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Most life insurance sales are lost because many agents don't understand the process of closing. Closing a sale is made up front in the fact finding session, not at the end of the interview.
We are going to explain a concept that has worked wonders for insurance agents once they grasped this closing concept. Learning how to use this one of a kind life insurance sales closing method allows you take much greater control and close a larger number of insurance sales.....
Watch this short video on the Closing pyramid concept.
There are many life insurance selling systems out there, but this process is what really separates the really good closers from the mediocre closers, and the sales leaders from the average life insurance agents.
Life insurance sales and selling a life insurance policy can be made easier By learning to ask the proper questions upfront.
How do we do this?
By learning and understanding what we will refer to as the closing pyramid concept. Used properly, it will help you enjoy a higher closing ratio and increase your premium income.
It seems that many insurance sales training programs seem to gloss over what I consider to be the most important aspect of selling insurance, and that is Learning to Listen and Asking the right Questions.
This closing pyramid, that we are about to discuss, is the key to selling and closing more life insurance policies and making bigger and better life insurance sales.
Take the time to read both pages. Don't just gloss over this and expect to learn anything. Study habits require patience and skill.
It is a three step closing process that helps make
life insurance sales easier.
When ever I conducted a class on closing the sale, I was always asked when should you start closing.
Answer: As soon as you walk through the door.
It is shown by a simple courtesy of taking off your shoes, if you see a clean rug or sparkling floor.
You can sit in the living room and then move into a relationship building conversation. Chit chat to find a common bond.
Understand that people like to do business with friends. You have about 10 minutes to turn this cold call prospect into a friend.
At some point you need to take control and say “Mr./Mrs. prospect can we move to your kitchen table. It will be easier for us to view my information, computer, etc. At this point you start the life insurance sales process.
These three areas represent the three parts of the closing pyramid.
These 3 areas are discussed in great detail in the second part of this subject and that link is at bottom of pyramid shown below.
Now we want to start the interrogation process, which I refer to as the closing pyramid process. There are many insurance selling systems out there but this process is what really separates the really good closers from the mediocre closers, and the life insurance sales leaders from the average life insurance agents.
So how do we know what questions we should ask?
The answer is, we ask questions upfront to diffuse many of the objections we normally encounter through out the interview, and that is how this interview questionnaire I call the Confidential Questionaire. was created and fined tuned.
The questions on this form provides you the opportunity to find out what it is that this client actually invited you in their home for, while at the same time setting the stage for a sale.
Most agents walk in the door with a preconceived notion on what they want to sell, such as a mortgage term life insurance policy, a universal life insurance policy, etc. This is usually a form or target marketing.
Sure that works, but if you want bigger Life insurance sales and an ongoing future client, you need to really find out what their goals in life are. From seeing the kids playing baseball to Mom wanting her dream home.
Here is how most agents do it ……………….
They spend 5% in warm up, 20% doing the presentation, then 75% of their time trying to close because they never really found what it was that was going to trip that prospects trigger. In other words they work the closing pyramid upside down.
You absolutely need to spend 75% of your time asking questions and listening to increase your life insurance sales closing ratio.
Learn to Listen to what the prospect says in this questionnaire stage. Define their wants and needs. Many times people are just looking for an insurance consultant to help put them on a path of financial security. They are looking for direction.
Now go to the closing pyramid concept sales presentation.
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