“Success isn’t built by making easy sales,” said 2001 MDRT President and Top of the Table qualifier Tony Gordon, of Bristol, England. “Success comes from losing hard-fought ones and coming back to fight again. If we have chosen to live on this high hill, we must expect that there will be high winds from time to time.”
Over the years, he’s certainly made some hard-fought sales. Here are some of the responses he typically uses to overcome common objections to life insurance.
Why should I take this life insurance? If I die, my wife can go back to work. Of course your wife can go back to work. If your death has just deprived your children of their father, do you want your wife’s job to deprive them of their mother, as well?
But we can’t afford the $100-a-month premium. If you can’t find the $100 per month while you are here earning an income, how will your family find the $1,000 a month they need without you and your income? Nobody has ever gone bankrupt because they were paying for life insurance, but families have gone bankrupt because they weren’t. Now, if you will go and get your checkbook, I’ll start filling out the forms.
Can’t I buy term insurance? It’s cheaper, right? Yes, it is cheaper, but cast your mind back to the day you were married. Do you remember the words as the minister blessed you both? Did he say, “Do you take this woman to be your lawful wedded wife, for better or for worse, for richer, for poorer, in sickness and in health, annually renewable”? Or, did he say, “Until death do you part”? It’s a permanent commitment, and only permanent insurance can meet a permanent commitment.
Life insurance is a lousy investment. I don’t argue with anyone who says life insurance is a lousy investment. After all, you can always find a better investment than an insurance policy, but you can’t find a better way of producing money when it is needed to pay your debts, your taxes or put food on the table.
This was excerpted from the Round the Table article “Erase doubts.”
For more about how to overcome objections and talk with clients
- Go to “A conversation: The journey to success,” a video with Tony Gordon and Top of the Table qualifier Alessandro M. Forte, Dip PFS
- Watch “Objections: If you get them you did something wrong” with Top of the Table qualifier Clay Gillespie, CFM, CIM.
- Listen to “Objections” with Top of the Table qualifier Sanjay Tolani, FLMI, MBA
Great way of handling the objection.
Good
Nice! Very smart and worth applying for.