National Protection Sales Manager Bernie Buron wants to help you maximise your protection sales by recommending a holistic approach to offering and selling protection!

Step 1: “Make sure you introduce protection right from the start”

Plant the seeds right from the outset and make your clients aware that not only will you arrange their mortgage and help them buy their dream home, but you’ll also offer them the best possible protection of their lifestyle and their property should anything happen. Let them know it is your job as a responsible adviser to ensure they are given every opportunity to protect themselves should the worst happen.

When asking your clients to gather information such as bank statements and payslips, use the opportunity to inquire about any existing policies they may have, and any sick pay they may receive from their employers. This will spark the conversation you want and get the process of offering them comprehensive cover moving forward.

Step 2: “Make protection-only appointments”

Try and separate the conversations you have with your clients about their needs. This will allow you more time to focus on understanding you client’s protection concerns, what cover they may already have, and what the potential solutions are. An ideal time to have or book these appointments is around the AIP stage. With the mortgage process still in the early stages, the clients will be more receptive to talking about protection in detail, knowing there is a potential mortgage offer coming at some point.

Step 3: “Consider your Fact Find. Make your client’s needs a priority!”

Try and introduce soft conversational questions to get your client thinking about what could or would happen. For example:

“In what circumstances that you could imagine would you lose your home?”

“What financial impacts would mean you are unable to maintain your lifestyle?”

“If anything was to happen to you or your family, what lifestyle would you like to maintain?”

All these questions are designed to get the client thinking about protection. Don’t assume they have considered every situation, as many clients may have misconceptions and a lack of knowledge about the cost, effectiveness and necessity of protection.

Step 4: “Create bespoke protection portfolios”

Simply put: Build trust. No one wants to be sold to, so avoid the hard sell techniques associated with insurance. Instead, empower your clients with the facts, figures and advice thus allowing them to make an informed decision. Talking about protection does not need to only be about selling insurance. Instead, it should be a simple and responsible conversation. Talk to your clients in their language by asking them if they have thought about protecting themselves. They may not have given it much thought, considering that they are in the middle of taking out a mortgage.

Don’t try to be interesting. Instead, be interested in what matters most to them and make sure they understand you are simply being responsible by helping them to keep what they love and treasure. Creating bespoke protection portfolios with menu plans and quotes will show a commitment to caring and responsibility. This can go a long way to proving how seriously you have taken their protection needs.

Step 5: “Think like a dentist! Book follow-up appointments!”

Not every client will take your full recommendation and you may find a majority will only initially take out life cover on their mortgage. But don’t be perturbed by this as it doesn’t need to be the end of the road as far as protection goes. This could be the ideal client and the perfect opportunity to return to the conversation when the client has had time to reflect.

In other words, act like a dentist and look to book in a review meeting. As an example, call it a “protection check-up”, and commit to reviewing their situation in 12, or even 6 months’ time. This will give you the opportunity to discuss their protection portfolio directly with them and highlight gaps in their protection needs and requirements.

Follow these five simple steps and watch your protection sales grow!