Definition of Terms: Insurer - the insurance company Premium - monetary compensation -- Insured - person whose life is given protection Policy owner - person who pays for the policy and has a right to it. Beneficiaries - the recipient of the death benefits -- Sum Insured/Sum Assured - amount payable to the beneficiary Premium - amount of money in exchange for protection Policy- written contract of insurance between the insured and company. -- 3 risk covered by Life Insurance: Death Disability Old Age VUL- insurance policy that has both protection (life insurance) and savings (investment) -Fund value reliant on market performance therefore no guarantees. -Premium is used to purchase units in the Variable Life Fund managed by the company. -Also known as Investment-Linked, Unit-Liked and Equity-Linked. -Well-developed investment markets in UK and US PREMIUM: SUM Insured - Protection Fund Value-Investment - purchase units from equity, bond and balance fund. Single Premiu
SALES Truth: Everyone is a salesperson How good are you in sales? Sales Mastery: 5 Reasons Why You Aren't More Successful in Sales. 1. You haven't adapted your sales game to address the 2 sales realities 2. You don't know how to read buyers' emotional map 3. You aren't address in the 7 questions that must be answered in every sale. 4. You're overlooking the most important factors in closing deals. 5. You aren't focusing on the 7 key areas of sales success **7 Key Result Areas of Sales Success: 1. Prospecting Funnel 2. Building Rapport 3. Problem Radar 4. Sales Theater 5. Handling Objections 6. Closing the Sale 7. Repeat Business Did you know? Top earners make 10 times more money than average salespeople. "All sales skills are learnable."