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Get Your Clients Thinking Bigger

If your clients say they need more coverage, sell them more coverage.

By Bill Lichtenstein, CLU

Whenever I sell insurance, I always talk about waiver of premium and double indemnity. Double indemnity has always bothered me. Why should you get paid double if you die accidentally?

So I say to the customer, “If you really need double the insurance, why not take a term rider instead of just the accidental policy? You’ll find the cost is not that much greater.”

For example, if you have $100,000 of whole life and you think you’ll need $200,000 if you die unexpectedly, why not add a term rider for the extra $100,000 for 10 years? The advantage is that in case of death by sickness, the beneficiary gets the double benefit. After five or six years, you can convert the term rider. You can’t convert double indemnity.

Why not sell the $200,000 policy to begin with? Well, that’s the point. Giving the client an alternative to the double indemnity gets him to think “bigger.”

Bill Lichtenstein, CLU, is with New York Life in Deerfield, Ill. He can be contacted at 847-317-8741 or

This sales tip is excerpted from Advisor Today’s Sizzling Sales Ideas. Click here to order your copy today.


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