Tell me.... how do u sell Life Insurance

[James]

The problem with health, its rather complex and most already have it! At least the people worth talking too!

The best way to sell life insurance is via the DB, while some of us are having a discussion about BOLI or COLI (I just had to throw that out, I'm sorry) the simplest and best way to sell Life Insurance is via the "Promise" or the "Guarantee". Depending upon if you are selling Term or WL, I don't know what to use for if you are selling UL's! I suppose with a UL we can use the word "Maybe", just kidding! Lighten up people!

Okay, you wanna sell life insurance and meet that all important quota, may the quota be self imposed or company imposed?

Personally, I think small businesses are great! So what does that involve? I suggest a plan to hit at least 30-50 daily, in person! In other words, at 6AM thru 10AM and 4PM thru 6PM for most. I beleive in this as in my expierence the owner is the first to arrive and/or the last to leave. In between those times, hit the phones!

Walk in with a brochure or brochures and ask for a good time to sit down and talk. Of course you should have a product and a usage depending upon whatever they may say, I don't know what that may be if you go in without a script of some sort. I like the 5 Way myself but I'm quilty of not using it 100% of the time myself. Its a rather in your face type of approach, but IMHO that is better then a passive approach. The 5 Way by Meisel goes like this for the most part:

Dear Mr Owner, one day you will be out of your business one of 5 ways,

1)Death
2)Disability
3)Retirement
4)Voluntary Sale
5)Bankruptcy

Now I'm here to offer you a solution that no matter how you leave this business you leave with the largest amount possible. Would tomorrow at 10 am or Wed. at 1:00 PM be better for you?

Now the idea is to act like you know what you are doing and having the ability to steer a conversation in a positive manner doesn't hurt either! Basically what you wanna do is to ask a question to get the prospect thinking and agreeing to sit down with you. Now what you gotta do IMHO is to figure out what the prospect is saying, which isn't so straight forward, listening skills are required.

Ps, we are still on holiday time and I might of had a few, aint telling!

 

[squarebiz]

I really hate to say who I work for because I don't think I'll be there much longer. I see now that this place has no real training. The only thing I will say is that it's a torchmark company. I've read some of the posts about them and I am seeing the truth.

Please tell me who is a good independent Health insurance company to work for?

 

[J.R.]

I really hate to say who I work for because I don't think I'll be there much longer. I see now that this place has no real training. The only thing I will say is that it's a torchmark company. I've read some of the posts about them and I am seeing the truth.

Please tell me who is a good independent Health insurance company to work for?

Well, I'm coming down in April to check out some real estate and a few other things so you can wait until then if you'd like. Joking aside, what areas do you feel you aren't being trained on properly and what's your business experience?

 

[Survivor]

I really hate to say who I work for because I don't think I'll be there much longer. I see now that this place has no real training. The only thing I will say is that it's a torchmark company. I've read some of the posts about them and I am seeing the truth.

Please tell me who is a good independent Health insurance company to work for?

UA or Liberty National?

Is Lance your boss?

Yeah, UA sucks and Liberty National is a sinking ship from what I understand.

 

[Lloydlofton]

The first thing to remember is who's business are you running, yours or hers? She needs you more than you need her, the reason the office "needs apps" is the manager will not get overwrite unless business is written.

Focus on what you need to do not what she needs you to do.

Let's talk activity plan.

You need a formula you will work:

50 names will get you
24 contacts...will get you
10 possible appointments.... which will actually be
8 presentations (prospects only lie when they move their lips)..result
2 sales

So quit thinking sales and think activity.

Now that you know some basic numbers start with going to every small business in strip malls and exchanging business cards, go to Info USA http://www.candaceanderson.citymax.c...ge/2096334.htm and buy a 1k small business list in the county you intend to work (cost about $100 or so) and spend each Monday calling from this list and schedule 10 appointments for the week.

Keep a separate list of all "I want to think about it, send me something," etc. then when you are out running your appointments stop by these places with a brochure, when they say "I thought you were going to mail it" say " they did, they mailed it to my office and I brought it to you." remember the goal of this "walk & talk" is to schedule an appointment not to sell so don't talk product or company.

People like two things, they like to hear their name and they like their opinion asked so when they say "I just bought insurance" don't fight with them, build your business by building your calendar.

