3 Ways to Make the Insurance Problem Current
73% of customers with no life insurance coverage recognise they need life insurance but have done nothing about it.
This is an interesting statistic but it’s terrifying at the same time. 3 out of 4 out there know they need more insurance but they do nothing about it. It’s an interesting stat because it doesn’t surprise me. The reality is 75% of people probably know they should be healthier. 75% of people know they should call their mom more often—me included. 75% of people know they should save more money but they do nothing about it. Why is that? Well, the reality is we’re only motivated to solve problems if we perceive those problems are current. If we want to make sure people insure themselves and solve this insurance gap, we need to make the insurance problem current. So here are 3 ideas on how to do that:
1. Talk about their current debts
Get detailed about what debts they currently have, like “what’s your credit card balance?”, “what debt have you got on the card?”, and “what debt have you got on the house?”.
2. Make their lifestyle expenses current
Ask them, “how much of your wages are you spending each month?” to make sure that they understand that expense is a current problem.
3. Talk about their death in current terms
Say ‘if you die yesterday…’ , because if you make the death problem current, it’s much more likely that they’ll take some action.
The bottom line is by making the problems current, taking action will be current and we’ll solve that insurance gap together.