, nearly eight years later, Return of Premium is making a big comeback.

Return of Premium gives your clients more to be excited about – more benefits and more options down the road. Who gets excited about a plain old term life policy? Term is cheap and everybody knows it, it doesn't have any sizzle. Offer your clients more.

What your clients will love about ROP Term:

  • Knowing they get all their money back.
  • Having a Paid-Up Death Benefit option at the end of the term.
  • The conversion privilege with the ability to roll the ROP Benefit as a lump sum at conversion, drastically lowering the conversion premium down-the-road.
  • Not paying money into a policy for 20 years, then being required to drastically increase their premiums for conversion or a new term (another example of why low-cost is not always best).

When presenting your next life insurance solution to a client, provide three options:

  1. Low-cost Term Life Insurance
  2. Return of Premium Term Life Insurance
  3. Permanent Life Insurance
Explain the sizzle of each product, all the benefits and bells and whistles. You'll see more clients gravitate towards ROP Term – and you'll get a 200% to 300% boost in the average Term commission per sale! Test drive an ROP Term quote today, and download our ROP Term Carrier Comparison.

Leave a comment below to start a conversation about boosting your sales, Return of Premium Term Life Insurance, or if there's something you'd like me to talk about in future posts.

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Tuesday, 18 June 2024