Liferaft’s Quoting Tool allows you to easily price out different policy options for your client and then jump straight into the application process, prefilled out with your client’s information and policy choices. Creating a quote for your client allows you to generate their unique pricing based on age, smoking status, and location, then quickly send it to your client for their review. If your client is interested in purchasing a Liferaft policy, it is just one click to go directly from the quote to the application without re-entering all of your client’s information.
The Quoting Tool is designed to be straightforward enough to use while talking to a client on the phone, via video chat, or in person.
Many agents rely on individualized quotes as the initial sales step to show their clients how much a Liferaft policy would cost them for their desired level of coverage. Sending your client a personalized quote in a timely fashion can also help start a conversation and establish a relationship between you and your client.
Many clients are surprised by how affordable Liferaft products are. Showing your client the impact on their monthly budget right off the bat may help alleviate some of their initial hesitancy about purchasing a supplemental insurance product.
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To access Liferaft’s Quoting Tool, login to your account and navigate to your Broker Dashboard. At the top of your dashboard, you will see a “Create a Quote Button,” click that button to access Liferaft’s Quoting Tool. For additional guidance on setting up your account and logging into your Broker Dashboard, see The Liferaft Platform 101.
All Liferaft products are guaranteed-issue with no health underwriting questions, so the only information you need to know about your client to deliver accurate pricing information is their age, sex, state of residence, and smoking status. The Quoting Tool will also ask for your client’s first and last name so that if you save or download your quote, you can keep track of which quote is which.
If you would like to print out pricing information for your area for reference during events, you can download up-to-date rate sheets by the state in your Broker Portal under Sales Tools > Forms & References.
Each Liferaft product offers different levels of coverage, from Basic to Premium to Elite, for both individuals and families. These different levels and carrier options can make tailoring the perfect plan for your client complicated. Therefore, we created three prepackaged bundle options to streamline your quoting process: Basic, Bestselling, and Premium.
The Basic bundle is for clients on a budget who need protection. For example, this could be someone on a federally subsidized healthcare plan or someone who would experience financial hardship if they had to pay their full deductible or out-of-pocket maximum. This bundle includes the lowest level of Liferaft’s Accident Supplement and Hospital Supplement, with no Critical Supplement policy.
The Bestselling bundle is the most popular option sold by agents across all states. This option is the sweet spot of offering affordable and comprehensive coverage for clients. It includes the basic level of the Critical Supplement, the premium level of the Accident Supplement, and the preferred level of the Hospital Supplement.
The Premium bundle includes the maximum level of all three supplemental products for clients who want the most coverage. Some clients may prefer the Basic bundle because it is more affordable than the Bestselling bundle, while others appreciate the expanded coverage of the Bestselling bundle. Premium offers the highest level of coverage for all Liferaft products. Ultimately, it’s whatever makes the most sense for your client.
Even though Liiferaft’s Quoting Tool offers pre-packaged bundle options, you can always adjust the selections to tailor your client’s policy to precisely the level of coverage they desire or can afford. Using Liferaft’s Quoting Tool, you can modify or remove coverage options to ensure that your client is getting the coverage they need. All adjustments made within the Quoting Tool are automatically reflected in updated pricing and in the scenarios detailed at the bottom.
For tips and tricks to recommend the right coverage level, see our article on Pairing Liferaft with Major Medical.
If you know your client's major medical plan or frequently have clients with a specific plan, you can add and save a healthcare plan to see how it will work when combined with Liferaft. Click on ‘Advanced Options’ in the Product Bundles section to add a plan, then input the plan’s name, state, monthly premium, deductible, hospitalization co-pay, maximum out-of-pocket, and co-insurance percentage.
Adding the details of a major medical plan will show you and your client exactly how their Liferaft product selections will impact their monthly costs and expected out-of-pocket expenses in case of an accident, critical illness, or hospitalization.
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Many of your clients will be unaware of what supplemental insurance is or how it works. Taking the time to go over each product and how it will be useful to them during specific events will help them understand when and why supplemental insurance is important. We made it easy to do this all within Liferaft's Quoting Tool.
If you add the details of your clients' major medical plan, personalized scenarios at the bottom of the page will accurately reflect how much they should expect to pay out-of-pocket during an accident, critical illness, or hospitalization event.
You can download these scenarios and send them directly to the client for review or go over them one-by-one with your client, so they better understand the value of their Liferaft policy.
Liferaft has designed Plan Side-by-Side Flyers with similar information in a more eye-catching design for some of the more popular major medical plans. You can visit your Sales Tools in the Broker Dashboard to download a Plan Side-by-Side flyer or request a new one.
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If you're working with a client who isn't ready to proceed to the application, or if you're starting a quote for your client before you meet with them, you can easily save your quote to return to later. This way, you and your client can pick up where you left off without starting from scratch.
You can also download your quote into a pdf to send directly to your client or generate a share link so that when you meet, you can both review the same material. To get the personalized share link for your client, start by saving your quote, then visit the Quotes Table on the Broker Dashboard to copy a direct share link. This will send them to a unique landing page of their quote for them to review. This is a great way for your client's to easily review their policy and pricing information before they are ready to purchase.
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Our most successful agents share quotes with their clients to review before or during appointments, as well as generating quotes for their book of business to use as entry point to get a meeting. The shared quote link will have helpful links to their plan's Summary of Benefits and their unique pricing.
After you have made your product selections and your client is happy with the level of coverage selected, you can click ‘Proceed to Application’ to fill in the remaining information needed to apply for coverage. All Liferaft products are guaranteed-issue, and we work to keep the application short, only asking for what is necessary to issue your client their policy.
When navigating from Liferaft’s Quoting Tool to the application, you will need your client’s full name, email, phone number, address, and payment information to complete their application.
Quoting clients is an essential part of the enrollment process and we wanted to create a simple way for agents to quote their clients in bulk. Instead of quoting an individual or family one by one, you now have the option to upload a CSV that includes the client’s information such as name, birthday, and product bundle you or they see the best fit.
The steps for this process are quite simple, all you need to do is fill out a form with your name, email address, and the completed CSV, and a Liferaft team member will handle the rest!
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Agents will have the option to upload one CSV at a time that includes 25 clients maximum, and a Liferaft team member will upload and save these quotes into your portal.
Information agents will need to provide per client on the CSV:
Agents will choose a Product Bundle for each of their clients, these bundles are the same ones that are referenced earlier in this article, Basic, Bestselling, or Premium. Once all of your quotes are saved into your portal, you will be able to edit them however you or your client see fit, and that includes changing specific products or Product Bundles.
After 5-7 business days, navigate to your Broker Dashboard to find your bulk uploaded quotes. Under the In-Progress tab, click Quotes. This is where you’ll find all of the quotes that you provided in your CSV upload. From here you can resume and edit the quotes or send them to your clients who will be redirected to a landing page of their quote.
Liferaft’s Quoting Tool allows you to easily price out different policy options for your client and then jump straight into the application process, prefilled out with your client’s information and policy choices.
