Overcoming Objections

May 8, 2019

  1. DI Guy
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    DI Guy New Member

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    I am assuming that price is the big objection, but what other reasons have clients given for not buying?
     
    DI Guy, May 8, 2019
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  2. somarco
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    somarco GA Medicare Expert

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    If an agent is getting objections over price or anything else any one of a number of things have gone awry.

    • prospect was not properly qualified therefore they are not really a prospect
    • prospect does not agree there is a need for your product
    • prospect does not believe your product will solve their problem
    • prospect does not like you
    • prospect does not trust you
    • prospect cannot afford the product therefore they were not properly qualified
     
    somarco, May 8, 2019
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  3. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    The #1 reason for objections is that they don't see or acknowledge the emotional consequences on themselves and their family for NOT having insurance, should an eligible claim situation arise.

    The #2 reason is that they'd rather use the premium (remember that the premium is the solution to the #1 problem)... on something else. It's the "unspoken alternative of choice".

    The solution to handling these objections are:
    1 - help them see and discover for themselves by asking quality questions so they sell themselves.
    2 - help them find MORE than the premium in their current budget.
     
    DHK, May 8, 2019
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  4. VolAgent
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    VolAgent Guru

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    Since this the DI forum, I would add 1a to what DHK wrote.

    They refuse to accept that something can happen.

    Ignoring those who will soon be disabled, only two groups are in touch with the realities of disability and the need for insurance.

    1. Blue collar, physical labor occupations (Due to the high likelihood of disability the insurance companies have to limit benefits and price accordingly).

    2. Certain white collar professionals that have had the need beat into their heads (Medical and legal are probably the two who are most indoctrinated in the need).

    After that, most people really refuse to accept something can happen, and those who do believe what they have through work, if even offered, is sufficient.
     
  5. Life Hawk
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    Life Hawk Guru

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    Your back to the emotion of the sale. Very important because there is a perceived risk, but you must determine and help them determine what is an acceptable risk and what is not. Also is how that risk would impact and effect their loved ones.

    Less of, "How much are you willing to pay?"... and more of "How much can you (your family an loved ones) afford to loose?"
     
  6. VolAgent
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    True, but it goes a bit deeper. Its not just, they can't grasp the realities of the impact a disability will have on their family, they can't even grasp being disabled in the first place.

    If they can't come to grips with the idea of being disabled, then the impact of one is meaningless. With DI, you need to move a bit further up the funnel to start. That or find people who grasp realities, but haven't taken action yet.
     
  7. somarco
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    somarco GA Medicare Expert

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    A friend used to sell a fair amount of DI this way.

    If you were hit by a Coca-Cola truck and could not return to work, would you sue?

    Of course!

    How much would you ask for?

    Millions!

    What if some geezer driving a old beater hit you, and you could not return to work. Would you sue?

    If he had insurance I would.

    How much would you ask for?

    As much as I could get.

    Why would you sue a Fortune 100 company and an old geezer because you could be disabled in an accident, but you won't set aside a few dollars per month in case you fell down the stairs and could no longer work?
     
    somarco, May 9, 2019
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  8. DI Guy
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    DI Guy New Member

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    I love your question; and the 'would you sue' part goes all the way back to the schoolyard where we would threaten 'you'll pay my doctor bill' when another kid would throw rocks or start a fight.
    Of course suing falls down when it's an illness that knocks a client out of the rat race.
     
    DI Guy, May 9, 2019
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  9. somarco
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    somarco GA Medicare Expert

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    When I am talking to prospects I RARELY mention illness. Hardly anyone, especially folks under 60 or so, think they will get sick. But you don't get much argument when talking about accidents.

    Living in Atlanta where it seems like there is a car fatality almost every day I use the "suppose you are going down 75 and a truck runs over you" story. Even the most careful driver will readily admit they can be involved in an accident through no fault of their own.
     
    somarco, May 9, 2019
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  10. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    If you have a list of disability claims, you can say that these people never anticipated getting sick or injured either.

    14319 - Recent Claims - The Standard DI1.jpg
     
    DHK, May 9, 2019
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