How to Offer a Life Insurance Review to Existing Clients

[jrosskline]

Calling an existing client to offer a life insurance review is pretty daunting.

Whether it's concerns about rejection, coming off as pushy, or even damaging the client relationship, there are many things that can get in the way of offering this valuable (and profitable) service.

To make matters more challenging, there is little on the web that gives actionable advice on how to communicate your offering and motivate the client to action. And while many professionals advocate the service, few have actually had any success at it.

This thread is designed to be a resource for agents and brokers specifically looking for advice from veterans who've enjoyed success with LIR's, on how to successfully offer a life insurance review to existing clients.

From call scripts to specific questions and phrases that motivate the client to action, we all greatly value your wisdom and generosity!

 

[eersfan]

Is this a client you wrote or an orphan? The verbiage will be different when calling.

 

[DHK]

I thought he was going to tell us more about how he does it.

Here's the problem:
Is a "life insurance review" perceived as a valued service by who you're calling on? In my opinion, ONLY if they happened to be thinking about it recently and/or a life event recently occurred in their family.

It's a low-value/low-probability offer. But if it's working for you - keep doing it.

"Knowledge of the product never was and never will be worth more than 5% (of the sale). Knowledge of people - 95%. And if you ain't got that straight, you've got nothin' straight. People don't buy insurance. People buy people." - John Savage, CLU.

 

[10X]

"Knowledge of the product never was and never will be worth more than 5% (of the sale). Knowledge of people - 95%. And if you ain't got that straight, you've got nothin' straight. People don't buy insurance. People buy people." - John Savage, CLU.


This is so true. That is why you see people who just started out in insurance do well. Once they get a bunch of "insurance knowledge", it can get in the way of helping people and writing policies.

 

[DHK]

Once they get a bunch of "insurance knowledge", it can get in the way of helping people and writing policies.

True. It's an agent showing their insecurity by trying to show off how much they know... and it backfires. Simplicity and being reserved is the key.

 

[eersfan]

No one cares how much you know until they know how much you care.

It's fun to have to a conversation with some newbie fresh out of training school.

 

[victor247]

Thank you for sharing this.

I thought he was going to tell us more about how he does it.

Here's the problem:
Is a "life insurance review" perceived as a valued service by who you're calling on? In my opinion, ONLY if they happened to be thinking about it recently and/or a life event recently occurred in their family.

It's a low-value/low-probability offer. But if it's working for you - keep doing it.

"Knowledge of the product never was and never will be worth more than 5% (of the sale). Knowledge of people - 95%. And if you ain't got that straight, you've got nothin' straight. People don't buy insurance. People buy people." - John Savage, CLU.

www.youtube.com/watch?v=_kTjNRuh6NA

 

[Lloyds of Lubbock]

"No one cares how much you know until they know how much you care."
You wouldn't happen to be affiliated with an agency in Pittsburgh?