"Well, I want to think it over..."

Good post. Here is my major thought: The prospect is not recognizing your value. Here's what I would define as...

The Essence of the Value Equation

Value = (benefit + worth) - (cost + price)
Notice from this equation that too much hassle diminishes value as much as does too much cost. In other words, it doesn’t matter how much money you’ll save on a dinner cruise if it’s too much of a hassle to drive two hours to board the ship.
So while “value” might not be a major consideration to you ¾ as the person selling the product or service now ¾ in the consumer’s mind, it’s all relative. Some consumers who are prospects for your services have had bad experiences elsewhere you don’t know about. Still others have had good experiences and you don’t know about these either.
Again, value, like beauty, is in the eye of the beholder. This is why personality and communications skills are essential traits.
The other half of the equation is that clients and customers each construct their own consumption experience every time they work with you.
Every point of contact they have, every question or comment, every time you communicate, think of this as a point on a line. And with each impression, this acts as co-producers, or reinforcers of value in their minds. Ultimately, the client is the one who will get the final say of whether you are valuable or not. “Value” is in their eyes, not yours.
Saying they must "think about it," says they are not finding value in your product or in you.


 
There are exceptions, but it can mean they have some objections that they are not telling you about.

You could say:

"I understand. Can I ask you something? I feel that perhaps I didn't do a very good job answering your questions, and therefore you are not comfortable with the policy I am showing you. Is that an accurate statement"?

If they answer "yes"...ask them what they are unclear on. You might be able to get them moving forward and get the deal.

If they answer "no"...they may be putting you off because their bro-in-law, best friend etc. is an agent, or maybe they just don't like you, or who knows what other reason. In that case...try to get an "upfront contract". I would say something like this:

"So that our next conversation can be most productive...here's what we need to do. When I call/come back, let's go over any questions you may have. I will spend as much time as needed to make sure you are comfortable with the policy. Then, let's decide either to move forward or close your file. That way, neither one of us will get hung up in a game of telephone tag. Does that make sense to you"?

This stuff is adapted from Sandler training...
 
I always try to get the App filled out, I never give an exact quote during the initial interview if they buy or not. "John, I have to fill out this App and work on the underwriting but I wouldn't think your premium would be more then XX amount but I'll do my best to beat that price", now I surely give them a high price I know I can beat. I don't need money then, I'm not sending in the App before I have the other documents needed such as the Med Record and having the Paramed Schelduled and if needed an MVR report. Yet though, the money thing is great, give me a small amount now and I give you this "Conditional Reciept" binding coverage for you, if they are smart they'll write me a small check! If not that's okay but they have no coverage and passing up on free coverage even if in the end they back out. In fact I generally don't do the App on larger cases till the Paramed is done, generally I do it at the same time. Plus securing all documents possible and submitting everything together if "possible" does speed up the underwriting process.

I close quite a bit like this myself. I feel like it is not a hard close at all. However, it seems like we always get back to that dreaded numbers game. If we talk to enough people, like John was saying, we will get plenty of yes answers. The no's don't matter as much.
 
For me when someone doesn't buy when I know they should, I take it personally. I feel like I could have done something better. Most of the time thats probably not true, but thats what I think.

When it comes to selling med supps and they say "I want to think about it", I ask them what they are gonna think about, It is my job to help you explain your choices and for there not to be something to think about after I leave. I ask if there is a friend or family memeber that they have to discuss it with. If yes I ask them to go ahead with the app and talk to thier family before I come back with the policy. I explain to them they have a 30 day free look period and they can keep there old policy if they dont want the new one.
 
For me when someone doesn't buy when I know they should, I take it personally. I feel like I could have done something better. Most of the time thats probably not true, but thats what I think.

When it comes to selling med supps and they say "I want to think about it", I ask them what they are gonna think about, It is my job to help you explain your choices and for there not to be something to think about after I leave. I ask if there is a friend or family memeber that they have to discuss it with. If yes I ask them to go ahead with the app and talk to thier family before I come back with the policy. I explain to them they have a 30 day free look period and they can keep there old policy if they dont want the new one.

"If I only gone with Plan B instead of Plan A I would of gotten that sale!" Oh I know that feeling! I do fall back on the "Lets do it while you give it consideration, you know the company has a lot to consider also. So why not get the ball rolling and if you change your mind we can always end it". Now I try to use this if I feel that certain objection is coming before hand, if you use it too late I fear I sound desperate.
 
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