Sell more life insurance with these revealing questions

Families are being left unprotected financially because they’re underinsured. For example, almost nine out of 10 Americans agree that most people need life insurance, yet only 60 percent say they have it, according to a Life Happens and LIMRA study.

If so many people think they need life insurance but don’t have it, why aren’t they banging down your door in their quest for a secure financial future for their loved ones? Maybe it’s because it takes more than facts and figures to motivate people to make financial decisions.

This isn’t a knowledge business anymore, but a questions-and-stories business, economist, retirement expert and author Tom Hegna said at the 2018 MDRT Experience and Global Conference in Bangkok, Thailand.

“Telling isn’t selling,” Hegna said. “Get better at asking questions and your sales will go up.” Asking questions gets to key issues faster, he said.

Hegna recommends the following questions to ask clients:

  1. Tell me your understanding of life insurance and how it works. What’s your philosophy on life insurance?
  2. If you knew you were going to die tomorrow, how much would you buy today?
  3. If life insurance was free, how much life insurance would you need?
  4. If you were hit by a drunken driver, how much would your family sue for?

If clients have objections, they’re not seeing the value of what you do, Hegna said. Tell them stories and find out what’s important to them.

Hegna also explains to clients how life insurance is like car insurance. He says, “You don’t buy insurance when you need it. You buy it when you don’t. You can’t buy car insurance after a car accident,” Hegna said. The premium is the solution to their problems.

By Antoinette Tuscano, MDRT Content Specialist


Hear more ideas about handling objections by watching Hegna’s MDRT presentation, “The importance of what MDRT members do.”

Discover more ideas in the video “Objections” and in the MDRT Podcast “Strategies to handle objections.”


 

Comments
  • Anil Kumar Keshwan says:

    Yes. Its true. If we explain about future uncertainties, to fulfil the responsibility its very easy to sell insurace and at same time we calculate inflation rate we will be able to get big premium

  • Amar Adlakha says:

    Yes I do agree with Tom the way Insurance should be sold.But my experience after joining this industry via Max Life in India is that less than five percent people understand Insurance in its entirety.They always see the returns as is in the case of investment.

  • Krishanu Chattopadhyay says:

    Enriched .

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