Last month we saw how, although by and large people want to choose rationally, most of the time they end-up choosing emotionally. Now let us see what higher emotional pulls we can trigger to turn their minds to buying Life insurance.

How do people choose? Human beings make choices; they make choices every minute of their lives. Choices are always based on avoding pain or gaining pleasure. Mr R Gopinath takes you through the decision making process of the buyer.

A person can have an income of more than Rs 25 lakh without paying any tax. Wondering how? That is what the author calls the Magic of Family Tax Planning.
We saw how gifts can be a tool for tax planning earlier. This month we examine in detail how considering the family as a unit helps in tax planning.

The need is the trigger that makes a person look for solutions to fulfil it. For instance, hunger is the need that makes a person search for food. The need for being respected puts a person on the path of searching for things that will show him in a good light to others. So, it is primarily the need that triggers the action of searching for solutions.
But once a few choices that will fulfill the need are spotted, further movement will be influenced by ‘Wants’. That is why people involved in marketing need to understand both the ‘Needs’ and the ‘Wants’ of the prospect.
Wants are mostly governed by the surroundings of the prospect like culture, group, trends and fashions

Have you come across situations where a few of your prospects readily agree to your recommendations and Life insurance policies from you immediately, but some others go on postponing their buying decisions, and yet others outright reject your recommendations? Confused or dejected by this? Don’t worry, this happens to every Life insurance agent, says Mr R Gopinath in his monthly column.