The Keys to Success: Real Life Stories

by Randi Benash, LifeTrends National Accounts Director

In our August post, I wrote about both the necessity and time-consuming nature of policy reviews, and I presented LifeTrends’ unique time-saving solution, the PRECalcĀ® tool. After writing the article, I had the unique privilege of hearing from a few of our distribution partners who shared how they have used PRECalcĀ® to be more efficient, effective, and even win cases!

Celeste Moya, of C3 Financial Partners, commented on how integral PRECalcĀ® has been to her agency’s Policy Review process. Before they spend any time on a full review, PRECalcĀ® is their very first step. They jump on PRECalcĀ®, enter the preliminary client and underwriting information, and are then ā€” almost immediately ā€” able to decide if it even makes sense to do a full review. Many times, PRECalcĀ® shows that the insured’s inforce policy is already the best fit for the client. Celeste said that this helps build credibility with both advisors and clients. The PRECalcĀ® results show that a policy review isn’t about selling a new policy but rather fulfilling the client’s best interests with either the existing policy or a replacement.

David Duffrin of Northern States Brokerage shared that he values PRECalcĀ® because it gives him the opportunity to quickly show many available options, which consumers appreciate. With LifeTrends, the advisor is given a tool to gather complex information for an unbiased recommendation in only a couple of minutes. He even gave an example of a case he won because of PRECalcĀ®:

A career life insurance agent contacted David’s BGA to try to win the business of an orphan policyholder. The policyholder is a 68-year-old retired doctor with a whole life policy with $118,800 of cash value and $250,000 of death benefit. His investment advisor is suggesting he ā€œrepurposeā€ the cash value as a legacy benefit for his heirs. The doctor has no need of the cash value for retirement income, so he likes the idea of not paying any more premiums while also leveraging the death benefit in the plan. The investment advisor only shows one option (Company A) with a death benefit guarantee to age 121. The doctor asks the servicing career agent if he has anything to look at as an alternative.

So, Nothern States Brokerage runs the PRECalcĀ® report from LifeTrends showing the best GUL guaranteed to age 121, GUL guaranteed to age 100, and a mortality estimated current assumption UL. The results of the report shows three options: Company A as best in class for the guarantee to age 121, Company B for the GUL to age 100 and Company C for the current assumption UL. Based on the PRECalcĀ® report, the doctor can see that if he accepts a guarantee to age 100 versus the guarantee to age 121, he can have an additional $40,000 of death benefit for his family. So the retired doctor goes with the career life insurance agent and Company B to leverage up the death benefit. In the end, the client got exactly what he wanted and the agent won the case because of the superior information from the LifeTrends PRECalcĀ® report.

Click HERE to read the original post. If you are like Celeste and David, and you have a story you wish to share, we would love to hear from you!