Reposition Money Your Prospects Are Already Spending – Basics Of Found Money Management

Reposition Money Your Prospects Are Already Spending – Basics Of Found Money Management

Shedding Light on Repositions Money Your Prospect Are Already Spending – Basics Of  The Found Money Management Strategy

As an insurance agent or financial advisor, you understand the importance of helping your clients manage their money effectively. One often overlooked strategy is finding money that your prospects are already spending and reallocating those funds towards life insurance products.

Let’s explore the basics of found money management and how it can help you improve your sales skills and increase your success in selling life insurance.

Understanding The Found Money Management Strategy

Found money management refers to the process of identifying and redirecting funds that individuals are already spending towards a specific purpose, such as life insurance. It involves a thorough review of a prospect’s current financial situation, including their expenses, savings, and investments, to identify areas where money can be reallocated.

The goal of the found money management strategy is to help clients make smarter money management decisions and optimize their financial resources. By assisting them in finding additional funds, you can demonstrate your value as an advisor and increase the likelihood of closing more sales for life insurance.

Helping Your Prospects Find the Money

The first step in helping your prospects find money is conducting a thorough fact-finding process. This involves gathering detailed information about their current financial situation, including income, expenses, debts, assets, and existing insurance policies. By understanding their financial landscape, you can identify opportunities to reposition funds and free up money that can be allocated towards life insurance.

Here are a few strategies to help your prospects reposition their money:

1. Review Existing Insurance Policies

Review your prospect’s existing insurance policies to determine if there are any opportunities to reduce premiums. Analyze their coverage and compare it to current market rates to ensure they are not overpaying for their policies. Additionally, explore options for bundling policies or adjusting coverage levels to find potential savings.

2. Assess Deductibles

Evaluate your prospect’s deductibles on health, auto, or homeowners insurance. Higher deductibles often result in lower premiums, so consider recommending an increase in deductibles to free up additional funds. Ensure that the increased deductibles are still within your prospect’s financial comfort zone.

3. Evaluate Monthly Expenses

Work with your prospects to evaluate their monthly expenses and identify areas where they can cut costs or make adjustments. This may involve reviewing subscriptions, negotiating better deals on utilities or services, or identifying unnecessary expenses that can be eliminated. By reducing expenses, your prospects can redirect those funds toward life insurance.

4. Analyze Savings and Investments

Assess your prospect’s savings and investment strategies to identify areas that can be optimized. Consider whether reallocating funds from low-performing investments or high-interest debt could result in better financial outcomes. By making strategic adjustments, your clients can leverage their resources more effectively.

5. Educate on Tax Benefits

Highlight the tax benefits of life insurance to your prospects. Explain how certain policies can provide tax-free growth and potential tax-free distributions. By understanding the tax advantages, your clients can see the long-term financial benefits of investing in life insurance.

Building Trust and Adding Value

When helping your prospects find the money, it is essential to approach the conversation with empathy, transparency, and genuine concern for their financial well-being. Your primary goal should be to build trust and establish yourself as a trusted advisor. By providing valuable insights and recommendations, you can position yourself as an essential resource for their financial needs.

Encourage open communication and active listening during the fact-finding process. Show empathy and understanding towards their financial situation, and be prepared to address any concerns or objections they may have. Remember, your role is not just to sell life insurance but to guide and support your clients in achieving their financial goals.


Repositioning money that your prospects are already spending towards life insurance can be a game-changer for insurance agents and financial advisors. By helping your clients find money they didn’t know they had and redirecting those funds towards life insurance products, you can improve your sales skills and increase your success rate.

Remember, the key to successful found money management lies in thoroughly understanding your prospects’ financial situation, providing valuable insights, and building trust. By demonstrating your expertise and providing sound financial advice, you can position yourself as a trusted advisor and help your clients make informed decisions about their financial future.

So, take the first step in repositioning your prospects’ money and unlock the potential for greater financial security through life insurance.

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