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What is the exception where you can mention a product over the phone?

• You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance • Example of presenting the purpose: • I am from Mr. Popescu, our mutual acquaintance • Did Mr. Popescu inform you that I will call you? • All right • I know you are interested in insurance...is that true? • Perfect • To develop an insurance solution I need some information • Is it okay if I write you on WhatsApp and you reply like that?

What mistakes to avoid in the telephone approach?

• In the telephone approach, your main "weapon" is your voice; use it as effectively as you can: • Avoid: - Flat voice - The stammer - Long sentences - Diminutives - Sweets - Flattery - Arrogance - Presentation of products - with one exception - Exaggerations - Apologies • Each of these mistakes is an additional reason for refusal • If your phone approach doesn't work, the reasons are more than likely to be found in this list • To be successful, re-read and apply what BrainO teaches you about the telephone approach

How do you deal with the "Not now" objection?

• It is actually another form of expressing the objection "I don't need" • A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home) - A: Not now • Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again. (propose the meeting) - A: Not now • If fire, death, or earthquake reach you before me... You say what will happen then. (propose the meeting) • A: I look for you when I need it • I understand you... Only when you need it you will have to call 112, not me. I can help you today, when you are healthy, have a home, maybe a car... I mean a good life (proposes the meeting)

How do you solve the "I don't have money" objection?

• Most often it is also a form of expressing the objection "I don't need" • A customer who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property) - A: I have no money • How to tell you ... If today, when you are healthy, earn money, have a home, you say you have no money, then after a tragedy what will it be like? (propose the meeting) - A: I have no money • I understand you don't have money to throw away. Which is very good, because it means you know the value of the penny. And this is exactly what I propose to talk about, how to protect what you have – house, income, savings. (propose the meeting)

How do you resolve the "I don't trust" objection?

- A: I don't trust insurance • I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting) - A: I don't trust insurance • You see... after an earthquake there will be two categories of people: some who will receive money for a new home and others who will wonder who and why they didn't trust. Millions of people around the world trust us. Why wouldn't you have? (propose the meeting) - A: I had insurance and... I wasn't satisfied... • I understand you. There is no forest without dry areas. It just means that you have to be careful in whose hands you leave your family's financial security. (propose the meeting) - R: I heard that someone suffered... did not receive... was dissatisfied... • I understand you. The person you heard this from may or may not be right. But in any case he will not pay you tens of thousands of Euros in case of damage. Only an insurer will. (propose the meeting)

How do you deal with the "I don't need it" objection?

- A: I don't need it • You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting) - A: I don't need it • Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will address. (propose the meeting) - A: I have insurance • Is OK. I expected you to have insurance. Many of my clients had insurance when we met, but found they were underinsured. In this case our discussion will be shorter and you will only gain from it. (propose the meeting) - A: I have an agent • Is OK. If we deduce that you have enough insurance, you will congratulate him. And if not, I will propose solutions that he did not propose. (propose the meeting) - R: What the Lord will give, with good and bad... • That's right... God gives us everything, both good and bad, as you say... And then it means that God also sent me to you today (proposes the meeting)

How do you deal with objections that never stop...?

- A: No... No... No... • Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed? - R: Leave it, you don't care about me... you care about your commission • Frankly, I, with or without a policy, am neither richer nor poorer... but your family, without the right policy, can become very, very poor... (proposes meeting) - A: I said NO! • Is OK. I will give up, at least for now. Please tell me, do I have your consent to come back with a phone in 3 months? - Once a month I send clients interesting information in the field of risk. Would you like to receive them too? If you like them, you can also send them to your friends. If not, you can unsubscribe

What are the objectives of the telephone approach?

• The telephone approach has a main objective and a secondary objective: - The main objective is to schedule an appointment - The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding

What are the rules of the telephone approach?

- Respect the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease - Build a universal approach scenario; use Braino's recommendations and prepare a scenario that suits you - Be prepared for objections; prepare a set of your own responses to each objection - After answering the objection, propose the meeting; otherwise you give the client the time to come up with another objection - Speak loudly, clearly, with intonation, use pauses; voice is the only weapon you have in the telephone approach - Fit in 1-2 minutes; if the client initiates debates, suggest that you continue the discussion at the meeting - Finds a balance between politeness and insistence; one without the other has no effectiveness - Requests feed-back; ask a colleague to listen to you and tell you what you are doing well and what you are not doing, in his opinion - Immediately after the conversation, write the result in the work diary, preferably in electronic format (Braino can offer you a powerful tool - Inteligenda); otherwise you will forget the result of the discussion • The result contains the name, phone number, date and time of the meeting, other specific details

How do you handle objections to the telephone approach?

