Life Stage Financial Planning and Needs-
Based Selling
This module will help you assess your client's life stage and the financial priori es associated with it.
This will let you plan accordingly and help make your client's vision of a Brighter Life a reality.
Learning Objectives
Introduction
LIFE STAGE PLAN N IN G
Life Stages
Money for Life
N EEDS- B ASED SELLIN G
Needs-Based Sales Cycle
SUMMAR Y
Summary
KN OWLEDGE CH ECK
Knowledge Check
ACH IEVEMEN T B ADGE
Congratulations!
DOWN LOADAB LE H AN DOUT
Downloadable Module Handout
Lesson 1 of 9
Learning Objectives
By the end of this module, you will be able to:
1. Describe life stage financial planning
2. Describe the needs-based sales cycle
Lesson 2 of 9
Introduction
This module covers the two elements of the Brighter Life Approach, Sun Life's unique method of financial planning,
something all of our advisors must take to heart.
Life Stage Financial Planning
At Sun Life, financial planning is based on different life stages. We want our clients to realize that goals and
concerns change throughout our life me. Thus, the vision of a Brighter Life also changes as we go from one life
stage to another.
Remember that Life Stage Financial
Planning does not use age as an indicator.
Rather, we put emphasis on themes and
priorities.
The Four Life Stages
Acquaint yourself with the four life stages. We will discuss each in more detail later on.
Flip each card to learn more.
Building independence and
confidence
Prioritizing family above all
Nurturing my health and
wealth
Ensuring lasting golden years
Complete the content above before moving on.
Needs-Based Sales Cycle
Financial advisors use this map to help clients achieve a brighter life. The Brighter Life Approach to financial
planning uses this selling process in conjunc on with life stage planning.
Next: Life Stages
How can you determine your client's life stage? Do you know which one you are at?
LEARN MORE
Lesson 3 of 9
Life Stages
Watch this video to learn more.
Complete the content above before moving on.
To review...
Match the theme/mantra to the corresponding life stage.
Building independence and confidence;
Ge ng Started
Me, myself, and I
Family needs are of the utmost
Moving Up
importance
Nurturing my health and wealth Preparing Ahead
Ensuring comfortable golden years Leaving a Legacy
SUBMIT
Complete the content above before moving on.
Reflection
Using what you have learned, at which life stage do you currently belong?
Next: Money for Life
How can you more easily find clients and close deals?
LEARN MORE
Lesson 4 of 9
Money for Life
(If you are on a slow internet connec on, this sec on may take a few moments to load. Thank you for your
pa ence.)
Complete the content above before moving on.
Review the full Money for Life chart above or use the link below to
download a copy for future reference.
Click the image to enlarge.
Money for Life Chart.pdf
251.3 KB
C O NT I NU E
This is where you come in as a financial advisor. It is your job to help your
clients identify their financial needs and recommend solutions appropriate to
their life goals.
Use the Money for Life graphic as a guideline as the patterns it presents are
not fixed. Life events and goals vary between individuals. As an advisor, you
must listen carefully, helping your client make informed decisions.
It is your job to CREATE, IMPLEMENT, and REVIEW your client's financial
plan.
C O NT I NU E
To review...
Match the descrip on to its need.
Money for expenses arising from the
Emergency Fund
onset of sudden unexpected events
Money to protect you and your family
Income Protec on
against un mely death
Money to cover medical expenses Health Protec on
Money for all short-/mid-/long-term
Saving for Milestones
saving targets
Money for comfortable living during the
Re rement Fund
Golden Years
Related to protec ng or transferring of
Estate Transfer Fund
wealth/assets
SUBMIT
Complete the content above before moving on.
Next: Needs-based Sales Cycle
Is there an easier way to find clients and close deals?
LEARN MORE
Lesson 5 of 9
Needs-Based Sales Cycle
Click the hotspots to learn more.
Prospecting
Seeking poten al buyers of your products - It is a process of looking for people to see and talk to and to eventually qualify.
Approach
This is the process of obtaining the prospect’s consent to see you. In essence, it is SETTING AN APPOINTMENT. The objec ve is
to secure an appointment under favorable condi ons.
