Consumers are no longer willing to settle for a product just because a life insurance professional says it's a good choice. Most customers these days aren't necessarily looking for products at all.

"Any customer can have a car painted any color that he wants, so long as it is black."

This famous quote by Henry Ford reveals his strategy for mass producing the Model T and launching the great industrial juggernaut of the early 20^th century. For almost 100 years, this attitude also defined the baseline strategy of most life insurance sales organizations.

A question I receive often is whether doing a needs analysis while working the senior market is really necessary. The short answer is without a doubt absolutely.

Most of us work, as primary life insurance markets, Mortgage Protection and Final Expense focusing on the senior market. This is where most of the lead generating vendors focus their lead acquisition. Why? Because the senior market responds.

The senior market contains people already in retirement, soon to be retired or retiring in the next 10 to 20 years. They have experienced the loss of a close relationship either family or friend. They have experienced the loss of retirement savings due to market volatility.

These are the people that lost thousands of dollars in 2008, saw gains up until 2019 and it’s been a roller-coaster ever since. People are looking for alternatives to keep their retirement savings and if you are not talking about it…you’re leaving money on the table.

We should be asking questions by using a Fact Finder that get people thinking about what would happen if a Long-Term Care event took place and how that affects retirement savings. How an unplanned for unexpected death will affect their savings.

Will they need to move into a senior care apartment, or do they want to age in place? Be ready to tell them the cost of each and how that cost would affect retirement monies.

What would it mean to them if they never out lived their retirement savings? What would it mean if they never lost another dime in retirement savings and could grow their retirement tax-deferred? Do they wish to maintain their current lifestyle into retirement?

Those potential clients nearing retirement are thinking…”do we have enough money to retire?” Does their plan cover the cost of increasing inflation? Have they planned for an unexpected event?

Make no mistake, completing a needs analysis takes more time, but it also sets you apart from the agent that focuses on the one need of Final Expenses or Mortgage Protection. If this where your leads are coming from then yes, you must address this first.

So how does the above statement fit into conducting a needs assessment? At the end of your initial presentation say, “…now that we have this covered let me ask…” Start your analysis questioning.

Be prepared to tell them what social security income they can expect, and the limitations of additional earnings should they start taking social security income before they are fully eligible. Let them know how a permanent life insurance policy or an Annuity can help supplement social security income.

A needs analysis does not need to be long just a few questions will lead to more questions. Your clients will appreciate the concern you have in looking out for their best interest. You are their insurance agent. You’re a cut above the rest.

In the end being a cut above means your policies are less likely to be replaced, it becomes easier to get referrals, and will lead to additional sales down the road.

As the festive season wraps us in its warm embrace, it's a time of joy, reflection, and connection. For you, as independent agents under my mentorship, it's also a crucial period to gear up for the opportunities and challenges of the New Year. I want to share with you insights and strategies to ensure that you're not just stepping into the New Year, but leaping forward with purpose and confidence.

Embracing the Season with Intent

The holidays offer a unique blend of personal joy and professional opportunity. While it's important to immerse yourself in the festivities, connecting with family and recharging your batteries, this period also offers a chance to reflect on your professional journey. Use this time to think about what you've achieved and where you aim to go. Remember, every personal interaction during this season can also enrich your professional network.

Setting the Stage for January 2nd

As we bid farewell to the old year and welcome the new, it's crucial to have a plan in place. January 2nd marks not just a new day, but a new chapter. Here are some steps to ensure you're ready:

1. Reflect and Learn: Look back at the past year. What were your successes? Where did you face challenges? Learning from these experiences is key to growth.
2. Goal Setting: Set clear, achievable goals for yourself. These should be specific, measurable, and aligned with your long-term aspirations.
3. Enhance Your Skills: The quiet days of the holiday season are perfect for self-improvement. Whether it's learning new sales techniques or deepening your understanding of our products, use this time wisely.
4. Strategic Planning: Develop a plan for the first quarter. Who are your target clients? What strategies will you use to reach them? How will you differentiate yourself in the market?
5. Mental Preparedness: Approach the New Year with positivity and determination. Believe in your ability to succeed and maintain a mindset geared towards growth and learning.

The Importance of Life Insurance in Client Conversations

In the New Year, many of your clients will be more open to discussing their financial future. This is a prime opportunity to talk about the importance of life insurance. Your role is to help them understand how life insurance can be a key part of securing their family’s future.

Supporting You Every Step of the Way

As your mentor, I'm here to support you. This includes:

• Regular Check-ins: To discuss your progress, challenges, and successes.
• Resource Sharing: Providing you with the latest information, sales tools, and marketing strategies.
• Skill Development Sessions: Organizing workshops and webinars to hone your skills.

The Art of Building Relationships

Your success lies in the relationships you build. Every client interaction is an opportunity to establish trust and rapport. Always listen to your clients' needs and advise them with their best interest at heart.

Conclusion – Embarking on a Journey Together

As we enjoy the holiday season and gear up for the New Year, remember that you're not alone in this journey. I am here to guide, support, and celebrate your successes with you. Let’s use the holiday season as a launching pad for a prosperous year ahead.

I'm excited to see what you will achieve and how you will grow. Here’s to a festive season filled with happiness and a New Year filled with triumphs. Let's make this upcoming year a remarkable one for each of you, as independent agents of change and success.

Happy Holidays and a successful New Year to you all!

The most important part of Insurance selling is having leads. Regardless of how those are generated, having people to see each and every week is the difference between succeeding or not. The goal of every lead is getting an appointment…period.

The chief mistake I see agents make in appointment setting is over qualifying the lead.