Discovering the right way to approach a life insurance prospect can be a difficult task. Here are five questions to ask when selling life insurance to help you build a relationship and close more deals.
“You know, a man’s life is the most precious thing in the world, right? So isn’t it strange that a man insures everything but his life? These were the wise words of Ben Feldman, also known as the greatest life insurance salesman of all time. The man has an indisputable point: We’re all aware of the benefits of life insurance, yet 48% of Americans still don’t have life insurance.
As a life insurance agent, it’s up to you to approach your clients in the right way and help them understand why they need life insurance. As such, you need to think of good questions to ask when selling life insurance. death, disability, and loss of income are topics that are difficult to address during a simple phone conversation. however, you need to find out more about your customer’s needs to find the right solution for them.
5 main questions to ask yourself when selling life insurance
Having a list of questions on hand is especially important when selling over the phone. Even without any body language to go on, you need to make a genuine connection and make a strong sales pitch. so here are several questions to ask when selling life insurance that will encourage dialogue with your potential customers.
1. How much do you think life insurance costs?
The main reason people don’t have life insurance is because they think it’s too expensive. By asking this question, you are inviting your prospect to share what they understand about life insurance. this is an excellent opportunity to correct any misconceptions they may have and build their confidence in your expertise. For example, if they overestimate how much it costs, you can direct the discussion to the affordable premiums you offer.
Another way to turn this question around is: “If life insurance was free, how much would your life insurance policy cost?” It’s a fun exercise for your prospect to dream big and say, “I’d get a million dollar policy,” and a great opportunity for you to follow up with questions like “what would your family do with that kind of money? ” which highlights the practical side of why they need a policy.
2. what do you want to get from a life insurance policy?
why is this a good question for selling life insurance? because your main goal is to find a way to meet the needs of your potential customer. Looking for something to cover final expenses, income replacement, or mortgage protection? Do they only want temporary coverage or are they looking for permanent life insurance? let them talk at length and show that you’re actively listening so they recognize you’re here to work with them and solve problems rather than make a sale.
3. What did she have in mind when she first asked about life insurance?
We are now getting into the more immediate counterpart of the previous question. Your prospect must have contacted you in some way: filled out a form, signed up for an email, etc. Asking what triggered that behavior can help you discover your current life circumstances and financial needs. This allows you to recommend the best policy for what is going on in your life right now.
4. If you died tomorrow, what would happen to your family’s finances?
Nobody likes to talk about death, but it’s irresponsible to pretend it’s not an integral part of why people need life insurance. Asking your potential client to confront this awkward question will encourage them to take an objective look at their situation and realize why exactly they need life insurance. another way to turn this around without making direct reference to death is “how much does your family depend on the income you generate?”
5. Have you ever thought about life insurance for your spouse or children?
If your prospect is the primary earner in their household, they may already understand the need for their own life insurance. however, they may be unaware of the potential costs that could result from the death of their spouse or children. For example, your spouse may not have generated income but was responsible for taking care of the children. who has that responsibility now?
Close more sales with the right questions and the right leads
Mastering the right questions to ask when selling life insurance is an important step in your journey to becoming a successful life insurance agent. however, without high-quality leads to ask these questions, it’s like shooting in the dark.
At hbw leads, we provide agents with exclusive, double-verified, high-quality leads who are ready and willing to listen to what you have to say. Contact us online or call us at 866-310-2456 to request a free, no obligation quote today.