• The telephone conversation is a stage prone to objections; why? - Romanians disregard insurance - The client doesn't know you - Your call may drop at an inopportune moment • Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks • "You don't make spring with a flower", and you don't make a portfolio with a phone... • The development of the ability to solve telephone objections is strongly influenced by the volume of approaches; only hundreds of approaches will make you master this activity • BrainO is a good trainer, but he can't play for you

What is the specificity of the telephone approach?

• Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary • The telephone approach is an activity with a high nervous consumption, which generates discomfort • The fact that you anticipate being turned down, sometimes even in a cheeky way, creates a stress that many brokers are not willing to accept • But it is not possible without a telephone approach • Without the telephone approach of some potential customers you will not reach the receipts or the income you dream of • The telephone approach is included in the price you pay to receive commissions of 10...20...30% on optional insurances

What mistakes to avoid in the telephone approach?

• Try to (self) evaluate the way you do the telephone approach • You can do it in two ways: - Ask someone - a colleague or a family member - to give you feedback - Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and correct what you did wrong • And subsequently delete the records because you do not have the written consent of the customer to record it

How do you solve the "I don't have money" objection?

• Don't fall into the trap of saying "But I don't want to sell you anything"; of course you want to sell! • Forget expressions like "I just want to get to know each other", "I just want to see what policies you have"; don't start the relationship with lies... • Don't make the mistake of saying - from the phone - "Well, I can offer you cheap insurance, the cheapest on the market"... • In this way you will compromise yourself in the eyes of the client, who will automatically put in your mind the label "Another who wants to fool me. I don't need him!"... • ... or, if you come across a customer with a toupee, you risk hearing: "Oh, yes? Do you have cheap insurance? That's great! Send me one for 100 lei" • What are you doing then...?

How do you deal with objections that never stop...?

• A customer lost today is not necessarily a customer lost forever • The client who turned you down today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about people suffering... there may be a fire near the home... etc. • Any information about a risk will be associated in the customer's mind with who you are and what you said on the phone • What did you say to him on the phone? • That risks can occur at any time and that it would be good to insure • On your next call he will accept the appointment • Or he will call you himself, earlier • An insurance intermediary must be present in the life of every family • Must have a discreet but constant presence • Because risks are also present throughout life

How do you recommend the right life insurance?

• Who needs life insurance? • How do you recommend life insurance with savings? • How do you size a life insurance?

How do you recommend the right life insurance?

• If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning • He will never be able to say that he was not well advised • Insist on selling the client "enough" insurance, i.e. sufficient protection against major risks: death, disability, serious illnesses • Many people avoid considering them out of superstition, but the risk is a certainty

What is risk tolerance?

• Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain • A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid

Who needs life insurance?

• People need death insurance... • People need death insurance...

How do you determine risk tolerance?

• You can ask the client the following two questions: - Would you borrow 3,000 Euros to invest them? (Yes No) - If the investment made a loss, would you leave the money there? (Yes No) • Conclusion: - If the client offered at least a "No", then it means that he has low risk tolerance - If the client offered two "Yes", then it means that he has a high risk tolerance

How do you size death insurance?

• A client has "enough" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years • Mortgages, if any, must be added to this amount

How do you size life insurance with savings?

• A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income

How do you recommend life insurance with savings?

• You will recommend life insurance with savings based on:

Why do people with credit need life insurance?

• In case of premature death, the balance of the loan will be paid by the insurer • The beneficiary of the insurance is the creditor (e.g. the bank) • If the sum insured exceeds the balance, the family will receive the difference

Why do people on whom the fate of a family depends need death insurance?

• With the death of the person, the income that he brought to the family also disappears • Life insurance replaces the income of the prematurely deceased person

Why do key people in a business need life insurance?

• In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline • Sum insured can be equal to the profit generated by the key man • The beneficiaries of the insurance are the shareholders, in the case of SA, respectively the associations, in the case of SRL

What is the child savings package?

