How do I successfully present credit insurance?
Here are few quick reminders:
- Credit insurance should always be included with every loan quote.
- Always assume that your customer is interested in credit insurance.
- Every time you quote a monthly loan payment, include credit insurance.
- Offer credit insurance more than once in the loan process.
- Review the loan application, analyzing it for credit insurance needs.
- Develop a habit of always including credit insurance in each monthly loan payment quote.
- Be prepared to handle any objections.
- Be prepared to justify the cost of credit insurance.
“Mr./Mrs. Borrower, your monthly payment will be $350, and that includes our loan protection package which consists of…”
The WinLoan-32 and eWinLoan includes credit insurance in the monthly payment, and it appears on the “Payment & Insurance” screen. To help you minimize the premium cost, the daily cost of insurance is also quoted.
You might say,
“Mr./Mrs. Borrower, your monthly payment will be $350 and that includes our loan protection package which consists of … The loan protection package is conveniently included in your monthly payment and is only $.75 cents per day. How does that sound?”
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