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read the additional content below for more specifics.
Overcoming Insurance Selling Objections can be hard or easy. It depends on what tools you have at your fingertips that can make a difference.
When we are out selling life insurance or any other product, as noted in my video, people have a greater tendency to believe 3rd party stories or 3rd party information.
It is human nature. That is why their is such a thing as testimonials. People have a tendency to have more belief in someone else that used the product or had a real life experience in something rather than you just saying it.
I learned this through my years of selling. early on, i always had a problem with closing sales like we all do.
i had read an article about where a father left a large amount of insurance money to his wife with specific information to make sure a certain amount was set aside for his girls college education. However, she married a real estate guy and this person talked the into using the money to invest in real estate and they would keep the profit and put the original money back into the college fund. End result was bad. The investment went sour, they lost all the money and none of the 3 girls had any money for college. I used this article to sell people on the idea that they need someone like me to help them plan their financial life properly.
So over time, when ever I was reading a newspaper or trade magazine and seen something that i could see myself using in a closing situation or during a sales interview, that could be used as a rebuttal to the many different objections i ran into, i would cut that article out and include it in my third party book.
as time went on, i created different sections in my 3rd party book related to certain sales situations. I eventually found that there were several key articles that fit almost every situation.
Get started today and build your own 3rd party book.
Overcoming life insurance selling objections is a challenge for every insurance agent. Just like anything else it is a skill acquired over time.
the number one and most important thing to an objection is to restate the objection, then cushion it, and thirdly tell a second story.
Restating the question is a way for you to make sure you and the prospect are on the same page, and at the same time gives you a chance to thik and come up with a proper response, instead of blurping out something stupid that may not even apply to the objection.
So lets say the prospect says I want to think it over. Mr Prospect, if i understand you correctly you say you want to think it over, is that right.
if i may ask, what is that you want to think over? Wait for the answer.
Now you can come back with an appropriate response.
1. I CAN'T AFFORD LIFE INSURANCE.
2. I WILL BUY LATER.
3. I CAN INVEST MY MONEY BETTER ELSEWHERE.
4. I DON'T WANT ANY MORE LIFE INSURANCE.
5. I HAVE ALL THE LIFE INSURANCE I NEED.
6. I AM NOT CONCERNED ABOUT LIFE INSURANCE.
7. I WANT TO THINK IT OVER.
8. I WILL BUY TERM AND INVEST THE DIFFERENCE.
9. WHY SHOULD I PAY INTEREST ON MY OWN MONEY!
10. I DON'T LIKE LIFE INSURANCE. YOU HAVE T0 DIE TO WIN.
11. I AM TOO BUSY TO TALK TO YOU.
12. I WANT TO LOOK AROUND FOR THE BEST INSURANCE COMPANY.
13. LIFE INSURANCE IS TOO EXPENSIVE.
14. THERE IS SOMEONE I WANT TO TALK IT OVER WITH.
15. I HAVE GROUP INSURANCE.
16. I DON'T NEED INCOME REPLACEMENT.
17. I CAN GIVE YOU A REFERRAL BUT DON'T TELL THEM I SENT YOU.
18. I AM SINGLE. I DON'T NEED LIFE INSURANCE.
19. I WILL GIVE YOU A CHECK WHEN YOU DELIVER THE POLICY.
20. COULD I PAY THE PREMIUM MONTHLY, RATHER THAN ANNUALLY?
21. I HAVE A FRIEND IN THE BUSINESS.
22. I HAVE OTHER FINANCIAL COMMITMENTS.
23. I DON'T WANT TO LEAVE MONEY FOR SOME OTHER FELLOW TO SPEND.
24. I WILL GET A PENSION WHEN I RETIRE.
25. I REFUSE TO PAY FOR A RATED POLICY.
26. I DON'T NEED A FINANCIAL ANALYSIS. I JUST WANT A SMALL POLICY FOR THE BABY.
27. I AM ALREADY WORTH MORE DEAD THAN ALIVE.
In every case you restate the objection. Mr prospect, if I understand you correctly, you are saying or you said .......
I would then provide a rebuttal using an article in my third party book. in many cases, I usually had three or four articles that fit the entire gamut of the above objections.
As you gain experience in selling and if you are a good record keeper, you will be tracking every objection that you lost a sale to. Over time you will start seeing a pattern. That pattern being that most objections can be rebutted with 3 or 4 closing stories or 3rd party articles.
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