• The optimal savings option for the child is the package composed of: - The savings plan for the child • Life insurance of the insured (usually the parent) • The insured's permanent disability insurance due to the accident • Exemption from payment of premiums in case of invalidity of the insured

What policy do you recommend to a client with a high risk tolerance?

• You recommend a unit linked investment policy to a client with a high risk tolerance

What policy do you recommend to a client with a low risk tolerance?

• To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance

What is risk tolerance?

• Avoid the question "Which profit do you want, more or less?" • All people will benefit as much as possible • But not everyone is willing to take risks • Don't rush to recommend the type of savings insurance until you've determined your risk tolerance • If you recommend wrongly, you will induce unrealistic expectations, and this is the first step towards disappointment...

Who needs life insurance?

• To sell life insurance you can appeal to feelings of care, affection and even shame • For example, you can ask: • What will relatives and friends say about you if you leave your family without money? • In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him • That's why you'll often hear “Why do I need life insurance? If they die, that's…” • Life insurance is not for selfish people • To sell life insurance you can appeal to feelings of care, affection and even shame • For example, you can ask: • What will relatives and friends say about you if you leave your family without money? • In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him • That's why you'll often hear “Why do I need life insurance? If they die, that's…” • Life insurance is not for selfish people

How do you size life insurance with savings?

• If the client asks you why it is "so expensive", explain that, whatever happens to him, the money goes back to the family • What is not known is only the moment… • When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the death policy • Not everyone can afford to save

How do you recommend life insurance with savings?

• Don't forget the "formula" of satisfaction: Satisfaction = Expectations - Reality • Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child • Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf...

Why do people on whom the fate of a family depends need death insurance?

• If the dependent client asks: • If I die, what else do I need insurance for? • reply: • If you die, will your descendants still need money to live on? • Life insurance does not ensure that you do not die • But life insurance ensures that your plans don't die with you

What is the child savings package?

• If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say: • You just save • The money belongs to the child • Uses the "domino principle" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advantage of this package

What policy do you recommend to a client with a high risk tolerance?

• Life is priceless… • And then how can you size a life insurance? • Life insurance is money, paid out in hard times or good times • A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit • Emphasize this specificity as best as possible

What policy do you recommend to a client with a low risk tolerance?

• If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool • If the insured becomes disabled, the insurer will save in his place • A customer with low risk tolerance will buy life insurance for the sum assured • Emphasize this advantage as best as possible

What is the exception where you can mention a product over the phone?

• You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance • Example of presenting the purpose: • I am from Mr. Popescu, our mutual acquaintance • Did Mr. Popescu inform you that I will call you? • All right • I know you are interested in insurance...is that true? • Perfect • To develop an insurance solution I need some information • Is it okay if I write you on WhatsApp and you reply like that?

What is the specificity of the telephone approach?

• Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary • The telephone approach is an activity with a high nervous consumption, which generates discomfort • The fact that you anticipate being turned down, sometimes even in a cheeky way, creates a stress that many brokers are not willing to accept • But it is not possible without a telephone approach • Without the telephone approach of some potential customers you will not reach the receipts or the income you dream of • The telephone approach is included in the price you pay to receive commissions of 10...20...30% on optional insurances

What are the objectives of the telephone approach?

• The telephone approach has a main objective and a secondary objective: - The main objective is to schedule an appointment - The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding

What are the rules of the telephone approach?

- Respect the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease - Build a universal approach scenario; use Braino's recommendations and prepare a scenario that suits you - Be prepared for objections; prepare a set of your own responses to each objection - After answering the objection, propose the meeting; otherwise you give the client the time to come up with another objection - Speak loudly, clearly, with intonation, use pauses; voice is the only weapon you have in the telephone approach - Fit in 1-2 minutes; if the client initiates debates, suggest that you continue the discussion at the meeting - Finds a balance between politeness and insistence; one without the other has no effectiveness - Requests feed-back; ask a colleague to listen to you and tell you what you are doing well and what you are not doing, in his opinion - Immediately after the conversation, write the result in the work diary, preferably in electronic format (Braino can offer you a powerful tool - Inteligenda); otherwise you will forget the result of the discussion • The result contains the name, phone number, date and time of the meeting, other specific details

What mistakes to avoid in the telephone approach?

