Business Uses of Disability Insurance – Part III – Wage & Salary Continuation
In the book, “Do You Sincerely Want To Be Rich?” written by three top editors of the Sunday Times of London, they relate how the 2 billion dollar firm known as Investors Overseas Services (IOS) rose in the 1960’s and faded into oblivion in the 1970’s. The mastermind behind this scandal shrouded firm was a person by the name of Bernard Cornfield.
Cornfield is not respectfully remembered as a businessman, but he does leave a legacy as to the sales juggernaut he built and the marketing lessons that can be learned. His sales system and psychology could aptly be used with any product.
In thinking about the golden opportunity for brokers to develop substantial accounts by using Business Uses of Disability Insurance as the opening tool, I could not help paraphrasing parts of the IOS sales story which was crafted and polished by Cornfield. It was a relaxed, low pressure presentation intended to whet the appetite of the prospect to the extent the prospect would reach out to buy.
Cornfield’s practice sales story always started with the salutation, “Good Morning Mr. Gelt”. (Gelt is Yiddish for money – Cornfield felt this was valuable in keeping the purpose of the sales story foremost in the mind of the salesperson.) The following sales story using the wage / salary continuation to open accounts is our belief as to how Cornfield would design it.