Back to the Future

Customers are looking for a loan for so many needs; home improvement, purchase of a car, signature loan for various needs, etc.  Whatever their “loan need” is, they are in a “present” state of mind when you help them with their lending need.  They are focused on what they need the money for and certainly not thinking about the future.  That’s why it’s so important for us to help customers identify with what their future needs may be.  Not only with their financial needs; but with their protection needs as well.  Here are a few things to consider when offering Payment Protection that will help you bring your Customer “Back to the Future”!

  • Bring the Future to the Present: ask questions such as, “What would happen to the future of your loved ones if death or disability happened to you?”


  • Bring the Past to the Present: ask questions such as, “Have you ever experienced a situation where you were forced to make a decision as to which bill might need to be paid, or not paid one month?”


  • Tie dollars to the situation: A great question to ask might be, “What would happen if your employer reduced your income by 40%; what things would you be forced to eliminate.”


  • Make it real: After asking the questions above, add, “Could that really cause a strain on the family as well as additional stress on yourself?”


  • Make it personal: If the loan is for a vehicle ask this:  “In the event of your death, who should we send the vehicle title to?”  So when you offer Payment Protection, you can tie that back with, “in the event of your death, we will send the title to (whoever they named).”


If we don’t ask these tough questions, how will we feel when they do have a disability or if death occurs and the family loses the primary wage earner’s income?  Our job is to make it as real as possible, put them in the scenario, and let them identify with the negative outcome for themselves and their family if they weren’t protecting them.

Get your customer thinking about the Future, and how the decision they make now could have either a great impact or negative outcome.                    

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