• In the telephone approach, your main "weapon" is your voice; use it as effectively as you can: • Avoid: - Flat voice - The stammer - Long sentences - Diminutives - Sweets - Flattery - Arrogance - Presentation of products - with one exception - Exaggerations - Apologies • Each of these mistakes is an additional reason for refusal • If your phone approach doesn't work, the reasons are more than likely to be found in this list • To be successful, re-read and apply what BrainO teaches you about the telephone approach

What mistakes to avoid in the telephone approach?

• Try to (self) evaluate the way you do the telephone approach • You can do it in two ways: - Ask someone - a colleague or a family member - to give you feedback - Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and correct what you did wrong • And subsequently delete the records because you do not have the written consent of the customer to record it

How do you deal with the "Not now" objection?

• It is actually another form of expressing the objection "I don't need" • A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home) - A: Not now • Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again. (propose the meeting) - A: Not now • If fire, death, or earthquake reach you before me... You say what will happen then. (propose the meeting) • A: I look for you when I need it • I understand you... Only when you need it you will have to call 112, not me. I can help you today, when you are healthy, have a home, maybe a car... I mean a good life (proposes the meeting)

How do you solve the "I don't have money" objection?

• Most often it is also a form of expressing the objection "I don't need" • A customer who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property) - A: I have no money • How to tell you ... If today, when you are healthy, earn money, have a home, you say you have no money, then after a tragedy what will it be like? (propose the meeting) - A: I have no money • I understand you don't have money to throw away. Which is very good, because it means you know the value of the penny. And this is exactly what I propose to talk about, how to protect what you have – house, income, savings. (propose the meeting)

How do you solve the "I don't have money" objection?

• Don't fall into the trap of saying "But I don't want to sell you anything"; of course you want to sell! • Forget expressions like "I just want to get to know each other", "I just want to see what policies you have"; don't start the relationship with lies... • Don't make the mistake of saying - from the phone - "Well, I can offer you cheap insurance, the cheapest on the market"... • In this way you will compromise yourself in the eyes of the client, who will automatically put in your mind the label "Another who wants to fool me. I don't need him!"... • ... or, if you come across a customer with a toupee, you risk hearing: "Oh, yes? Do you have cheap insurance? That's great! Send me one for 100 lei" • What are you doing then...?

How do you deal with the "I don't need it" objection?

- A: I don't need it • You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting) - A: I don't need it • Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will address. (propose the meeting) - A: I have insurance • Is OK. I expected you to have insurance. Many of my clients had insurance when we met, but found they were underinsured. In this case our discussion will be shorter and you will only gain from it. (propose the meeting) - A: I have an agent • Is OK. If we deduce that you have enough insurance, you will congratulate him. And if not, I will propose solutions that he did not propose. (propose the meeting) - R: What the Lord will give, with good and bad... • That's right... God gives us everything, both good and bad, as you say... And then it means that God also sent me to you today (proposes the meeting)

How do you resolve the "I don't trust" objection?

- A: I don't trust insurance • I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting) - A: I don't trust insurance • You see... after an earthquake there will be two categories of people: some who will receive money for a new home and others who will wonder who and why they didn't trust. Millions of people around the world trust us. Why wouldn't you have? (propose the meeting) - A: I had insurance and... I wasn't satisfied... • I understand you. There is no forest without dry areas. It just means that you have to be careful in whose hands you leave your family's financial security. (propose the meeting) - R: I heard that someone suffered... did not receive... was dissatisfied... • I understand you. The person you heard this from may or may not be right. But in any case he will not pay you tens of thousands of Euros in case of damage. Only an insurer will. (propose the meeting)

How do you deal with objections that never stop...?

- A: No... No... No... • Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed? - R: Leave it, you don't care about me... you care about your commission • Frankly, I, with or without a policy, am neither richer nor poorer... but your family, without the right policy, can become very, very poor... (proposes meeting) - A: I said NO! • Is OK. I will give up, at least for now. Please tell me, do I have your consent to come back with a phone in 3 months? - Once a month I send clients interesting information in the field of risk. Would you like to receive them too? If you like them, you can also send them to your friends. If not, you can unsubscribe

How do you deal with objections that never stop...?

