Bob Ritter's Blog #70: What Exactly is CheckMate® Logic? | Bob Ritter's Blog, ideas for financial service professionals

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Bob Ritter's Blog #70 What Exactly is CheckMate® Logic? Chess Image

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CheckMate® logic involves a series of illustrations in which a client’s objections are anticipated — and answered — as part of the presentation process. I believe it is fundamental to the effective sale of cash value life insurance.

When reviewing an illustration for cash value life insurance, many clients have the following two issues on their minds (if they don’t, their CPA or other adviser may when they share it):

Would this work out better if I invested the money elsewhere?
Should I buy term and invest the difference?

This is particularly true if substantial amounts of policy loans for retirement cash flow are a key part of the illustration.

Can’t these concerns be countered conversationally as part of the interview process? In my opinion, they cannot be addressed with just words. To do it effectively requires a realistic comparison of the numbers.

The internet is loaded with well-written articles on this subject — but they typically are all words — no numbers. At InsMark, we do numbers and graphics and let the mathematical facts speak for themselves.

Steve Savant and Don Prehn continue with their informative video series demonstrating the logic of CheckMate®. You can view Don and Steve’s seven-minute video on this subject below.

If you’d like more detail plus a look at the three reports from the InsMark Illustration System that make up this powerful sales concept, see Blog #49: More CheckMate® Selling which includes:

Life Plan*

Various Financial Alternatives

Permanent vs. Term

*Some prefer the Illustration of Values report.

Important Note: The illustrations featured in the video and Blog #49 include participating policy loans (cash values securing these loans continue to participate in whatever interest is credited to the policy). This feature can produce significantly better results than fixed loans. For a demonstration of this, see my Blog #52: Participating Loans vs. Fixed Loans.

Conclusion

If you adopt our CheckMate® logic, it will have a profound effect on your closing ratios.

Important Note: Many of you are rightly concerned about the potential tax bomb in life insurance that can accidentally be triggered by a careless policyowner. Click here to read Blog #51: Avoiding the Tax Bomb in Life Insurance.

InsMark’s Digital Workbook Files

If you would like some help creating customized versions of the presentations in this Blog for your clients, watch the video below on how to download and use InsMark’s Digital Workbook Files.

New Zip File Downloaders
Watch the video.

Digital Workbook Files For This Blog

Blog49.zip

Download all workbook files for all blogs

Experienced Zip File Downloaders Download the zip file, open it, and double click the Workbook file name to open it in your InsMark System.

Note: If you are viewing this on a cell phone or tablet, the downloaded Workbook file won’t launch in your InsMark System. Please forward the Workbook where you can launch it on your PC where your InsMark System(s) are installed.

Licensing

To license the InsMark Illustration System, contact Julie Nayeri at julien@insmark.com or 888-InsMark (467-6275), or you can click here to order it at the InsMark website. Institutional inquiries should be directed to David Grant, Senior Vice President — Sales, at dag@insmark.com or 925-543-0513.

InsMark’s Referral Resources
(Put our Illustration Experts to Work for Your Practice)

We created Referral Resources to deliver a “do-it-for-me” illustration service in a way that makes sense for your practice. You can utilize your choice of insurance company, there is no commission split, and you don’t have to change any current relationships. They are very familiar with running InsMark software.

Please mention my name when you talk to a Referral Resource as they have promised to take special care of my readers. My only request is this: if a Referral Resource helps you get the sale, place at least that case through them; otherwise, you will be taking unfair advantage of their generous offer to InsMark licensees.

Save time and get results with any InsMark illustration. Contact:

Ben Nevejans, President of LifePro Financial Services in San Diego, CA.

Joint Interviews

If you want or need help from a qualified producer for joint interviews with any InsMark illustration and are willing to share the case, email us at bob@robert-b-ritter-jr.com, and we will provide you with recommendations.

Testimonials

"InsMark helps us help our clients understand their money and their choices. I learn something new that changes what we do and how we can do it more efficiently. That translates to a better bottom line for us and for our clients. It’s making more money for everyone — just by pushing InsMark buttons on the computer."
Kay Corbin, CLU, ChFC (InsMark Platinum Power Producer®) Phoenix, AZ

“The reason I use InsMark products is because they are so good at explaining financial concepts to all three parties: 1) the producer trying to explain the idea; 2) the computer technician trying to illustrate it; 3) the customer trying to understand it.”
Rich Linsday, CLU, AEP, ChFC, Pasadena, CA

"InsMark’s Life Plan presentation provides a valuable tool for our agents in discussing retirement plans with their clients. Its concise and to-the-point design makes the concept very easy to understand. And, having it available in both Spanish and English has proven to be extremely useful."
Zerita Reynolds, CLU, ChFC, FLMI, LLIF, REBC, RHU Director, Advanced Markets, Aviva USA

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