Assumption Closing

[DayTimer]

I remember it. I was part of that discussion. It’s usually a smokescreen, and when I do have a son or daughter present, they usually say, “Daddy, you need to go ahead and do this!” They don’t want to have to come up with funeral money themselves.

Had one just like that yesterday. Dad had a small policy - just a few thousand. His daughter was with us and she said "Daddy you need another $10,000!"

 

[Zemo14]

I sometimes wish they would have them present for the interview, at least the adult version of those. I have a hard time overcoming when they say, "I need to talk to my daughter", etc. If she was sitting there, we could all talk together and get it taken care of!

Early in the meeting the question "Mr. Client, do you make all your own financial decisions, or do you check with one of your kids or another advisor prior to making decisions?" should be asked.

 

[PA Bill]

Bullshit. They get wise to your ways eventually.

That's what's great about selling, you're out of there before they know what hit them. With kids? Well, no escaping those little crumbs.

 

[Todd King]

Good post Ben.

I have always used assumptive closing. Even though the "3 choices" works, I never used it. Whatever happened to finding out the coverage amount they actually need?

 

[JimmyCrappedCorn]

Good post Ben.

I have always used assumptive closing. Even though the "3 choices" works, I never used it. Whatever happened to finding out the coverage amount they actually need?

That is the correct answer sir. The question is are we here to sell them what they need or get every nickel we can out of them. It is a thin fine line we walk.

 

[KRobby]

I took that as one key point of Ben's post. He suggests that many FE agents, especially newer agents, go in scared to quote what would be an adequate level of coverage.

For example, if the average funeral costs $8000 in a particular area, why not quote that amount or even higher (for inflation)?
Because most agents feel better asking their 73 year old chain smoking prospect to spend $38/month for 3K policy than <GULP > the $98/month that the more adequate 8K plan would cost, much less the $180/month a 15K.

In the example of what not to do he used an example of 10k. Better read it again.

 

[DayTimer]

In the example of what not to do he used an example of 10k. Better read it again.

You better read it again.

The first thing is try to start your prices around $50 and give at least 3 options (I know several people show 5 options, and that is fine also!) Even if they are 50 years old and said they wanted $10,000, do not show it initially if it is a lot less than $50 per month.

When he is talking about what NOT to do he is talking PREMIUM levels, not Face amount. I used an example where the prospect is a 73 year old smoker. Ben was using an example where the prospect was 50, so a 10K benefit would have a premium less than $50/month. Ben's point is NOT to quote a premium below $50 unless it really does come down to price for a prospect. Read Ben's, then read mine. Again.

 

[goillini52]

Good post Ben.

I have always used assumptive closing. Even though the "3 choices" works, I never used it. Whatever happened to finding out the coverage amount they actually need?

Yep, just start filling out the app. If they don't want it or they don't understand something, they'll stop you. Assume the sale, because they should want the best of whatever you're peddelin'.......that's why you're there so why wouldn't they want it.

 

[shonceman]

My clientele may be a little different than others, but I have to keep in mind that they’re buying premium first, then coverage. So when I write my 3 quotes, the one in the middle is the one I think they’ll go for. I hope it covers at least an average funeral. But, especially if they’re older, I don’t want them to suffer initial “sticker shock”, or subsequent buyer’s remorse.

If they point too quickly at the highest option, I try to press them to make sure they’ll still be able to afford it when the electric bill goes sky high in August, then back them down if I think they’re taking too big a bite. I don’t just want them to buy, I want them to keep it.

 

[DayTimer]

Yep, just start filling out the app. If they don't want it or they don't understand something, they'll stop you. Assume the sale, because they should want the best of whatever you're peddelin'.......that's why you're there so why wouldn't they want it.

"Some people say that this is being a little bit presumptuous. Remember, TIMID SALESMEN HAVE SKINNY KIDS, and if that's presumptuous, so be it ... Believe me, the assuming of the sale is the proper way." Judge Ziglar