For most life insurance agents, cold calling is a challenging and unavoidable task. Selling life insurance is unlike any other type of sale, where customers walk away with something tangible or for their own enjoyment. life insurance cold calling is a sales technique that involves a sales representative calling a potential customer for the first time to determine their interest in purchasing an insurance plan, and a plan gloomy, financial security for his family. members when they are no longer available to provide support.
When you make outgoing calls to customers to sell life insurance, you may get repeatedly hung up. One of the most common mistakes agents selling insurance over the phone make is losing the interest of a potential customer after spending considerable time building rapport. Fortunately, we’ve compiled a list of insurance cold calling scripts for these exact situations, so refer to this list the next time you pick up the phone. these are simple and effective, whether you’re running a multi-agent insurance campaign or a solo agent working independently.
why you need cold calling scripts for insurance
Insurance cold calling scripts are well-crafted documents that provide guidance to agents when interacting with customers on a sales call. When making a life insurance cold call, scripts can help eliminate mistakes and provide predetermined answers to common questions, allowing agents to accurately advise consumers and be prepared for difficult conversations. Because many companies view their sales scripts as corporate policy, the language used should follow standard business practices and represent the company’s brand. By using an insurance telemarketing script, a company can ensure that its message is consistent with its corporate values while keeping prospect demands in mind.
A life insurance cold calling script serves as a guide for agents to deliver company-approved answers while building trust with prospects. After all, entrusting someone with life insurance requires a lot of trust and commitment. scripts are written to be complete and provide enough information for agents to avoid misquoting legal policies or giving incorrect information. it is quite common for companies to want a simple framework so that the agent can respond appropriately and the conversation runs smoothly. A life insurance telemarketing script ensures that representatives use language that protects the company from regulatory violations while ensuring accurate answers and, of course, closing the sale
examples of life insurance sales scripts
The following insurance cold calling scripts, along with some helpful tips, can help you become a more successful cold caller. Remember that your conversation should always be about adding value and helping your prospect rather than closing the sale. Commission should never be at the top of your mind during a call. Even if the discussion starts off “cold,” you can build rapport and win over prospects by piquing their curiosity and providing solutions tailored to their particular pain points.
It’s best to note that these insurance cold calling scripts should only be used as starting points. Whether you’re creating an “insurance agent cold calling scripts” pdf reference document for your business or just want an easy-to-follow guide, you need to tailor life insurance cold calling scripts to your business , prospects and personal style. use these templates as a benchmark to help you get an edge over the competition.
Elevator speeches are designed to be short and sweet, so named because they can be delivered in the span of an elevator ride. To be effective when selling life insurance, it’s important to address a specific pain point your prospect has, especially when you have so little time to capture their attention. There are typically four components to an effective elevator pitch:
- a hook for the attention of your potential client
- the weak point
- what are the advantages of your company’s policy? (is it a reduced cost? do you provide policy packages? can you process policies faster?)
- your competitive difference or unique selling proposition (usp)
Here’s an example of a short and sweet life insurance phone script:
“hello, am I talking to (prospect’s name)? I’m calling from (your insurance agency) and my name is (your name). I know your time is valuable, so I’ll be quick. I’m calling to let you know that we offer $200,000 of term life insurance coverage for as little as $12 a month. In addition, we offer a guarantee of coverage, regardless of your age.”
This short message cuts to the chase, offering your value proposition and addressing a common pain point (in this case, the prospect’s age or budget), while capturing their attention with something everyone will want: a low monthly commitment.
free quote speech
everyone loves free stuff. As an insurance agent, giving free quotes is second nature to keeping the conversation going with prospects. Your life insurance sales pitch script might look like this:
“hello, am I talking to (prospect’s name)? this is (your name) calling from (your insurance agency). I’m calling to let you know that I offer free quotes on life insurance plans that can fit your lifestyle. Would you like to explore your options, no strings attached?”
follow up on the proposal
One of the most important parts of the sales process is following up with potential customers who have expressed interest in your website. they’re already on the hook because they’ve shown interest in a policy, so they probably just need a little more encouragement to take the final step. cold call tracking scripts for insurance look something like this:
“hello, is this (prospect’s name)? My name is (your name) and I’m from (insurance agency). I am calling to inquire about the life insurance information you requested on our website. I’m reviewing your information and it sounds like you’re looking for a term life insurance policy, is that correct?”
Be sure to mention the insurance they’ve expressed interest in right away, so they know you’re responding to a legitimate inquiry. you can use the policy request as a springboard to discuss what you can bring to them and add value to the conversation:
“If you’d like, we can review the details of some common policies that I think would be beneficial to you based on the information you provided. Many of our plans can be customized to your specific needs, which I can help you select.”
wait for your response. If the prospect is interested in reviewing the policies right away, explain some of your issues and make sure you provide a supportive environment:
“I understand how difficult it can be to choose the right life insurance, so please don’t hesitate to ask if you have any questions. I’m here to help you find the perfect match.”
If they’re short on time, follow up by emailing them with policy options tailored to their needs.
speech of the insured
some of the people you contact may already have a life insurance policy. however, this is a hurdle that can be overcome with the guidance of the correct cold calling scripts for insurance.
“hello (prospect’s name). I’m (your name) and I’m from (insurance agency). I know your time is valuable, but I’m calling to let you know about our newest package.”
at this point, they will tell you that they are already covered.
