On the surface, an annuity is nothing more than an insurance product that is typically used as a retirement strategy. These are the perfect choice for investors who are willing to put up a large sum of cash in order to receive a steady stream of income in retirement.
As an insurance agent with a focus on the annuity market, it is essential to know how to best approach the sales cycle.
Generate Targeted, High Quality Leads
Anybody can come up with a few annuity leads here and there. However, to achieve the greatest level of success you must have a plan for generating high quality leads that are ready to buy.
By purchasing leads online, you can save time marketing your products while also focusing your efforts on consumers who are interested in making a purchase.
Contact Current Customers
If you sell annuities there is a good chance that you also offer lines such as life insurance, long term care insurance, and final expense insurance.
In many cases, your best chance at a sale is to call on current customers who may be at the age (nearing or in retirement) where an annuity makes sense.
Knowledge is Power
No two consumers are the same. For this reason, the sales cycle will never play out the same way twice. It is essential to have a solid grasp of the market, including information on why consumers are buying annuities.
Also, make sure you know the pros and cons of each type of annuity. In many cases, you will have to educate the buyer as to which product is best for them.
By following these three steps, you will find yourself in position to sell annuities with great success.