I’d like to paint a picture for you. As a real estate agent you help people find their dream homes. They may expect to live in their home for the next 10 years or beyond. But, until they pay off the mortgage, the bank owns their home. That means if the homeowner gets an illness that results in him/her not being able to work to pay the mortgage they may lose the home. In a worst case scenario if the homeowner passes away the responsibility of the mortgage lands on the remaining spouse. If the remaining spouse isn’t the primary breadwinner, this can pose a challenge and in many cases the family loses their dream home. This tragedy can be easily prevented with your help.
How to Protect the Family
Imagine now if you can show them a way to protect their mortgage against illness or death. If they have a $500,000 mortgage, they have a $500,000 mortgage protection life insurance policy that they can use to pay the mortgage. Can you think of the peace of mind you’re giving that family? Most real estate agents don’t think beyond selling the home, but now you’ll set yourself apart from every other real estate agent out there.
How You Can Help
You have 3 ways you can work with a life insurance agent depending on how much you want to earn as a side income and how much involvement you want.
Referral Agent. Without a license, a life insurance agent can give you up to $100 gift card for a referral. Your life insurance agent can give you brochures to hand out to your clients as well as videos that explain how mortgage protection life insurance can help the family. If they want to apply for a policy you can refer them to the life insurance agent who will complete the entire process. Once the family is approved, you will get your gift.
50% Referral Agent. With a license, you can get a split on all policies and get 50% of the commission. The life insurance license is quite simple to get. The classes are online and you only need to pass the exam in 1 state and have the ability to sell across the country as long as you purchase a non-resident license. Life insurance pays residually so every year the client stays in their home and keeps their policy, which is generally for life, you will get paid annually.
100% Agent. With a license you can get 100% of the commissions and 100% of the residuals as long as you help the client with the application and complete the process of approval. This is actually simpler for you since you’ve already got all their paperwork. You submit the application online and they e-sign. Once approved you will earn the entire commission.
Out of those 3 ways, which way would you prefer to help your clients?
Contact me here below and let’s discuss our options!