“alright, that’s fantastic; you’re already covered. May I ask what type of insurance coverage you are receiving?”
wait for them to reply. Any information you can gain (during your initial phone contact or follow-up calls) that helps you build a relationship is critical.
“It’s great that you already have coverage, but I think I can get you a better policy for a lower price. in any case, it’s always intriguing to find out what else is out there. I am prepared to review your existing policy to see if there is any way I can save you money. I understand that paying for your life insurance is a primary concern for your family’s future. Is this something you would be interested in?”
everyone wants to save money, and the prospect of getting a better deal will always be intriguing to those who are already paying for a policy.
Overcoming objections is an essential sales skill. In addition to reducing the number of complaints, successful salespeople also focus on preventing them in the first place. Here are the most common complaints and reasons potential customers hang up that most agents experience during a cold call:
- I don’t need life insurance right now.
- I’ve already narrowed down my options for an insurance company.
- This week has been incredibly hectic for me.
- I’m having trouble deciding which insurance plan is best for me.
- I don’t think I can afford insurance.
- I already have life insurance.
- Right now, money is a bit tight.
- I’m not sure if an insurance plan will fit my budget.
The following insurance cold calling scripts can help you deal with such arguments and get the prospect to commit to your policies. you should generally have this script ready to go when you experience rebuttals, and it will usually appear in the middle of one of the scripts mentioned above.
“I understand your hesitation. life insurance is a serious decision. when you say (repeats objection curiously), can you tell me more about that?”
First of all, this script reduces resistance. By simply listening to their problems, you will build empathy and trust with your prospect, as well as provide them with the information they need to find the perfect policy for their needs. Once you understand exactly what is making them stop, you will be able to provide them with the right solutions to their problems.
best practices when using cold calling scripts for insurance sales
Along with the correct cold calling scripts for insurance, here are some helpful tips and best practices to keep in mind:
- use the right tools for the job
Most insurance companies use a CRM (customer relationship management) system to track their sales opportunities. A crm is useful for tracking calls, but phone system or communication tool integrations will give you even more value for your money. Platforms like iLife let you say goodbye to phone tags and cumbersome paperwork by organizing everything on one easy-to-use dashboard. A centralized system is especially beneficial if your team is spread across multiple time zones and cities.
- track, track, track
This is one of the most important aspects of the sales cycle. It usually takes more than a phone call for someone to buy your life insurance policy – it’s a big decision, and naturally they’ll want to think about it. On a cold call, the prospect is unlikely to be ready to make a final decision. and that’s okay: tell them you understand and that you’ll call them back or get back to them later by email.
- know your product
The core of a successful sales call is being prepared. Make sure you fully understand your offer and the value it provides. Some insurance plans provide more flexibility than others, and understanding the differences is critical. Nothing will scare a prospect more than not knowing what you’re selling.
- practice your script by rehearsing it
Make sure you’re familiar with all of your insurance cold calling scripts by rehearsing them beforehand. run your scripts in the same settings as you would during a call, whether in your office or at your kitchen table. We recommend enlisting friends or family to practice with you and give you some tricky answers. that way you’ll be ready for anything a potential client might say on the actual call. it’ll sound less like you’re reading from a script as you get more comfortable, and you’ll be able to improvise quickly while staying on track. these little ad libs will go a long way in making you sound more confident and comfortable when talking to prospects.
- be adaptable
so you followed the last tip and practiced, practiced, practiced; now you know the scripts by heart, which is fantastic! however, you also need to be able to go off script without drifting because conversations with prospects don’t always go as planned. you’ll learn a lot about them and their concerns, and you’ll need to modify your offer to fit their requirements.
Occasionally, the talk will stray from the subject of insurance. maybe the prospect has had a bad day or is thinking about something else, and just spills. this is fine and can actually help build rapport and trust. be prepared to listen and deviate from the script if the discussion calls for it. just keep your end goal in mind and gently steer the conversation back to it.
- ask questions and listen to the answers
Asking open-ended questions will keep your prospect on the phone longer and feel more like a conversation than a sales presentation. pay attention to what they say so you can find out where they come from and what they are looking for. you’ll be able to tailor your presentation to best fit the prospect’s demands once you have this information.
- communicate with them at their level
When you cold call, the last thing you want to do is alienate your prospect by using insurance industry jargon they may not understand. Use your life insurance sales presentation script to keep track of where you are, and keep your tone casual so you don’t get caught up in the industry chatter. basically, you want to keep it personal yet professional by using everyday phrases while still being authoritative about your offer.
- keep track of everything
Tracking your calls and their results is crucial to understanding where you stand. that’s where call tracking comes into play. It is essential to keep track of your achievements. Tracking factors like your close rate and follow-up rates can help you figure out where you’re succeeding and where you can improve. Not to mention, cold calling can sometimes feel like a thankless job, and knowing you’re making progress can be comforting.
build trust with ilife
Having insurance cold calling scripts ready is a crucial part of successful conversations. Created to help you take your business to the next level, the iLife platform is the fastest and easiest way for life insurance companies to build an interactive customer experience online. When you join iLife, you can build a custom white-label website with just a few clicks and no coding required. Agents can distribute your unique website link via email, social media, and any other method in just a few minutes. agents have instant access to a scalable business that allows them to reach potential customers anywhere, anytime. contact us today to see how ilife services can build your business today. If you enjoyed this article, you may want to consider subscribing to ilife’s content library which houses a wide variety of marketing materials: email templates, social media posts, sms scripts, and phone call scripts.
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