FAQ Flashcards
What is Term Life Insurance?
Term Life Insurance is insurance that is purchased and in force for a specified period of time. For example, 10 yr, 20yr or 30 yr periods of time - or “Terms”.
What is Whole Life insurance?
Whole Life Insurance is insurance that is purchased in in force for the duration of one’s life assuming that all premiums are paid and the policy is in good standing.
What is Guaranteed Issue Whole Life?
Guaranteed Issue Whole Life (GIWL) is a permanent policy that cannot be declined as long as the client meets minimum age requirements. Most GIWL policies are graded.
What does a graded policy mean?
A graded policy is one where the applicant must live a minimum period of time before the death benefit can be paid out. Typically 2 years.
What is a death benefit?
The funds that are delivered to the insureds beneficiary upon the death of the insured.
What is Critical Period Coverage?
Coverage specifically designed to supply Mortgage Payments for that critical period of time after a loved (co-borrower or primary income earner) passes away. Typically, Critical Period coverage is 2-3 years worth of Mortgage payments.
What does B.E.S.T stand for?
B.E.S.T. is the acronym for our phone process at SFG and stands for:
B - Be busy
E - Establish the reason you are calling
S - Set appointment
T - Tie it down!
What does R.E.A.L. Stand for?
R.E.A.L. is the acronym for our in home or virtual Sales Process and stands for:
R - Rapport
E - Emotion
A - Assumption
L - Lock if DOWN
Agents need to touch on each to increase success rates in their appointments.
What are the SFG 4 cornerstones?
- Believe in what you are selling
- Work and Council - MACC (Massive Action Constant Correction)
- Commitment to ongoing self-improvement
- Associate with the right people
What are the 5 Rs to remember on an appointment?
1 . Referrals
- Retirement
- Replacement
- Rugrats
- Recruit
