Life Stage Financial Planning and Needs-

Based Selling

This module will help you assess your client's life stage and the financial priori es associated with it.
This will let you plan accordingly and help make your client's vision of a Brighter Life a reality.

Learning Objectives

Introduction

LIFE STAGE PLAN N IN G

Life Stages

Money for Life

N EEDS- B ASED SELLIN G

Needs-Based Sales Cycle

SUMMAR Y

Summary
KN OWLEDGE CH ECK

Knowledge Check

ACH IEVEMEN T B ADGE

Congratulations!

DOWN LOADAB LE H AN DOUT

Downloadable Module Handout

Lesson 1 of 9

Learning Objectives

By the end of this module, you will be able to:

1. Describe life stage financial planning

2. Describe the needs-based sales cycle
Lesson 2 of 9

Introduction

This module covers the two elements of the Brighter Life Approach, Sun Life's unique method of financial planning,
something all of our advisors must take to heart.

Life Stage Financial Planning

At Sun Life, financial planning is based on different life stages. We want our clients to realize that goals and
concerns change throughout our life me. Thus, the vision of a Brighter Life also changes as we go from one life
stage to another.

Remember that Life Stage Financial

Planning does not use age as an indicator.
Rather, we put emphasis on themes and
priorities.
The Four Life Stages

Acquaint yourself with the four life stages. We will discuss each in more detail later on.
Flip each card to learn more.

Building independence and

confidence

Prioritizing family above all

 Nurturing my health and
wealth

Ensuring lasting golden years

Complete the content above before moving on.

Needs-Based Sales Cycle

Financial advisors use this map to help clients achieve a brighter life. The Brighter Life Approach to financial
planning uses this selling process in conjunc on with life stage planning.

Next: Life Stages

How can you determine your client's life stage? Do you know which one you are at?

LEARN MORE
Lesson 3 of 9

Life Stages

Watch this video to learn more.

Complete the content above before moving on.

To review...
 Match the theme/mantra to the corresponding life stage.

Building independence and confidence;

Ge ng Started
Me, myself, and I

Family needs are of the utmost

Moving Up
importance

Nurturing my health and wealth Preparing Ahead

Ensuring comfortable golden years Leaving a Legacy

SUBMIT

Complete the content above before moving on.

Reflection
Using what you have learned, at which life stage do you currently belong?

Next: Money for Life

How can you more easily find clients and close deals?

LEARN MORE
Lesson 4 of 9

Money for Life

(If you are on a slow internet connec on, this sec on may take a few moments to load. Thank you for your
pa ence.)

Complete the content above before moving on.

Review the full Money for Life chart above or use the link below to
download a copy for future reference.
Click the image to enlarge.

Money for Life Chart.pdf

251.3 KB

C O NT I NU E
  This is where you come in as a financial advisor. It is your job to help your
clients identify their financial needs and recommend solutions appropriate to
their life goals.

Use the Money for Life graphic as a guideline as the patterns it presents are
not fixed. Life events and goals vary between individuals. As an advisor, you
must listen carefully, helping your client make informed decisions.

It is your job to CREATE, IMPLEMENT, and REVIEW your client's financial

plan.

C O NT I NU E

To review...
Match the descrip on to its need.

Money for expenses arising from the

Emergency Fund
onset of sudden unexpected events

Money to protect you and your family

Income Protec on
against un mely death

Money to cover medical expenses Health Protec on

Money for all short-/mid-/long-term

Saving for Milestones
saving targets

Money for comfortable living during the

Re rement Fund
Golden Years

Related to protec ng or transferring of

Estate Transfer Fund
wealth/assets

SUBMIT

Complete the content above before moving on.

Next: Needs-based Sales Cycle
Is there an easier way to find clients and close deals?

LEARN MORE
Lesson 5 of 9

Needs-Based Sales Cycle

Click the hotspots to learn more.

 

 
 

Prospecting

Seeking poten al buyers of your products - It is a process of looking for people to see and talk to and to eventually qualify.
 

