Earlier this year, Lincoln Financial introduced MoneyGuard II, which represented a major change to the product feature set, including the ROP provisions, underwriting classes and available discounts.
While much of the early chatter on the new product focused on these changes versus the prior version, there was not much analysis of its competitive position versus the other players in this market.
That was a problem, as forward-looking sales are seldom, if ever, based on what was available in the past. Clients almost never know that there was a change to the product.
All they know is how well today’s offering addresses their specific needs or pain points, assuming the producer is effective. It’s the producer who is overly focused on what was, versus what is.