Most insurance products will fall into one of two categories: involuntary products and voluntary products. If you drive a car or have a mortgage on your house, you understand involuntary products. If you want to drive your car or secure the mortgage on your house, you are required to purchase insurance to mitigate these risks. These products are involuntary, you are required to purchase them.
Voluntary products, however, are just that. We buy them because we understand the risks involved and make a conscious decision to do so. We are not required to buy them.
Voluntary products are associated with “Human Asset Risks”. These are risks far greater than any risks associated with most involuntary products. If you have an accident with your car, the car can be replaced. But, what if, just, what if, you didn’t come out of the accident alive? No further explanation needed of “Human Asset Risks”.
It’s not that your clients don’t understand their “Human Asset Risks”, it’s human nature to not want to think about these risks. Procrastination comes quite easily. There are many different techniques used to drive home the real necessity of purchasing our voluntary products.
No matter how you present the absolute need to take action, hone your skills to be close these important cases. It can be a matter of life or death. It’s that important!