Responding to Life Insurance Objections Part 2

As a recap from last month – remember, listen with the intention to understand, express empathy, ask questions and tell stories to draw the customer in and get them to see things in a new light.

Last month we visited the “I have it at work” objection.  We quickly talked about how you can move through that objection and meet the customer’s needs.  Let’s list a few more common objections we also hear and then show you how our discussion would sound.

As you practice how to respond with this process you will find your team will all get better at confidently responding.

“Let me think about it.”  –  “Of course, I’d do the same,  good decisions first come from having good information.” Let me ask you which part do you need to think about?  Is there something I did not explain very well or is there anything else you would like to know that would help you with your decision?  If you had a few weeks to think about this, would that be enough time?  (yes)  Well let’s go ahead and get the underwriting started because just like you want to think about this so does the company.  One of the big misconceptions many have is they think they can buy life insurance whenever they want, but in reality Life Insurance is something you have to qualify for a lot like applying for a mortgage, not everyone can get one and not always at the terms they want.  The process takes three to four weeks typically.  So let’s get this started so that when the company comes back with an offer you will be ready to proceed.  If you don’t want it, we can give you your money back and the best part about this is you will get a free medical exam and coverage immediately as you walk out the door.  Does that sound fair?

I have to talk to my spouse first – ” That is a really good idea I agree we shouldn’t make important decisions without making sure we have our spouse’s input.  Let me ask you, if you went home and talked to your spouse and told them you  wanted to ensure there would be cash on hand to pay the mortgage and keep the home, pay for college for the kids and cover income because of an accident that caused you never to come home again, how do you think your spouse would feel?  Life Insurance isn’t something you can just buy, like a mortgage you have to apply for it and qualify, let’s get this started so you can go home and have that conversation, it will take a few weeks for the company to do their underwriting and come back with a decision on whether you even qualify and give us either a thumbs up or thumbs down response, or something in between, then the two of you can make an informed decision and you are better off for getting it started now.  Why don’t we get this part started?

I cannot afford it – (when you haven’t even given them a price yet) ” How much does it cost, do you know?  Can your family afford not to have it if something happens to you?  Let’s be honest here, are you spending money on things that more important to you than your family?  If something happened to you wouldn’t you want to make sure the house is completely paid off, and there is cash and income in place so your wife and kids won’t struggle to pay the bills?  What if I could show you a way you could pay for it and get your money back so it was truly free to you?

Next month let’s talk about how to respond to :

I don’t believe in Life Insurance

I want to cancel my Life Insurance

Dave Ramsey says buy term and invest the difference

I’m not leaving my money to the next guy

Stay tuned!

Happy selling,

Insurance Agency Training

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