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How to Sell Life Insurance? A Helpful Guides and Ways for You to Begin Selling Life Insurance

Updated on June 13, 2014

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Have you ever asked yourself how to get started selling life insurance? In literature of life insurance is fraught of superb educational material; there is a clear missing link in the area of literature on how to go about selling it!

There are few questions that you should answer before we tackle the topic “selling life insurance”. The first is: How do you talk to a man about life insurance? Where do you get the names of people to call on and how do you keep supplied with them? And when they object, what will you going to do and say? How do you get an affiliate to sign up and lastly, how do you manage your time and work?

Above are some of the queries that you need to answer before indulging this job. Assume that you already know the principles, theories and uses of life insurance. The mechanics of selling things are expensive to learn by trial and error that so often make and ruins man in the business.

If you sell, you need to be choosy in a way that you need to find qualified prospects, stimulating their interest, concerning their complacency about their financial future, offering life insurance as the answer, and motivating them to act by signing the application and buying the premium and to make sure they will keep paying it in the future.

Below are some pointers on getting started that we have learned in a hard way by trial and fumble and some are just learned through watching and listening to knowledgeable sellers.

Insurnace
Insurnace | Source

Handling Papers & Rate Book

If you will be going out to sell make sure that you have all the things that you needed things in selling; all the papers, your rate book and supplies and items you will need. Also make that you put them orderly to get them instantly and smoothly.

A life insurance seller had once shared his tragic experience in his early stage of selling. He had brought pens that were not working and the worst thing is that he cannot find the blank applications!

So in order for you to avoid these hapless situations it would be helpful if you consider this suggestions to counterfeit future mistakes and fault.

  1. The application forms should be kept together in an envelope to get it instantly and to keep them clean. It is also good if you fold it outside out so that they can be easily identified. You should have three application blanks on hand at all times and to change them as used. Fold the application blank from the bottom by folding it out.
  2. Do not use pencil in figuring and showing diagram instead use pen. Then if you hit a sale, the agent needs not “Serve Notice” on the prospect by giving a pen.
  3. Be practical in most cases in a way that you should not carry “Rate Manuals” – companies will supply a rate card for the most famous plans. You can also carry a set of samples proposals or ledger statements for five year period with him in his dynamic kit.
  4. Needless to mention – a salesman personal appearance is very important and he must never forget to think and act as he was under observation. Your suite must be clean at all times. Pens, pencil etc must be put in an inside pocket but never make it bulge for it will look bad. Shoes must be shined and you must groom in a modest way to avoid offending clients.
  5. It is important also that a salesman keep all his sales material spic and span; charts, diagrams, rate books and all proposals.
  6. Some question bringing a brief case in theirs nothing bad of bringing or not bringing a brief case but in most cases a salesman bring his brief case to keep his materials intact.

Life Insurance
Life Insurance | Source

The First Sentence

1. The first paramount rule is to “Think in advance of what your first sentence will be!” Some authorities recommend giving first the name and company name in the opening sentence. But in some cases few salesman start their sentence by a motivating introduction.


2. After the first approach had been done wait for the prospect response to make a proper stimuli. Your approach could be in a phone call or much better in person. Ask him about his work life and if he has future plans.


3. The next step in making a sale is to break into discussion of life insurance, tell the prospect about the things that might happen when he buy life insurance.

Life Insurance
Life Insurance | Source

Pointers on Sales Talk

Here are some of the best pointers on how making a sales talk. Since you are finished delivering your first sentence and it ended up right and appropriate, it’s the right time to tell why you are there.

In doing this the easiest way is to say:

Example: “Mr. Smith, let me show you something” then proceed to your sales talk.

Be sure to talk and discuss in a friendly way and analyze what type of approach should be given in order to make a sale without making a bad impression. After saying the first sentence, show your graphs, pictures and other printed materials that are necessary.

Always remember that in order to make a good and nice sales talk is to practice frequently. In this way you will avoid faltering and fumbling.

Closing Pointers

1. The fourth step in the sale is to get the man to sign up his name and give his check. This usually takes place after your sales talk and discussion with your prospect. In this situation a salesman could use his learnings from the experiences that he had emulated to other and from his experience and practice.

a. Don’t wait too long to commence!


b. After the sales talk, SHUT UP! – the silence period, listen to the prospect.


c. Once agreement is reached, either by outright or implied consent between agent and prospect, little time should be wasted filling out lots of applications.

Getting the Application Signed

d. Learn to approach the right way in signing his name, saying “sig here” is quite a kiddo way, it would be nice to say “Just O.K this and just point the place where he is to sign.


e. Men’s mind is like a pendulum of a clock so leave quickly and as businesslike as possible after interview and signing, secure papers and check.


f. If an examination is required get it set right now. It is good to do it early.

Rules for Delivering

There are multitudes of sales lost every day by life underwriters because they don’t go to the trouble to plan a second sale when the policy is delivered. Below are some ways to do it


a. Produce extra policy after the explanation


b. Before you leave the policy-owner, after delivering his policy to him, make it absolute rule to secure three names of men in good positions


c. Show the policy that he has brought and give the red-hot description of it, summarizing the main points. Take this in five minutes.]

The Winning Attitude

A salesman must keep the fire of passion burning hot and bright whatever happens. Being a life insurance seller is not easy; it takes time for you to become one of its elite. He must have an unfailing faith with optimistic and that if he do his job honestly with his best, he will soon reap the reward in the future.

Life insurance is a peculiar commodity designed to promote the welfare of a man and his family. A salesman who is smart and ambitious is on fire with conviction that he is really doing a man, one of the greatest favors of his life, he is unbeatable. For him, selling life insurance is a crusade and he knew that he has a bigger future in the business.

Reference: How to Succeed in Life Insurance Selling by Hugh S. Bell, C.L.U and Walter J. Shields, C.L.U

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