Related Topics:
How life insurance is sold
and in the Tools section:
What does Addcalc illustrate?

There are two general ways in which life insurance is sold; total needs and single needs. Total needs selling involves identifying all the needs a prospect has for insurance and then covering all those needs or prioritizing them. Single needs refers to picking one sales idea (concept), selling the person on it and coming back at some future date to sell another.

Common sense suggests that total needs selling is the way to go. In practice that is not the case. It is time-consuming, considered intrusive, and frequently takes the prospect's attention away from buying another policy to trying to deal with the myriad of issues that a "total needs" analysis tends to raise.

Most life business today is generated through "single need" or "concept selling". The producer selects one of many proven sales concepts that have generated strong interest from prospects or clients in similar positions. The concept is presented through a special presentation created by the producer and accompanied by a product illustration from a life insurance company.
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Related Topics:
How life insurance is sold
and in the Tools section:
What does Addcalc illustrate?