This guide will educate you on the different ways to present insurance reports in Propel and the best practices for all reports and each of the default pages.
Before reviewing this guide, please refer to the case creation guide.
Video Resource
If you prefer to what a video, check out our YouTube training video on client management
Click Here to Access The Training Playlist.
How to Present with Propel
Best Practices
Before highlighting how to leverage the presentations in Propel, here are a few golden rules to know.
- Propel can be used for any case type and you can modify the page options for each presentation.
- There is no limitation to the amount of plans, carriers, plan types or coverage amounts used in the presentation.
- We recommend presenting between 1 and 5 plans to prevent overcrowding in the charts.
- Using the interactive case in your Propel account or through interactive case sharing is highly recommended due to the additional data and flexibility they offer.
Presentation Options
When you generate the report from the design case page, this loads the presentation in Propel to show to your client. Along with the viewable presentation on this page, each report has an option to generate a PDF file or interactive case link.
The PDF is recommended for printing and saving to your computer as a backup.
Case Sharing
The Share icon is recommended for sending a copy of the case to the client. Through the unique weblink generated, the client can see the same interactive report from their device. When viewed, you'll receive a notification from the client with the following information;
- When The Case Was Viewed.
- How Long it Was Viewed for.
- How Long Each Page Was Viewed.
- Total Interaction (Clicks)
- Page Interaction
To send an interactive report, we recommend using the copy URL icon. Once selected, you can paste the URL into an email to send to your client.
If you wish to add a layer of security to the link, an expiration date can be added. Also, you request additional information from the recipient before viewing the presentation. To add this, select the "Request Visitor Information" checkbox highlighted below.
Case-sharing data can be viewed on the right side of the design case page under the "Shared Case Statistics" header.
Presentation Format
Compliance Elements
All presentations in Propel will show the whitelabelled cover page. Here is where your custom logo, colours and your name will be in the presentation.
If the default report selections are used, we typically see compliance elements shown first. This includes the disclaimer and mission statement. These pages are standardized for each presentation and can be customized on the accounts settings page.
If you add a report notes document, such as a reason why letter, this will appear next, followed by the insurance needs analysis.
TIP: Use the legend options below the pie chart to toggle on and off different insurable needs. This is a great way to show clients how their needs can change.
Insurance Premium
The first default page that presents the insurance data is "Premium Schedule". Here is where you'll outline all the plans in the presentation. The Premium Schedule page will show the annual or monthly payment schedule, coverage amount, and renewable to age for each plan. If you include a description of the plan, it will show below the name of that plan on the left side of the page.
The following page is a visual representation of the data shown on the Premium Schedule page. Use your cursor, or finger on a touchscreen device, to see the values each year.
The benefit of this page is it makes the value of insurance over time obvious to your client.
Propel co-founder, Larry Kinlin, used to say to his client "Term is like a diaper. Eventually, you'll have to change it". The Annual Premium Schedule does a great job of presenting this.
The next page, "Sum of Premiums", is the most popular in Propel. Most clients want to know how much they spend at the end of the day. This chart outlines the cumulative amount spent on each option and highlights it side by side with the other examples.
Using the chart above as an example, notice how it's clear the term provides better cost value in the first few years. However, as the client gets older, there's a clear cross-over point between the term plan and the permanent options. If the client needed insurance at life expectancy, the blue and green lines provide better value.
TIP: Ask your clients what line they prefer!
Cash Value Plans
Any time you present plans with cash value, you'll have the option to show the cash value in a chart format.
Toggling your cursor over the chart will highlight the cumulative cost and cash value at any given year. The default will present the current dividend scale of the carrier you're presenting (Green lines in the chart above).
Below the chart, you'll notice a few greyed-out legend options that can be swapped or added in. This includes the guaranteed cash value and reduced cash value, using either -1 or 2%.
After presenting the cash value, you'll see a similar-looking page for the coverage amount. All noted functions for the cash value page can be used when presenting the coverage amount.
Callouts
Notice the text note in the image above? This is a callout. Callouts can be included in any chart where you'll see a "Toggle Callout" icon at the top right of the page.
Callouts are highly recommended to add in for educating your clients and supporting your recommendation.
To add a callout, hover your cursor over any of the lines at the period of time you wish to make a note. You'll notice your cursor changes to a pointer finger before you click the line.
This will bring up a pop-up window. Simply enter a brief text statement into this textbox and select save.
TIP: Selecting the checkbox "Show Tooltip Data" will add in the values of the year you selected, as well as your note.
The toggle callout icon on the right of the page will hide the note from the chart.
If you wish to delete the text or make an edit, click on the same line and year as you did to add the note.
Presentation Tables
Despite 2/3 of your clients being visual learners, you may run into clients who are analytical learners and prefer numbers and text. That's why every chart has a table option.
Presentation Summary is the most popular table option and it's a great way to summarize what you presented with the charts we highlighted earlier.
By selecting the Table-Presentation Summary option, you'll have the following data added for all the plans in your report;
- Sum of Premiums
- Total Cash Value
- Total Coverage Amount
Depending on the amount of plans in your presentation, you may see the presentation summary fit into 1, 2 or 3 pages. Also, if you're presenting 2 plans, a difference column will appear.
If your report is longer than 20 years, these pages will show in 5-year increments. To expand the table, click the plus icon to the right of the year number.
TIP: If you generate a PDF of the presentation, only the 5-year increments will be included. If you're sharing this report with a client, use the case-sharing option to provide the interaction with these pages.
The highlighted row is the target age. You can modify this in the alternate investment assumption section of the design case page.
Additional Page Options
Here are a few of the many additional page options that can be used in Propel;
- IRR Tables and Charts for Cash Value and Coverage Amounts
- Cost Per $1000 of Insurance Chart or Table
- Credit to CDA Chart and Table
- Buy-Term and Invest The Difference Chart and Table
- Alternate Investment Analysis
- IFA Analysis
Support
To learn more about presenting cases in Propel, please use the Ask Us a Question tab in Propel or the link below to speak with our customer success team!