How to Get and Close More Sales

To be an effective salesperson you need to be able to get in front of people, share your product and help people meet their needs by possessing what you have to sell. Do not make the mistake of thinking that you only need to be in front of people who have expressed a prior need.…

To be an effective salesperson you need to be able to get in front of people, share your product and help people meet their needs by possessing what you have to sell. Do not make the mistake of thinking that you only need to be in front of people who have expressed a prior need. Such thinking can kill your Insurance sales career.

Why? Because there is a small number of people who express a need for insurance. Given the number of agents out there trying to meet with those people it; s fair to say that these potential clients are being bombarded. I know it makes sense to go after the warm crowd (those who will not hang up initially if they initiated the call or sent in a mailer). These actually are good leads. The problem for most agents is, there are not enough.

If you happen to work for an Insurance company that has writing managers it; s fair to assume that they will be dealing with the hot and warm leads that come to your company. These include call ins, walk ins and leads where the person who sent it in has an immediate desire to see an agent. But for the average agent you must be ready to find ways to reach people without waiting for those types of leads.

When you purchase leads those leads typically are sold to 3 or 4 agents at the same time you get them so you are racing to get the call in as fast as possible. Lead companies tell you upfront they sell these same leads to multiple agents as a way to make optimum profits from each lead they generate. Is it fair? No. But is it reality? Yes.

If you want more sales you have to convert the group of people who have not expressed a desire to get insurance. This means we have to get people to first look at insurance, then listen to the benefits, then hear a sales close and make a decision. Much like the grocery store which never advertises all the products they have to offer but they advertise enough to get people to come in and see what they have to offer. We have to do the same thing.

I wish I could offer you an easy way to make money when you are in Insurance sales. But that would be a lie. Insurance sales is hard and in order to make it, you have to find new prospects.

I wish you well in your search.

The Role of an Independent Insurance Agent

As an independent insurance agent, your focus is serving your client – helping them find the insurance policy that fits their lifestyle, needs and budget best. In order to do so, you must listen and understand your client. You are not necessarily determining their needs and finding the policy that is best for them; your…

As an independent insurance agent, your focus is serving your client – helping them find the insurance policy that fits their lifestyle, needs and budget best. In order to do so, you must listen and understand your client. You are not necessarily determining their needs and finding the policy that is best for them; your job is more than that. You need to listen and understand your client's needs, educate them about insurance products and help them make educated decisions about the policy they need to protect their life. You want to educate and empower them to make the best decision about what insurance products they need. Think of it this way. If you market and sell only auto insurance, you are only selling to people who know they need auto insurance. But, if you create a market for your agency with all of your insurance lines, educated people on how they need insurance for each investment they own, they will see that they need more than just the auto insurance they thought they needed. Educating your clients on insurance is the best way to expand your agency and show people the lines of insurance that they really need, but had no idea about.

Some ways to educate your clients, expand your market, and brand your agency are:

1. Create A Website- A website that is well designed and full of information is the best way to educate people about your agency. In today's world, every business is on the internet; it is how people shop for things. Once you have created a website that is attractive, contains pictures, has a quote form and full of insurance information, you must maintain it. Keep your website up to date with relevant information and announcements. Also, an insurance blog should be kept up to date each week, focusing on an insurance topic that your clients would enjoy to read. Your blog will allow people to find you your website easily and it helps you establish yourself as an authority.

2. Social Media – On social media posts, there is not a need to go into great detail on insurance topics; use your blog for that. However, leave small insurance guidelines on your personal and / or agency accounts. It is best to create a Facebook / twitter / etc. business profile and “like it” from your personal page. You can have interactions between the two profiles so your clients will be able to see a face behind the name of your agency, and your personal friends will be able to see your professionalism and insurance knowledge. Perhaps your friend might like something you post, his cousin sees the status and you gain a client. It has happened and it will continue to happen. Your agency is spreading by digital word of mouth.

3. Advertise to People – The BBB, neighborhood crime watch and general town meetings are a great approach to introduce yourself to the community. Typically you could sponsor the refreshments and do a quick 2-minute introduction of your agency (remember, you will not be selling, you should be educating).

4. Community Involvement – Sponsor a booth at the neighborhood carnival or buy an ad in the high school football program. Advertise your agency in the community so you are known. If you have a booth and are able to distribute materials, make sure to include a line that points to your blog / website for reference.

