BACAYO, JENIFER, BORJA BSBA MARKETING MANAGEMENT II

ADVERTISING WEEK 4-5

Activity

1. Life insurance is commonly an unsought product for many consumers. Conduct a research to determine commons
reasons for purchasing life insurance. Based on your research, how could you persuade an individual to buy a life
insurance policy from your company? 30 pts

Buying life insurance protects your spouse and children from the potentially devastating financial losses that could result
if something happened to you. It provides financial security, helps to pay off debts, helps to pay living expenses, and
helps to pay any medical or final expenses.

Life insurance provides cash when you need it most.

Your life insurance policy can deliver a specified sum of money when you need it. Upon your death, your family will
receive your policy payout immediately. And that death benefit is generally not subject to federal income taxes. For
example, a 500,000 policy provides 500,000 in death benefit proceeds directly to your beneficiary.

COMMON REASONS FOR PURCHASING LIFE INSURANCE

Guaranteed protection

If you have a family, a business, or others who depend on you, the life insurance benefit of a whole life policy acts as a
financial safety net. When you die, your beneficiaries will receive a lump-sum payment that is guaranteed to be paid in
full (provided all premiums are paid and there are no outstanding loans). It’s essential protection that you can count on
to be there for your loved ones when needed.

Income replacement

Imagine what would happen to your family if the income you provide suddenly disappeared. With whole life insurance,
you can help make sure that your loved ones have the money they need to help:

 Pay the mortgage

 Afford childcare, health care, or other services
 Cover tuition or other college expenses
 Eliminate household debt
 Preserve a family business

Tax-free benefit

Your beneficiaries will be able to enjoy every penny you leave them. That’s because the benefit of a life insurance policy
is generally passed along federal income tax free.

Guaranteed cash value growth

As you pay your premiums, your Whole Life policy builds cash value that is guaranteed to grow—tax deferred—and can
help meet a variety of financial goals: 

 Supplement retirement income 

 Fund a child or grandchild’s education 

 Pay off a mortgage 

  Protect existing assets 

 Establish an emergency fund 

Dividend potential
One of the benefits of purchasing whole life insurance from New York Life is that you will be eligible to receive
dividends.4 Although they are not guaranteed, when dividends are awarded, you can take them in cash, use them to
offset your premiums, or use them to buy paid-up additional insurance that increases your coverage and cash value, use
them to offset your premiums, or take them in cash.

Optional riders
There are several ways to tailor a whole life policy to meet your individual needs. For an additional cost, you can use
riders to purchase additional protection without further underwriting, to pay your premiums if you become disabled, to
use some of your face amount to pay for chronic illnesses, or to purchase coverage for your children. Your agent can
help you decide if any of these riders are right for you.

85% of consumers understand that life insurance is important, yet a mere 62% say they have it. Why is that? Life
insurance is a sensitive subject that few want to consider, however, it is a lifeline when families need it most. Choosing
the best life insurance is an emotional decision. Below I’ve highlighted the best strategies persuade an individual to buy
a life insurance policy from my company.

Focus on Flexibility

Life insurance is not a singular product. Insurance, particularly life insurance, comes in all sorts of prices and policies.

When a customer becomes hesitant, I’ll focus on the flexibility of my company can offer to them regardless of their age
or background.

Whether my customer is purchasing life insurance over 50 or they want to protect their young family, there are policies
for every situation and budget.

I’ll make sure to discuss the intricacies of life insurance and any additional action they may need to take, such as a
doctor’s visit following their application.

Remove the mystery from life insurance and present it in a clear, concise manner that customers can not only
understand but they’ll stand behind.

38% of people who have yet to purchase the best life insurance haven’t done so because they don’t know how to, or are
unsure of the best steps to take.

I’ll guide the customer through the confusing rhetoric to get to the heart of why families need life insurance.

Explaining the Benefits of Choosing the Best Life Insurance

Life insurance is one of the most important coverage someone should have, yet it’s also the least discussed. Choosing
life insurance is sensitive due to the very nature of what they’re buying.

Nearly a third of those who aren’t purchasing life insurance cite disliking thinking about death as a reason.
An experienced insurance agent understands the imperative need for empathy throughout the discussion and sale of life
insurance.

Explain the benefits of what you believe to be the best life insurance for your customers in terms they can understand.
Be hesitant of using industry terms as they will be less likely to understand and may become disengaged.

Deciding to purchase life insurance is an emotional decision. Focus on the best choice for their family and be patient.

Delve Into Payment Options

The reason most people are reluctant to purchase life insurance is because they don’t think they have the budget for it.
This is where you come in.

Life insurance policies come in all shapes and sizes and many of them are very affordable.

In fact, people without life insurance tend to overestimate its cost by three times when in reality life insurance for a
healthy 30-year-old man could be less than 13,000 for a 20 year, 250,000 policy.

A good salesperson anticipates a customers hesitance and does everything in their power to address their concerns.

Keeping Most Valuable Assets Protected

Life insurance is just one of the many ways you can protect your loved ones. What about the other facets of your
customer’s life? Their home, or more importantly, their small business?

Give them the best types of insurance for small business and protect their most valuable assets.

2. When companies use advertising to increase public awareness about social issues, they often make emotional
appeals to persuade consumers to take some kind of action, such as to make a donation. Do you think these kinds of
advertisements are ethical? Explain your point of view. 30 pts

In my observation an advertisement that has emotional has a strong impact on the viewers because it can give strong
attention. Do I think these kinds of advertisements are ethical? For me yes because donating is a kind of ethical
demonstration. by doing so, they are able to show an advertisement better to people who can challenge them to that
also so, they are more become aware of social issues and in fact it has a big impact to those who see that advertisement
to have a public awareness and it surely help the company.

3. A local department store advertised an incredible price for designer jeans. The excellent prices inspired you to visit
the store so you could stock your closet with high-end clothing. You arrived at the store when it opened to ensure you
would have a better election of the popular designer jeans. Upon entering the store, you were surprised to learn that
it did not have any of the advertised jeans. When you asked the store manager about the advertised special, she
responded that the store would not be getting an additional shipment of the designer jeans. She then showed you
some other designer jeans sold by the store at a higher price.

Questions: what would you do? Do you think the store’s advertising was deceptive? Why or why not? How can you
help prevent the store from using the same advertising tactic again? (30 pts)
I also used to work in department stores as a saleswoman. For me this tactic is often used especially on items that are
not very marketable due to its high price and that are just stacked in the store. It will be a big benefit if the item would
be sold not only in the store but also in the sales staff and I know that. for me, I don't need to stop a store from offering
me their item that is more expensive, all I have to do first is I will ask them when they will have stock of the item I am
looking for if their answer is unsure or they don’t know the second thing I am going to do here is to look for another
store that has the item I'm looking for, whether we admit it or not, we usually do it especially for shoppers you can also
find the item you want most specially in online stores you don't have to stick to just one store to buy the item you want.
The store will realize that it’s ok to not force the items that have higher price to be sold as long as they have a sales
everyday.