We can probably all agree that lettuce, as a product, is acommodity. If there is a head of lettuce sitting on your kitchencounter, it could have been purchased at any store, with anyprovider's brand name, and there is nothing to differentiate itfrom another head of lettuce of equal size andfreshness. 

So when a question like “What's the price of lettuce today?” isasked, the implication is that the price of the head of lettuce isthe differentiating point for a consumer. 

That takes us back to our discussion about trade-ins from lastmonth. 

Is replacement of voluntary benefits always a good idea? Ofcourse not.

I recommend presenting clients information on three aspects ofproduct value to the customer: benefits, price andservice. 

First, are the benefits of various products the same ordifferent—and, if different, is there a material advantage to oneof the products? Anyone who has compared disability products,especially long-term disability products, knows that smalldifferences in the definition of disability can make a bigdifference in product value to the insured. Nuances in provisionscovering partial disability, rehabilitation services, offset ofbenefits with external sources of income, the earnings test, trialwork days during the elimination period, and many other provisionsare very important.

Price comparisons are important because  people want toknow the bottom line and—all else being equal—will gravitate towardthe low-cost options. 

Third, it's important to keep in mind that you cannot separateproduct from its supporting process—product service. This is oftenthe toughest item to compare because it tends to be less black andwhite than benefits and price. This is where your experience with acarrier bears a great deal of weight.

Finally, the financial ratings and brand history of theinsurance companies should be included. 

The purpose of comparisons in replacement or take-oversituations are often viewed as a way to convince the audience thata change is good, whether this good change reflects betterbenefits, lower prices, or improved service. Our products are moredifficult to compare than heads of lettuce. Our job in providingcomparisons should be to help customers understand why our productsare valued assets and not simple commodities.