Owning what you’re selling

[somarco]

Captive shops can be big on getting new agents to take out policies on themselves in the name of "believing in what your selling" to help you sell.

MLM companies do likewise.

How can you sell Amway soap unless you use it yourself? The "personal testimony" pitch.

Doesn't make much sense when talking about life insurance. You can't prove it works as long as you are alive and very difficult to make your weekly quota when you are dead.

There are plenty of agents selling Medicare plans that are 30 years away from Medicare eligibility. Some will talk about selling the same plan (or something similar) to their parents or grandparents. I suppose that helps close the sale but I doubt it.

If owning what you sell gives you more confidence then go for it. But as Bevo pointed out, if your prospect does not trust you it really doesn't matter how many policies you own because you are not going to make the sale.

 

[goillini52]

MLM companies do likewise.

How can you sell Amway soap unless you use it yourself? The "personal testimony" pitch.

Doesn't make much sense when talking about life insurance. You can't prove it works as long as you are alive and very difficult to make your weekly quota when you are dead.

There are plenty of agents selling Medicare plans that are 30 years away from Medicare eligibility. Some will talk about selling the same plan (or something similar) to their parents or grandparents. I suppose that helps close the sale but I doubt it.

If owning what you sell gives you more confidence then go for it. But as Bevo pointed out, if your prospect does not trust you it really doesn't matter how many policies you own because you are not going to make the sale.

I was 45 years away from Medicare when I sold my 1st Med Supp. Like you and Bevo said...the prospect has to trust you.

 

[somarco]

I was 45 years away from Medicare when I sold my 1st Med Supp.

You must have started selling right after LBJ created Medicare and the Great Society

 

[Migshannon]

I see this come up every so often. What are your thoughts about having a policy with one of the companies you tend to write.

Utilizing it on occasion for visual purposes, post closing, and just building on what you're already doing.

I definitely carry the competitors mail order marketing material but I'm wondering if there would be some validity in showing someone after you close the sale

"look this is what you'll be getting in the mail in a few weeks!"

Thoughts?

At first, it sounds a little desperate. However, if you present it accordingly it should come across sincere. I mean...you already have their trust. Also depends on your age. Is a final expense policy the right insurance for you?

Ask the insurance carrier to give you a mock policy. This may be a good Idea to show the client, let them hold it in their hands. Show them where their name will be and face amount etc... Tell them to watch for it in the mail.

But then, what are you gonna do, carry a mock policy from every company you're appointed with?

I carry competitors insurance products like AARP, Colonial etc..The ones they have seen on TV. I do not bring that info out in every sale, just if the clients bring it up.

IDK still sounds a little desperate, like the agent has something to prove or not confident in their sales ability.

Keep us posted on how it works for you.

 

[goillini52]

You must have started selling right after LBJ created Medicare and the Great Society

Nope, I started when Medicare was 7 years old. I couldn't legally drink beer(but did it anyway), but I could sell Med Supps to the old fogies....and now I'm an old fogey.

 

[JimmyCrappedCorn]

There are plenty of agents selling Medicare plans that are 30 years away from Medicare eligibility. Some will talk about selling the same plan (or something similar) to their parents or grandparents. I suppose that helps close the sale but I doubt it.

I've worked that skit for years. It works ridiculously well. It looks good that you have a relationship with your dear old parents and you are looking after them. For a nice touch you pull out the the half inch thick binder full of EOB's and show them some mega bills and tell them how it was all paid for by the company and poor old Dad didn't pay nothing. Those old people lap that stuff up like kittens do warm milk. I did not set out to create this scenario it just all happened and I rolled with it. It adds a nice touch no doubt about it. Years later when I talk to clients they all say Hows your Dad doing? Hows your Mom these days?

 

[Agentguy5]

When I first got into Life Insurance sales, I would carry a copy of my own policy with me to show during presentations.

Stopped doing that once I got more confident and better at closing sales!

 

[Rearden]

When I first got into Life Insurance sales, I would carry a copy of my own policy with me to show during presentations.

Stopped doing that once I got more confident and better at closing sales!

Interesting. While I advocate props for new agents, I personally don't.

Just a pen, a clean sheet of paper, and me.

 

[PaulieD]

I sell a lot of RNA and I do show the discount card with my (name +family) on it to show how easy it is to use those extra free benefits.....and show that I am actually a card carrying member myself.

 

[shonceman]

I sell a lot of RNA and I do show the discount card with my (name +family) on it to show how easy it is to use those extra free benefits.....and show that I am actually a card carrying member myself.

Since you're representing a fraternal, you're not just selling a policy, you're inviting them to become a member. Your own membership card probably does help with credibility in those cases.