Posted and John F. Carroll
Selling life insurance is hard.
It’s also necessary. Because unlike other lines of insurance people are required to buy…
Life insurance must be sold.
People won’t buy it on their own and a website or an 800 number can’t replace an agent.
A lot of agents tell me prospects don’t see the value in life insurance. They don’t want to talk about it. They don’t want to hear about it.
Of course they don’t!
Nobody wants to think about dying! Our brains are hardwired against it.
But it’s your job to make prospects think about it so they can make smart decisions to protect their family before it’s too late.
I don’t have any magic bullets for you.
Sorry, but there’s no secret tips here to make people love life insurance because I don’t live in a fairy tale and neither do you.
However, you will find a bunch of sales ideas to help you get prospects in the right frame of mind to understand the value of life insurance and feel good about paying money for something that is a lot easier to just ignore.
None of these ideas will make your job simple and you’re probably already doing many of them.
But if there’s one or two ideas in this list that can help you sell more life insurance then I’ll sleep well tonight knowing we helped make more families safe.
Here are some ways to help prospects see the value of life insurance:
1) Strike At The Right Time
There are a few times in someone’s life that they’re particularly open to having a discussion about life insurance.
If you find prospects based on their current life situation you don’t have to work as hard at selling the value of insurance.
Think about creative ways to find people who:
2) Don’t Call it Life Insurance
Call it mortgage protection, or something else like income protection, family coverage, tuition guarantees… Whatever.
The point is that people have a typical reaction to hearing the word life insurance, and if you want to get their attention you need to use words they’re not as familiar with.
Also, it’s great to emphasize what’s being actually being insured. After all, life insurance doesn’t really do much to protect your own life!
3) Let the Math Tell a Story
Have prospects figure out how much money their family would have to live off each month if they didn’t have life insurance.
How much money would be coming in if you died and there were no insurance?
Exactly how much?
Could the bills be paid? Could your family stay in the same house? Eat the same food? Drive the same car?
Let the story unfold.
The key thing is getting the prospect to answer these questions themselves. If you feed the answers they won’t internalize the value of life insurance.
Three years salary doesn’t sound too good when you do the math, does it?
4) Tell a Story
Tell prospects a story about a family that needed life insurance and didn’t have it, or maybe a story about a family that did have coverage and how important it was.
The better you tell the story, the easier it is for your prospect to see the value in the coverage.
If you’re telling a story about a particular family and you can show a picture of them (with permission of course) it can make your story much more impactful.
Don’t make up a story though… you don’t need to.
5) Have Someone Else Tell a Story
Even if you’re a good story teller, you won’t be able to tell someone else’s story better than they can.
You can find tons of videos online of people explaining how life insurance either saved their family or the lack of it destroyed them.
Check out The Life Foundation’s YouTube channel. I was at a conference where they had a young girl speak about losing her parents and the difficulties it placed on them and I swear there wasn’t a dry eye in the house.
I cried like a baby.
Think about creative ways to share videos like this. Can you email them to prospects? Make a video that runs in your waiting room? Post them to social media?
6) Talk to the Whole Family
It’s a whole lot easier getting Dad to see the value of life insurance when you’re talking to him about it with Mom.
Think about ways to get more meetings with multiple members of the family instead of just one.
How many times have you talked about life insurance with the only person on earth who won’t benefit from the policy?
7) Talk About The Kids
Everybody loves talking about their kids and it’s also a great way to build rapport.
But what you might not always consider is that the more you talk with a prospect about their kids, the more you’re firing the neurons in their brain associated with taking care of their family.
Neurons that are highly charged from lots of conversation like this will play a stronger role in the decision process.
If you talk, at length, about everything related to your prospect’s kids you won’t even need to mention how the life insurance effects them.
8) Talk About What They Do For Their Family
I love talking about all the things I do for my kids.
Did I say talking? I should have said complaining…
Pick ‘em up here, drop ‘em off there, do the laundry, clean up, help with homework, coach the team, fix their bike, etc. etc. etc.
A conversation about the things your prospect does for their kids accomplishes lots of things:
9) Use Assumptive Conversation
Talk to prospects about life insurance the way you would talk to them about buying milk.
The question is not whether or not to buy it. The questions are what kind do you want, and how much?
When you assume that all responsible adults in your prospect’s situation buy life insurance they will too.
10) Put the Prices Out There
When it comes to young healthy people, life insurance really isn’t that expensive when you consider the potential payout.
Make sure your prospects know how cheap some policies can be.
It probably wouldn’t hurt to compare the cost of a perfectly healthy young adult with that of an average middle aged adult to demonstrate importance of buying young.
More about 12 ways will be post soon after this.....
Hi I am Yen Wei Nee
I have been in insurance industry for 17 years and would like to share here with you my experience and information that is now changing our lives.