WEDNESDAY, APRIL 28, 2021
Accident insurance is an often overlooked form of insurance that may be hard to market to certain individuals. When thinking about insurance, clients generally jump to auto, home, life and health. Accident insurance may not even be on their mind. They may not even know that it exists or what it covers, which is where you can step in to educate them.
Relate Accident Insurance to Real Life Injuries
Know your client. Do they often go on vacation? Do they travel for a living? Find out more about them through organic conversation and match it with dangers that could happen. If they are injured while on vacation or fall down a flight of stairs leaving a conference, accident insurance may be able to help with their medical bills.
Market to the Right Crowd
Many people will not consider accident insurance, especially young individuals who are unmarried or have children. Most young people will be looking to save money on insurance rather than paying extra, so you will likely want to set your sights older.
Older individuals and new families may be attracted to accident insurance due to the extra offered protection.
Expand on the Benefits
Comparing and contrasting the benefits of having accident insurance versus not having it can help clients see why they need it. Emphasize how expensive costs are without accident insurance. Emergency treatment, hospital stays and medical exams can all cost thousands of dollars. After an accident and injury, money is just another added stress.
Accident insurance can help lessen that stress by bearing the burden of those expenses.
Tell Them About Complimenting Other Insurance Products
Accident insurance can often be sold as an addition to other policies. In case of afterlife expenses, accident insurance can help a life insurance policy to help with costs, paying beneficiaries a benefit. Accident insurance also works with health insurance to cover expenses not covered by the client’s normal health insurance coverage, as most policies have certain exclusions or limitations.
Be sure to speak with your client about their needs. If they are frugal about money, they may not want to pay an extra premium for accident insurance. If they often travel or participate in risky hobbies, however, accident insurance is a must to cover them and their families. Know your audience and make sure to have information about accident insurance and its coverages at the ready.
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