While MetLife's exit was unexpected, it is not a tragedy. Every adviser who has placed a policy through MetLife now has the chance to reconnect with those clients.
MINNEAPOLIS, Minn. (PRWEB) July 28, 2016
Since MetLife announced it is suspending sales of its individual disability insurance (IDI), the income protection market has experienced a whirlwind of reactions; Secura Consultants is no different. However, the team at Secura Consultants is encouraging advisers to see this change not for what it is, but what it could be.
"Insurance carriers have been quick to step up to the plate in light of MetLife's announcement and they're excited to see what this opening in the market will mean for their businesses. However, we're not seeing that same enthusiasm among advisers. Some are still mulling over what this change means and are feeling uncertain in the market. We're actively reminding them that while MetLife's exit was unexpected, it is not a tragedy. Every adviser who has placed a policy through MetLife now has the chance to reconnect with those clients - an opportunity they would not have had nor would they have taken advantage of, if not for MetLife's exit. We're encouraging advisers to be proactive with their outreach efforts to educate MetLife policy holders regarding this change. Engage them in a discussion about the current status of their income, their career, and their plan - is the coverage they have sufficient for supporting their lifestyle? Take a step back and evaluate the situation. Are there other opportunities for planning within their business or financial plan? Has there been a significant life event such as a marriage or baby? These questions lead to opportunities for the advisers," commented Jeff Pantze, Executive Vice President.
Client Experience Manager Ana Helgeson shared, "Most advisers understand the value that stems from actively engaging with their clients and conducting annual reviews, yet so few have a plan in place to do so. Simply asking clients about the changes in their lives helps build a rapport and gives insight to the things they value so advisers can help them plan for the future."
In lieu of MetLife's announcement and imminent cutoff date, Secura Consultants will continue to quote new cases and accept new applications for MetLife IDI products up to and including Monday, August 1, 2016. This does not apply to Guaranteed Increase Options (GIO) or Guaranteed Standard Issue (GSI) business. While MetLife is halting the sales of its IDI products, the change will not impact existing MetLife customers; MetLife will continue to support their in force block of IDI policies, will allow increase options, and will continue to pay commissions.
About Secura Consultants
Based in the Twin Cities of Minneapolis and St. Paul, Secura Consultants is one of the few insurance marketing organizations in the country focused on delivering exemplary solutions in the income and asset protection markets as well as employer sponsored ancillary benefits. Secura Consultants works with select financial service and employee benefit specialists in the design and implementation of these solutions for their clients. Secura Consultants also works in an advisory capacity with insurance carriers, assisting in the development of better product solutions for the marketplace. For more information, contact Lauren Dries, Marketing Consultant, at Lauren(at)securaconsultants(dot)com or call 952-224-5400.