By Edward Cassidy, managing principal, Saybrus GroupInc.

For property-casualty agents, cross-selling life insurance canbe as simple as starting a conversation. Clients already view theiragents as trustworthy and credible. Many are also looking for thesecurity and convenience of having one source for all theirinsurance needs, across product lines.

Good relationships with clients can translate directly into lifeinsurance sales, with 77 percent of clients buying from theirexisting agent, according to LIMRA's2011 To Buy or Not to Buy Life Insurancestudy.

Cross-selling life insurance also helps build client loyalty,increase referrals, diversify revenue stream and protect agencyincome, especially in a soft market.

Read related: “Saybrus' Kevin Kimbrough on Selling Life Insurance in a P&CAgency.”

Many agents already offer term and permanent life insurancepolicies to help their clients meet easily defined needs, such asincome replacement if a family breadwinner dies. However, some maybe more reluctant when it comes to helping their affluent and highnet worth clients, who typically have more complex life insuranceneeds that often encompass financial, tax and estate planning.

The opportunity is there. Nearly a third of all consumersbelieve they need more life insurance, according to the LIFE/LIMRA2012 Insurance Barometer study. But this doesn'tnecessarily mean they're buying; many stop short, put the decisionon hold or continue to gather information because they haveunanswered questions or don't fully understand what they need.

Over the past several years, the life insurance marketplace haschanged dramatically. In addition to advancements in underwritingmethodology, life carriers have made strides with innovativeproduct design, such as combination products and new and expandedfeatures such as long-term-care and longevity riders. As theproducts have developed, so have their potential uses, from incomereplacement to wealth transfer. It's also important to understandhow life insurance can fit into a family's financial, retirement orlegacy plan.

Agents already know the milestones in their clients' livesbecause they purchase new coverage or make changes to existingpolicies. These milestones, particularly those involving family,are powerful triggers for buying life insurance.

Agents also have the resources to assess the value of homes andother property, such as boats and vacation homes, providing awindow into a client's true financial situation.

Read related: “Can P&C Agents Boost Income with Life InsuranceSales?”

One simple reason why P&C agents aren't cross-selling lifeinsurance is that they're busy with their practices. It'schallenging to become proficient in another line, particularly oneas dynamic as life insurance.

But there are ways to overcome these issues. Groups such as theNational Assn. of Insuranceand Financial Advisors (NAIFA) offer professional learningcourses, practice tools and tips and other resources. Agents alsocan earn designations such as The American College'sChartered Life Underwriter (CLU), or Chartered FinancialConsultant (ChFC).

P&C agents can also partner with a life insurancespecialist, which enables them to combine their client knowledgewith the experience and knowledge of an expert. This specialist canreview the P&C agent's book of business, identifying clientswho have needs that can be addressed by life insurance solutions,and creating appropriate strategies.

Here are six steps to get started:

1. Find and Work with aPartner

The most important requirement is to find a partner the P&Cproducer likes and trusts. The life insurance specialist shouldhave a complementary, not competitive, practice. If P&Cproducers don't have existing relationships with life insuranceexperts, they can ask for recommendations from colleagues orconsult professional organizations.

2. Define Roles AndResponsibilities

Both parties should be clear on their responsibilities andrelationship parameters. It is beneficial to work out an agreementand commit it to paper. While not a legal document, a written planthat includes goals, expectations, and roles can preventmisunderstandings and miscommunication.

3. Identify Clients with Life InsuranceNeeds

Collaboratively review the P&C producer's client base,looking for clients with needs that can be met with life insurance.While some needs are apparent, such as income replacement, thereview can also help with holistic assessment and planning,particularly for high-net-worth clients. For example, if there areexisting insurance policies, are they meeting the client's needs?Can you address multiple coverage needs with the same dollars, suchas life insurance that incorporates long-term-care benefits? Canyou employ tax-efficient strategies for supplemental retirementplanning?

4. Conduct Joint Client Meetings

The most effective approach is for both the agent and lifeinsurance specialist to meet with the client. While the lifeinsurance specialist is providing valuable information, the primaryrelationship is between the agent and the client. A detailedneeds analysis of each client is perhaps the most essential part ofthe sales process. The P&C producer's understanding of theclient's situation, based on insured property and other coverages,is a great starting point for an in-depth conversation about theclient's personal needs and objectives.

5. Implement Life InsuranceSolutions

The life insurance specialist will propose solutions, which mayor may not include life insurance, to address the client's needs.Once the client has reviewed the options and come to a decision,the life insurance specialist can help identify the best productbased on key features and underwriting considerations. Thespecialist will also help facilitate the case to issue, beginningwith tasks such as completing the application, making sure medicalexams and records are ordered, and acting as carrier liaison, ifneeded.

6. Evaluate Progress Toward Goals

Establish a schedule for periodic assessments of the client baseto evaluate progress toward goals and continue to identify lifeinsurance opportunities with newly acquired and long-term P&Cclients. These can be done quarterly or on whatever schedule makessense.

It is also important for the agent and life insurance specialistto build an annual review process for the clients with whom theyhave worked. A yearly look at clients' life insurance policies canhelp ensure changing needs or issues with policy performance areaddressed.