Assumption Closing

[WinoBlues]

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?

I agree. Someone, in a different thread, said something about asking the symptoms then diagnosing the problem. I think it was Kuhn.

That is more how I work. To me the Premium is not the problem, The premium is the solution. (Feldmen, I think). The amount needed is the problem.

Granted, I am a Life Insurance agent not an FE agent. I have however sold my share of small "burial' policies. think it may boil down to the clients you are sitting with and the approach you are comfortable with.

 

[goillini52]

I agree. Someone, in a different thread, said something about asking the symptoms then diagnosing the problem. I think it was Kuhn.

That is more how I work. To me the Premium is not the problem, The premium is the solution. (Feldmen, I think). The amount needed is the problem.

Granted, I am a Life Insurance agent not an FE agent. I have however sold my share of small "burial' policies. think it may boil down to the clients you are sitting with and the approach you are comfortable with.

You're not a FE guy? I must have you mixed up with someone else. I'm probably thinking of Rouse. Rouse is a FE guy isn't he.

 

[KRobby]

You better read it again.



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.

You're getting warmer, but then I'm wondering why you would say "For example, if the average funeral costs $8000 in a particular area, why not quote that amount or even higher (for inflation)?" Isn't $8,000 a face amount you'd be quoting?

 

[rousemark]

You're not a FE guy? I must have you mixed up with someone else. I'm probably thinking of Rouse. Rouse is a FE guy isn't he.

Not me.. I received my * from Wino...

 

[rousemark]

Not me.. I received my * from Wino...

Just thinking.. I got my frog from a friend when I had cancer.. I received my rooster award from Sti right after I had a heart attack.. At least I didn't have to almost die for Wino to give me my *....

 

[LostDollar]

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.

Thank you. (from a member of the "old fart" market.)

 

[WinoBlues]

Not me.. I received my * from Wino...

I got them in bulk at the Unicon kiosk in Costco.

 

[goillini52]

Thank you. (from a member of the "old fart" market.)

There are a few members that are older than you and Rouse, but none that post often that I know of. You and Rouse are the oldest and the same age, so the 2 of you can be the Head Farts.

 

[WinoBlues]

I'm an FE agent. When I grow up, I want to be a Life Insurance Agent

I used to think FE was life insurance till I got schooled.

 

[bboman23]

I am not sure where the confusion is. If you are working a book of business like Wino, it is completely different. If you are not on a lead program and go see people once or twice a month, that is completely different.

But for an agent buying DM leads each and every week, you can't go out there slinging only $15 or $20 per month policies. I live in Mississippi and have to price drop a lot more than most of you probably have to. But a new agent will find a quick exit if he closes 25% of his DM leads and is writing $15 apps.

If you are running leads, you know what I am talking about when people always say they want 10k. That is the number thrown around most of the time. They only say that because they saw something 6 months ago and for some reason that number is in their head. My job is to find out their reason for sending the card in, and then presenting MY recommendations. They are not forced to buy them!

I also go into houses and talk with people that I can instantly tell are in a financial bind. In those cases, you can show less if you are 100% sure that money is the problem. I just do not think a new agent should be consistently showing less than $50 initially. If money is the problem, then you can drop it down from there after you find out if it is a smoke screen or a true objection.

Flip the conversation around...how many times have you walked into a house and someone say "I am looking for at least a million!" And he is a unemployed single guy living in a camper. He doesn't have any rhyme or reason for saying 1 million, it is just a number he is throwing out.

If 10k is less than $50 per month, that means they are younger. Do you not think it is smart to show someone a policy that will cover their funeral if they live several more years? If $50 per month is less than 10k, (just say it is $4,000 because of their age) then you are showing them how having SOMETHING is better than having nothing...but you also have higher options on the sheet in case they would rather spend more to have the right amount.

I make posts to try to help new agents that are full time in this and running leads each week. Some of you have other ways to get business or are not full time in the business. Of course your situation would be different.