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Life Insurance Sales Tips and Techniques



In the sales world of insurance companies, the sale of life insurance is in a class of its own. Most insurance customers are comfortable paying for health, car and home insurance because they are either legally obliged to do so or are seen as more immediately valuable. Often both are true. But when it comes to life insurance, many consumers do not see the value in paying monthly for a service they will never use in person. This problem is even more obvious during lean economic times.

Still, life insurance can be a lucrative product to reinforce in your insurance companies' sales campaigns, but you need to know how to sell it. Fortunately, that's exactly why we wrote his article.

Here are the best tips and techniques for selling life insurance.

Sales Presentations

No list of sales tips for life insurance would be complete without mentioning the sales presentation for life insurance. Your life insurance presentation is your opportunity to show your potential customer why they need life insurance and what type of insurance you can offer them.

Your life insurance presentation should include statistics on life expectancy, cost of living in the event of death or disability. to themselves or loved ones, how much money it takes for children to go through college nowadays, etc. These facts are all important when trying to sell life insurance because they actually show people why life insurance is a good idea for their family's safety

Your life insurance presentation has an end goal: get the customer interested in the product and want more information. Once and only once the interest is established, you should enter the stage of your sales argument.

Consultative sales technique

Consultative sales for life insurance is about asking the right questions to find out exactly what type of life insurance your customers are looking for. after. If you do not ask what they want in their life insurance ̵

1; such as health or non-life insurance, coverage for job loss due to illness or injury, or just traditional life insurance that covers the loved ones they may leave behind one day – How do you know what type of life insurance you should sell?

Concept sales

Another good sales strategy for life insurance is concept sales. Your goal as a life insurance consultant is to get your client to think about certain life insurance concepts, such as life expectancy that can help them determine how much life insurance they need, or financial stability that is crucial to life insurance planning. Once these concepts have been introduced and addressed, your potential customers will begin to see life insurance in a new light.

How to handle objections

Objections are common when selling life insurance. Many potential customers will either say that they do not need life insurance, or they can not afford life insurance. These objections are common but many life insurance providers do not know how to handle them.

A very transparent life insurance sales technique is to address the reasons why life insurance is beneficial even if you never use it yourself (or lose a family member). Even if customers do not plan to use life insurance themselves, they are likely to want to stick to their insurance so that when loved ones pass away, money will be there to cover funeral expenses and other financial obligations.

This covers the "do not need" objection. To address the "can not afford" objection, paint the picture of how affordable life insurance is. In fact, it is one of the cheapest types of insurance, regular or not.

Close the objection

A tip on selling professional life insurance is to use your potential customers' objections as a resource to close the deal. You do this by repeating the objection, asking specifically why they object and then suggesting a product or feature that solves the problem. You see, objections are really just issues formed out of fear of spending money. They are often signals that your potential customers want to buy but that they are not completely sold on the product yet. When you look at objections as questions for more information, you can better understand what is important to your potential customer, answer their questions, and address their problems.

Cost Breakdown By Current Income

Another good tip for selling life insurance to deal with objections is to explain how much money they can leave behind to their loved ones and compare them to their current way of providing now. If the customer earns $ 100,000 a year and they lose their life (even if they are not the life insured), their life insurance can stop giving their loved ones nearly $ 5 million over 20 years for health care and other vital things. [19659003] This tip on selling life insurance works well because otherwise customers may feel too self-conscious about their financial situation to think about what will happen when they die. When you tell them how much certain services will cost after death, it has the effect that they feel more secure when they buy a life insurance policy simply because they do not want their loved ones to live without these vital things.

The right technology to sell life insurance

The last sales tip for life insurance is to find and use the right technology, including an Agency Management System (AMS) platform and a Customer Relationship Management (CRM) platform. You need both an AMS and a CRM that is designed specifically for the insurance world. When it comes to the right CRM – InsuredMine CRM fits that need perfectly with a robust range of automation, communication and task management tools. Book your demo and try InsuredMine for free today!

Sit on the calendar with Sam below to see InsuredMine in action!


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