NAILBA Perspectives - October 2016 - 15

differences to their clients so they can understand the value between one product and the next. Help them understand how working with your agency allows them to bring more value to their clients." To help BGAs share this value based approach with producers, Protective Life introduced its easy to use "Sell What Matters" website at the 2015 NAILBA Annual Meeting. The website offers two to seven customizable sales ideas for five different life insurance products. Also provided for each product are email templates and an instructional video for producers. To use these interactive tools, which have been a big hit with BGAs, visit www.sellwhatmatters.com. Prudential "We help our business partners thrive by offering dynamic underwriting, enduring value, and customized life insurance solutions," explained Douglas Winkler, Vice President, Independent Sales, for Prudential Individual Life Insurance. The company has three creative marketing ideas gaining traction today. The first is Asset Protection+, which focuses on making sure clients in their 60s and 70s have enough assets during their lifetime while still enabling them to leave a legacy to their heirs at death. "This program breaks apart the financial lifecycle of the client from an accumulation, a distribution, and a succession standpoint," noted Winkler. "Asset Protection+ is a sales presentation explaining how to reposition legacy assets to provide for your heirs either in an estate tax planning scenario or with added chronic illness protection through a benefit access rider. It assures the things that threaten your legacy." This program has been well received with a significant percentage of policies adding the benefit access rider since it was implemented. BGAs CAN IMPLEMENT Protective Life's marketing approach by focusing on SELLING VALUE. Potential clients in their 40s and 50s are the target market for "Put the Life Back Into Life Insurance." "The Internal Revenue Service made a subtle tax code change a few years ago allowing people to use life insurance to live on," explained Winkler. "Put the Life Back Into Life Insurance is a script to help producers help their clients protect their assets in the event of a chronic illness. It offers living benefits in life insurance. Let's say I purchase life insurance. That policy earns money tax deferred. That money could supplement my retirement, or the money would be available for me to spend if I became ill which would protect my investment portfolio." The script shows producers how to explain the challenge, opportunities, and options offered by life insurance. Prospect to Partner is a program designed to help BGAs expand their markets into non-traditional distribution. "This is not a sales idea or a product," Winkler said. "It's an approach focused on developing an agency's unique value proposition so that it resonates with somebody who's not already in the life insurance business. It helps identify prospects who have the need for life insurance and how they can partner with a BGA. Finding new distribution sources will help BGAs thrive." Currently the average traditional life insurance agent is about 58-years old and few young people are entering the field. To grow, BGAs must adjust their plans for the future by finding other types of people, like property and casualty agents, CPAs, registered investment advisors, bankers, and financial planners, to help them sell life insurance. These professionals have clients who need life insurance but www.nailba.org 15 http://www.sellwhatmatters.com http://www.nailba.org

Table of Contents for the Digital Edition of NAILBA Perspectives - October 2016