Mortgage protection insurance is not just another sales job.
It’s one of the great insurance jobs.
It guarantees your clients’ children will continue going to the same school and growing up as normal as possible after the death of either of their parents. It’s about keeping a family in their home without ever having to worry about making their mortgage payment. It’s a policy you can feel good about selling, regardless of the premiums, as the coverage provides amazing survivor benefits.
What is mortgage protection insurance?
Mortgage protection life insurance is coverage sold with the purpose of paying off the mortgage balance for the surviving family in the event of death or disability of the primary wage earner. This effectively eliminates the mortgage payment from the surviving families living expenses moving forward.
What is the opportunity for Mortgage Protection?
Mortgage protection sales are sky rocketing in part because new life insurance products include living benefits that protect from disability, and chronic, critical and terminal illnesses.
Consumers are beginning to realize they can buy a new kind of life insurance policy which opens the doors to reviewing and modifying what they currently have. One of the reasons this happens so much is due the insurance company updating their mortality tables which keeps premiums down.
How to Get Started Selling MPI
- Ask yourself if you want to do this alone or join a team.
- Decide if you want to be a captive or independent agent. (Tip…you can work for an agency and still be independent).
- Find a mentor.
- Create your marketing plan.
- Buy leads and start selling.
- Make money
Know Who You are and What You Do
Now that you have a basic understanding of the MPI business, it’s time to get real.
This is the most critical step!
If you’re new to the business, you’ve probably encountered some resistance from prospective clients. Sometimes it’s simply their discomfort with the idea of life insurance. More often, they have had bad experiences with agents trying to sell them something they probably didn’t need.
