There’s a lot of advice out there on how to best sell life insurance, which, if you’re new to the insurance industry, can be overwhelming. Life insurance is a very personal endeavor for most consumers and often one of the hardest subjects to approach. After all, who wants to think deeply about their death?
If you’ve worked in the field for a while, you may be tired of practicing the same old prospecting methods and sale strategies. If you’re looking to amplify your results — more sales, happier customers, longer-term relationships — check out some of the simple suggestions below.
1. Sell to a new generation via referrals
What age group do you do the most business with right now? If you’re young, and new to selling, you might work mostly with millennials. If you’re a more seasoned agent, your customer base might have young adult children. Tap into the power of the referral by marketing your services to millennials by way of their family and friends. Millennials are more likely to purchase after talking with a friend or family member, so make a good impression initially, and you’ll have a brand new lead pool.
2. Use different selling techniques for different demographics
You can’t sell life insurance to a 20-year-old the same way you’d sell it to a 60-year-old. Besides having different personal needs, they also have different mindsets when it comes to life insurance.
It’s safe to assume that a 60-year-old person understands the value of life insurance, and is coming to you because he or she is in need of a policy. However, for many 20-year-olds, life insurance hasn’t crossed the mind, and you’re most likely knocking on their door to make the sale.
3. Practice social selling
Long gone are the days of home appointments to talk life-insurance strategy with prospects. Now, you can embrace all your leads (even those you might not be aware of) by being active on social media, especially if you’re blogging, too.
Social selling, lead nurturing at its finest, allows you to get your expertise in front of many possible prospects as the expert in the insurance industry. When you’re blogging, you attract leads by answering their questions, commenting on industry-related changes, and offering your professional perspective. Make it a must to have at least a few blog posts on your website answering simple questions like these below.
- “Why Is It Important to Purchase Life Insurance?”
- “Life Insurance Frequently Asked Questions — and Answers”
- “Can I Buy Life Insurance for My Children?”
- “What’s the Difference Between Whole and Term Life Insurance?”
Next, share your posts on social media, and then keep sharing across your other lead conversion channels. But don’t just use your social media to promote your own blog posts. Reach out and start conversations with the people who follow you. Join Twitter chats with other insurance professionals. Share relevant articles to your followers on Facebook. Bottom line: engage your current and future customers.
4. Focus on family
Want to know how to sell life insurance successfully? Hone in on the plan’s beneficiaries. The reason people purchase life insurance is because they want to take care of their loved ones, or at least cover their end-of-life plans for when they pass away.
Remind your lead of the less-thought-of-expenses that come along with life insurance. Yes, many people think to cover the cost of their house, or a certain monetary figure, but what about other expenses they won’t be able to contribute to, such as education funds, their spouse’s retirement funds, or their child’s future wedding?
5. Prepare for Rejection
You’re not going to get a “yes” every time you offer a product to a new lead. However, it’s not wise to accept a “no” either. If you can prepare for the many ways your prospect might reject aspects of your proposal, you can prepare a follow-up response to their objections.
At this time, QuoteWizard does not currently offer Life Insurance leads. Contact us today to learn more about our auto, home, renters’, or health/MedSupp leads!
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