HOW TO NUDGE INDIDUALS TO BUY TERM INSURANCE POLICY WHEN THEY PREFER

ULIP & FOR-PROFIT PLANS

PROCESS
 We are consultants and we will have the right side image as our brochure’s cover page
and our main advertisement page
 We will show the individuals this. A good number of individuals would make up their
mind after seeing the cover page as it displays the premium difference in bold letters
This will hit their automatic system and they will make judgement Also there will be some
who will rely on their receptive part and will need some more calculations and facts to
make judgement For them we have pages inside brochure
 All other details regarding term insurance will be mentioned inside ..(The next few pages
though not subsequently will be the next few slides)
 After few initial pages “Why term insurance” will be there which will align the individuals
more towards term insurance Around 60 70 of individuals will not move further than this.
 Then in the last few pages, the premium calculation will be there (Though we used SBI
Life but in actual we will use the company involved) This will show proof to individuals
regarding the premium on the cover page
 Then after this page, we will show why we should separate insurance and investment &
investment?(This calculation is not related to the one in previous slide It is for different
situation) This will be our last page where we will be convincing individuals Although we
believe only a few will arrive to this page
Why Term Insurance?
In a stressful time, such as when a family member dies, life insurance money will be a
consolation and it eliminates the need to think over how the loss of a family member will affect
your life and allows you to be financially stress-free. So, rather than leaving your family in
financial hardship, it is preferable to spend some money to have some relief. It's more important
to support your loved ones than it is to worry about the extra income you'll make. This will also
assist you in securing the wealth that you have accrued over the years, as your families will first
use the insurance funds, and then bring the accumulated wealth to work to reap profits after the
insurance money has run out.
Comparison of Premium amounts.

Why separate Investment & Insurance rather than having Insurance with investment
Product?
Liquidity, uncertainty, protection, clarity, returns, and suitability for various time frames should all
be considered when evaluating an investment. Various types of saving at different points of time
necessitate different needs for the same saver. He may want to move some funds from one
investment to another. ULIP strategies do not have this degree of versatility. To meet your
changing needs and preferences, an individual investment strategy should be considered.