Guide to Finance

eg: UK or Brides UK or Classical Art or Buy Music or Spirituality
 
eg: UK or Brides UK or Classical Art or Buy Music or Spirituality
 
Business & Money
Technology
Women
Health
Education
Family
Travel
Cars
Entertainment
SD Editorials
Online Guide and article directory site.
Foodeditorials.com
Over 15,000 recipes & editorials on food.
Lyricadvisor.com
Get 100,000 Lyric & Albums.
  • Business & Money
    • A Guide to Business
    • Guide to Finance
    • Ideas for Marketing
    • Legal Guide
    • Guide to Insurance
    • Lettre De Motivation
    • Guide to the Stock Market
    • Human Resource Career
    • Sales Marketing
    • Forex & Trading
    • Advertising & Marketing
    • Startup Guide
  • Technology
    • Guide to Technology
    • Cell Phones
    • Computer Software
    • IT Hardwares
    • Internet
    • Online Security
    • Cameras
    • Search Engine Optimization
    • Science & Technology
  • Women
    • Guide to Women
    • Relationship Advice
    • Marriage
    • Jewelry
    • Pregnancy
    • Fashion Style
    • Divorce Guide
    • Wedding Guide
    • Dating Guide
    • Natural Beauty
  • Health
    • Guide to Health
    • Guide to Medical
    • Plastic Surgery
    • Weight Loss
    • Sports
    • Body Wellness
    • Cancer Treatment
    • Common Illness
    • Health & Lifestyle
  • Education
    • Military Service
    • Politics and Policy
    • Arts & Humanities
    • Education and Teaching
    • Learn Languages
    • Colleges & Universities
  • Family
    • Quality Home Improvement
    • Hobbies and Interests
    • Family Guide to
    • Pet Guide
    • Loans Guide
    • Credit Cards
    • Gardening Guide
    • Home Security
    • Real Estate
    • Home Decor
    • Gift & Present
  • Travel
    • The Travel Guide
    • Adventure Travel
    • Cruise Ships
    • Beach Holiday
    • Travel Accommodation
    • Holiday Destinations
  • Cars
    • Information on Cars
    • Traffic Violations
    • Auto Insurance
    • Trailers
    • Sport Cars
    • The Bikes
  • Entertainment
    • Entertainment Guide
    • World Music
    • Photo & Video
    • Television & Games

Selling Life Insurance Policies

    View: 
The mis-selling of life insurance policies by a significant number of mortgage lenders has to be addressed by the Government. Action has been taken by the DTI, who have nearly completed their investigation into the tie in of home insurance with mortgages. An announcement barring the practice is expected very shortly.



However the investigation has been criticised by some senior figures in the industry for ignoring the selling of life cover. The criticism centres around the practise of overcharging for life insurance, whilst not offering sufficient choice of products as part of their mortgage packaging. Ray Bolger from John Charcol, the independent financial adviser, says that the DTI's knowledge of mortgages fall short of the standard required to make their investigation credible. The result being that life cover has been overlooked.

Mr Bolger believes that just as some providers have been called to account for tying building and content insurance to a mortgage, so should the sizeable number of lenders who mislead people into thinking that they have to take out life cover with their mortgage. Mr Bolger continues by saying that although lenders may not insist on customers taking out life insurance, they can be persuaded that they have no choice through being economical with the truth.

60 per cent of life insurance is sold by mortgage lenders, although it can be purchased through direct providers or independent advisers.

However a DTI spokesman has said that their investigation continues into a large range of insurance tie-ins. A lender who met Stephen Byers has said that life cover has been looked at in passing, whereas more emphasis has been placed on home insurance.

The problem of customers being forced to buy uncompetitive life cover and home insurance policies is equally important for both products.

The problems are even more acute with payment protection insurance.(PPI) Around half of all consumers who have been persuaded to take out a payment protection insurance (PPI) may have been sold the wrong product. In addition the majority of those who bought one of these controversial policies expect far more than they would actually receive if they could not pay their bills.

A wide-reaching survey has found that around 25% of people believe that they will earn a monthly income from their PPI policy, rather than understanding the policy would only cover their debts.

A further 15% said they believed the policy would cover them if they could no longer meet their repayment obligations for any reason, and 8% said they thought their medical bills would be paid if they fell ill.

Several people thought the policy would continue indefinitely to meet their debt repayments, others thought their policy would cover motor car breakdowns and household bills.

Annual sales of PPI policies are said to generate premiums of around £5.4bn for the finance industry. However a staggering £4bn of this is said to be pure profit. Studies suggest that some banks charge up to 600% more than others for similar.

The Office of Fair Trading is investigating the sale of PPI following complaints from Citizens Advice and the National Consumer Council. It recently highlighted concerns that banks are luring in customers by advertising apparently cheap loans and then hitting them with huge extra costs by selling expensive PPI as part of the deal.

As a result, a loan which may appear to offer good value turns out to be far more expensive.
Selling Life Insurance Policies
There are several exciting and dynamic life insurance selling systems available today that will help you to close large life insurance sales. There's the LEAP, Missed Fortune, Infinite Banking and Circle of Wealth Systems, along with the various ‘College Funding', ‘Equity Management' and ‘Mortgage Early Payoff' sales systems, just to name a few. All of these systems may be fine ways for you to learn how to sell lots of life insurance, once you are in front of a prospect. Regrettably, the vast majority of these systems are primarily just a sales system… and NOT a real marketing, or a lead generation system. Yes, they'll give you one or two ways to generate leads that has worked for the creators of the system, like running ads in the newspaper, sending out post cards, or buying leads. However, the lead generation methods they use do not work for everyone, in every part of the country. And, they tend to be very expensive to implement. And, no matter how good their selling system is, if their lead generation method (s) doesn't put you in front of the ‘Right' high quality prospects everyday, the system is almost worthless.

