Concept selling vs Product selling
Insurance selling sales tip

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the art of Concept selling vs Product selling is a selling skill that unfortunately most insurance agents have not mastered. Because of this, they will continue to struggle in the life insurance business. Learning how to use concept selling along with power phrases and painting word pictures  will maximize the sale of your insurance products and will greatly help with your closing ratio.

Understanding the how and why of Concept
Selling vs Product Selling.

Known facts: 

Life Insurance agents that use concept selling methods will:

  •  have a much easier time marketing their products. 
  •  make more sales.
  • Have a greater retention ratio.
  •  have a much greater chance to get referred leads.
  •  make higher premium sales resulting in higher commissions. 

  • get more interviews when calling on the phone

Life Insurance agents that use concept selling methods make it easier for the client to understand how the insurance product solves their problem. It is a form of target marketing. You target your presentation to a specific need. 

Concept selling vs Product selling. So what is the big difference !

The number one thing when using Concept selling vs Product selling is that it creates a form of communication that gets the prospects attention. You are communicating an idea that makes more sense for your prospect to understand and relate to. In other words, it becomes more palatable to the prospect.

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 $2,700 per year."

What did your prospect actually hear you say?-- Life Insurance - another $2,700 year payment or another bill.

(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 each year, equal to the interest on the $200,000 in cash that your heirs will need to pay for your estate tax ‘s when you die.  and the great part of this concept is that when you die, unlike a bank, your heirs will never have to pay back the $200,000.

Additionally, as time goes on you will have access to a percentage of that money that you set aside each year, which can be borrowed for emergencies during your lifetime.

Mr. prospect, is this an idea that you think is worth 15 minutes of your time to investigate so that you can help keep your estate intact for your heirs and keep the government from possibly coming in and dictating terms of how your estate should be settled.

What did the prospect hear in this concept approach?

That he was successful person,

This was an easy way to create the money to pay his estate tax,

He only was required to pay a small amount of interest each year,

He has the option to possibly borrow back some of that $200,000 in later years,

It was a good way to keep his estate intact.

He would let his heirs control the settlement and not the government.

So which method do you think would get the prospects ear?
And more importantly, what did you actually hear?  

Use our free life insurance selling forum page to ask questions on this subject.

Here is an example of the one favorite one that i used:

Mr prospect, i am in the business of selling money at a substantial discount that can help you take care of some of the financial obligations you have in life. One of those is making sure your family stays safe if some unforeseen event took you out of the picture. Would this be an idea you might like to hear a little bit more about. (Read article below for more information on how to use this concept.)   

Below are 3 Concept selling vs Product selling ideas that i developed. Take a moment to review them and you will see what concept selling is all about. You will get a better understanding on how to approach and develop your own selling concept ideas. 

I hope that this overview on concept selling vs product selling, will help you close more sales. Check out the rest of our site for other insurance selling sales tips and techniques.

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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