Agents face a unique set of challenges when selling life insurance and financial products. Successfully positioning these solutions requires great fact-finding and product knowledge, effectively handling of objections, and the ability to customize a solution that a client both understands and values.

 

With an expansive portfolio of options and solutions, it's no wonder agents often find it difficult to capture the full opportunity within their book of business. Our Farm Bureau members depend on their trusted agents and advisors to prepare them for the best (and worst) of times, and oftentimes enlisting the expertise of a specialist can help us to do just that.

 

In 2017, Idaho Farm Bureau Insurance welcomed Sarah Phillips, our Regional Financial Consultant (RFC) with Farm Bureau Financial Services, to the Farm Bureau family and sales team. Sarah is dedicated to partnering with Idaho Farm Bureau agents to provide our client members with the education, advocacy, and solutions they both need and desire. Sarah has been recognized as a 2019 All American and member of the Million Dollar Round Table in 2019 and 2020. Many agents have also achieved new personal production records since partnering with Sarah, which is a testament to the notable impact our RFC has had on both Idaho families and our agents’ businesses.

 

With that in mind, we will be publishing a monthly feature called "The Trusted Advisor” where various topics such as sales ideas, campaigns, and initiatives, as well as testimonials will be shared. Sarah will also be contributing an “RFC Agent Spotlight” from time to time to celebrate the successes of our peers. Financial Services is a critical piece of our business and it is important that we share best practices and become better together.

 

RFC AGENT SPOTLIGHT: GILBERT TUNING

This month, Sarah would like to highlight and celebrate agent Gilbert Tuning in Meridian. In May, Gilbert and Sarah placed life cases for one of his business clients, earning him over $20,000 LPC. Gilbert was able to maximize his second quarter bonus, picking up that extra $3,000, as well as make great strides towards meeting his All American production goals.

 

“Gilbert was already top-of-mind for this commercial client’s life insurance needs, which is a great testament to his exceptional brand and reputation,” Sarah remarked. “Gilbert does a great job making sure his clients are aware of Farm Bureau’s Financial Services offerings and is masterful at bringing clients to the table for our meetings,” she continued.

 

This case was not the first time Gilbert has worked with our RFC. In fact, Sarah shared that he has been in in her top three in production for 2018, 2019, and 2020 thus far, producing $120K LPC in joint work over that time. Gilbert qualified for his first All American in 2019, and is positioned for continued success into the future.

 

A VOICE FROM THE FIELD

Given Gilbert’s ongoing success and accomplishments, we decided for this month's “The Trusted Advisor” it would be fitting to ask him a few follow- up questions and get his perspective from the field.

 

What do you look for in qualifying a prospect or uncovering a life/annuity/investment need? 

My team and I ask everyone we have an appointment with that is not yet retired, "Are you interested in life insurance or retirement planning?"
We ask everyone who is retired, "How is your retirement going financially? Are you worried you will outlive your money?" My team refers almost all potential clients to me, and I get Sarah involved right away for anything other than a small term policy.

 

How do you introduce the RFC or at what point of the sale do you bring them in?

As stated above, I bring Sarah in right at the beginning most of the time.
I tell the client I have a Financial Consultant I work with and would like them to meet with the two of us. I tell them a little about her background and how she's a member of our sales team, and that she is very knowledgeable regarding life insurance and financial products. I go on to assure them they will meet with both of us, and that I will be involved throughout the whole process.

 

What was the most notable success you’ve had and how was it made better by having your RFC involved?

I think the most notable case has to be the $1,000,000 sale of annuities to one of my commercial clients. Sarah's involvement was crucial to that sale. For all the agents who say they don’t want to share commissions, remember that 100% of zero is still zero.

 

Any advice to other agents that are having trouble setting appointments or bringing in an RFC? If they were looking to change "one critical thing" in their life/annuity discovery process, what would it be?

The "one thing" would be to make Sarah your initial thought, not your afterthought. I never feel intimidated going into any meeting with her. I go with confidence. Confidence is something people sense and like in the professionals they use in their lives.

 

To integrate the RFC into your business, please contact Sarah at: 208-484-8259 (cell), or sarah.phillips@fbfs.com.

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