Is Dave Ramsey Trying to Whitewash His $150 Million Lawsuit?
If you didn’t read last week’s newsletter and wan to, click on the following link: https://advisorshare.com/dave-ramsey-whitewash
Nationwide Launches Online Instant Issue Term Life to Compete with Agents
The bad news is that Nationwide launched an “instant issue” (no underwriting) online offering for consumers to buy term life insurance direct (without an insurance agent).
The good news is that the product is awful (very expensive).
The better news is that ANY advisor can offer the same online service where the pricing is much better and where the agent can get paid!
Use the New Online Term Life Engine to Make Automated Sales!
I did a newsletter last year about a NEW online term life engine that ANY advisor can use. You can put this on the FRONT of your website and consumers can go online to:
1) run their own quotes
2) have a policy instantly issued
And you, the licensed insurance agent, get paid! To sign up for info on this super cool online term life sales engine, click on the following:
Let’s compare Nationwide’s term life engine to the new online term life engine agents can use!
For this example, we’ll use a 45-year-old male with the best underwriting class available looking for a 20-year $500,000 term policy.
Nationwide pricing: $82 a month ($984 per year)
New instant issue agent online term life engine: $67 a month ($804 a year)
24-hour underwriting with new agent online term life engine: $49 a month ($588 a year)
Which one will the client like better?
Well, they’ll like the one they have to wait 24 hours for an answer, but if they want instant issue, they will still like what the advisor can offer much more so than Nationwide.
What’s the problem? Nationwide is out there advertising their offering and MOST insurance agents not only don’t know that they can offer a better online term life engine on their websites, many of the ones who do are NOT taking advantage of it.
Do you know what it costs to add the online term engine I’m talking about in this newsletter on your website? It costs NOTHING! That’s right, it costs you absolutely nothing to offer a better (and based on my research, the best) online term engine to your website.
What excuses do I hear from agents who have not added this to their website?
-I don’t want to take the time (a terrible excuse as it takes almost no time at all)
-Term life is a pain in the neck (that’s the whole point of the online app…you do nothing)
-Term life doesn’t pay well (who cares? You are not doing any work to get the policy issued)
It’s a great idea to offer an online term life engine on your website. Doing so can be helpful to clients who need term life (lower costs than paying more for Nationwide, Ethos, and others) and it could lead to discussions with clients about other planning opportunities.
If you can feel my frustration coming out in this newsletter, you’d be correct.
Always marketing and always showing value all the time is my motto…what’s yours?
SUMMER is the perfect time to take on tasks you otherwise wouldn’t do the rest of the year because you are too busy. Sign up for more info on the term life engine and take the little time that is needed to get it added to your website. There is NO downside to adding this to your website. Only expanded services to clients and revenue from sales.