Life insurance is often named by brokers as one of the hardest products to sell, as many employees believe it is too expensive and most don’t want to think about what would happen after they pass away.
Next time you approach a life insurance sale or enrollment meeting, consider a new tactic: Promote coverage benefits that go beyond the monetary payout that loved ones may receive from the policy.
Most HR managers and employees know life insurance protects them and their families from financial hardship after they pass away. But they may not realize that life insurance may come with additional benefits that can help in everyday life, including financial planning and even travel assistance.
Talking about these unique benefits can be a great way to jumpstart a dialogue about life insurance and the additional value the products may have that employees aren’t using.
Family-focused financial support
Some carriers offer group and voluntary life insurance products that come with a suite of services to help individuals and their families make important decisions now and in the future.
These services include financial assistance tools that can help employees with everything from financial planning and identity theft protection, to will preparation and funeral planning. These are important components of a holistic financial plan that many employees don’t think about and, if not properly attended to, could leave loved ones unprepared should something happen.
In addition, many life insurance plans include tools and services to support beneficiaries after an employee’s death. These include grief support and funeral planning services, as well as financial consultations that can help loved ones who inherit life insurance benefits.
Not only that, but carriers may also have some type of assistance to help family members get back on their feet after a loved one’s accidental death, including:
Higher education benefits, which can reimburse higher education expenses of children attending college.
Career adjustment benefits, which include retraining assistance so a surviving spouse can find new career opportunities.
And even child care benefits, which reimburse child care expenses so that a surviving spouse can enter or continue in the workforce.
Helpful travel assistance
There are also some benefits that come with carrier’s life insurance policies that help employees when traveling for work or pleasure. These benefits can help employees with emergency medical transportation or medical assistance services.
One of the most attention-grabbing aspects of this type of coverage is that it can provide emergency transportation services to get someone to a higher level of care, transport them back home and even repatriate remains, if needed. Not only that, it can even help transport a family member or friend to a hospital if the employee were traveling alone. These costly services would be difficult for an employee to afford without travel assistance benefits.
Keeping these extra benefits in mind can help you initiate conversations about life insurance, or even refresh your enrollment presentations. Ask potential customers if they are aware that life insurance can support them in case of an emergency while traveling — or help protect them from identity theft. Those topics can pique interest and lead to more in-depth discussions that lead to increased sales.