Let me share with you a story of a client who almost waited too long. Each year for 10 years I met with my client to do his insurance review. Each year I tried to convince him of the wisdom of completing his estate planning and purchasing insurance to provide for estate liquidity. Each year he said no. Then one day I received a call asking me to meet him at his home to talk about the insurance I had been proposing for the past 10 years.
My first question to him was what had changed to make him reconsider the insurance. He told me he had just been diagnosed with a terminal disease and now realized he needed to complete the planning neglected over the previous years. And now he wants to buy insurance!
Finding out you are uninsurable does expedite the decision making process. Fortunately, we were able to underwrite a second-to-die policy at a reasonable rate with his wife who was a preferred risk, but he almost waited too long.
No confidence. Sometimes the objection from the client is nothing more than a polite way of saying that he or she has no confidence in your suggestions. Perhaps you didn’t take enough time to properly determine the true problems the prospect was concerned about before you made a sales suggestion. The prospect must be disturbed by a problem before action can be taken. Perhaps your suggestions did not quite fit what the prospect was looking for in a financial solution.
Remember, you must determine your prospects wants, needs and desires, and each of these may require a different solution. It’s your job to ask the disturbing questions to encourage the prospects to discuss what problems are of most concern to them today. Then you can make appropriate recommendations to solve the problems in order of priority. You must earn their trust and confidence by doing what is right for them.
One thing to remember as you go to your next appointment: You can’t sell insurance to people who do not care.
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