5. Drive traffic to your office – Sponsor a high school car wash in your office parking lot. If a client comes in for a 10 minute consultation, they get a free car wash. Be sure to donate money to the organization that worked the car wash and include your branding on anything that is given out.

The Difference Between Insurance Brokers and Captive Agents

Very few people take joy in the certainty of death. This also goes for the idea that an accident death could occur at any time. If there are individuals who rely on you and your earnings, neverless, it is one of those unpleasant things that you have to take into consideration. It's easy to see…

Very few people take joy in the certainty of death. This also goes for the idea that an accident death could occur at any time. If there are individuals who rely on you and your earnings, neverless, it is one of those unpleasant things that you have to take into consideration.

It's easy to see the sense in purchasing life insurance, even though it can be an unpleasant thing to think about. Even those without dependents still must think about funeral expenses if something tragic were to happen.

The question then arises: Do I need a life insurance agent or broker?

The first thing you need to understand is that there is a difference. Some life insurance agents only represent one company. Say for instance company A. This agent will only and can only work with one company. He is considered a “captive” agent.

An insurance broker is different. A broker is an agent who represents any number of insurance firms. He is not bound to any one individual company, he can go out and use any company that will allow him to.

Often, many clients who have interests in buying insurance policy will only work with one insurance agent directly. The problem is, if they are not aware that the agent is a “captive” agent, they might be getting less options than they had hoped for.

Seeing that an agent's earnings are primarily on commissioned sales, he or she will most of the time want to seem as if he is providing one stop shop for all of the client's insurance needs. However, does this necessarily mean you are getting the best deal possible?

The Benefits Of A “Captive” Life Insurance Agent

Now that you understand the difference, the question arises. Are there benefits then to a captive life insurance agent. The answer is yes, in some cases.

Captive agents usually work for companies that will only take on captive agents. Meaning that most insurance brokers can not use the captive agency. Often times, companies like New York Life , Mass Mutual, and Guardian will deal mostly with captive agents, agents that only represent their company and no one else.

This is not always 100 percent true, however, it is often true.

When Are these Companies Good

Most of the time, these captive agencies are specialty companies. The three that I mentioned above deal is large quantities of whole life insurance, and other premium type of insurances. These types of insurance have many different purposes, and usually take a professional to structure properly.

In these situations, captive companies can be a great benefit to you as a consumer.

When Does An Insurance Broker Make Sense To Use?

There are other types of insurance, such as term insurance, that are more or less a commodity. This is where a life insurance broker will shine.

The independent agent is generally the perfect choice, as he / she will have many options to choose from, selecting from a database of insurance companies to find you the best deal.

In this situation, a broker will have the upper hand on a captive agent. Captive agents, who deal almost exclusively, will not have the benefit of multiple companies to use. They are stuck with their companies product, which often times for these commodity types of products will be more expensive.

In these types of situations a broker is going to usually have the better decision.

Do not Be Afraid To Shop Around

There are times when it is good to shop around, and other times when it is not.

If you are buying a specialty product-like properly structured whole life insurance as an investment, key man insurance policies, or asset management type products-then you should probably go with brains over brawn.

Having an agent that knows what he is doing is going to save you more money in the long run. Saving a few extra dollars to later find out there is mistake can be extremely costly. You could end up losing years of premium payments, or even leaving your heirs with a significant tax bill.

In specialty situations, use someone who knows what they are doing and it will be worth the cost.

Shopping around in these situations may not be the best idea.

However, with other commodity type insurances-term insurance being the primary type-don't be afraid to talk to more than one agent. This could not only save you money, but the hassles of dealing with a pushy agent.

Find the best agent that fits you well. Do not be afraid to say “no” to someone and move on if you feel they are being pushy or they do not know what they are talking about.

The more you understand about what you are buying the better your chances of getting what you need, and not what you are sold.

How Payment Protection Insurance Compensation Benefits People?

