Why and How to Conduct Annual Client Reviews To Make More Insurance Sales and Get Referrals!

Why And How to Conduct Annual Client Reviews For Insurance!

You Can Make A DifferenceDear Fellow Advisors: Are you struggling to find and set appointments, to make insurance sales? Annual insurance and financial reviews with clients are one of the best ways for you to solve that problem! While you will get referrals for long-term insurance sales success! (Don’t have current clients… work your warm market or call your Companies, Carriers, IMO, and FMO and ask for a list of orphan policyholders!)

A while ago, in one of our coaching sessions, we had an advisor who wanted to know how they could get more insurance referrals. He told us that he had over 400 people that they had sold. All of his clients love him. But they do not refer him to their friends and family. He wanted to know what he could do to get those people to give him insurance referrals. The answer I gave him is… You need to offer regular annual reviews with your insurance clients… “So that you earn the right to get insurance referrals.” “You will also make more insurance sales.”

Annual Reviews The Fortune That Is Hidden With Your Current Insurance Clients!

The annual client review is one of the best ways for you to increase your sales appointments and make more insurance and financial sales… RIGHT NOW! While you also get lots of insurance referrals. And yet, most insurance agents and advisors downplay the importance of a client annual review! Which is a big mistake any time… but especially today!  

The main purpose of the annual client review is to find out if your clients have any unmet insurance and financial needs and want! Your goal is to help them identify anything that has changed. And then help them to uncover their concerns for the future!

There are 8 steps to an effective annual client review that will lead your client to trust you and set an insurance sales appointment with you. So you will make more insurance sales and get lots of referrals… RIGHT NOW!

1. Booking the Annual Client Review…

The key to booking an annual review with insurance clients is to make it necessary. The client’s insurance and financial annual reviews are NOT optional. Your assistant should say something like… “Hi ______ I’m Sara from Joe Smith’s office, He asked me to contact you and schedule you to come in for your annual financial checkup. There were a few things he wanted to double-check and a few things he wanted to discuss with you. Are mornings or afternoons better for you?”

Having an assistant make the call is the key! Make them accountable to keep the client’s annual review program moving and to book your insurance sales appointments.

Do NOT try to book your appointments! Because your insurance clients will ask you questions to decide if their annual review is really necessary.

2. Warm Them Up…

When you meet with them you must ‘rekindle’ the relationship.  So you do NOT want to just jump into the process. Take the time to catch up with your client. Find out what has happened in their lives over the last 6 months, or however long it has been since you have seen them.

If the client asks questions about you, answer questions quickly and turn the conversation back to them. Get them to talk about themselves. Ask questions, and let them talk, while you listen. Find something that you have in common with them.

It is amazing, that when you get people to talk about themselves, they will feel connected to you and ‘like’ you. Because they will feel like you understand them, not because they understand you!

So, do not rush through this step. This step is extremely important if you want to gain their trust. Do not discount or dismiss how important it is in the insurance sales process!

3. Review Your Client’s Situation and Annual Progress…

Now is the time for you to do a full fact-find. Even if you did a full fact-find when you first met with them, review everything they have… all their financial holdings; insurance policies; pensions; 401ks; IRAs; savings accounts; tax returns; etc.

You will also want to review and reaffirm their short-term goals. Ask if anything has changed. In some cases, you will make changes to a client’s investment portfolio. In other cases, you may suggest changes based on certain life events. The birth of a child or grandchild may require a discussion about funding a college plan. A divorce may require changing the beneficiary on retirement accounts and life insurance policies. It will also help you to uncover missed opportunities for other insurance sales.

Then you will want to examine a client’s progress toward their long-term goals. This benefits both you and your clients. Clients get to step back from their busy lives… review their goals annually and confirm their insurance and financial priorities. You have a chance to reconnect with your clients to affirm their positive actions toward their goals. Or you can help them to refocus so they do not get too far off track. Plus you get a chance to enhance the relationship and trust.

4. Educate Your Clients…

Here is where this client’s annual review process turns into more potential insurance and financial business. You should be a student of the economy and market forces. You should also be able to talk about current events in simple terms for your client to understand. This information will help you move them to action for the next client’s insurance and financial annual review.

Educating your client about current economic chaos and market forces builds a natural bridge for your conversation about the need for “safe money”. When they agree with the need for “safe money strategies” based on the current market… Then you will have an opportunity to show them the insurance and financial sales vehicles that will fit their situation and meet their goals.

In addition, you will want to review with your clients anything new to either confirm or provide a basis to alter your client’s short-term or long-term strategies. For instance, new research shows the escalating costs of nursing homes or health care in retirement would not change the goal of “secure long-term retirement,” but it would change the strategy to achieve that goal.

Advisors should also address other changes that could adversely or positively affect a client’s financial plan. For example changes in federal estate tax laws; income taxes; social security; and devising possible plans of action.

5. Give Them Free Sound Advice…

If you want to create more trust and respect for yourself and your services, then talk about and advise on things that you don’t make money on. Talk about the need for a Will, Trust, Living Will, Durable Power of Attorney, etc.! Or, why buying a two-year-old car is better than, buying the latest model? Share what you do to save money and why!

