Had One Call to Cancel

[houcoogster]

Your best shot at selling these types other than Preneed is single pay. Another reason to always have Settlers. Oxford just brought out a new one too.

The worst thing you can offer people with the goals and personality that you have described is a monthly payment that never ends. They don't want that. I can sell them because I am one of them. I want to own...not rent.

Not to get all teary eyed on you but this is the reason this forum is so awesome. If I were to have access to this type of support and information when I started in 97 there is no telling how much I would be worth today. I give a big round of applause to all contributors. We are life long learners.

 

[0b1kanobee]

The guy is 80 years old. 80 year old people don't have all their wires connected upstairs anymore. Yes every once in a while you come across some 80 year old that's sharp as a tac, still mows his own lawn, works out at the gym, pops a Viagra once in a while but not too many. None of us were there so it's hard to say if you pushed it down their throats, beat them up till they gave in or hog tied them until they bought as some have suggested or couldn't show them the effects and math on money in the bank, compound interest, inflation and the value of our dollar here and around the world. Nope it was none of that. They just have a screw lose. I can tell by the comments he makes when you posted them. My first timeshare sale which happened to be my first tour when I did that cancelled on me the next morning. In my case they called their kids and after hearing they bought timeshare number 4 the kids made them cancell. I sold three other timeshares that week. Things like this happen for one reason or anither. Thankfully there are more prospects out there. Forget about it. Move on and don't let it rob any energy from you. Thanks for sharing the story. Just to add, I sold an 82 year old a policy about a month ago and you could of put the guy on the moon and he wouldn't of noticed any difference from earth it seemed at times. It's like when you get to that age you go in and out of consciousness. I'm glad that most aren't packing guns. Imagine all the gun nuts these days turning 80 some day. It won't be dogs without a leash that you'll have to worry about but the prospect forgetting who and why you are there and turn around and shoot you because he went to the restroom to change his Depends and comes out and sees you there with his 76 y.o. wife thinking your some kinda Muslim terrorist. Tell me that 80 y.o. didn't seem at times one taco short of the combo platter. Sometimes that works for you and sometimes it works against you. In my last case the guy only had one taco to work with. Good news is he's got a policy now.

 

[HoosierDaddy]

My thoughts:

He probably didn't have the 14k to set aside.
He told you he did to try and prevent your sale and keep face.
He probably couldn't afford $150 a month.

BINGO... Winner, winner chicken dinner!!!

This was and Equita lead and I can assure you that running across a true pre-need client is few and far between on these leads.

I would bet they are worried about the premium being unaffordable.

 

[theinsuranceman]

Last night I stopped in on a couple who had sent in a lead card. He's 80, she's 76. They are in pretty good shape financially. I asked them why they sent the card in.
"Because we don't have any insurance."
The lady tells me that her sister just bough a pre-paid funeral and that's what she'd like to do. So I asked them a few questions and led them down the road of killing the prepaid objection. In the end, they agreed that a pre-paid funeral was less economical than life insurance.

With this couple I took the angle of freedom and options. That that's the one thing life insurance provides that no other plan could. They husband was big on the idea that he could just set some money aside to pay for their final expenses. Again, I took the same approach.

Toranaga: "Sir, I'm so glad that you feel you're in a financial situation where you can put money aside to cover those expenses. Many of my clients have felt the same way, However, once they examined the fact that once that money's earmarked for final expenses, they found that their options became limited and they no longer had the freedom to use their money as they wished which they would have with a life insurance program. Does that make sense?"

Him: "Yep sure does. But I'm not the kind of guy who makes snap decisions. I'm gonna need some time to think about this."

T: "Yessir, you do need to think about this and I'm glad to have the opportunity to be a part of that. Let me suggest that we get the ball rolling on the insurance, I'll deliver the program to you so we can go over it in detail and make sure it's exactly what you want, and does exactly what you need it to do for you."

Him:" OK"

So I tooks apps on him and his wife.