Payment Protection Insurance (PPI) also termed as loan repayment insurance, loan protection or credit insurance is a loan or debt that you can get from an insurance company in case of any incident, loss of job or if someone fails to earn an income anymore due to some disability. The payment protection insurance policies are…

Payment Protection Insurance (PPI) also termed as loan repayment insurance, loan protection or credit insurance is a loan or debt that you can get from an insurance company in case of any incident, loss of job or if someone fails to earn an income anymore due to some disability. The payment protection insurance policies are usually purchased to insure all kinds of consumer loans that mainly include home mortgage loans, car loans, loans from finance companies as well as the insurance relating accident, life insurance, disability insurance and many more. The main purpose of PPI is to protect you or your family from an influence that most people have to face after an accident, unemployment, critical illness or death. Many companies offer various types of PPI Compensation to benefit the employee as well as their family.

Types of Payment Protection Insurance Compensation And their Benefits

There are different types of payment protection insurance compensation. These PPI compensation can greatly benefit the people in unexpected circumstances. Some of the most predominant types along with their advantages are given below:

  1. Life Insurance: Life insurance is one of the most widely used type of PPI. It is typically used to ensure that the mortgage of your house will be paid off even if you die or in case of your death, you want to leave behind a lump sum amount for your family in order to save them from other difficulties. The life insurance guarantees further two main types that include term assurance and whole of life policies. The former one is usually used as it covers a fixed period for example 10 years and is paid out if a person dies during that period while the latter one lasts for an indefinite period and is paid out when a person dies irrespective of the time period when the death occurs.
  2. Mortgage Payment Protection Insurance ( MPPI ): MPPI assists you in obtaining mortgage payments at the moment when a person is incapable of doing work due to illness, accident or redundancy. This insurance payment is paid for a limited period. MPPI also helps a person in covering the monthly bills and mortgage.
  3. Income Protection: Income protection previously known as permanent health insurance is paid by the insurance companies when one is incapable of performing the tasks due to accident and illness. Income protection is further categorized into long term and short term. The long term income protection is paid out till retirement, return to work or death whereas short term income protection is paid out for a fixed period between a period of one to five years. This type of PPI assists a person in getting back to work if the person is made redundant due to sickness.
  4. Critical Illness Cover (CIC): In critical illness cover (CIC), the patient who is diagnosed with a severe disease such as cancer, heart stroke or heart attack, loss of limbs and multiple sclerosis is paid out in cash lump sum. This amount helps a person to pay for the medical treatment, specific equipment needed due to infirmity, to pay out the mortgage or for any other mobility aid.
  5. Private Medical Insurance (PMI): Private medical insurance (PMI) also named as health insurance is offered for private treatment if a person gets ill. This insurance includes consultation, surgery, nursing and hospital care. However, it excludes incurable diseases, pregnancy, addiction to drugs and cosmetic surgery.

Tips for Using the Internet to Find Final Expense Insurance Leads

If you are an agent looking to sell final expense policies, you need to adopt multiple approaches to find potential clients. The internet is a very fruitful resource to find final expense insurance leads. Here are some tips that can help you make the most out of the web. How to generate final expense insurance…

If you are an agent looking to sell final expense policies, you need to adopt multiple approaches to find potential clients. The internet is a very fruitful resource to find final expense insurance leads. Here are some tips that can help you make the most out of the web.

How to generate final expense insurance leads online

In order to make the most of the Internet to generate leads, you need a website or a blog of your own. This way, you can divert potential clients to your domain and plan strategies to convert them into your customers.

Paid ads, PPC or Google AdSense

Paid ads, posted in strategic places, can help you get good leads. You need to identify potential websites that your target audience frequent and post your ads at such sites so that your ad gets more relevant clicks. You will get a higher ROI this way. You can place your ads on major search engine pages. When a web user types a search phrase that includes the words 'final expense insurance', your ad hopefully turns up on the page. However, you need to bid for these ad places and be smart about the keywords you use.

How does this help? When a person sees your ads and visits your website, you can present them with a short and simple registration form to collect their email address, phone number and other details. This way, you can collect information about potential final expense insurance leads.

Co generation

In the co-generation method of lead generation, you place your ads on websites that are not your competitors but are related to insurance. When people visit these websites and fill the registration form, they are presented with your offer as well. If prospects like your offer, they visit your website through the link provided in the offer content and sign up for your service.

Whenever a prospect signs up with you in this manner, you pay the host website. You only pay for visitors who register on your website and not for every visitor who visits your website. This kind of lead generation method is called cost-per-action.

