The world had changed in a snap. Stores become accessible via a tap, shopping is possible with just swipes, meeting clients virtually becomes the norm. Everything was transferred online.
Committed to quality client experience and transparency, insurance companies have utilized the technology and made protection easily accessible without the usual need for a face-to-face meeting. In this blog, we will talk about the virtual selling process, and along the line the requirements needed to start up your secured future.
In this blog:
The Virtual Selling Process
The meeting will commence with the introduction of the Financial Advisor. He must present to you his license number or business card, and some company facts. Following this, it is a good courtesy that you, as a client, shall warmly introduce yourself as well. Getting to know each other is essential not only in building a rapport but also in creating a suited plan for your needs.
Since this is a professional video call, the FA might ask you for a photo or have the meeting recorded. Even so, your identity and all of the information that shall be asked of you will be treated with the utmost confidentiality. If you opt for a phone call instead, that will be considered.
The FA will then present materials or ask you questions. The presentation will take 30 minutes on average in hopes of achieving a better perspective on your standpoint. FA’s will assess you based on your age, health, financial requirement, marital status, investment risk appetite, entrepreneurial goals (proposals will differ for someone wanting to have a business and another with one already set into action), etc.
This is not an interview. Remember that is important to get to know your FA too. Discerning his capabilities and compatibility is crucial for your goals.
The Proposal
You’ve built a rapport and the FA had identified your needs, now what’s next? A proposal will be sent by email. This should happen within the call.
Review the contents and reply to the e-mail if you agree to the terms. “Acknowledging the receipt of the proposal and agreeing to the contents”, would do.
Keep in mind that the proposal is not the policy yet, underwriting will still be performed. This will determine if your application will either be accepted, rejected, or there will be certain compromises if it happens your risks are insurable but are higher than average.
Online Payment
Before underwriting, of course, you need to complete the requirements first. One of which is a copy/ screenshot/ email confirmation, or any evidence of your payment. This will also stand as your first premium.
What will happen to my premium if my policy gets rejected? It will be refunded.
Online payment channels include online and mobile apps, credit cards (not applicable for Single-Pay Premium), and other methods like GCash. This is just for your first premium, succeeding premiums can be paid via check, auto-debit, etc.
For AXA applications, navigate at the bottom of the page for accepted online payment modes.
If you need assistance at this stage, the FA will be happy to help.
Requirements
Apart from the confirmation of payment, certain requirements shall also be asked to kick-start your secure future. This won’t be gruesome! See below.
1.The online payment confirmation (refer here)
2.Clear copy of your acceptable ID (refer here)
a)For married females. The ID should bear the married name and updated signature.
b)In case the above cannot comply, submit all
i. Submit her marriage certificate and a Valid ID bearing the same name.
ii. Customary signature used under maiden name, and current signature as a married female. (Signatures in ID and application should match)
3.Clear photo of you holding your ID (both face front)
For the FA’s in AXA, a distributor declaration detailing information from the client will be sent to the insurance company.
The Call-out (AXA)
By this point, everything is polished between the parties of the distributor (FA) and the client. We are just waiting for the underwriting process to accept your application and the company to issue your policy.
The distributor will advise you to expect a call from an AXA Contact Center agent following the issuance of your policy and will welcome you as a valued partner. Use this avenue to address further questions.
Thank you.
RELATED BLOGS:
What to ask your Advisor Before Signing That Contract
Insurance: The Timeline
Diksyun-NARYO!
What services do you need? Check my homepage for forms you can fill out if you want a thorough Financial Needs Analysis to plan for your life’s goals.
Want to be a financial advisor? If financial freedom and literacy while building your dreams sounds great to you. It might be the career you’re looking for. There’s also a form there for you.
Be a valued partner. ‘Til next time.
Online Payment Options
Acceptable IDs
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