Ideas to motivate clients

Try these Round the Table ideas to motivate your clients to take action and invest in a more financially secure future.

A simple budget

Younger clients generally don’t think they have enough money available to save for retirement or spend on insurance, as money is generally tighter for a young family. We created a straightforward, traditional budget template that I share during my first meeting to get them to start thinking about what is coming in and going out on a monthly basis. It is surprising to see the number of clients who find out they really have more available cash flow than what their bank account is showing. By including the cost of an insurance premium and a monthly contribution to a retirement plan in the budget, the client will typically never realize they are spending any extra. Though the amount they are budgeting for may be small to start, the people who stick with you and listen to your budgeting advice could have the potential to be your best clients.

—MDRT member Brandon Heckert, AAMS, San Jose, California, USA

Prioritizing payments

During the pandemic, a lot of clients were facing difficulties in making renewal premium payments due to income freezes and/or an inability to make payments online. Here is where I stepped in, helping them understand the economic situation, plan out their personal finances and prioritize their payments. I also helped them convert their annual premium payments to monthly or quarterly modes due to their money constraints. In extreme cases, I assisted them with stopping premium payments in investment insurance policies temporarily, but made sure they paid for their term plans, which are very important.

—MDRT member Nikhil Shah, LUTCF, AFP, Kolkata, India

Find more ideas in the November/December 2021 Round the Table article “12 ideas to motivate clients and gain referrals,” which is available in 11 languages for MDRT members. You also can read the entire issue online.