Life Term Assurance (Essay Sample)

Sales call
Name
Course
Institution
Date
Life Term Assurance
Term insurance is a special kind of insurance cover that provides coverage for a certain period of time. In the happening that the insured passes on the beneficiaries receive the benefit.
TD insurance company is in association with the TD bank group that is well known to among the largest Canada’s financial services organisations. Our insurance company is rated as the leading insurance group (Wollner 2009).
In TD insurance company we focus on the delivery of two broad domains, that is General insurance, this field includes home and auto insurance, in addition to life and health insurance. Under the classification of insurances, the establishment guarantees customers to adequate and affordable protection for their households and property (Wollner 2009). TD insurance company also provides reasonable life and health insurance with an aim to safeguard the financial welfare of all their esteemed and new customers at any point in their daily activities; this is achieved by helping individuals pay outstanding balances on mortgages and other debts such as car loans (Wollner 2009). The company also has an establishment where it provides income for the family and their children’s education; funds are also set up for any unexpected future events like the child, change of employment.
TD Insurance Company is devoted to making sure a high quality of life of Canadians across the country. The company, therefore, provides comprehensive advice on insurance options to help people make well-informed decisions that are tailored to fit their unique lifestyles (Wollner 2009).
Objective of the sales call could include the following;
* Ensure a high quality of life of the client
* Ensure smooth transition of Elizabeth from the divorce
* Establish and create a client portfolio for Elizabeth for life assurance (Wollner 2009).
Possible questions likely to arise in the sales call.
1. Briefly outline your reasons for seeking financial planning advice
2.Are there any other issues we need to take into consideration that may affect you achieving your goals? e.g. health, job security, ageing parents
3.What are your expectations of our services?
4. What is your annual living expense requirement this does not include any loan repayments?
5. Do you presume any variations in your spending requirements over the next one year? If yes, by how much?
A major motivator to Elizabeth is the assurance of a smooth transition after the recent divorce from her husband. The ability to convince Elizabeth that the TD company will be able to cover the Life assurance policy at a more efficient and pocket friendly manner will act as a major motivator to Elizabeth.
Features of the cover
Term assurance has a number of features, they include; simplicity, under this cover an individual (Elizabeth) is protected against death for a given period. The policy has a decreasing term that means that the premiums payable will remain constant over the period (Wollner 2009). Term life assurance is generally cheap as compared to other covers thus will be more useful to Elizabeth to ensure a painless transition from her recent divorce.
Final/feature Benefit and reward (FBR) provides the amount of compensation to the insured on the maturity of the insured or the occurrence of death where the beneficiaries receive the accruing benefits.
FBR and Trial Close
Feature and Question

Response

The coverage is ordinarily very nominal. It looks like you really like this, is it true?


FBR is receivable on maturity of the insured period or death of the insured. Do you think this cover is essential to you and you son?


The FBR is aimed at providing funds to take care of those essential expenses related with the premature death of an individual. You think the cover will help you have a smooth transition?


The claims payable is regularly at a few dollars monthly. Do you think this rider is economically and financially friendly to you?


Life term assurance in an essential cover which provides covers at a fixed rate of premiums payable at the end of each month. The cover is a pure death benefit and its purpose is to cover all financial responsibility of the beneficially, that is Sabastian (Wollner 2009). At TD Company we seek to provide the client with full benefit of the cover to her son Sabastian for any debts, university education, funeral cost and any mortgage payments payable on the passing of Elizabeth.
For better understanding of the cover, the use of leaflets indicating the model of premium payment and the accrued benefit to the client on maturity of the policy would bring about an easy understanding of the policy cover (Wollner 2009).
Alternatively the use of bill boards acknowledging past payments of claims made by the company would earn the trust of the client and thus the success of the sales call. The also use video footage from the persons that have benefited from the cover in the past would help to effectively understand what Sabastian is deemed to receive...