Colt 45 close?

[jasperjohns]

I have heard several people reference this can anyone briefly explain it? Or I should say is anyone willing to? Had a couple of appointments this week in which people had a policy but I couldn't get them to get the policy. Didn't know if I should move forward and quote or try to see what they have and go from there. I will ask upline but also curious how others handle this.

 

[jasperjohns]

Instinct was to find out why they sent in the card (3 reasons...) wait I think I found my first mistake. I didn't get them to commit to the reason they sent card in. If they did then I could probably use that to work off of....ugh ok I still would like to hear how others handle it. Thanks

 

[bboman23]

HOW you ask them to get the policy is EXTREMELY important. I did a training on this exact topic to help my agents over come this.

You have to create an INTEREST in them getting the policy. Many agents tell them to go get it so they can see if they can get a CHEAPER price. To many people, cheaper does NOT mean better.

Congratulate them on getting insurance in place for their family. Then ask certain questions...

Is it a whole life or term policy?
Does it have Waiver of Premium?
What about accelerated death benefit rider?

This creates interest because now they want to know if it has that.

Then explain to them that many times we make mistakes as agents. We write down a name wrong or address wrong. Any errors in a policy can slow down a claim when you pass away. I know you got this policy to ensure your daughter gets the check FAST correct?

Lastly, many people just take the agent's word for what they said and never read their policy.

Mary, this is why a policy review is extremely important. I go over the details right here WITH YOU and make sure everything is accurate and also make sure you explain any riders that you have. You could have a rider that actually pays you money and are not even aware of it.

So while I grab a highlighter out of the bag, just run grab that policy real quick and we will review it.

***It is way more detailed than that, but this is bullet points!***

 

[WinoBlues]

HOW you ask them to get the policy is EXTREMELY important. I did a training on this exact topic to help my agents over come this.

You have to create an INTEREST in them getting the policy. Many agents tell them to go get it so they can see if they can get a CHEAPER price. To many people, cheaper does NOT mean better.

Congratulate them on getting insurance in place for their family. Then ask certain questions...

Is it a whole life or term policy?
Does it have Waiver of Premium?
What about accelerated death benefit rider?

This creates interest because now they want to know if it has that.

Then explain to them that many times we make mistakes as agents. We write down a name wrong or address wrong. Any errors in a policy can slow down a claim when you pass away. I know you got this policy to ensure your daughter gets the check FAST correct?

Lastly, many people just take the agent's word for what they said and never read their policy.

Mary, this is why a policy review is extremely important. I go over the details right here WITH YOU and make sure everything is accurate and also make sure you explain any riders that you have. You could have a rider that actually pays you money and are not even aware of it.

So while I grab a highlighter out of the bag, just run grab that policy real quick and we will review it.

***It is way more detailed than that, but this is bullet points!***

Good stuff.

Policy reviews is a big part of what I do. Beneficiary wording is my number one disturbing question.

 

[nfl72]

The thread asked about the Colt 45 close

I first saw the Colt 45 close in 1979 by John Yost the Regional manager at Combined insurance. I was new he was old, and he liked to meet up with me late in the afternoon so we could run a few leads and then go to the bar and get wasted.

The close goes like this.

It was pitch dark out and we were headed to an old beat up single wide out side of Mt Pleasant to renew a $47.50 policy. That was the 6 month premium. In those days we drove to the house every 6 months and renewed what they had and always tried to sell them more. This was our last stop of the night and John told me as we pulled in, this piece of shit is a reluctant renewal. You always have to resell him and he is full of excuses. He said it was like pulling teeth!

Sure enough this guy made it clear he was not buying more, and in fact he was going to cancel everything because he had no money. John hit with every close I had every heard of and the guy would not flinch.

Finally John got excited , he looked him square in the eyes about 6 inches apart, with his pen stuck in the guys face and in a very gruff, stern, pissed off voice stated.

"If this pen were a colt 45 and I stuck it in your face and said get me $47.50 or I'll blow your fucking head off, what would you do?"

To which he stated, I'd go get the money!"

John stated "Well go get the money then."

They guy got up walked to the far back room and came back with $47.50

We got in the car and drove away and I said Jesus Christ John, what the *** was that?

He said

"That's my Colt 45 close!"

true story

 

[jasperjohns]

The thread asked about the Colt 45 close

I first saw the Colt 45 close in 1979 by John Yost the Regional manager at Combined insurance. I was new he was old, and he liked to meet up with me late in the afternoon so we could run a few leads and then go to the bar and get wasted.

