Field-Support Experts Discuss Sales Success

Marketing specialists from two client companies discussed popular advanced marketing concepts at a COSSConference '05 business session titled “Sales Success in Needs-Based and Niche Markets.”

Derek Suter, MCP, a member of the Sales Development Team at Lafayette Life Insurance Company, and Advanced Marketing Consultant Justin Gorelik, CLU, ChFC, FLMI, of AIG American General, also shared their field support experience with COSS’ advanced marketing system. COSS Vice President of Business Development Cathy Belteau hosted the hour-long discussion.

Infinite Banking
To begin, Belteau asked the guests to share successful marketing ideas from their own experiences. Suter discussed the popularity of the infinite banking concept and leveraging a whole life policy’s cash value through policy loans. Gorelik agreed with Suter on the merits of infinite banking, but suggested that a universal life product also works well with the concept, as UL offers flexible interest rates and the possibility of higher cash accumulation.

Favorite Modules
Belteau next directed the discussion to business insurance and how home offices support and train the field force.

Gorelik, who primarily supports producers working on large cases, frequently uses the premium financing module in COSS’ advanced marketing system. The module shows higher-net-worth clients how they can achieve long term financial and estate planning goals without having to liquidate investments or withdraw substantial funds from their businesses.

Suter’s agents regularly use the executive bonus and pension maximization modules, also part of COSS’ advanced marketing system. With executive bonus, agents can address needs for estate liquidity, survivorship income, employee fringe benefits, incentive compensation, cross-purchase buy-sell arrangements, and the accumulation of retirement assets. The pension maximization module illustrates the advantage of combining a life insurance policy with straight-life pension (or annuity) payouts, in lieu of choosing the traditional joint-and-survivor payout option.

Raising Awareness: New Sales Opportunities
Both guests commented on the great earnings potential of successfully working in these niche markets. “COSS’ advanced marketing software gives your agents the tools to make so much money,” Gorelik said. “Home offices need to promote it.”

Audience member Patty Rucinski, a life and annuity marketing specialist at Farm Bureau Life Insurance Company of Michigan, asked panelists how they “get agents out of the $25,000 mindset” so that they focus on these new opportunities.

Suter said it’s important to constantly show the field force new ideas and options with the advanced marketing system. “It makes powerful presentations,” Suter said. “It must be promoted.” He noted that clients are often interested in more than just death benefits, and that supporting and educating agents throughout the sales cycle are also important.

COSS’ advanced marketing system is available on its own or as part of the full COSSEnterprise™ suite of solutions. To learn more about COSS solutions and how they can benefit your agents, contact the sales team at 1.800.776.7087.