Faxed them in this morning. Ten minutes later, he calls and says

Him: After thinking about this overnight, I really think I'd rather just set the money aside for my final expenses.
T: OK, remember last night how we talked about options?
Him: Yep
T: Well, right now you have the option of setting aside $14000 dollars, that will never be able to serve you again. Or you could aside an offordable insurance program that will turn $150 into $14000 overnight. It will shift the burden of your final expenses from you and your wife, to the insurance company. You will still have your $14,000 tomorrow. You will have the freedom to use that money if you need it. Doesn't that make sense?
Him: Yes, it sure does.
T: So why not go ahead and let's take a look at that program at length and then you can decide. There is no risk to you.
Him: No, just cancel it. CLICK

Obviously, the presentation last night was much longer than what I have detailed here. Just giving you all the wavetops.

Advice?

Lots of good opinions on this case. Good case for everyone to compare notes and thoughts. We need more of these situations on the forum.

Here's my take on it......

-The wife tells you what SHE wants, pre-paid funeral just like her sister recently did. The wife is kinda making it easy for you as now you sorta know what you're working with as far as she is concerned.

-The husband tells you what he wants, to just set money aside for their funeral expenses. (He's not really serious because he sounds as if he hasn't even started setting $$$ aside, and he's already 80! I might have said that's a popular idea, how much have you saved so far?) This is his way of saying he's not yet sold on the idea of life insurance. He may be leaning towards a pre-paid funeral but we don't really know because you didn't ask him what he thought about pre-paid funerals.

-You probably did a respectable job changing his opinion, at least for a few hours, that life insurance was a more economical situation for them.

-The husband tells you he doesn't make snap decisions. What he's really saying is "my wife wants a pre-paid funeral and you're showing us life insurance. When you leave I'm going to talk with my wife and see what she thinks about the life insurance you've just showed us compared to her thoughts on that pre-paid funeral she said she wants, because her sister just did one".

-Here's where things came apart...If you look at the bold words up above, you'll see the conversation was between you and the husband. The wife seems to be left out. You have to include the husband and wife in the conversation, even if one of them is more talkative and assertive, you have to include the quiet one too.

When you left their house the wife, who said she wanted a pre-paid funeral just like her sister did, wasn't really sold on the life insurance idea. She's still leaning to a pre-paid funeral. Why wasn't she sold on the life insurance idea? Because you left her out of the conversation when you were working on her husband, you have to work on both of them together.

So as the husband and wife discuss their options, after you've left, the wife probably killed the deal. She's telling her husband she doesn't really like the life insurance idea and would rather do the pre-paid funeral. She kills the deal because she was left out of the conversation and the decision making.

It's also possible the $150 was just too much for their budget. Before you left, you should have done a "warm-down". You should have said "one of the great things about these state-regulated plans is that no matter which plan a person picks, you can always add onto it. If you think that maybe you'd like to start with something in the $65-$95 range to start with, instead of $150, that would also be a good decision. Would you rather do that?" This'll help flush out the affordability issue.

Don't really know if this is a pre-paid funeral prospect or not. Doesn't matter as the wife killed the deal for you.

 

[Toranaga]

Another good thread.

You talked a lot about what he thought.

What about the wife? Was she drawn in to the conversation? What were her thoughts?

He probably couldn't get over possibly paying more into the policy than what it's worth.

You'll get that a lot with older, non-believers.

They either get the point of having it or not. Time to talk to someone else.

Yeah she was a big part of the conversation I left a lot out trying to keep the post short. Many of the comments I attributed to him were hers. I think he has the money. Can't prove it. Just a hunch.

Fact is, I think she drove the turn around. She started in with wanting the prepaid but it was her buying signal that prompted him to move.

It's about money no doubt. After reading all your thoughts I can see that there is no way for me to give a really accurate account. But, I think he ultimately just doesn't give a crap and doesn't want the payment.

 

[houcoogster]

Lots of good opinions on this case. Good case for everyone to compare notes and thoughts. We need more of these situations on the forum.

Here's my take on it......

-The wife tells you what SHE wants, pre-paid funeral just like her sister recently did. The wife is kinda making it easy for you as now you sorta know what you're working with as far as she is concerned.

-The husband tells you what he wants, to just set money aside for their funeral expenses. (He's not really serious because he sounds as if he hasn't even started setting $$$ aside, and he's already 80! I might have said that's a popular idea, how much have you saved so far?) This is his way of saying he's not yet sold on the idea of life insurance. He may be leaning towards a pre-paid funeral but we don't really know because you didn't ask him what he thought about pre-paid funerals.

