Placing the right insurance for the right price and with the right details can be more difficult than it appears. Not only will learning the typical dangers and how to avoid them assist your clients in getting the coverage they require, but it will also assist you in becoming a better producer.
1.Assigning the beneficiary to your client's estate.
2.Failure to identify at least two "backup" recipients.
3.Failure to review your client's insurance policy at least once every three years.
4.Matching the improper remedy or type of life insurance to the situation.
5.Your client's personal insurance is insufficient to meet their family's financial security aspirations.
6.Your client's minor children or grandchildren will receive the coverage in full.
7.All of your client's life insurance is owned by the same person.
8.You haven't looked into if your client's business or profession can supply insurance in a more efficient manner.
9.Ignoring the fact that term insurance (including group term coverage) expires and/or becomes excessively expensive to maintain.
10.Buying life insurance as if it were a commodity is a bad idea.