"Great, it's important to have health insurance and I'm glad you got this protection, by the way who did you get it with? Oh great, that's a good company, do you mind if I ask what kind of plan you got? And about how much are you paying monthly for it? What objection do you have if I call you in the next six to nine months to see if we can increase your benefits or lower your cost?"

Most people will say yes, either to get you off the phone or because most people want to compare cost. And guess what will happen in the next six to nine months...they will get a rate increase and be more open minded.. and now you have some activity on your calendar for the future.

The truth is unless you are in front of people you have little chance of making it in this business so my council is not to look for short cuts, you will develop your own as you start building your business, get in front of people, practice your approach, your presentation and assume the sale because in every presentation (on the phone for the appointment or in person) a sale is made, either you buy their reason for not seeing you or taking your plan out or you help them buy a solution. So don't sell them, help them buy!

Keep in mind, the product is a solution, a solution solves a problem and the only way to solve a problem is to ask questions so stop selling and start asking questions.

Good luck!

 

[J.R.]

From what I can see Lloyd it would appear that you are the the "set the appointment and qualify and sell them AT the appointment." Do I understand your approach correctly? I was taught a similar approach when I first started with UGA, and have to admit I no longer visit anybody without getting what I want and need first. I'm curious to hear your thoughts given your background. BTW, I would like to thank your generation for Disco!

 

[Lloydlofton]

From what I can see Lloyd it would appear that you are the the "set the appointment and qualify and sell them AT the appointment." Do I understand your approach correctly? I was taught a similar approach when I first started with UGA, and have to admit I no longer visit anybody without getting what I want and need first. I'm curious to hear your thoughts given your background. BTW, I would like to thank your generation for Disco!

Your welcome for disco, without it what would we have to laugh about now, can't beat rap I guess?

I don't know if I necessarly have an "approach", I do believe in investing Monday making calls to set appointments, the way I learned the business so goes Monday goes the week. So I set 15 appointments a week on the phone, I don't stop making calls till I have my 15 appointments. After that I believe in both the walk & talk and winning the community.

I arrange my appointments around a zip code each day, take all "think about it, mail me something, just bought" and use these to fill in around my appointments. I stop at strip malls and put "take one" boxes in and work referrals. So I don't know if my approach is "phone" however I do believe in breaking my activity down into steps.

The phone call is to make an appointment so that is what I do, no health questions, product talk etc untill I get the appointment. I find people like two things, they like to hear their name (I use it 5 times in the script) and they like to have their opinion asked. So for example on a telemarket lead.."Hi, Bob. Bob this is Lloyd Lofton with Insurance Brokers 4U and you recently spoke to Jane about increasing your benefits or lowering your cost of your health insurance.

Bob the reason I am calling is to let you know I will be in your area Wednesday and I can see you at 6:15, will you be in? Great your address is 4215 Tennesse Ave, do I need a cross street or can I google that Bob? Great I'll see you Wednesday at 6:15, by the way, Bob before we hang up let me ask a couple of questions so I can be better prepared.."

Yes people say no they won't be in so I ask when they will and continue with the script, they say mail me something and I say I will see something get's out to them then I stop by when I am working the area and when they say "I thought you were going to mail it" I say "they did, they mailed it to me and I brought it to you, may I come in". If they have insurance and don't want a quote I agree with them "Great, it's important to have insurance, what company are you with. That's a good company, what kind of plan do you have? And about how much a month are you paying? Great, Bob what objection do you have if I can you in the next six to nine months to see if we can increase your benefits or lower your cost?" Most people say ok, either to get me off the phone or they want to compare. I at least get my calendar booked ahead and always have activity to go on.

So after I get the appointment then I ask my basic health questions and check that the spouse will be there. The reason I do this is I am calling to make an appointment, not sell insurance. Just because someone may not qualify for a health plan does not mean they won't for Life, CI, etc. The truth is I don't really care what the answers are, unless I am in front of people I probally won't write any business, so I only ask questions to rule people in, not to rule them out, I may write health when I get there, or life, I may take the wife and kids off a group plan and put them on their own policy if the primary has health issues (the premium he is paying for dependent coverage often covers this), or I may recommend they keep what they have, raise the deductible and sell a supplemental with the premium saving. I may recommend they just keep what they have and piviot to life, someone from 40 to 55 (I'm 53) could have an older life policy with cv and could get same or more life now (depending on health) and we could do a 1035 transfer or asset transfer and get them life or their spouse.

