Updated August 7, 2024, at 4:02 PM
If you could present an accurate needs analysis in less than a minute, would you sell more life insurance?
I once presented at a Life Office Management Association (LOMA) conference to illustrate how quickly you can get a dynamic look at a client’s life insurance needs using a simple multiple-of-income method.
It can be more accurate than the traditional method that reduces the need by the net worth. Although agents often use a multiple-of-income method, it’s viewed as a crude approach to be used when you don’t have the time to do a full traditional analysis.