• A customer lost today is not necessarily a customer lost forever • The client who turned you down today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about people suffering... there may be a fire near the home... etc. • Any information about a risk will be associated in the customer's mind with who you are and what you said on the phone • What did you say to him on the phone? • That risks can occur at any time and that it would be good to insure • On your next call he will accept the appointment • Or he will call you himself, earlier • An insurance intermediary must be present in the life of every family • Must have a discreet but constant presence • Because risks are also present throughout life

How do you handle objections to the telephone approach?

• The telephone conversation is a stage prone to objections; why? - Romanians disregard insurance - The client doesn't know you - Your call may drop at an inopportune moment • Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks • "You don't make spring with a flower", and you don't make a portfolio with a phone... • The development of the ability to solve telephone objections is strongly influenced by the volume of approaches; only hundreds of approaches will make you master this activity • BrainO is a good trainer, but he can't play for you

What is the child savings package?

• The optimal savings option for the child is the package composed of: - The savings plan for the child • Life insurance of the insured (usually the parent) • The insured's permanent disability insurance due to the accident • Exemption from payment of premiums in case of invalidity of the insured

What is the child savings package?

• If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say: • You just save • The money belongs to the child • Uses the "domino principle" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advantage of this package

What is risk tolerance?

• Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain • A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid

What is risk tolerance?

• Avoid the question "Which profit do you want, more or less?" • All people will benefit as much as possible • But not everyone is willing to take risks • Don't rush to recommend the type of savings insurance until you've determined your risk tolerance • If you recommend wrongly, you will induce unrealistic expectations, and this is the first step towards disappointment...

What policy do you recommend to a client with a high risk tolerance?

• You recommend a unit linked investment policy to a client with a high risk tolerance

What policy do you recommend to a client with a high risk tolerance?

• Life is priceless… • And then how can you size a life insurance? • Life insurance is money, paid out in hard times or good times • A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit • Emphasize this specificity as best as possible

What policy do you recommend to a client with a low risk tolerance?

• To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance

What policy do you recommend to a client with a low risk tolerance?

• If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool • If the insured becomes disabled, the insurer will save in his place • A customer with low risk tolerance will buy life insurance for the sum assured • Emphasize this advantage as best as possible

Who needs life insurance?

• People need death insurance... • People need death insurance...

Who needs life insurance?

• To sell life insurance you can appeal to feelings of care, affection and even shame • For example, you can ask: • What will relatives and friends say about you if you leave your family without money? • In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him • That's why you'll often hear “Why do I need life insurance? If they die, that's…” • Life insurance is not for selfish people • To sell life insurance you can appeal to feelings of care, affection and even shame • For example, you can ask: • What will relatives and friends say about you if you leave your family without money? • In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him • That's why you'll often hear “Why do I need life insurance? If they die, that's…” • Life insurance is not for selfish people

How do you determine risk tolerance?

• You can ask the client the following two questions: - Would you borrow 3,000 Euros to invest them? (Yes No) - If the investment made a loss, would you leave the money there? (Yes No) • Conclusion: - If the client offered at least a "No", then it means that he has low risk tolerance - If the client offered two "Yes", then it means that he has a high risk tolerance

How do you size death insurance?

• A client has "enough" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years • Mortgages, if any, must be added to this amount

How do you size life insurance with savings?

• A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income

How do you size life insurance with savings?

• If the client asks you why it is "so expensive", explain that, whatever happens to him, the money goes back to the family • What is not known is only the moment… • When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the death policy • Not everyone can afford to save

How do you recommend life insurance with savings?

• You will recommend life insurance with savings based on:

How do you recommend life insurance with savings?

• Don't forget the "formula" of satisfaction: Satisfaction = Expectations - Reality • Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child • Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf...

How do you recommend the right life insurance?

• Who needs life insurance? • How do you recommend life insurance with savings? • How do you size a life insurance?

How do you recommend the right life insurance?

• If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning • He will never be able to say that he was not well advised • Insist on selling the client "enough" insurance, i.e. sufficient protection against major risks: death, disability, serious illnesses • Many people avoid considering them out of superstition, but the risk is a certainty

Why do key people in a business need life insurance?

• In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline • Sum insured can be equal to the profit generated by the key man • The beneficiaries of the insurance are the shareholders, in the case of SA, respectively the associations, in the case of SRL

Why do people with credit need life insurance?

