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Let me clarify my position for your edicfication.
All things being equal it's strictly about price. The same thing for less money. Not too hard to grasp.
But all things are equal so that's where subjectiveness comes into play.
And, I didn't say "no way" to Rearden's question about my policies being replaced. I said doubtful. But I wasn't talking about by anyone. I was making a dig at rearden that it was doubtful that HE could. Since he didn't pick up on the jab I suppose it did look confusing?
Right, now I see where you were going with your comment.
Admittedly, I was a little worried that you were potentially admitting that your were nothing more than a clerk specializing in persuasionless transactions.
Of course you sell value -- you service your clients, you offer them products with extra perks (RNA), all at a competitive price.
My point was that I most likely could NOT replace your existing clientele on price -- even if I offer more coverage for the same price -- because of the value you imbue in your clients.
The bigger point is that value is subjective, not price linear, and driven only in small part by price; that's why we see all sorts of higher priced life insurance products thrive, because people have differing sets of values that determine a purchase.
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Are you admitting you strictly sell Christian Fidelity at all your appointments where the prospect can qualify, despite your commission (55%) being half as low as most other carriers with higher premiums?
PCB -- Price is not the determining factor.
TRUST is the determining factor to making the sale; the terms and conditions (price being a part) are what solidifies the sale.
Your clients are buying YOU, just as much as they are buying the product at the price you are presenting them.
Think about it. How many of your clients bought whatever brandless product they've never heard before you presented it to them, WITHOUT questioning you?
They do so because they trust you, and how you presented the product, and customized it to their goals.
Which brings up a bigger point. People buy life insurance because it solves a problem.
If the problems is paying for a burial, and you can factually sell them on why an $8000 burial is enough, then that's enough, assuming you can fit their budget.
Case in point: I had two different replacement scenarios yesterday. My first prospect had $15,000 in coverage. The $5000 was replaceable on a price-basis.
I presented the argument of dropping the $5000 and picking up my $7000 to help fight against rising prices.
His apathy and experience with local pricing on funerals outweighed any reasoning to increase his coverage $2000 for free? Why? Because he had already solved his problem in his own eyes -- he had the coverage necessary for a burial at a premium level he could afford.
My second replacement had a husband and wife who just took out Lincoln Heritage products. They wanted to be cremated, had enough to solve the cremation funding problem through their two policies, BUT, in conversing with them, discovered that they had a desire to leave additional coverage to the Grandson.
I was able to raise their coverage from $3000 to $5000 each and keep their premiums lower than what they were paying with Lincoln Heritage.
Basically, I uncovered that there was a greater problem to solve beyond cremation (leaving money behind), and presented the solution that could accomplish the task BETTER than LH's, with the added benefit of a better price.
