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Submitted by: Ted

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First off, I would say this is not the best market to work in. It can cause serious persistency(lapse)problems. However, one of the ways I overcame the lapsation problem was to actually set up an appointment with the young single prospect and his parents, usually at the parents house. Most parents were supportive of this and appreciated the fact that I took the time to do this. It also established credibility with them. They also were glad to see someone take an interest in their childrens personal financial future. The one most important issue here is when I closed on the young prospect, I would say something to the effect, "I am sure if you run into a financial problem, your folks will help you through any difficult times." And again the parents usually agreed to that, and this allowed me to call them if there was canceled premium. And many times I actually set the premiums up to come out of the parents checking account, by getting agreement that prospect can pay parents at end of each month. Parents usually agreed so they could keep watchful eye on policy and make sure it stays in force. Additionally I ended up selling the parents something, and getting them as clients. Hope this helps..Ted

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