Oftentimes, clients will select their term coverage level based on their budget, even if they may actually have a need for more coverage. If you have a client who gets approved better than applied for, this is the perfect time to use the Term Life Answers Upsell Program since they can potentially get more coverage and still be within their budget.
Agents who are consistently talking to their client about the upsell offer have found great success. Since we started offering the upsell opportunities earlier this year, we’ve had a 15 percent acceptance rate with the average increase being just over $275,000 per case. If you have not been talking to your clients about their increased coverage offer, we encourage you to start having this conversation.
Here’s how it works:
Once your client’s policy is approved, we will send the policy output package. If the case is eligible for the Upsell Program, we will include an offer letter with the additional face amounts your client is eligible for, along with what the new premium would be.
- If your client accepts the offer, he or she will get more coverage – and you will be compensated for the increased sale.
- If your client declines the offer, the original policy stays active.
Take a look at our Upsell Program Overview Flyer for complete details.
Our Term Upsell Program Gives You New Opportunities