Overcoming Objections

jn8691mr

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I met with a mortgage protection lead tonight and would like to hear how others would have overcome this objection... 59-year-old male non-smoker... Takes to high blood pressure medications and is currently on oral medications for diabetes diagnosed three months ago ... He was on insulin for a week to get it under control quickly because his numbers were really out of whack... So I went UHL express issue deluxe 25,000 was $130 per month ... Obviously, going in he was expecting to cover his whole $180,000 mortgage and I had to explain to him that he only qualified for up to 50,000... One of his objections was he could put the hundred and $30 per month in the bank and in 15 years he would have almost $25,000... I explained to him that there would be taxes along the way and this was a tax free death benefit and also the chance that he died early to benefit would be even greater
 
He wanted a truck and you showed him a sedan, exactly what did you expect?

I don't do MP, but there is nothing you had on a term product that would have gotten him what he was looking for? He wasn't objecting, you didn't remotely scratch his itch.
 
Your solution?


QUOTE="VolAgent;976592"]He wanted a truck and you showed him a sedan, exactly what did you expect? I don't do MP, but there is nothing you had on a term product that would have gotten him what he was looking for? He wasn't objecting, you didn't remotely scratch his itch.[/QUOTE]
 
First, VolAgent was right. You need products that can get close to what he's looking for.

One of his objections was he could put the hundred and $30 per month in the bank and in 15 years he would have almost $25,000... I explained to him that there would be taxes along the way and this was a tax free death benefit and also the chance that he died early to benefit would be even greater

Rule #1 with all objections: Never make a statement when you can ask a question.

"I'm confused. Help me understand: if something happened to you next month... how well would your $130 in the bank help your family?"


You bringing up taxes was a moot point. Taxes on non-existant bank interest? Taxes on .01%? Not an issue here.
 
Your solution?


QUOTE="VolAgent;976592"]He wanted a truck and you showed him a sedan, exactly what did you expect? I don't do MP, but there is nothing you had on a term product that would have gotten him what he was looking for? He wasn't objecting, you didn't remotely scratch his itch.
[/QUOTE]

Don't use a screwdriver as a hammer?

If I didn't have a product closer to what he was looking for, I'd have a conversation like what DHK suggests. I'd also realize I would be likely to walk out without a sale in a situation like this.
 
DHK - I really like this ... I will use this in the future ... Thank you

"I'm confused. Help me understand: if something happened to you next month... how well would your $130 in the bank help your family?"
 
If they really are uninsurable, then offering an accidental death policy would be better than having nothing. I know Assurity has the Acci-Flex product that could fit - up to $250,000 with only 1 health question (AIDS).
 
First, VolAgent was right. You need products that can get close to what he's looking for.



Rule #1 with all objections: Never make a statement when you can ask a question.

"I'm confused. Help me understand: if something happened to you next month... how well would your $130 in the bank help your family?"


You bringing up taxes was a moot point. Taxes on non-existant bank interest? Taxes on .01%? Not an issue here.


Well, said, DHK! Also, jn, why not prequalify him and show him a variety of options? This way he will get a sense of what the market has to offer.
 
I met with a mortgage protection lead tonight and would like to hear how others would have overcome this objection... 59-year-old male non-smoker... Takes to high blood pressure medications and is currentl y on oral medications for diabetes diagnosed three months ago ... He was on insulin for a week to get it under control quickly because his numbers were really out of whack... So I went UHL express issue deluxe 25,000 was $130 per month ... Obviously, going in he was expecting to cover his whole $180,000 mortgage and I had to explain to him that he only qualified for up to 50,000... One of his objections was he could put the hundred and $30 per month in the bank and in 15 years he would have almost $25,000... I explained to him that there would be taxes along the way and this was a tax free death benefit and also the chance that he died early to benefit would be even greater

You offered a final expense product for mortgage protection? Why?? You should have offered term life.
 
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