If you want to sell life insurance, it’s imperative that you can connect with life insurance buyers over the phone. Here’s how.
Life insurance buyers are an interesting group of people. They aren’t your retail store impulse purchasers. They aren’t your hagglers. While they might haggle or make impulse buys, that’s not how they approach life insurance.
On the contrary, your life insurance buyers are looking into the future. They’re thinking about a long-term relationship with your insurance agency. They’re buying a product that they won’t take advantage of for years or probably decades.
Life insurance is also a thoughtful purchase. Some people consider it a gift they can leave their family. They know it will take care of their final expenses and the financial burdens of their loved ones.
Life insurance is also a different type of insurance product. Where auto and home insurance are often required by law or by lenders, life insurance is generally an optional purchase.
This means that to sell life insurance successfully, you have to connect with buyers. If you think about it, that connection is the most tangible aspect of a life insurance policy, at least at that moment. How can we do that?
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Discover 5 ways you can connect with life insurance buyers to close a deal
Personal connection is a huge part of any sales. That’s why so many online reviews talk about customer service and how friendly or approachable the salesperson is. Of course, those reviews also mention things like product quality, ease of use, or how much the reviewer enjoyed the product or experience.
What makes life insurance so different is that your customer doesn’t have any immediate product or service to appreciate. Obviously, the quality of your service and product is vitally important. But no matter how great it is, there’s still nothing there your customer can touch, feel, see, or experience.
That means your connection with them is the key to life insurance sales. And since you can’t meet all your life insurance buyers in person, you need at least a handful of ways to help connect with them over the phone. In no particular order, here are some of our favorite connection tips.
1. Know your product. Life insurance is confusing. Term life, whole life, universal life, annuity, annuity certain, cash surrender value, and so many more are specific to the insurance industry. Most life insurance buyers won’t fully understand these terms. That means part of your job is understanding them well enough to explain them to anyone you speak with. Additionally, the better you know and can explain your products, the more your customers will feel comfortable talking to you.
2. Be ready with data. How long does it take for your agency to pay out benefits? What is your customer retention rate? Do claims ever get denied? You want to have this information at the ready. Think of the many data points your prospects and customers might ask about and keep that information handy so you don’t lose their interest while you’re looking things up.
3. Focus on the benefits. In most cases, life insurance benefits are paid out upon the insured’s death. And most of us don’t want to think too much about the end of our own lives. Therefore, it’s essential to anchor the conversation on the benefits a policy offers for loved ones. Those include benefits such as having funeral expenses covered or ensuring financial security. At the same time, you don’t want to sugarcoat what life insurance is for. Keeping your focus on the benefits doesn’t mean you can’t be realistic.
4. Referrals. One secret to connecting with life insurance buyers is to get a referral from one of your current customers. Referrals are more than just a name to call. Referrals are social proof that you are a trustworthy insurance agent. At its base, the concept of social proof simply means that we tend to trust the opinions of our friends and acquaintances by default. If you can drop the name of a friend, that opens the door just a bit wider for you to connect.
5. Listen. The single best way to connect with life insurance buyers, especially when you’re on the phone, is to listen attentively to what they say. Your prospects will offer you plenty of information to work with when you focus on them. But don’t just listen to what they say; listen to what they don’t say. Along with the information you get through their words, prospects often “say” a lot by what they leave out or don’t talk about.
Connection is the path to success in sales. Once you determine the best way to connect with life insurance buyers, you’ll start selling policies like there’s no tomorrow.
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