Maturing Term Policies can Equal Huge Profits

Even in times of financial stability, aging clients with maturing term policies have a huge decision to make. Do I convert my term policy to a permanent policy at staggering premium rates? What happens in times like these? How much more difficult is this decision after businesses have been closed for nearly two months? How much more difficult is this decision when investment portfolios have taken 10%, 20% or 30% hits?

What if there were an alternative solution? What if that alternative solution represented huge profits both to your clients and to you, their financial advisor? Fortunately for you we have great news on both accounts! There is an alternative. That alternative is converting your client’s policies into cash. This cash represents huge windfalls for your clients and huge commissions for you.

In times like these, clients may find this alternative cash option to be more beneficial than committing to huge policy premiums. While the idiom “Cash is king” certainly rings true at any time, it rings true louder than ever now. When converting to a permanent policy is right for a client and they have the means to convert, then by all means convert their policies. When a permanent policy is not a good fit or when higher policy premiums are not feasible, the cash option is a perfect solution.

Now is the perfect time to go through your book of business and see whose convertible term policies are at or near maturity. Whether you convert those policies into permanent policies, or you convert them to cash you will be providing a tremendous service to your clients and you will increase your profits at the same time.

At the very least, do not let your client’s term (or permanent) policies lapse. If you do, it will be a disservice to your clients as those policies currently have value. That is, they have value only if you convert them into new policies or to cash prior to their lapse date.

The first step in converting term policies into huge profits is to have them appraised. We will appraise policies for you at no cost to you and no cost to your clients. Give us a call and we will show you how to turn your book of maturing term clients into a goldmine. We can also refer you to experts to guide you when your clients want to convert their term policies into profits, both for you and for them.

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