6. Planting Seeds for the Future Client Annunual Reviews…

Discuss their long-term goals and the next steps they may want to take to accomplish those goals. Share what you are doing to achieve your long-term goals and why!

7. Get Referrals…</strong>

The number of insurance referrals you will get with annual client reviews when you do it right will astound you. These client referrals will give you a steady stream of great new insurance prospects. So you will never have to spend money on insurance sales leads or marketing ever again.

If you are a seasoned insurance producer looking to turn your business into a thriving 100% referral practice, you must conduct regular annual client reviews!

And if you are new and have only a few clients, then annual client reviews are one of the best ways to quickly grow your insurance and financial sales… While you cut your expenses!

8. Manage Your Client’s Expectations…

In most cases, you and your clients will want to establish a regular appointment to meet and review their situation on an annual basis. In some cases, you will want to meet on a quarterly or semi-annual basis. If you do not see your clients yearly, they are not your clients! They are just customers.

The last part of the annual client review should outline and establish how often the client wants and needs to be seen. “A” clients are usually larger clients with more moving parts to their financial portfolio. With a change in their lives and portfolios, comes the need and opportunity to reposition assets. This is less about your commissions and more about what the client needs. It just so happens that when you do the right thing for the client… You will do the right thing for yourself! It’s funny how that works!

Set a schedule for how often you will meet with them. At the end of the annual client review, they should know when they will meet with you again. Preferably, you should set the appointment before the end of the meeting.

When you manage your client’s expectations… Then you will fill out your appointment book well in advance. While you train your clients be prepared to meet with you. As a result, you will remove many obstacles to the insurance sales process… before they even appear.

Client Annual Review Summary

Regular annual reviews with your clients are one of the main reasons why the top producers we work with today… earn $300,000, $500,000, and more per year selling insurance!

Do you have a problem setting up annual insurance client reviews? It is because they see you as just a salesperson. And is that because you have not built a trusting relationship?

Is a big reason why you do not have a trusting relationship with your clients… is that they never hear from you? If you want to start to build a good trust relationship, then you should be sending people your monthly newsletter. It will make it much easier for you to set an annual review with your insurance clients. It will also make it easier for you to set a sales appointment with your friends, family, neighbors, and referrals! (We can provide you with a printable version, email version, and digital link for only $79.95 per month. So we have done all the work for you… with free personalization.) Senior E-Newsletter SamplePre-Retiree E-Newsletter Sample

You will also want to set up a system to ask for and receive referrals from everyone you know. Our Dynamite Referred Lead System™ is only $95.00 “Immediate Download!”

Is your excuse for not doing an annual review with insurance clients… you don’t have the time? Then you need to make the time? Because it is much easier and more profitable to sell to your existing clients than to always search for new people to sell to!

Melanie Roger“Just wanted to say how grateful I am to have your Found Money Management™ system and for your amazing coaching and support. My husband and I have been searching for the past three years for the right system and training in order to really help families and improve our approach. Your system is what we have been looking for.  Now we are helping families we never would have been able to have the time of day with, prior to your training.

In the short time we have been studying and implementing your system, we have had some good success and it has been helping us get our business back on track. Your heartfelt letter is awesome by the way!!  We are looking forward to the coming year as we begin to implement your workshops. So excited for where our business is headed and definitely will be bringing our team to your workshops in the following years to come. Your coaching and training are instrumental in the success of our team and business. Can’t thank you enough.” Melanie Roger – Ontario Canada


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First, we will show you what to say and questions to ask so you can set your best insurance sales appointments. Then we will show you how to help families identify and want to solve their problems. We will also show you how you can help families find the money! So that they can take action right now!

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Your client newsletter is a critical insurance marketing program for staying in touch with prospects, friends, family, and clients. It is also a key insurance marketing strategy for more repeat sales, annual reviews, and referrals (exclusive leads) from your current clients. So it is a huge key marketing strategy and program to you being a successful insurance agent!

Remember, ‘Out Of Sight, Out Of Mind’ is a deadly mistake for advisors. Why would your insurance clients, friends, family, neighbors, or prospects call you, or agree to an annual review when they need your help? Or when they are ready to buy. Since they never hear from you, don’t remember you, or don’t know how you are helping middle-income families? And, why would your insurance client give you a referral?


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Important Question… Are you in this insurance business just to make sales? Or are you really interested in helping middle-income families? Who do you think your insurance prospects want to see? Do they want to meet with an insurance salesperson – or a Trusted Advisor who does their best to help them? When will you decide to make a real difference in people’s lives? The more insurance agent marketing and sales training, coaching, sales support, ideas, strategies, and client annual review programs you get to learn how to help middle-income families Then the more you will learn to help yourself and your family! Nothing will change until you decide to take action to make it change!

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Recommended By The Members Of The IARFC - Why and How to Conduct Annual Client Reviews To Make More Insurance Sales and Get Referrals!