The close goes like this.

It was pitch dark out and we were headed to an old beat up single wide out side of Mt Pleasant to renew a $47.50 policy. That was the 6 month premium. In those days we drove to the house every 6 months and renewed what they had and always tried to sell them more. This was our last stop of the night and John told me as we pulled in, this piece of shit is a reluctant renewal. You always have to resell him and he is full of excuses. He said it was like pulling teeth!

Sure enough this guy made it clear he was not buying more, and in fact he was going to cancel everything because he had no money. John hit with every close I had every heard of and the guy would not flinch.

Finally John got excited , he looked him square in the eyes about 6 inches apart, with his pen stuck in the guys face and in a very gruff, stern, pissed off voice stated.

"If this pen were a colt 45 and I stuck it in your face and said get me $47.50 or I'll blow your fucking head off, what would you do?"

To which he stated, I'd go get the money!"

John stated "Well go get the money then."

They guy got up walked to the far back room and came back with $47.50

We got in the car and drove away and I said Jesus Christ John, what the *** was that?

He said

"That's my Colt 45 close!"

true story

Lol lol that has got to be one of the best insurance related stories I have ever heard. Thanks for sharing nfl72.

 

[FinalExpenseDojo.com]

You have to have authority in the appointment from the start and you will always get the client to grab their policy. when I was in the field I would not even explain why. I would tell them to get it and they would.

So how do you gain authority?

1. Get them in the mode of getting up and getting things for you. If you do this correctly, you will get them in a habit where they don't think twice.
2. Use the consistency & commitment rule by having them do the easy thing for you first & the hardest thing last.

What does that look like? During your presentation, you'll have times where you'll need them to do somethings for you...

First you tell them to grab you a bottle of water.
Second you tell them to grab their medications for you.
Third, you tell them to grab their policy (if they have existing coverage). NEVER continue in presentation until current coverage is reviewed. If they ask why tell them you can't continue until you review what they have & leave it at that.
Forth, you tell them to grab a voided check.
Fifth, you tell them where to sign. (Always have them sign a paper app even if using an interview carrier. This will lock them in mentally.)

Mix the above with a presentation where you're constantly leading them to give you little yeses.

This is so powerful that I used to have people give me their social & even sign the app while telling me no. LOL

This is the same principal Attornies and Doctors use. When you go into the doctor do they give you a 20 second spiel about why they need to stick a wooden stick in your mouth and say "AHHH"? Of course not. & them doing so doesn't make you like them any less. You appreciate that they are a professional that is confident enough to not have to convince you to do anything.

 

[bboman23]

Jasper, you can read and pick the way that works for you. I would much rather speak to them from a position of wanting to help them instead of a position of I want to CONTROL you and make you get up 20 different times doing things I command you to do.

 

[Todd King]

The thread asked about the Colt 45 close

I first saw the Colt 45 close in 1979 by John Yost the Regional manager at Combined insurance. I was new he was old, and he liked to meet up with me late in the afternoon so we could run a few leads and then go to the bar and get wasted.

The close goes like this.

It was pitch dark out and we were headed to an old beat up single wide out side of Mt Pleasant to renew a $47.50 policy. That was the 6 month premium. In those days we drove to the house every 6 months and renewed what they had and always tried to sell them more. This was our last stop of the night and John told me as we pulled in, this piece of shit is a reluctant renewal. You always have to resell him and he is full of excuses. He said it was like pulling teeth!

Sure enough this guy made it clear he was not buying more, and in fact he was going to cancel everything because he had no money. John hit with every close I had every heard of and the guy would not flinch.

Finally John got excited , he looked him square in the eyes about 6 inches apart, with his pen stuck in the guys face and in a very gruff, stern, pissed off voice stated.

"If this pen were a colt 45 and I stuck it in your face and said get me $47.50 or I'll blow your fucking head off, what would you do?"

To which he stated, I'd go get the money!"

John stated "Well go get the money then."

They guy got up walked to the far back room and came back with $47.50

We got in the car and drove away and I said Jesus Christ John, what the *** was that?

He said

"That's my Colt 45 close!"

true story

I have heard this story several times and every time I heard it, it was from an ex-Combined agent. They must teach this close very well!

 

[jasperjohns]

thanks for all the feedback to all posting on the thread.