When you sell life insurance, it’s important that you understand how to overcome objections you may hear from potential clients. Since most people are uncomfortable saying no directly, they may offer an excuse for not getting life insurance. Every great agent should try to prepare themselves before meeting a prospective client. You can do that by thinking strategically about how you will handle their objections so they will decide to do business with you. Here are several popular objections and advice on how to address them with confidence so you can close the deal.
Objection #1: I don’t need additional insurance coverage.
If your prospect already has medical coverage or some type of insurance, they may initially turn you down because they don’t believe they need additional coverage. To overcome this objection, you can ask them to imagine what would happen if they didn’t have adequate coverage. Next, explain how insurance can prevent future financial issues. By the end of your conversation they should understand how priceless and valuable life insurance is.
Objection #2: I should talk to my spouse first.
When you approach potential clients who are married, there is a strong possibility they will say they need to talk with their spouse first. This is a reasonable request. When you talk with them, acknowledge how important it is for spouses to communicate with each other about important topics. Tell them that their spouse is welcome to join the discussion and schedule a follow-up appointment. You can also encourage them to contact you at any time if they have any questions about different policies.
Objections #3: The timing isn’t right.
Another common objection you may hear is that the timing isn’t right to discuss buy insurance. This is especially true if you run into a potential client You will probably run into them running errands or attending different events when you find a potential client. If the environment isn’t appropriate for a business conversation, let them know that you sympathize with them and respect their time. Try to schedule a call or meeting with them in the near future at a specific time so they can put it in their planner. Remember, although they may object to buying insurance right now, it doesn’t mean that they won’t buy it in the future. Continually reach out to them until you can get a definite yes or no.
Objection #4: I’m not sure. I need some time to think about it.
Some people need to gather additional research and data before they feel comfortable signing the dotted line. When a prospect shares with you that they need some time to think about the topic or have hesitations, try to let them know that you will not pressure them to make a decision. Reassure them that you will always be there to answer their questions. You can also ask them to clarify what is specifically holding them back from making a purchase. When you make the effort to address their concerns head on, the prospective client will develop more trust in your knowledge and begin to see you as an expert.
Objection #5: I can’t afford insurance.
Many people view life insurance as something that is very expensive and complicated. For clients who are price sensitive, you can handle this objection by letting them know that you can develop a plan that works with their budget. Next, explain how not having life insurance can make their financial situation worse and leave them with debt if they don’t make an investment in their future now.
Brokers Alliance is one of the country’s leading independently- owned distributors of life insurance and annuities. You can visit their website at www.brokersalliance.com.