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More Insurance Selling Tips. Closing On The Objection Case Studies.

Insurance selling tips to help you close more sales

This is the continuation of the "closing on the objection" topic page and sharing some actual case studies related to this closing concept.

If you have not read the first page, Selling Insurance by closing on the objection. you should do so now before going on.

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Case Studies:

We went through the entire presentation and when I got to the close “I asked them if they liked what I had just shown them, and could they see themselves enrolling in this life insurance program?

Their response was yes, so I started to fill the paper work out and asked them for the monthly premium. At that time “they said they would have to think about it” because they did not like monthly payments.

I explained to them how we can set this up on a monthly deduction and they would not have to worry about writing any monthly premiums to send out.

They still balked, so I circled back and used the old cushion, bypass methods and reiterated the positive benefits, the cash values, etc, and they kept saying they really liked it, but he kept coming back and saying he don’t like monthly payments.

I was absolutely confused. I must have tried about 5 closes and could not get them to sign up. (He was trying to tell me something and I did not listen close enough to hear what if was really saying)

At some point during this selling insurance interview, I remembered this “closing on the objection” stuff I had read about.

So I said Mr. Prospect “if I understand you correctly, you say you really like these insurance policy for you and your wife and you would like to own them, but you don’t like monthly payments.” (The objection) Can you tell me what we need to do to start this insurance program?

At that point, he said. We use PCA (production credit association) and we make a loan once a year for all our bills and operating expenses till the cattle are sold. If I could pay this on an annual basis we would gladly start the program? (Yup, you can figure out the dumb as rock feeling I had.)

I was focused on the monthly premium concept, because that was the way most hourly and salaried people in town would want to pay.

I really never listed to what he was really saying and if I did use the “closing on the actual objection concept”, I would have walked out of that house without a sale. Eventually they became one of my best clients. I made sales to all their kids, done an estate plan with several policies, health insurance, retirement programs, etc.

Here is what I learned and what I now say.

“Mr./s. prospect, if I understand you correctly you are telling me the reason you don’t want to start this program today is because you (repeat their objection)

(Always restate their objection) We all know that communication or mis-communication is a serious problem.

How many times have you said something to your spouse or significant other and it was misinterpreted.) In other words what I said and meant and, what you thought I said were actually two different things. Sometimes called selective hearing, because we do not listen to the whole conversation or sentence.

The above case study is a clear example of why you should learn to close on the objection and learn to listen to what he or she is saying, it gives your mind some time to re-boot and think about what they really are saying, so you could properly respond to the objection/concern.

As time went on, and the more I used this "closing on the objection concept," the light bulb finally came on, and I realized what the author of that program was trying to tell me.

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Learn to close on the objection and it will help you make more sales.

That is why you need to listen very closely to what people are saying when you start to close. They may some say something like I don't want all the money going to my children, or my wife. Maybe they really want to set up a monthly income for the wife.

Some other Objections

Another case study: As usual, I completed my presentation and then moved into my first close with the prospect. He then came back at me with “I don’t want to leave all that money to my wife."

At that point I could have started going into my cushion, bypass, and second story closing technique I was thought in school. I would have come back with all the reasons they should own a policy on his wife with the two children and so.

However, I came back with Mr. prospect, “if I heard you correctly you said you do not want to leave all that money to your wife” is that correct. He answered. That’s right. Can you tell me why?

He responded by saying that she is not very frugal with her money and he would rather have it paid out as she needed it rather than one lump sum. Needless to say, I used the monthly income option to close the sale. He could always change it later. I closed on his objection.

I hope this topic page will give you a little insight as to what we are talking about when it comes to talking about closing on the objection.

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