Let’s face it: Nobody wants to talk about death, let alone plan for it. Life insurance is undoubtedly a morbid topic, and even the most seasoned life insurance advisors will agree that selling it is no easy feat. If you’re new-ish to this industry, you may be wondering about the best sales pitch for life insurance, or find yourself scouring the Internet for proven life insurance closing techniques.
Life insurance is deeply personal; it’s one of the most sensitive things you can sell. (Tweet this!) When you’re in life insurance sales, you’re not only selling insurance, but also preparing people for their worst-case scenarios—passing away and leaving loved ones behind. Because life insurance can be such a difficult subject for many people, the sales process has to be handled differently. Approaching such a delicate matter with a canned sales pitch is both insensitive and disrespectful to the prospect—not to mention unlikely to result in a successful sale.
Even the best sales pitch for life insurance probably won’t lead to a purchase. This is because sales pitches only create short-term excitement, which generally means a lack of commitment from the prospect. Not only that, but life insurance is generally not a product that you’d seek to get prospects excited about – it requires a more subtle approach. So instead, advisors should focus on two angles when selling life insurance: consultation and education.
The consultation is all about asking your prospect the right questions, not trying to pitch them. The personal nature of life insurance requires financial advisors to really dig into the prospect’s situation and ask some tough, uncomfortable questions about family members, terminal illness, last wishes, and other morbid but important topics. Sometimes advisors shy away from asking difficult questions because they fear they may come across as pushy or rude—when in fact it’s just the opposite. By avoiding these crucial questions you are essentially doing yourself and your prospect a disservice.
When an advisor is willing to touch tricky topics, it shows they really care about helping prospects prepare for what’s ahead. The best life insurance advisors possess the ability to broach tough subjects, while still maintaining a positive and friendly demeanor. (Tweet this!) In his book, To Sell is Human, Daniel Pink explains that a successful seller has the combination of “a gritty spirit and a sunny outlook.” Whether you consult with your prospects in person or over the phone, your goal should be to ensure your prospect is as comfortable as possible. While the subject matter is heavy, the conversation doesn’t need to be all tears and morbidity. Instead, find ways to keep things light despite the heavy subject matter, as this will help your prospect to feel more at ease during the consultation.
As a life insurance advisor, you’re more than just a salesperson—you’re tasked with protecting someone’s family and ensuring their final wishes are carried out. Because your role is so critical, it’s extremely important that you’re an expert on the products you sell. This will help you exude confidence, develop trust, and ultimately identify the perfect policy for each prospect.
Confidence is key. Remember that (particularly if you’re working with inbound life leads) the prospect already wants life insurance; it’s just a matter of which policy they choose. Keep in mind that a one-size-fits-all approach doesn’t work when it comes to life insurance. Certain products fit certain people and their unique needs. Rather than trying to jam a square peg in a round hole, take the time to understand your prospect’s goals and set them up with a policy that will ensure those goals are met.
If you’re struggling to connect with consumers on any insurance—life insurance included—we can help! At EverQuote, we specialize in delivering qualified leads that will help your life insurance business grow. Contact us today to learn more.