I also work the senior market and I find most of my clients in the 35 to 55 age group usually have parents and I ask for referrals. The reverse is also true, my senior clients have kides in the 35 to 50 age brackets and I ask for referrals there.

So again I don't know if I have an "approach" rather than a plan. I believe in activity and after making my calls on Monday I am in the field. I create a dalily activity plan, review the plan each day and make adjustments as needed. I network with P/C agents, CPA's, attorneys, and BA clubs.

I believe we all do what we "will" do and what works for us, this works for me. I realize there are other ways and that's why I like to learn from others.

Thanks to your generation for bringing back the blues music and keepng the old guys alive (Rod, Mick and of course BB). (This may have been more than you asked)

 

[J.R.]

Your welcome for disco, without it what would we have to laugh about now, can't beat rap I guess?

I'll listen to Snoop, but the other stuff is for shizzy-ma nizzy.

I don't know if I necessarly have an "approach", I do believe in investing Monday making calls to set appointments, the way I learned the business so goes Monday goes the week. So I set 15 appointments a week on the phone, I don't stop making calls till I have my 15 appointments. After that I believe in both the walk & talk and winning the community.

I have a similar approach. What state you work in?

I arrange my appointments around a zip code each day, take all "think about it, mail me something, just bought" and use these to fill in around my appointments. I stop at strip malls and put "take one" boxes in and work referrals. So I don't know if my approach is "phone" however I do believe in breaking my activity down into steps.

What do you mean by taking all the think about it, mail me something, etc.
to fill in around my appointments? Are you referring to stopping by their business or residence, or am I missing something?

The phone call is to make an appointment so that is what I do, no health questions, product talk etc untill I get the appointment. I find people like two things, they like to hear their name (I use it 5 times in the script) and they like to have their opinion asked. So for example on a telemarket lead.."Hi, Bob. Bob this is Lloyd Lofton with Insurance Brokers 4U and you recently spoke to Jane about increasing your benefits or lowering your cost of your health insurance.

Bob the reason I am calling is to let you know I will be in your area Wednesday and I can see you at 6:15, will you be in? Great your address is 4215 Tennesse Ave, do I need a cross street or can I google that Bob? Great I'll see you Wednesday at 6:15, by the way, Bob before we hang up let me ask a couple of questions so I can be better prepared.."

Very nice approach.

Yes people say no they won't be in so I ask when they will and continue with the script, they say mail me something and I say I will see something get's out to them then I stop by when I am working the area and when they say "I thought you were going to mail it" I say "they did, they mailed it to me and I brought it to you, may I come in".

Do you take this approach at their business or residence. It seems as though you have the road warrier down.

If they have insurance and don't want a quote I agree with them "Great, it's important to have insurance, what company are you with. That's a good company, what kind of plan do you have? And about how much a month are you paying? Great, Bob what objection do you have if I can you in the next six to nine months to see if we can increase your benefits or lower your cost?" Most people say ok, either to get me off the phone or they want to compare. I at least get my calendar booked ahead and always have activity to go on.

Hmm, I'm confused here. In your previous post you talked about stopping by and asking them about their insurance and now you talk about qualifying a person on the phone.

So after I get the appointment then I ask my basic health questions and check that the spouse will be there. The reason I do this is I am calling to make an appointment, not sell insurance. Just because someone may not qualify for a health plan does not mean they won't for Life, CI, etc. The truth is I don't really care what the answers are, unless I am in front of people I probally won't write any business, so I only ask questions to rule people in, not to rule them out, I may write health when I get there, or life, I may take the wife and kids off a group plan and put them on their own policy if the primary has health issues (the premium he is paying for dependent coverage often covers this), or I may recommend they keep what they have, raise the deductible and sell a supplemental with the premium saving. I may recommend they just keep what they have and piviot to life, someone from 40 to 55 (I'm 53) could have an older life policy with cv and could get same or more life now (depending on health) and we could do a 1035 transfer or asset transfer and get them life or their spouse.

Gotcha. You basically use the appointment as a fact finding mission to probe and ask questions, whereas people like me do that beforehand and sell on the phone. Now, that I think about that, I do follow a similar approach. It must be the face to face meetings that are throwing me off. I

 

[somarco]

go to Info USA http://www.candaceanderson.citymax.c...ge/2096334.htm and buy a 1k small business list

Apparently none of the moderators bothered to check the hyperlink .. .

 

[CHUMPS FROM OXFORD]

Nice link. She does appear to be the breast...ehrrr, I mean best at what she does...