Words and Phrases To Use (and avoid)
As we just mentioned, product complexity, the aging of America, and increased litigation, the words that you use in your vocabulary and in your solicitation and presentational material are more important than ever before.
Should you be concerned that your past included some of these words? If you have always placed the needs of the consumer ahead of yourself and followed the common sense sale practices recommended on the previous page, you are probably in good shape. All of us are trying to get better everyday; and trying to use the best, most accurate, and most compliant words is a good example of trying to get better.
Is W.V.H., Inc qualified to tell you the best words to use? No, however, your insurance company, broker/dealer, state department of insurance, and your counsel are qualified. Here are some of the words that we chose to avoid and some of the words we chose to use in their place.
Phrases to avoid:
- Heads you win. Tails you win.
- You get a percentage of the stock market gains, but none of the losses.
Words not to use |
Words to use instead |
|---|---|
| Peace of mind | Secure |
| Will | Can |
| Equity-linked Annuities | Fixed Indexed Annuities or Indexed Annuities |
| FIAs | Fixed Indexed Annuities or Indexed Annuities |
| GMWB | Guaranteed Minimum Withdrawal Benefit |
| MGSV | Minimum Guaranteed Surrender Value |
| LBR or LIBR | Lifetime Benefit Rider or Lifetime Income Benefit Rider |
| Index Gains | Possible index gains |
| Probate Advantages | Possible probate advantages |
| Deposit | Premium |
| Invest | Put or place |
| Investments | Insurance products |
| Safe | Secure |
| Index Gains | Possible index gains |
| Probate Advantages | Possible probate advantages |
| Principal | Premium |
Are there any other words that we should add to our vocabulary? Yes, potentially is a great word to use like “potentially more money.”
