Life Insurance Selling

Rapid changes in the property casualty market have put immense pressure on insurance agents. While commissions, premiums, and retention of policies have all decreased the overhead, workload and price competition has all gone up. This has led to a scramble of agents trying to figure out of what should be done next to keep the ship in good shape.

Large private carriers as well as independents have started to appreciate the value of “fully monetizing” the client relationships that remain on the books. The issue is that it’s really hard to do. In addition, a lot all my work is collaborating with property and insurance agents on the method and strategy of adding life insurance and financial services to their work. In other words, life insurance selling to property and casualty brokers is one of the (if not the) most powerful ways to get through the unforgiving waters of the changing insurance world.

Consider this, pure life insurance agents would swoon at the thought of having hundreds of families that know you like you, and trust you to call upon. They’d chew off their left leg to get additional prospects to join in a life insurance conversation. Yet, here you sit with a list of prospects that you’re not talking with , yet you’re complaining about how tough the market is for your company. Visit:-

Each time you engage a client in a conversation about the benefits of life insurance and retirement planning, you open their mind further to the value that you can add to their overall plan. selling life insurance opens the door towards a more intimate relationship with your customers. In the end, when you’ve helped them understand their true needs, their most pressing concerns, and their passion for their family all else is in the bag.

If you are a property and casualty insurance agent and are interested in selling financial and life insurance products you owe it yourself and your clients to engage them correctly. You know deep down that running out half-cocked is likely to harm your standing as an expert, so don’t do it. Think about the overall plan of the new venture and work out the finer details before beginning the journey. Clients want assistance and you’re able to transform your income and your connections by doing the thing you ought to have done some time ago.

How do you do this? First of all, resist the temptation to sell life insurance in the same way that you would a fire policy or an umbrella. This is the way to go and has led many property casualty agents and agency owners to think that agents aren’t able to succeed in both the field of property casualty and life. In their minds, it’s an either/or decision. This belief stems from of the lack of understanding of the intrinsic motivators that cause individuals to opt to purchase life insurance. Yes, they choose to purchase life insurance and they’re doing it online in record numbers. What’s not to be told by that?

Because life insurance is an individual thing in comparison to other kinds of insurance, it needs different methods. A successful life insurance discussion is simply what it sounds like: a conversation. It’s not a sales pitch, or a script. It is an intelligent, objection-proof, and thoughtful conversation that lets you guide prospects through the necessary exploration phases until they reach their own conclusion. That is, you assist them in creating an individual life insurance plan and you simply facilitate their purchase of that plan. The plan isn’t sold. Once they’ve determined what they need (with your help) You simply guide through the process and reply to their queries. An excellent way to start the conversation going is by asking:

” What kind of life insurance plan have you done?”

This is an example of an objection-proof query that can help you stand out. For all you know, how many of your competitors actually do life making plans exactly like you do? No one, I am sure of it. If you arrange your questions using objection-proof strategies allows an unintentional conversation which helps your prospective customers and customers understand their requirements, rather than selling them products. This leads them to see yourself as an expert in planning and not only selling.

If it’s done correctly, selling life insurance can be a very satisfying experience and it’s one that can completely transform an insurance firm in both financial and relational terms. Because, after all, your customers need life insurance, they want to buy it, and they’re willing to be willing to pay for it. So, why aren’t we offering it to them?