How would you respond to a prospect who says...
"I already have life insurance through my employer. Why should I buy more?"
That's great that your employer offers life insurance as a benefit to the employees. But in most instances, this is term life insurance, which you are not allowed to continue when you retire or leave employment with your present company. I always recommend that you own some personal life insurance outside of what is offered by your employer. Why don't you let me work up a quote for you to show you how affordable this is?
- Kay Rhett, Cleveland, MS
That's wonderful, Mr./Mrs. Prospect, and I encourage everyone to take advantage of the group term life insurance at their place of employment; it's a wonderful supplement for your family. However, it's important to carry an individual policy for each member of the family for a couple of reasons. One, your group term at work is not portable, meaning if your job is terminated by either you or your employer you've just lost whatever coverage you have in force. That creates a few problems for you down the road with premiums being higher the older you get; some have found that when they try to purchase a policy at a later age, the premium is more than they can afford. ... By having a policy separate from your place of employment while you're insurable today, you've protected your family regardless of where you work. Your group term at work is really intended to be nothing more than a supplement to life insurance."
- Brenda Watson, Tulsa, OK
If you leave your employer, your coverage generally doesn't go with you. This is your own personal policy. Are you open to taking a look at a life insurance policy customized to your family's needs?
- Gary Rockwell, El Cajon, CA
Next month's objection:
"Our company can no longer afford to offer these benefits to our employees."
How do you overcome this objection? Email the editor at ASJeditor@AgentMediaCorp.com. Please include your first and last name, city, and state, and put the word "Objection" in the subject line. Your response may be printed in an upcoming edition.