Approach

This is the process of obtaining the prospect’s consent to see you. In essence, it is SETTING AN APPOINTMENT. The objec ve is
to secure an appointment under favorable condi ons.
 

Needs-Based Sales Presentation

We follow the needs-based sales presenta on process where we understand our clients first before recommending a
product solu on. This is our way to shi from product-pushing to a client-focused approach.
 

Closing & Handling Objections

Objec ons can happen at any step in the sales process and should be handled accordingly. It is an integral part of selling
because they can actually be buying signals. Last but not the least, closing is anything that you do that will lead the client to
take ac on and purchase a plan.

The needs-based sales cycle is the map for financial advisors in helping clients achieve a brighter life. You can
minimize the difficulty and challenges, by following the four ac vi es. These ac vi es are linked together to form
one endless cycle that would make you a successful financial advisor.

Complete the content above before moving on.

We will discuss the ac vi es of the cycle more extensively when Life Stage Financial Planning is integrated with the
Needs-Based Sales Cycle into the Brighter Life Approach in the next module.

Next: Summary
Review the key takeaways of this module.

LEARN MORE
Lesson 6 of 9

Summary

Click each key concept to review.


 

Life Stage Financial Planning

In Sun Life, we do financial planning by life stage. This recognizes the fact that an individual's goals and concerns vary over
the course of a life me and that the vision of a Brighter Life differs from one life stage to another.
In the Life Stage Approach, we don’t use age as an indicator but rather we go by the theme or priority.
 

Needs-Based Sales Cycle

The needs-based sales cycle is the map financial advisors use to help clients achieve a brighter life, minimizing the difficulty
and challenges of selling by following four easy steps:

1. Prospec ng

2. Approach

3. Needs-Based Sales Presenta on

4. Closing & Handling Objec ons

 

The Brighter Life Approach

The Brighter Life Approach is the integra on of Life Stage Financial Planning and the Needs-Based Sales Cycle.

Complete the content above before moving on.

Next: Knowledge Check

Let's see how much you've learned.

LET'S GO!
Lesson 7 of 9

Knowledge Check

Let's see what you have learned.

Ques on

01/05

Which Life stage describes priori zing your family above all, prepares for child educa on and needs
to get a life insurance to address uncertain es?

GETTING STARTED

MOVING UP

PREPARING AHEAD

LEAVING A LEGACY
Ques on

02/05

We are no longer referred to as insurance agents but as financial planners – and to differen ate our
services, we must put our clients’ needs first. They can only achieve financial security by helping
them create, implement and review their financial plan. Thus, in Sun Life, we are more specific with
our financial planning approach because we do it by:

PRODUCT PUSHING

LIFE STAGE APPROACH

OFFERING THE CHEAPEST PLAN

OFFERING VARIABLE UNIVERSAL LIFE PRODUCTS

Ques on

03/05

We follow this process where we understand our clients first before recommending a product
solu on. This is our way to shi from product pushing to a client-focused approach.

PROSPECTING

APPROACH

NEEDS-BASED SALES PRESENTATION

HANDLING OBJECTIONS
Ques on

04/05

It ensures that you know where your money is going. It also means that we spend on the things
that we need and make us happy while scrimping on the things that we do not value as much.

BUILDING AN EMERGENCY FUND

CREATING A CONSCIOUS SPENDING PLAN

SAVING FOR LIFE'S MILESTONES

PREPARING FOR RETIREMENT FUND

Ques on

05/05

It ensures that you have a liquid fund to draw from should an emergency arise like sudden job loss,
hospitaliza on, calamity, etc.

INVESTMENT FUND

CREATING A CONSCIOUS SPENDING PLAN

BUILDING AN EMERGENCY FUND

PREPARING FOR RETIREMENT FUND

Lesson 8 of 9

Congratulations!

You have completed Module 4.

You have earned a badge!

Next: Downloadable Handout
You may download the handout for your review.

DOWNLOAD
Lesson 9 of 9

Downloadable Module Handout

Click the PDF document to download the module handout.

Life Stage Financial Planning and Needs-Based

Selling.pdf
8.2 MB

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