Social media

Social media provides fertile grounds for generating final expense insurance leads . You can use Facebook, Twitter, StumbleUpon and other social media platforms to contact and interact with potential clients. You can create communities and join existing communities to identify potential customers. Concentrate on building a relationships and develop trust.

Guest blogging

Offer to post articles on relevant blogs. Follow the comments that readers post on your article. You can reply to comments and develop a conversation. You can divert readers to your website through a third party blog. These readers are more likely to turn out to be productive leads.

Final expense insurance is one of the most useful policies that people can buy. The policy can prove to be very useful even those who are covered by other life insurance policies. The main reason is that final expense insurance, also called burial insurance, is released within 24 hours of the death of policy holder. Other life insurance policies take up to 45 or 60 days to release the money. In this way, a small burial plan can help the family get through tough times initially. Marketing the policy intelligently is what will win you good final expense insurance leads.

How To Think Like An Underwriter – Part 2

Here are some additional scenarios that I have seen quite often in my experience working with agencies in the past. Have you wondered why your underwriter requests for more information when you stated that the insured is “retired” on an umbrella application? Have you ever been frustrated by carriers that have fairly liberalwriting on some…

Here are some additional scenarios that I have seen quite often in my experience working with agencies in the past. Have you wondered why your underwriter requests for more information when you stated that the insured is “retired” on an umbrella application? Have you ever been frustrated by carriers that have fairly liberalwriting on some risk variable (brush or wind or coastal exposure for example) and then you complain a few years later when you have to “move” a large number of clients because they are no longer eligible for that carrier? Have you ever ordered coverage on a home for example and when the inspection came back with a Coverage A wildly different from what you quoted? In that case, when you were able to determine that the rating variable differences from what you quoted were based on faulty information from the inspector; Did you have a difficult time understanding why the underwriter would not just “fix it?”

If you answered “yes” to any of these questions, please read on. Bottom line, if you and your staff can master the following thought processes, your clients will be placed properly, you will save time in the long run, your client retention will improve and your agency will be more profitable-guaranteed!

How to develop anwriting mindset:

– Retire the concept of – Give us XXX number of minutes and we'll save you XXX number of dollars. That's a “Quoter” mindset. You need to work on a risk until the risk is analyzed. That may mean a few minutes to multiple hours. When you thoroughly understand the risk characteristics of your prospect, you will then be prepared to place that risk with the carrier that has an appetite for those risk characteristics. You will not need to go back to the client multiple times with additional questions because you already understand the risk. Yes- this means you will occasionally have to deviate from the questionnaire that you use to get the information to be able to quote a risk. Quoting and underwriting is not the same thing. You will need to listen to the answers to the questions you are asking and think beyond what is being asked. Ask “open-ended” questions and let the prospect talk about themselves. The key here on the personal lines side is evaluating “lifestyle” and on the commercial side-the scope of the operation. Let me give you a perfect example of what I am talking about. The prospect calls to insure a retail photography shop. The agent writes it on a Business Owners Package (BOP). The insured has a million dollar GL loss. It was not until the loss that it became known that the insured rented out extremely large cranes to film studios to film movies. This type of exposure is certainly not contemplated by a BOP policy. This is a true story. Every client / every business is unique. That's what keeps our jobs interesting and challenging.

Read more in part 3 of this series.

How To Think Like An Underwriter

Have you ever thought what it takes for you or your staff to move from being an “Insurance Quoter” to a true “Insurance Professional?” I have worked on the carrier side of the business for 30+ years. I started as an underwriter and moved to sales, working with agents for most of that time. One…

Have you ever thought what it takes for you or your staff to move from being an “Insurance Quoter” to a true “Insurance Professional?” I have worked on the carrier side of the business for 30+ years. I started as an underwriter and moved to sales, working with agents for most of that time. One thing that never changed is that once an underwriter- always an underwriter, and that thought process has served me very well over the years. I think the current general lack of training on the agency side is taking a huge toll on an agents' ability to be successful.

An underwriters' job is to analyze the variables that make up the risk factors of a potential client to see if the characteristics fit within the profile contemplated by the premium being charged and expertise of the carrier. In Personal Lines, rates are strictly regulated by the state, so carriers have to file rates based on what risk characteristics they want to insure. Rates can not be diverted to fit the risk. This is different in Commercial Lines where the risk characteristics can be taken into account to determine the proper rate for the given risk. In either case, the individual variables that make up a given risk need to be known by the underwriter to be able to make an informed decision. By first analyzing the risk and anticipating what information the underwriter will need to make their decision; This is the first step to starting to think like an underwriter.