-You probably did a respectable job changing his opinion, at least for a few hours, that life insurance was a more economical situation for them.

-The husband tells you he doesn't make snap decisions. What he's really saying is "my wife wants a pre-paid funeral and you're showing us life insurance. When you leave I'm going to talk with my wife and see what she thinks about the life insurance you've just showed us compared to her thoughts on that pre-paid funeral she said she wants, because her sister just did one".

-Here's where things came apart...If you look at the bold words up above, you'll see the conversation was between you and the husband. The wife seems to be left out. You have to include the husband and wife in the conversation, even if one of them is more talkative and assertive, you have to include the quiet one too.

When you left their house the wife, who said she wanted a pre-paid funeral just like her sister did, wasn't really sold on the life insurance idea. She's still leaning to a pre-paid funeral. Why wasn't she sold on the life insurance idea? Because you left her out of the conversation when you were working on her husband, you have to work on both of them together.

So as the husband and wife discuss their options, after you've left, the wife probably killed the deal. She's telling her husband she doesn't really like the life insurance idea and would rather do the pre-paid funeral. She kills the deal because she was left out of the conversation and the decision making.

It's also possible the $150 was just too much for their budget. Before you left, you should have done a "warm-down". You should have said "one of the great things about these state-regulated plans is that no matter which plan a person picks, you can always add onto it. If you think that maybe you'd like to start with something in the $65-$95 range to start with, instead of $150, that would also be a good decision. Would you rather do that?" This'll help flush out the affordability issue.

Don't really know if this is a pre-paid funeral prospect or not. Doesn't matter as the wife killed the deal for you.

You are a world class blankety blanking blank!
You start off by saying how we need more of these cases to work out in the forum and you turn right around a berate the guy for Not including the wife....really? Were you there?
And then all your jibber jabber talking in circles like you have a clue. You offered absolutely nothing New to the discussion. So take a hike pencil neck you won't be recruiting this guy ever.

 

[Toranaga]

You are a world class blankety blanking blank!
You start off by saying how we need more of these cases to work out in the forum and you turn right around a berate the guy for Not including the wife....really? Were you there?
And then all your jibber jabber talking in circles like you have a clue. You offered absolutely nothing New to the discussion. So take a hike pencil neck you won't be recruiting this guy ever.

Probably not Greg's fault. I can't really relate the story accurately without writing a book. I'm leaving way too much out for it to really make sense. But I have been really encouraged by everyone's posts. All have an element of relevance to the situation. Hopefully I'll be able to put it all to use and improve. It's hard for me to post all my embarrassing f-ups on here but I gotta succeed at this and I'm willing to take some lumps in public to do it. Thanks to all.

That said, I'm not going into tele sales. I sound like a doofus on the phone.

 

[TDFnCali]

Probably not Greg's fault. I can't really relate the story accurately without writing a book. I'm leaving way too much out for it to really make sense. But I have been really encouraged by everyone's posts. All have an element of relevance to the situation. Hopefully I'll be able to put it all to use and improve. It's hard for me to post all my embarrassing f-ups on here but I gotta succeed at this and I'm willing to take some lumps in public to do it. Thanks to all.

That said, I'm not going into tele sales. I sound like a doofus on the phone.

Only on the phone??

 

[Toranaga]

Only on the phone??

No I always sound like a doofus. But in person my overwhelming handsomeness makes up for it.

 

[nfl72]

I might have tried a simple breakdown of the math involved. The chances are very good he could die over the next 3 to 5 years. If he were to die three years from now this FE policy would be one of the best investments he would have ever made in his entire lifetime.

Some times it helps by hitting them in the mouth with the fact that we have no idea when we are going to pass on. Yes you might live an additional ten years, and we certainly hope you do, however in reality we all know you could also go tomorrow.

At $150 per month, its better to have it and not need it than to need it and not have it. Isn't that true?

While it is easy to believe the notion he doesnt have the cash he says he has, I am thinking his wife would rip him a new ahole when you left if he did in fact lie about it!

There are many different ways to try and close this guy and we never know what might work. Also don't forget about the fact that that policy at the break even point will have a pretty sizable amount of cash value, which substantially lowers the true overall cost of the insurance for that period of time.