• In case of premature death, the balance of the loan will be paid by the insurer • The beneficiary of the insurance is the creditor (e.g. the bank) • If the sum insured exceeds the balance, the family will receive the difference

Why do people on whom the fate of a family depends need death insurance?

• With the death of the person, the income that he brought to the family also disappears • Life insurance replaces the income of the prematurely deceased person

Why do people on whom the fate of a family depends need death insurance?

• If the dependent client asks: • If I die, what else do I need insurance for? • reply: • If you die, will your descendants still need money to live on? • Life insurance does not ensure that you do not die • But life insurance ensures that your plans don't die with you

What can be the consequences of business interruption?

• Sudden loss of income due to cessation of production or cessation of services • Loss of strategic customers, especially in case of exceptional stock shortages • "Leakage" of key employees, respectively experts and singular specialists • Loss of image – a company "on the rocks" loses its attractiveness, both for customers and for partners or potential investors

What fixed and additional costs will the insurer cover?

• The insurer will compensate: - The cost of cleaning and fitting out the damaged premises - Moving costs to and from the new premises - Utilities from the new headquarters - Dismantling the damaged machine - Transport, installation and testing of the new machine - Wages, including overtime - Bank installments, insurances • During the period of business decline, the expenses, fixed plus additional, were: - In the first 7 months, in which the company operated at the new headquarters, with the rented equipment, expenses were 45,000 Euros - In the last 2 months, in which the company operated at the old headquarters, after replacing the machine, expenses were 15,000 Euro

What compensation was paid on the business interruption clause?

• Compensation paid on business interruption clause = 74,250 Euros

What is turnover?

• Turnover represents the amount of money that can be paid to the insured for the goods sold, delivered or for the services provided in direct connection with the business

What is secured by the business interruption clause?

• The business interruption clause ensures the gross profit • There is the possibility of exclusively ensuring fixed, constant or increased costs, and the clause is called "increased work costs"

What is compensated in case of damage?

• In case of damage, based on the business interruption clause, the following are compensated: - Fixed costs (salaries, installments, insurance premiums) - The additional costs necessary to restart or continue the activity (for example, moving, renting equipment, overtime, etc.) - Net profit

What total amount did the insured collect under the policy?

• Based on the insurance policy, the client received compensation from two sources: - 65,000 Euros, representing the value of the destroyed equipment and the cost of repairing the building affected by the fire; the insured would have received this amount even if he had bought the "empty" SME policy, without business interruption insurance - 74,250 Euros, representing the amounts needed to restart the business and reach the turnover before the occurrence of the insured risk, based on the business interruption clause • Total compensation paid to the insured = 139,250 Euros

What total amount will the insurer pay?

• The insurer will pay: • Material damage, based on SME insurance • Consequential damages, based on the business interruption clause, namely: - Net profit

What are fixed expenses?

- Utilities (partly) • Fixed expenses from those expenses that must be carried out in any conditions and are not related to the level of production: - Wages - Depreciation - Bank rates - Insurance premiums

What are variable expenses?

• Variable expenses are those expenses that are related to the level of production: - Commissions - Transportation costs - Raw materials - Packaging

What are consequential damages?

• Consequential damages represent indirect damage, arising as a result of the occurrence of an insured event, and consisting of: - Increase in specific costs - Decrease in profit • Consequential damages are usually exclusions on property insurance policies • Business interruption may result in greater losses than destruction of property and assets

How did sales evolve during the compensation period?

• During the compensation period, sales were: • In the first 7 months, in which the company operated at the new headquarters, and used the lower capacity machine, sales were 10,000 Euros • In the last 2 months, when the company returned to the old headquarters and used the new equipment, sales were 9,000 Euros

How is the insured period determined?

• The insured period is determined according to: - The existence of alternative headquarters for moving the activity - The existence of spare machinery - The time required to repair or replace production machinery - The existence of stocks of raw materials - Estimation of the time required for customer recovery

How is the sum insured determined?

• The insured amount is determined based on the business plan • There are two possible scenarios, from the perspective of the insured: • Turnover is expected to stagnate • The increase in turnover is estimated, with the percentage of... %

How long is the compensation period?