Before going any further down this path, maybe you're asking yourself; why should I want to think like an underwriter? I am an agent. My job is to identify prospects and the Underwriters' job is to determine if they qualify. Sure- that works if you're an “Insurance Quoter!” Moving to the next level of being a true “Insurance Professional” takes a lot more effort, but the rewards are worth the extra effort. The reward is clients who value your opinion and expertise. The reward is having a reputation in the small world of insurance of being ethical and working in the best interests of all parties involved. These rewards are priceless if you are racing to build a business for the long-term.

I'm going to outline some pretty common scenarios I have seen over the years and how your agency can benefit by thinking more like an underwriter. Have you ever had an underwriter come back to you with an additional list of questions due to crossing a reinsurance threshold for example? Do you find yourself having to go back to the insured multiple times to get all of the information that your underwriter needs? Embarrassing is not it?

Please read on to part 2 of this article.

The Causes of Objections When Selling Insurance

It is an important fact in human nature that each person's mind tends to construct and live in its own mental world and to resist invasion. Here, there exists in most people a strong predisposition to object to proposals which they think will commit them to an unaccustomed course of action, or which will necessitate…

It is an important fact in human nature that each person's mind tends to construct and live in its own mental world and to resist invasion. Here, there exists in most people a strong predisposition to object to proposals which they think will commit them to an unaccustomed course of action, or which will necessitate a rearrangement of ideas.

The person who is being solicited for any sort of proposition almost automatically takes a defensive attitude. The more experience a person has had with salespeople, the more this defensive attitude is developed. In the language of the army, the more he has been sheled, the more defenses he has identified, including barbed-wire barriers, as well as listening posts.

A prospect may flatly refuse to consider life insurance, as such, because the idea does not fit in with his existing fund of experiences. But if the idea is presented to him as a continuity of the monthly check which is in the habit of giving to his wife, his mind travels over a track which leads to a “Yes” response. Remember you are the engineer who is running the train of the prospect's thought, and if the signals tell you that the train is headed on the “No” track, you must be able, through a knowledge of the undering causes of objections, to switch his train of thought so that his mind will travel on the “Yes” track.

It is, of course, difficult to determine the real basis of objections in any individual case. However, in general, they may be due to any of the following reasons:

  1. The prospects fears – probably fear of investing too much of his surplus in insurance or fear of starting something he can not finish without financial loss.
  2. Unwillingness to change his buying habits – prospect may have a certain plan that he follows in buying other commodities. He may have the habit of shopping around before he buys, and will, therefore, not close the insurance deal until he has had the opportunity to look over other proposals.
  3. Dislike for some feature of the policy – this may be due to a positive dislike or a prejudice arising from incomplete knowledge of just what the policy will do.
  4. Dislike for the agent – the agent's attitude may not be pleasant. He or she may be persistent in trying to sell a policy that obviously does not fit the prospect's needs.
  5. Incomplete understanding of what insurance will do – if the presentation of the case in favor of insurance has been faulty, the prospect may not realize the true function of insurance, and objections, due to a lack of knowledge, will arrise. The prospect may actually see no need for insurance or feel that he or she can not afford it.
  6. Some personal reason for not buying insurance – the prospect may feel that the type of insurance or the insurance program is proposed by the agent does not fit his needs. The agent may have failed to find out the actual insurance needs of the prospect, and, potentially, is not able to suggest an insurance program which will fit these needs.
  7. Fear of general business conditions – the prospect may fear a panic or hard times, assuming, of course, that in such times all unnecessary expenses should be eliminated. Such a prospect fails to see that in a panic insurance is doubly valuable. It may be the only estate left to a family if the breadwinner dies during the period of business uncertainties.

Remember this: the “best possible service to the community” rather than “the largest possible responsibilities” is the slogan under which every top insurance agent works.