Needs-Based Sales Presentation
We follow the needs-based sales presenta on process where we understand our clients first before recommending a
product solu on. This is our way to shi from product-pushing to a client-focused approach.
Closing & Handling Objections
Objec ons can happen at any step in the sales process and should be handled accordingly. It is an integral part of selling
because they can actually be buying signals. Last but not the least, closing is anything that you do that will lead the client to
take ac on and purchase a plan.
The needs-based sales cycle is the map for financial advisors in helping clients achieve a brighter life. You can
minimize the difficulty and challenges, by following the four ac vi es. These ac vi es are linked together to form
one endless cycle that would make you a successful financial advisor.
Complete the content above before moving on.
We will discuss the ac vi es of the cycle more extensively when Life Stage Financial Planning is integrated with the
Needs-Based Sales Cycle into the Brighter Life Approach in the next module.
Next: Summary
Review the key takeaways of this module.
LEARN MORE
Lesson 6 of 9
Summary
Click each key concept to review.
Life Stage Financial Planning
In Sun Life, we do financial planning by life stage. This recognizes the fact that an individual's goals and concerns vary over
the course of a life me and that the vision of a Brighter Life differs from one life stage to another.
In the Life Stage Approach, we don’t use age as an indicator but rather we go by the theme or priority.
Needs-Based Sales Cycle
The needs-based sales cycle is the map financial advisors use to help clients achieve a brighter life, minimizing the difficulty
and challenges of selling by following four easy steps:
1. Prospec ng
2. Approach
3. Needs-Based Sales Presenta on
4. Closing & Handling Objec ons
The Brighter Life Approach
The Brighter Life Approach is the integra on of Life Stage Financial Planning and the Needs-Based Sales Cycle.
Complete the content above before moving on.
Next: Knowledge Check
Let's see how much you've learned.
LET'S GO!
Lesson 7 of 9
Knowledge Check
Let's see what you have learned.
Ques on
01/05
Which Life stage describes priori zing your family above all, prepares for child educa on and needs
to get a life insurance to address uncertain es?
GETTING STARTED
MOVING UP
PREPARING AHEAD
LEAVING A LEGACY
Ques on
02/05
We are no longer referred to as insurance agents but as financial planners – and to differen ate our
services, we must put our clients’ needs first. They can only achieve financial security by helping
them create, implement and review their financial plan. Thus, in Sun Life, we are more specific with
our financial planning approach because we do it by:
PRODUCT PUSHING
LIFE STAGE APPROACH
OFFERING THE CHEAPEST PLAN
OFFERING VARIABLE UNIVERSAL LIFE PRODUCTS
Ques on
03/05
We follow this process where we understand our clients first before recommending a product
solu on. This is our way to shi from product pushing to a client-focused approach.
PROSPECTING
APPROACH
NEEDS-BASED SALES PRESENTATION
HANDLING OBJECTIONS
Ques on
04/05
It ensures that you know where your money is going. It also means that we spend on the things
that we need and make us happy while scrimping on the things that we do not value as much.
BUILDING AN EMERGENCY FUND
CREATING A CONSCIOUS SPENDING PLAN
SAVING FOR LIFE'S MILESTONES
PREPARING FOR RETIREMENT FUND
Ques on
05/05
It ensures that you have a liquid fund to draw from should an emergency arise like sudden job loss,
hospitaliza on, calamity, etc.
INVESTMENT FUND
CREATING A CONSCIOUS SPENDING PLAN
BUILDING AN EMERGENCY FUND
PREPARING FOR RETIREMENT FUND
Lesson 8 of 9
Congratulations!
You have completed Module 4.
You have earned a badge!
Next: Downloadable Handout
You may download the handout for your review.
DOWNLOAD
Lesson 9 of 9
Downloadable Module Handout
Click the PDF document to download the module handout.
Life Stage Financial Planning and Needs-Based
Selling.pdf
8.2 MB
Click the EXIT MODULE button to exit. You may proceed to the next module.
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