It's the same with many of the career life insurance companies. They have some of the best life insurance products, and they provide you with good training on how to sell their products. Unfortunately, they do not have a good marketing system that puts you in front of good prospects, everyday. Their idea of marketing is for you to do a ‘Project 100', and try to sell 100 or more of your family, closest friends and other people you know. And then when you are done contacting those people, and you've made a few sales, you are supposed to have a ton of referrals to keep you going. However, it rarely works out that way, for most people.

Now, I agree, there are a few people who will purchase one of these sales systems, or join a career company and will have phenomenal success. But, as we all know, 85 percent of the agents and advisors in this industry are struggling to make a mediocre living. But, it doesn't have to be that way for you!

So, how do you get off to the quickest start selling life insurance and keep it going.

Wouldn't it be nice if there were one, or maybe two marketing strategies (lead generation methods) that will work for everyone, in every area in the country? But, would you agree that everyone's situation is different? Some people have more money behind them for marketing, than others. There are people who are already well known and respected in their community, or are active members in various civic groups. Some people are good speakers, love to talk in front of groups, or have an outgoing personality. There are people who are good on the phone and those that absolutely hate it.

And, there are some parts of the country where newspaper ads or postcards work great. There are some communities that are flooded with seminars or educational workshops, and others that don't have any. Some communities are struggling financially, more than others. In some towns, you can hold educational workshops in libraries, other don't allow them at all.

And, the worst part is that what may work today… May not work tomorrow!

Are you getting the point?

If you want to get off to the quickest start possible selling life insurance and keep it going, then you must have several marketing systems available to you, with all the tips, tools and training you need to make these systems work for you.

And, you'll need one more thing… A Coach!

It's very difficult for most people to determine and choose the best marketing method for their situation. There are too many variables. Too many mistakes you can make. And, what if you waste a lot of your time, and all your money by choosing the wrong method, or doing it wrong?

An experienced coach can help you to analyze your strengths and weaknesses to help you to determine what marketing program will work the best for you, short and long term based on your situation and area. And, they can help you to fine-tune the process to minimize any costly mistakes.

We can all benefit from the outside perspective of someone watching our moves closely, especially if that person has the skills and experience in the activity that's being coached. A coach can provide you with the structure and accountability you need week after week to discover and fine-tune the best marketing methods to guarantee your success.
More Articles from
How To Handle Finances Pg325
Take A Financial Inventory – A Unique Twist
Consolidation Loans For Homeowners: When Multiple Credits Become A Burden
Bank Payments?? Happiness Is??
Is The Time Right For You To Re-Mortgage?
Are You Wealthy Yet?
Déjà Vu, All Over Again (And Again??)
Credit Problems, What You Can Do
Avoid The Trap When You Consolidate Debt, Part III
Does It Happen To You Always?
Tips For Achieving Financial Independence
Remortgage To Restart The Mortgage Cycle On Fresh Terms
Identifying US Coins With Bullish Futures
Grandma??s Mercury Dimes
Get The Finance You Need With Uk Secured Homeowner Loan
3 Steps To Profitable Stock Picking
Where Can You Buy The Dinar Safely?
Personal Loans For Unemployed: If Unemployment Is A Financial Struggle
Insure Your Investment
The Active Trader Reveals Effective Ways To Deal With Losses
Wedding Loans – Marry Your Spouse Not Debts
» More on
How To Handle Finances
  • Related Articles
  • Author
  • Most Popular
•Buying Life Insurance Policies, by Barclay Win
•Selling Life Insurance Policies, by Michael Challiner
About Author
Both Michael Challiner & Lew Nason are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Michael Challiner has sinced written about articles on various topics from Finances, Advertising Guide and Quit Smoking. The Life-insurance-Policies.co.uk are specialist in , offering fantastic deals and truly impressive information surrounding insurance and crit. Michael Challiner's top article generates over 165000 views. to your Favourites.

Lew Nason has sinced written about articles on various topics from Finances, Copywriting and Lead Generation. Claim your free Report "How to Attract & Sell Your Perfect Prospects" at Where you'll learn how to make 6-figures a year in insur. Lew Nason's top article generates over 14800 views. to your Favourites.
Copper And Brass Cleaner
For the same rate of durability and usefulness, titanium is proven to be safer. More and more cooks are switching to titanium cookware because of the obvious advantages
 
A Guide to Business | Guide to Technology | Guide to Women | Guide to Health | Family Guide to | Travel & Vacations | Information on Cars

EditorialToday Guide to Finance has 5 sub sections. Such as Introduction to Accounting, Payroll Information, Loan Guide, Tax Matters and Introduction to Finance. With over 20,000 authors and writers, we are a well known online resource and editorial services site in United Kingdom, Canada & America . Here, we cover all the major topics from self help guide to A Guide to Business, Guide to Finance, Ideas for Marketing, Legal Guide, Lettre De Motivation, Guide to Insurance, Guide to Health, Guide to Medical, Military Service, Guide to Women, Pet Guide, Politics and Policy , Guide to Technology, The Travel Guide, Information on Cars, Entertainment Guide, Family Guide to, Hobbies and Interests, Quality Home Improvement, Arts & Humanities and many more.
About Editorial Today | Contact Us | Terms of Use | Submit an Article | Our Authors | Financial Terminology » A - E » F - L » » S - Z