Key points
- Product Knowledge
- Product Name
- Eligibility
- Policy Term
- Premium Structure
- Benefits & Conditions
- Documentation
- Official Product Brochure
Day 05: Product Knowledge – Know Your Product
Introduction
Product Knowledge is one of the most important skills of a Professional Financial Advisor. An advisor should understand a product before presenting it to a customer.
1. Product Name: Know the correct official name of the plan.
2. Eligibility: Understand who may qualify under the applicable product rules.
3. Policy Term: Learn the duration and relevant policy conditions.
4. Premium Structure: Understand premium amounts, payment frequency and applicable payment conditions.
5. Benefits & Conditions: Study the benefits, limitations, exclusions and conditions using official product literature.
6. Documentation: Understand the proposal process and required documents.
Practical Example
If a customer asks about a plan for children's future, first understand the customer's requirements and financial capacity. Then explain relevant State Life options using the official brochure.
Never promise an unverified bonus, return or benefit.
Today's Assignment
Select one available State Life plan.
Obtain its official brochure.
Note its name, eligibility, term, premium structure and conditions.
Prepare a two-minute presentation.
Verify any unclear information with the relevant office.
Key Learning:
Know your product. Believe in your knowledge. Earn your customer's trust.
Trainer: Khizar Warsi
SM – SLIC Jhelum Zone
Website: www.warsiesp.com.pk