Life Insurance Sales Tips for Beginners – Which Approach are You Using?

Lilfe Insurance Sales TipsAs you begin your career as a life insurance agent, the ability to rely on a few basic sales tips can be the difference between success and failure. Over the years, agents and brokers before you have had great success. By familiarizing yourself with the strategies others have used, you can find yourself on the same path in the near future.

The way you approach a life insurance lead is up to you. Not only do you have to make this decision, but it is likely to change from one prospect to the next. In other words, the way you sell to one consumer may not be the way you approach another.

The Responsible Approach

When you appeal to the consumer’s sense of responsibility, you increase your chance of success. The way this works is simple. You will explain to the customer that their family would need money should they pass on. Take the time to walk the person through the many choices, from term life to whole life, while explaining the pros and cons of each option.

You should also ask the appropriate questions: would you have the money to pay off your mortgage if your spouse passes away? Do you have enough money to pay for your child’s education?

Make it well known that the responsible thing to do is protect against these potential financial concerns.

The Logical Approach

It may sound like a no-win situation, but you should attempt to persuade the consumer that life insurance is a necessary expense. You must show the logic associated with purchasing a policy, regardless of age or financial situation.

You are sure to hear many rebuttals, including: I don’t have enough money for life insurance, I don’t need it right now, and I have planned for the future in other ways.

While you don’t want to go overboard with this approach, it is important to explain the risks associated with not having any life insurance.

The Investment Approach

Some consumers are interested in more than buying life insurance. They want to watch their money grow. When dealing with an “investment minded” consumer, it is important to discuss life insurance products that can better the person’s financial situation over the long haul.

Which Approach should I Use?

It is one thing to be aware of these three life insurance sales strategies. It is another thing entirely to choose the one that will put you in the best position to succeed.

Over time, as you experiment with each approach, you will get a better understanding of what is and is not working for you. Along with this, it becomes easier to see what your consumer base best responds to.

You should be comfortable using all three of these strategies, as you never know what will resonate with the prospect. Being able to “come at them” from a variety of angles will increase your chance of making a sale.

You may be new to the industry, but with the right approach you can soon become a successful life insurance agent.

This video has a few more life insurance sales tips to consider.

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