Last year LV= ran a nationwide competition inviting advisers to share their tips and ideas for illustrating to clients the potential importance of protection insurance. Here, we share the best of them. Today: PIGY.
Name: PIGY
Creator: Rose Hooper, Foster Denovo
What is it? This old chestnut is a simple approach that allows the client to paint their own picture of problems and implications. PIGY, essentially, is four questions designed to probe and uncover clients' feelings, emotions and practicalities.
How does it work?
Clients are asked:
- What Problems would you face if you were too sick to work?
- What Implications would that have on you and your family?
- What would you have to Give up?
- How would You feel?
Note the capital letters in the above questions: PIGY!
Hooper says: "PIGY engages and involves the client, getting them to step in to and experience the problem. Backed up with the relevant statistics and figures, PIGY can bring the hard and unemotional numbers to life.
"Using PIGY helps you get your clients doing all the talking and by the end they will be asking you to set up a policy here and then."
Monday: The Magic Money Making Machine
