There are many reasons why some insurance agents struggle with selling cash value life insurance.
Here are just two of the reasons I've discovered from talking to some of them.
They have fallen prey to the 'buy term and invest the difference' myth!
There is so much negative publicity out there about cash value life insurance that most agents are afraid to even try to sell anything but term insurance. Mainly, it's because they don't know how to overcome prospect confusion about the validity of cash value life insurance. And yet there is a simple solution. The fact is that most good life insurance companies have illustration software that will compare their products, and it clearly shows that cash value life insurance is a much better buy. Do the comparisons for yourself and become a believer.
They don't understand how cash value life insurance really works and how their prospects will truly benefit by owning it.
Most agents who are trying to sell cash value life insurance, don't really understand…
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- The incredible power of tax deferral.
- How cash value life insurance can provide a tax-free income in retirement.
- That because of the disability waiver of premiums and the death benefit, cash value life insurance is the only self-completing college funding and/or supplemental retirement savings plan!
- It's creditor proof.
- It doesn't count as an asset when you apply for college financial aide.
- By over funding a cash value life insurance policy, up to the MEC guidelines, it can become "investment grade life insurance."
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These are just a few of the outstanding benefits that make cash value life insurance a very unique savings vehicle and an exceptional buy!
To truly and earnestly sell a product, including life insurance, it's important to own it yourself. (Photo: iStock)
The most amazing part of all this is that the majority of agents who are trying to sell cash value insurance don't believe in it enough to own it themselves.
