To become a successful LIC Agent, it is not enough to just sell policies but it is equally important to provide the right information and guidance to the customers at the right time. Survey forms are a very effective way to do this. It not only gives you a chance to connect with new people but also establishes you as a Professional and Reliable Insurance Advisor in your area.
In this article of Jeevan Bima Bazaar, we will discuss in detail the second question of the survey form - "Do you want to change the nominee in your LIC policy?" and know how you can help the customer and strengthen your business by asking this question.
Meaning and Importance of Nominee in Survey Form
When you ask a new customer during a survey, “Do you want to change the nominee in your LIC Policy?”, I can tell you from my experience that many of your new customers don’t actually know the meaning of the term nominee and there will be many of your customers who might understand its meaning but are completely unaware of its actual important role.
So as a Life Insurance Agent, it is your responsibility to explain the meaning of nominee to your new customer in a clear manner and to do this, we would suggest you to use a simple example. You can normally tell the customer – “Sir, in a LIC Policy, the nominee is the person who receives the Death Claim Payment after the death of the Policyholder.”
Consider: You are well aware of the life insurance terms. I am sure that many of your customers in the present times might not understand terms like Policyholder, Nominee, NEFT, Beneficiary, Rider, Sum Assured, Surrender, etc. In such a situation, when you tell your new customer that "In LIC policy, nominee is the person who receives the payment of death claim after the death of the policyholder." So did he really understand the information given by you?
So our suggestion would be that first of all you have to explain the meaning of nominee to your customer with the help of a simple example. Let's know how-
Example: Sir, suppose a person named Mohan bought a life insurance policy from LIC and while buying the policy, he made his father the nominee. Now if Mohan ji dies during the policy period, then the death claim in the policy will be received by his father.
Don’t Just Move Ahead After Getting an Answer
Remember, if you simply ask questions and move to the next one after getting a “yes” or “no” from your client, you lose the chance to establish your professional credibility. You must make your client realize that having the correct nominee in their policy is extremely important.
If the policy has an outdated or incorrect nominee, the family could face serious difficulties in the future. That is why using a short story to raise the client’s awareness can be very effective.
Explain the Importance of a Nominee Through a Story
"Sir, last year my friend Mr. Mukesh Chandrawanshi lost his father. His father had taken an LIC policy. After his father’s death, Mukesh submitted all the necessary documents at the LIC branch to claim the death benefit, and LIC approved the claim. Mukesh received a cheque of around 8 lakh rupees by post — but it was made out in his mother’s name.
The problem was that his mother had passed away five years earlier. This meant the cheque was of no use to Mukesh. He went back to the LIC branch, but the branch manager informed him that the cheque could only be reissued in his name if he proved in court that he was the rightful and eligible claimant of the policy.
Today, Mukesh is making endless rounds of the court.
This happened only because when the policy was purchased, his mother was made the nominee. But after her death, the nominee was never updated in the policy. As a result, my friend is now stuck in lengthy legal proceedings.
Even today, many people make such small mistakes, and later, when problems arise, they say: “Buying insurance is easy, but getting the money is difficult.”
The Right Way to Ask a Client
When you share the above story with a client, they begin to realize that something they had been ignoring is, in fact, extremely important. This story not only helps the client understand the significance of having the correct nominee, but it also builds your professional image in their mind.
I can confidently say that after hearing this, your client will listen to all your questions more seriously, because now they understand that you are speaking in their best interest.
Once you have shared this story with the client, you can ask:
"Sir, does your LIC policy have the correct nominee listed, or are you considering making any changes in this regard?"
Client’s Response
When you ask the client the above question, different clients may respond differently. Some might say they do not know who the nominee in their policy is. In such cases, you can request to see their policy bond and help them understand who is currently listed as the nominee.
It is also possible that the client tells you they wish to change the nominee in their policy, or they may say that there is no need to change it. It is very important for you to understand what steps to take in both situations.
If the Nominee Needs to Be Changed
As you know, to change the nominee in a policy, the client must submit the original policy bond to the LIC branch office. Since during surveys you usually meet new and unfamiliar people, we recommend that you do not promise immediate help in changing the nominee.
If you make such a promise, you would have to collect the client’s original policy bond, which is not advisable. Instead, you should provide the client with the nominee change form and explain the exact process they need to follow to update the nominee in their life insurance policy.
Finally, once you have explained the process, you can say that if the client wishes, they may accompany you to the LIC branch office to complete the procedure.
If the Nominee Does Not Need to Be Changed
If the client says there is no need to change the nominee in their life insurance policy, this becomes a golden opportunity to impress the client and build trust.
You can say:
"Sir, through this survey, I am making every possible effort to make people aware of their life insurance policies. I only wish that no client in my area — even if they purchased a policy from another LIC agent — faces any problems with their life insurance policy."
"However, Sir, I cannot reach everyone alone. Therefore, I humbly request you to share this information with all your acquaintances. And if any of them needs my assistance in solving such an issue, please feel free to tell them to contact me without hesitation."
Remember, such words will leave a positive impression on your client and will help you build your professional image quickly. As a result, in the future, that person — along with their acquaintances — may become your clients.
Learn About Question No. 2 of the Survey Form Through the Video
In this article on the Jeevan Bima Bazaar, we have tried to explain Question No. 2 of the LIC survey form in detail. However, if you still have any questions, you can watch the video shared below for more detailed information. If you still have any queries related to this question, please write them in the comment box of the video.
Conclusion
My dear fellow agents, I will say it again: "The LIC survey form is not just a piece of paper — it is a tool that can help you assist the people in your area, establish yourself as a professional agent in your community, and significantly grow your insurance business."
To understand the next question in the LIC survey form and its impact, click the "Next Page" button below.
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