Are you looking for a Mortgage Life Insurance product for your clients that is fair, transparent, and easy to apply for? Here's why you should tell them about 20/20 MLI.
Those who have recently signed a mortgage, probably representing their single largest debt, are highly motivated to protect their investment. They are open to learning about the value of Mortgage Life Insurance and hearing how they can easily save money with a better product.
Insurance sales can be challenging, particularly when people are already feeling their budgets are tight. You may see clients reluctant to invest in something that will only pay off as the result of a scenario they would rather not consider.
What if we can offer them security and peace of mind right when they need it, without a cumbersome application process?
20/20 Mortgage Life Insurance:
- Is portable for the duration of the mortgage without renewal
- Offers the client choice and control over beneficiary and use of insurance payment
- Is cheaper than the insurance options offered to the client by the banks and other lenders
20/20 Mortgage Life Insurance was created with the goal to "Leave No Family Unprotected" and the process is quick and easy for you and your clients.
Learn More About 20/20 Mortgage Life Insurance
3 Reasons to Offer Mortgage Life Insurance to Your Clients
You sell insurance because you want to ensure your clients are covered during some of the most challenging moments of their lives. But let’s face it, in order for you to help your clients, they have to be purchasing insurance!
Selling 20/20Mortgage Life Insurance makes meeting your goal easier in the following ways:
1. Applying for 20/20 Mortgage Life Insurance is Quick and Simple.
There is no requirement for medical exams or blood tests. The insurance is gender-neutral, with no discrimination between smokers and non-smokers. This means clients who might not otherwise qualify will be covered.
To be approved:
- No physicals or medical examinations are required
- No bloodwork is needed
- Clients must simply answer 5-6 health questions
Additionally, the application is processed entirely online. It typically takes under 10 minutes to receive approval. No one is left waiting to hear whether or not their insurance is approved. Providing clients with coverage quickly is best for everyone.
2. 20/20 Mortgage Life Insurance is Easy to Sell.
20/20 Mortgage Life Insurance is at least 20% cheaper (for those aged 25-50) than mortgage insurance offered by banks. Clients looking for adequate protection within their household budget will be motivated to buy.
The average insurance broker should be able to convert up to 35% with the proper approach. When you know the “how-to” formula, best practices and tactics, you are situated to confidently approach your clients.
Get More Comprehensive Coverage For Your Clients
With a relationship established during the application process, you now have the opportunity to cross-sell other products including Critical Illness and Disability Insurance.
CRITICAL ILLNESS COVERAGE DISABILITY COVERAGE
3. Mortgage Life Insurance Has a Market
Residential mortgages account for 2/3 of the credit outstanding to householders in Canada today, meaning that Mortgage Life Insurance has a large market of willing clients.
Mortgage Life Insurance sales are based on a major life event that has happened very recently in the lives of your clients. New homeowners are motivated to purchase insurance to protect their purchase and family. MLI provides a portable insurance option that offers them a greater choice of beneficiary and control over how to use an insurance payment in the event of a death.
Get Your Clients Affordable and Convenient Mortgage Life Insurance
20/20 Mortgage Life Insurance offers Canada’s first end to end digital fulfillment platform. Applications are approved in under 10 minutes. Contact us today to learn how we can help you ensure all Canadian homeowners have the protection they deserve. Call our team at 1-844-974-2020 or fill in our online contact form.