• The compensation period begins with the occurrence of the insured event • The compensation period will end when the first of the following two situations occurs:

Is casco insurance valid if the driver is drunk?

• Depends • If the car was stolen and the thief drove the car while drunk, the insurer will pay the compensation and take recourse against the thief • If the car was driven by a drunk driver, but with the consent of the insured, the policy will not produce effects

Is casco insurance valid without winter tires?

• Yes, but insurers apply a penalty • When should winter tires be put on? • The recommendation is to install them from October or at the latest when the weather turns bad (mule, snow, poles)

Is casco insurance valid without a license?

• Depends • If the car was stolen and the thief drove the car without a license, the insurer will pay the compensation and take recourse against the guilty party • If the car was driven by a driver without a license, but with the consent of the insured, the policy will not produce effects

What are the criteria for determining the insurance premium for the casco policy?

• Criteria differ by insurer and depend on each individual's policy • The most important criteria are: - Age of the vehicle - Natural or legal person - Vehicle type (make, model, cylinder capacity, power, maximum authorized mass) - Destination (private use, commercial, taxi, rentals, etc.) - Age of the insured - Age of the license - Number of owners - One or more drivers - Damage history

What documents and information are required to issue the casco policy?

- Identity card or CUI - Receipt (front / back) - Vehicle ID card (front / back) - License (front / back) - The number of kilometers on board - Risk inspection • For new vehicles: - The bill • For second-hand vehicles: - Proof of making RAR

What is casco insurance?

• Casco is an optional insurance aimed at owners of vehicles registered in Romania • On the basis of this insurance, damages suffered by your own vehicle are compensated (unlike RCA, whose effects benefit the damaged third parties)

What is franchising and how does it work?

• The deductible is that part of the damage for which the insured remains his own insurer (in other words, he pays it out of pocket) • By introducing the deductible, the aim is to increase the insured's interest in the insured asset and the existence of a correct attitude towards risk • Plus the casco policy is not a vehicle maintenance policy... • There are mandatory deductibles (for example, in the case of insured natural persons under a certain age, those with a rich claims history, etc.) and optional deductibles, which can be avoided by paying an increased premium • Usually, in the case of partial damage, the excess is paid directly at the service, when the car is picked up

What is risk inspection and how is it performed?

• The risk inspection is an assessment of the physical and technical condition of the vehicle • It consists of taking a set of pictures, with a clean car, in daylight • As a rule, photos are taken showing the following: - Body integrity (pictures from the 4 corners) - The 4 rims and tires - Punched chassis series (or in the windshield) - Dashboard with the key in the ignition and the engine running - Mileage • If there are scratches, etc., a detailed photo is taken and the risk inspection report will be recorded in the policy • Attention: - Pre-existing damages will not be subject to compensation under the policy that will be issued - It is advisable that all these damages are repaired, the risk inspection is carried out again and an additional act is issued stating this

What exclusions does the casco policy contain?

• Excluded risks differ between insurers, but there are common exclusions such as: - Damages incurred in circulation outside the validity of the ITP • Driving without a license or during the suspension period, under the influence of drugs or alcohol • Bad intent or gross negligence • Damage caused by simple combustion, not followed by fire • Simulated or exaggerated damages as well as intentional acts • Nuclear risks, war, trade sanctions or intentional acts • Pre-existing damage • Additional equipment brought to the vehicle that have not been declared and/or are not approved • Deductibles (cannot be insured with another insurer)

Which casco policy should I choose, with or without excess?

• Depends • Both options have advantages and disadvantages • Usually, customers who have deductible policies are more careful • But, even if you take out a policy with a deductible, but if the accident is the fault of another driver, identified, then the deductible does not apply • The choice is yours

What risks does the casco policy cover?

• There are two categories of risks: • There are differences in how these risks are grouped, depending on the insurer

What happens if I stop paying the premium?

• The policy remains valid during the grace period, which is usually 15 days • Subsequently, the policy can be suspended, for a certain period of time, according to the provisions of the insurance conditions (the duration depends on the insurer) or it can be terminated, starting from the date immediately following the due date

What happens in case of total loss?

• The insured receives the maximum insured sum from which the value of the wreckage is deducted • Depending on the type of damage (accidental damage, total theft, natural events), each insurer specifies the exact compensation conditions in the policy (for example, whether or not certain deductibles apply, etc.)