What is the difference between concept selling and product selling?

Unfortunately most insurance agents that have not mastered the art of concept selling will continue to struggle in the life insurance business. Learning the use of these power phrases that maximize sales will greatly help your insurance career.

Known fact: Life Insurance agents that use concept selling methods will have a much easier time marketing their products.

So what is the big difference in concept selling verses product selling?

The number one thing in concept selling is it that it creates a form of communication that gets the prospects attention. You are communicating an idea that makes more sense to them. Lets look at the two contrasting examples:

(Example # 1: The basic product selling approach)

"Mr. prospect, can you see how this $200,000, life insurance policy will provide the money to pay your estate tax and the premium is only $2700 per year."

What did your prospect actually hear you say? -- Life Insurance - a $2,700 year payment


(Example # 2: The concept selling approach)

Mr. Prospect, I would like to show a unique estate planning idea. I call it the wealth protector plan.

This wealth protector plan lets successful people like you pay a small amount equal to the interest on the $200,000 that your heirs will need to pay for your estate tax ‘s when you die, and when you die, unlike a bank, your heirs will never have to pay back the $200,000.

Additionally, a small percentage of that money can be borrowed while your setting it aside during your lifetime. Mr. prospect, is this a idea and a concept that you think is worthwhile investigating/getting started so that you can help keep your estate intact for your heirs.

What did the prospect hear in this concept approach?-- That he was successful person, an easy way to create a fund to pay his estate tax, and only having to pay a small amount of interest each year, with the option that he can possibly borrow back some of that money, and an easy way to keep his estate intact.)

And more importantly, what did you hear?

Which method do you think would get get the prospects ear?

For more ideas on concept selling and other insurance selling sales tips and techniques click here.

Have a great day.


P.S. Liked what you see. If so, pass our site along to another agent or your agency training manager. They will appreciate it.

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