Two often-used words that surprisingly scare clients away

The words you choose could be the reason you lose clients.

In the financial services profession, “we’re actually very guilty of using terminology that creates a negative perception on the part of the clients. And what the client perceives is all-important,” said Chris Unwin, a coach and trainer as well as a past MDRT member who was a financial advisor for 40 years in the UK and then Australia.

Once the client starts shutting out what you’re saying, they won’t commit to you as their advisor, Unwin said.

Shift the conversation away from expensive necessities

The first word to drop from your client meeting vocabulary, surprisingly for those who sell insurance, is the word “insurance.”

“When was the last time someone jumped for joy when you mentioned insurance? Not very common, is it?” Unwin asked in his 2019 MDRT Global Conference presentation. “So do yourself a favor and don’t use the word ‘insurance.’ Use the word ‘protection’ instead. It doesn’t have the same negative connotation.”

Insurance is often either viewed as a grudge purchase or an expensive necessity, and both of those are negative in the eyes of the client. By using different words instead, you create a different perception. Why not turn the conversation into a fantastic opportunity to talk about personal protection, Unwin suggested. Clients then can buy a personal protection package instead of several insurance policies. “It’s a lot more positive,” he said.

What word stops younger clients from hearing your message?

Another word that’s sure to lose a client’s interest, especially those clients younger than 35, is the word “disability,” Unwin said. Right or wrong, that’s where the client tunes you out, he said. Instead, try talking about illnesses and accidents. This will feel much more relevant, and they’ll keep paying attention to what you have to say.

“When we talk to clients about products, we need to be talking to them about what products do for them, not what they are. In other words, we want to focus on the benefits, not the nuts and bolts,” Unwin said.

This article is based on Unwin’s 2019 MDRT Global Conference presentation “A client’s perception of our engagement.”  [MDRT members only]

For more ideas to build connections and end objections

• Learn about “Compelling and productive communication with clients” in this brief video with MDRT Past President George B. Pickett, J.D., CLU, who discusses the words he uses with clients that build trust and not barriers.
• Watch the brief video “Objections: If you get them you did something wrong”  to find out from Top of the Table qualifier Clay Gillespie, CFM, CIM, one of his keys to success.
• Read “Tackling tough topics”  for ideas from MDRT members about how to talk to clients about difficult topics.
• Listen to “Lessons from mistakes in client communication” and find out how MDRT members had conversations that did not go well and how they adapted their approach moving forward.