Objection: I Don't Have That Mortgage/Company Anymore.......

[theleadingagent]

I've had a few calls where the prospect claims they don't have the mortgage company that is listed on the lead form sheet that they filled out.

How do you turn this around?

*calling aged leads

 

[LostDollar]

caveat, not an agent.

Wouldn't you want to followup by asking some type of question to see if they still have a mortgage?

If you know they still have a mortgage, it seems like you could then transition in to other questions or statements you regularly make to develop interest in you and your product and the purpose the product serves.

edit 08-17 ------------
The above is not a good comment. See DHK's posts below.
End edit 8-17 ------------------------------------------------------

A change in lenders does not affect the need to buffer the borrowing family from the effects of the primary wage earner loosing the ability to provide for the loan payments.

 

[DHK]

I've had a few calls where the prospect claims they don't have the mortgage company that is listed on the lead form sheet that they filled out.

How do you turn this around?

*calling aged leads

"That's actually perfect because our protection program isn't about the lender... it's about you and your family. Our proceeds are payable to you and your family NOT the lender directly, and then they can either continue the mortgage, pay off the mortgage, sell the house... whatever. They have the control because of the planning done in advance."

 

[adjusterjack]

Perhaps not referring to life insurance as "mortgage protection" in the first place.

 

[LostDollar]

"That's actually perfect because our protection program isn't about the lender... it's about you and your family. Our proceeds are payable to you and your family NOT the lender directly, and then they can either continue the mortgage, pay off the mortgage, sell the house... whatever. They have the control because of the planning done in advance."

Why, in this case, does one not have a concern about whether the prospect still has a mortgage before doing presentation steps?

(Not trying to pick a fight, just wanting to see if I can learn concepts about when you qualify someone and when you don't.)

 

[DHK]

The vast majority of homeowners have a mortgage. I highly doubt that, even with aged leads, that most people who had requested information about 'mortgage protection' would have paid it off within the previous 2-3 years.

And the truth of life insurance, is putting the proceeds in the hands of those who need it and let them make the informed decisions they need at that time.

 

[LostDollar]

Ok thanks. I liked your response above and I edited my post above to say my comment was not a good idea.

 

[mickeyma]

Your prospects are telling the truth - they have a new lender. These lenders "service" the loans. It is very competitive and, since it involves hundreds of thousands of mortgages, even a slightly reduced fee from the new lender results in a considerable amount for the original loan holder.

 

[Tahoe Ray]

Ok thanks. I liked your response above and I edited my post above to say my comment was not a good idea.

I'm not trying to be a jerk here, but you seem like you have some time on your hands.

Why not get your life/health license and just see what we're all up against. Frankly, I think that you'd enjoy it.

Selling insurance sucks and is awesome at the same time. The war stories can be as fun as the big sales.

Get out there and sell a few policies. You obviously don't need it to financially survive but it can be some fun money.

You'd also get some "street cred" here and make some extra dough.

Just a thought but I really think that you'd like it.