The Responsibilities of Insurance Agents

Insurance agents act as the face of companies that offer coverage plans to provide economic protection against injury, loss of life, and property damage. Many individuals try their hardest to protect themselves and their property, but accidents happen. Getting protection can make life easier for individuals to have money available to cover the costs of…

Insurance agents act as the face of companies that offer coverage plans to provide economic protection against injury, loss of life, and property damage. Many individuals try their hardest to protect themselves and their property, but accidents happen. Getting protection can make life easier for individuals to have money available to cover the costs of unexpected injury or loss. Protection policies are for all types of individuals and entities including corporations and partnerships. Agents have the job of guiding people through the process of purchasing different policies, and explaining what each plan covers and how much it can provide. Insurance agents are focused on selling new policies as well as processing claims for damages from their clients. Their duty is to act as friendly and knowledgeable staff that can help save their clients money while protecting all of their assets.

All insurance agents need to be licensed by the state in order to sell policies, as well as advise individuals on coverage options. This industry generates over 300 billion dollars a year, so there needs to be a dedicated and knowledgeable team to act as a point of first contact. An expert can help a potential client identify all of the entities that need to be covered under a given policy, as well as what kind of policies would be most beneficial.

Types of Policies
Policies exist to cover your home, everything within your home, your car, as well as certain high value items you may own such as art or collectibles. If you do not own a home, renter's coverage can protect your possessions in the case of unforeseen damage or theft. Businesses also have access to options that can protect their building and equipment, as well as reimbursable them for lost profits in the case of major catastrophic events, like floods or fire.

Terms
Terms are the details that make up any given policy, and it is the duty of insurance agents to make sure each policyholder understands these rules and limitations to their coverage. These rules can include limits of the age of a person covered by life insurance, or the number of people allowed to stay in a home while it is under a certain policy. Terms also detail how payouts are handled. Certain events or circumstances may invalidate the terms of an agreement, like a sub-leaser resident in an apartment, or an uninsured driver operating your vehicle.

Pricing
Each plan has its own pricing scheme that is based on both its duration and how comprehensive its protection is. Most companies now offer discounts for purchasing multiple policies through them, such as car, life, and homeowner's plans. Some companies price plans differ based on gender, region, age, and occupation. For instance, car coverage is usually the most expensive for young men, and is even more expensive if they drive a high performance vehicle. Companies have found ways to incentivize more responsible customers by offering discounts to students with good grades, and individuals that have managed to become Eagle Scouts.

What Comprehensive Real Estate Professional Indemnity Insurance Should Cover

One of the most demanding markets today is the real estate industry. And this is because in this particular industry, client expectations are usually hard and tricky to meet. Realtors would usually find it difficult to fully determine what their clients actually want or require based on sporadic personal interactions alone. Real estate agents are…

One of the most demanding markets today is the real estate industry. And this is because in this particular industry, client expectations are usually hard and tricky to meet. Realtors would usually find it difficult to fully determine what their clients actually want or require based on sporadic personal interactions alone.

Real estate agents are also not safe from or immune to legal complaints or lawsuits filed by their clients. A lot of these buyers or clients would usually be agreeable to or happy about pretty much everything about the property and close the deal happily. However, later on, the buyers would come back to complain about how the property they have purchased turned out to be what they did not expect. Such issues can further escalate and in the end, the property investors would file a legal complaint against the realtor.

To prepare for such emergency situations and to protect their practice or company, licensed realtors and real estate companies need to have professional indemnity insurance. This particular type of insurance provides financial protection to any real estate firm or practitioner against a number of claims for alleged negligence or breach of duty which is anose from an act, error or omission in the performance of their professional services. By having professional indemnity insurance, your real estate business can still remain open and continue its operations even if a legal claim against your company has still not been settled.

Different providers of real estate professional indemnity insurance offer various kinds of coverage. And if it is your first time to invest in this type of insurance, you have to know the amount of coverage the insurance will provide your practice. Below are some of the civil liabilities that the professional indemnity insurance for real estate agents should cover:

• Unintentional defamation, including libel and slander
Breach of professional duty
• Loss, damage or destruction of any documents, files or records
• Any body or physical injuries and property damage claims acquired from or caused by a third party
• Claims investigation costs
• Unintentional infringement of another person's patent, trademark or copyright
• Any expenses incurred resulting from attendance at any inquiry

As a licensed realtor, having professional indemnity insurance will give you a certain level of peace of mind. The cash flow of your business will not be seriously affected even if you are in the middle of a lawsuit. And with the help of this insurance, starting anew after the legal battle can be made easier wherever compensation was required to be granted or not, since the personal assets of your business are fully protected.