by Jonathan Mullett BA
Performins Canada Inc.
Recently I came across some other client files that were rated as smokers. In a call to touch base it was discovered that they had quit smoking a number of years ago and may be eligible for a rate reduction. This was an opportunity for me to provide value to the client, re-evaluate their plan, and ask for referrals.
It used to be that 50% of the adults in Canada smoked, but times have changed since that statistic was released in 1965. Today between 15% and 20% of adults admit to smoking some form of tobacco on a regular or occasional basis, and many Canadians are thinking about quitting or have quit altogether. This is a great decision, not only from a personal health perspective, but from a financial perspective. Not only will the expense of cigarettes be saved, but when a life insurance policy holder has been tobacco/nicotine free for 12 months, then they can apply have the “smoking status” taken off of the policy. This may potentially reduce the premium by 40%!! It all adds up to a whole bunch more green in the jeans.
The “green in the jeans” can be used to upgrade the current plan with conversions, a replacement, some CI coverage, etc… which translates into great customer service and additional income. So when you review your files, keep an eye out for “smoker” policies and consider calling the clients to ask them if they still are smokers. If they are not, then opportunity may be knocking…
Happy Advising!!
Jonathan Mullett is Inside Sales Coordinator at Performins Canada Inc. For questions, comments and feedback, email: jmullett@performins.com.
