Overcoming the "I Already Have Insurance" Objection

[IliaAlpharetta]

What health carriers do you represent? Do you have an experienced manager that is helping you? Do you offer any other lines of insurance?

As far as major medical goes, I am appointed with Aetna, Humana, and United Healthcare. I also offer supplemental, disability, and life insurance (term and whole). And yes, I do have an experienced manager helping me out, but he is also working in the field, and therefore I cannot get all of the help I need from him. Which is why I am asking other agents on this forum for any input they may have.

 

[DHK]

You will ALWAYS get that objection if you are not probing for pain.

Pain = the need to make a change.

If they're happy, there's no pain, therefore no sale for you.

Or, you need to have such an awesome plan that people would have to be completely broke or closed-minded to NOT listen to you.

If you're selling health insurance, you need to probe for pain before suggesting that you should meet to review his coverage.

 

[IliaAlpharetta]

You will ALWAYS get that objection if you are not probing for pain.

Pain = the need to make a change.

If they're happy, there's no pain, therefore no sale for you.

Or, you need to have such an awesome plan that people would have to be completely broke or closed-minded to NOT listen to you.

If you're selling health insurance, you need to probe for pain before suggesting that you should meet to review his coverage.

100% true. But I think it is safe to say that everybody with insurance has a pain. Because ideally, they would like the best benefits without having to pay for them (personally, it pains me to pay a monthly premium). But in reality, they have to settle for what their budget can provide for. As brokers, we have the ability to find them something better for less money. So I think the goal should be to probe the pain in order to get them to admit that they hate paying for their insurance, and once that is done, get them to understand that the first step to easing that pain is by meeting with you. Because honestly, who wouldn't like an extra X amount of dollars each month which they could use for whatever their heart desires?

 

[DHK]

Is their pain big enough to go through the pain of change?

It's like the story of the dog sitting on a nail. The dog is howling and wimpering because he's sitting on a nail, but it doesn't hurt badly enough to get up and do something about it.

Remember that going through a meeting and completing paperwork is a form of pain. It must relieve a LARGER pain for it to be worth it to the prospect. If not, you won't sell them.

 

[gboylan21]

I stopped selling underage health when the whole health care law started, and the fact i liked medicare better. What really works well is in the first 20 seconds of telling why your calling ask a question you can get a yes from.

For example:

Mr. smith my name is mike, i help people who pay for their own health insurance by looking through different companies and giving them the exact same coverage they already have for a lower cost. You would agree paying less for something you already pay for would be a good thing correct?

from there get into the questions you need to quote them. people will still tell you no, but alot of times you can hear it their voice how bad it hurts to say no to that question.

from what your getting in your calls with I am taken care of, it sounds like your giving them a chance to talk before they should.

 

[Tampa Bay Rep]

First of all, don't ask if they are still interested or mention that it has been some time since they sent in the lead.. Treat an aged lead exactly as you would a fresh lead.

That is good advise for working aged insurance leads.

 

[arnguy]

here it goes...

"im glad you see the importance of owning a policy. But (insert lead name here) I am not calling you to sale anything but to provide you with an assessment that is going to discover one of two things.....

WTF. Sounds like you are talking about a boat. You should say "to sell you anything..."

BTW I agree with M&M about the BS factor.

 

[WinoBlues]

WTF. Sounds like you are talking about a boat. You should say "to sell you anything..."

BTW I agree with M&M about the BS factor.

Wouldn't that be sail? As In

 

[TXInsuranceAgent]

Wouldn't that be sail? As In

Yes......that is definitely a sale! lol

 

[insurancejane71]

I have to start by saying, it sounds like your approach is less than ideal and makes things more difficult than they have to be. By targeting people that you know requested information a long time ago AND are telling you they are satisfied with their insurance, you are working less than ideal prospects. Following this strategy rather than working better leads, such as inbound calls coming from direct marketing, will inherently result in lower conversion rates and burn considerably more time. Not only time in the sense of finding a suitable prospect, but also from the perspective of someone telling you they already insurance and are happy will take a heck of a lot more "selling time and energy" to persuade them.

With that being said, you have to identify a pain point for the prospect. Ask them how the policy is currently working for them and what they think could be improved? Could be cost, customer service, claims, coverage, etc.. Perhaps coverage/policies for other lines of insurance. If they can't articulate anything that can be improved, move on. They really aren't a suitable prospect and you are wasting your time as well as their's.