Needs-Based Selling

Why it matters

This approach fits insurance because the right policy depends on the person. A needs analysis may look at income, debts, final expenses, and who depends on the insured. Suitability and best interest rules in many states expect agents to base advice on the client's situation. Families should expect questions about their finances and health. Agents benefit too, since a good fit leads to fewer lapses and chargebacks.

Source: naic.org

Where we use this term

• Your first 90 days as a telesales life insurance agent: a week-by-week ramp