I am often asked how to decide on what to sell a prospective client. Believe it or not, this comes from even the veteran agents. There are so many companies with so many products; you have to hire an assistant just to keep up with the changes. But who I am kidding, assistants take away from your commission, right? Well save that argument for another issue.

So when that person sitting in front of you, worried if you are going to force them to buy something like the last guy, asks you what YOU think THEY need, the basic question you need to ask the prospect is this, Well - Are you in protection mode or are you in giving mode? When they look at you funny and ask what you mean, explain.

People buy life insurance for one of two reasons. One - they are looking for a way to protect the people and the things that they love. Hopefully, they love their spouse, their children and anyone else using the household income. They love enough to provide money in case of an untimely death.

Perhaps they love their home so much that they want it paid off and protected from having to be sold. Business owners may love their shop so dearly that they want to protect it from having to be liquidated. They may also want to protect some of the key people in that business, so if they die, it wont be disastrous to the company. Those wealthy folks challenged with the estate tax want to protect their assets from going to Uncle Sam. Address your prospect again You may be in Protection Mode.

Reason Two people buy life insurance to GIVE to the things and the people that they love. (See the first reason for the laundry list of lovers.) But now the kids are grown, the house is close to being paid off, the business debt is very little the need to find fulfillment through GIVING sets in. People may want to leave a legacy to their church or favorite charity. Perhaps they want to set up a Trust Fund for their children or grandchildren. You see, we exist in a time of abundance. People have money, but are happier if they can do something for the ones they love.

MONEY magazines survey on money and happiness found that if people make charitable contributions on a regular basis, they are happier, exude confidence and are more content than those that do not. They are in GIVING MODE.

As you meet with new prospects and conduct client reviews over the next month, try using the basic approach to life insurance coverage. You may be surprised at what you uncover.

Protection Mode or Giving Mode: Why people buy life insurance.

Jay Stubbs

Jay's Mission: To provide sound, excellent advice to dedicated financial service professionals in order to help them grow their business.

Jay Stubbs is a Mobile, AL native, where he graduated with honors from Saint Paul?s School in 1995 and went on to attend Birmingham-Southern College in Birmingham, AL. He graduated Cum Laude in December of 1998 while maintaining an internship with Protective Life Insurance Company based in Birmingham. In 1999, Jay received the Alabama Finance Student of the Year Award given to five students in the state. After extensive training, Jay moved back to Mobile in 2001 and serves as the Regional Sales Director for First Protective (a subsidiary of Protective Life.) He has been fortunate to work with quality financial service professionals that have helped grow the Gulf Coast production by over 400% in life premium and annuity deposits.

Jay works closely with his Regional Sales Manager, Andy Martin. Andy is President of First Protective and has been featured as an MDRT speaker. His influence has led Jay to develop his own way to give back to this industry.

Jay is a qualifying member of the MDRT. He is an active member and Board Member of the Mobile Association of Insurance and Financial Advisers. He will serve as its President for 2006-2007. Jay is also a member of the Mobile Area Chamber of Commerce and serves on the Board of Advisors for the Chamber. Jay serves as a consultant to financial and insurance advisers in South Alabama, the Pan-handle of Florida, Sout Mississippi and Greater New Orleans. He works closely with financial service professionals in doing the right thing for customers with regard to family needs planning, business planning, estate preservation, capital transfer, wealth preservation and legacy planning. He is the author of the SalesJive Newsletter, a publication that inspires financial service professionals on a monthly basis.

Jay is married to Kasey and they have a son named John.