Comments for Getting Customer to make that first months premium at point of sale

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Collecting weekly premiums upfront.
by: Teds


I guess the first thing I would do at closing is firm up the sale and get their complete agreement.

Then after you do your close, and firm up the sale, then tell them that the company you represent only collects premium deposits on a monthly basis. Because of this all my clients have had to adjust their cash flow and paycheck budgets to meet their criteria.

and then what I use to do, was ask people for a check that you would hold and submit at a latter date, like 2 weeks from that time, as a convenience to help them get started. You may want to check with your manager on this concept first.

The other thing I would do, and this is one of the reasons I created my confidential questionnaire, is use some of the questions in my confidential questionnaire, especially the one about setting aside money, and you need to do that before you even start your presentation.

Read the article on using the confidential questionnaire on my web site. Go to my main page and use the search box. This article will teach you how to close the sale upfront, not at the end.

Hope this helps.


Re: First month premium.
by: John (Auckland, NZL)

Hi Ted John here,
I fully understand where Sarah is coming from and it seems to me that the financial system America has in place is more different than the system we have here in New Zealand. What I mean is that we pay rent, power bills, water rates or in this case Our insurance on a weekly basis, rather than a monthly term because we get paid weekly not monthly. The problem is that our insurance company that we work for is an American insurance company so the same rules apply and we need to collect the first four week's in advance. I've been building rapport, ask them if what they're going to be paying ( weekly ) is not over committing them, painting word picture as well but maybe they're not big enough. They agree with it all and I convince my self that they will sign up. It's the four week's in advance is what gets to them and they seem to be overwhelmed with the amount and that cause the sale not to go through. What more can I do to make sure that they will signup on the day, or within the next 7 ( assuming on their pay day ) ? Thanks Ted.

Thanks Ted
by: Sarah

Really excited and will definitely be using that technique over the next few days, will report back on the outcomes.

Collecting premium at point of sale.
by: ted


Ted here,

I assume you are using a target marketing approach called the single needs sale vs the more advanced financial needs analysis whereby you gather up information about the client.

First off, you may want to go to my article called confidential questionnaire and read that. You can make up your own. One of my key questions was made right up front and that was if i could show you an idea today that you like, what amount of money could you force yourself to set aside each month? If they could not give you a dollar amount, then I would close my presentation. If they did then you can come back to this at the close. You really need to read my article on the confidential questionnaire, as it explains all this. There are several articles on closing the sale that you should read.

When it comes to not getting that check/money at point of sale, it is usually the result of a number of things. Along the way you need to be making comments to tie down the sale. As an example: Mr prospect can you see how this idea will help you take care of your final financial obligations, can you see this plan doing this, that, Mrs prospect what do you think?, etc. You need to get them to start saying yes to a series of small questions and then it will be easier for them to answer yes to the big question.

Another method I used, was to tell the people we will set up an account in their name and each month we will transfer $XX dollars to this account to make it easy for you to initiate this valuable service.

Hope this helps. let us know how you do.


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