well i want to know how to put acoss the deal of life insurance in front of customer to attract their needs
Total Comments: 18
Posted: Fri Nov 14, 2008 01:25 pm Post Subject: Attracting Needs
Rashidshaikh - Not exactly sure what you mean by attracting their needs. If you mean how to do you sell life insurance, I'll take a stab at it.
I've sold life policies before, but I've also sold other things. Life policies are not much different from other intangible products. You sell to the emotional need/feeling of the client.
You sell to their love of their family. After all, they don't want to leave their wife and child destitute if they suddenly die. You sell to their fear of what might happen. Study life insurance advertisements. That will give you a hint on why people buy it and why they might buy it from you. That part may be more important than the first part.
Finally, fish where the fish are. Don't waste your time cold-calling single people. You want to interact with young families. Those are your best prospects.
Posted: Sat Nov 15, 2008 02:39 pm Post Subject: insurance
I posted, something similiar, on another thread. To give you a 'consumers' perspective.....................I think an insurance agent should ask the 'needs' of the family. For example: I'm a single mom with a 15 year old boy. I sure wouldn't need a 'intense' policy ( lack of a better word..). Also...i think an insurance agent should consider the income of the 'consumer', etc.
Posted: Sun Nov 16, 2008 11:55 pm Post Subject:
I agree with SD. I think you should ask their needs. I also think the value of insurance policies need to be laid out for people who don't understand them. When shopping for insurance a normal person can get really frustrated when not understanding the insurance world. There are so many variables to insurance and sometimes we do not understand exactly what we need until it is explained to us.
Posted: Mon Nov 17, 2008 03:32 am Post Subject: Needs of the Client
I'm still a little confused on the original question. That said, I agree with the disucussion above. If we sell an insurance policy, then we should never try to give the client something they don't need. My apologies if that's what I communicated.
For instance, a single mom making less than $20K a year is probably not the best candidate for a $1M whole life policy. But she probably needs a cheap term policy, especially if there's no family to support the kids.
Education is always the right response. Finding out the client's needs and presenting the right product is the foundation for any life insurance discussion. But the sale still has to be made. Positioning the solution so that it meets an emotional need is a more effective way to sell life insurance. Not in a manipulative way, but in a solution-based way. That's the sales part.
Posted: Mon Nov 17, 2008 09:25 am Post Subject:
well i want to know how to put acoss the deal of life insurance in front of customer to attract their needs
I guess you don't have to attract their needs but to apprehend those properly to offer the right kind of policy to them.
You might required to find out who needs the life plan? As Carinsuranceguy has mentioned that single people might not require life policy as desperately as the family people. However, you can still sell life plans to single individuals since they might need it to meet the final expenses.
Try to find out what life changing event has taken place in the life of the customer then you can encash on it.
Posted: Wed Nov 19, 2008 07:56 pm Post Subject:
I would say "Ask lots of open ended questions" God gave us 2 ears and 1 mouth, maybe we should do twice as much listening as talking.
Scott
Posted: Fri Nov 21, 2008 03:56 am Post Subject:
Why do I Need Life Insurance?
If you've ever asked yourself: "Do I really need life insurance?” or “How much life insurance do I need?" I congratulate you. You are one step closer to crossing that thin grey line that represents something called “life insurance phobia.”
pho•bi•a n. 1. A persistent, abnormal, or irrational fear of a specific thing or situation that compels one to avoid the feared stimulus. 2. A strong fear, dislike, or aversion.
Yes, I am talking about the human tendency to avoid discussing things like life insurance and/or anything else having to do with our own mortality. When I have brought this very topic up at seminars and/or presentations in the past, it almost always draws dirty looks, negative body language, and other signs that show how people are literally repulsed by this subject.
First of all, why is it called it “Life” insurance? Isn't this sort of an antithesis of what it actually is? Wouldn't “Death Insurance” be a more fitting name for a plan that pays off when we die? Actually, if the terminology wasn't already used in the annuity/retirement savings industry, I think “Longevity Insurance” would be a more fitting name. And, literally speaking, how [exactly] does life insurance differ from Wrongful Death insurance or Accidental Death insurance? Why there isn't something called “Right-ful” Death insurance is beyond me. Is it really a matter of right versus wrong? How would “non-accidental” death insurance compare to regular or traditional life insurance?
The very next time you are involved in, or overhear a conversation regarding the big “D” word, listen for the ways people (including you) avoid discussing the issue. How many times have you heard something like: “I wonder what Mary and the kids would do if something happened to me?” “If something were to happen to me, the people at work would be lost.” “Honey, if something ever happened to me, would you remarry?” “If something happened to me, who would pay off the house and send the kids to school?”
If I was walking to the bathroom in the middle of the night and kicked the corner of the bed with my bare foot, wouldn't that qualify as something that happened to me? If I were weed-eating the grass in the back yard in short pants and clipped my bare ankle with the high-speed fishing line; that would definitely qualify as something that happened to me. Ladies, how about accidentally tearing off an acrylic fingernail? Wouldn't that be considered one of those things that happened to you? The truth is that very few people are comfortable discussing death. For most, it is an extremely sensitive subject that each one of us must eventually face at some point in our lives.
Life insurance agents generally don't have any problem whatsoever describing all the horrible things that could happen when your heart stops beating. By getting you to discuss the possibility that you may die sooner than later and how this may cause severe hardship for those you care about most is how they make a living.
If you are considering the purchase of a life insurance policy, you have at least acknowledged that we will all perish sooner or later.
In the event that sooner comes much earlier than later, here are a few things you might want to consider when purchasing a life insurance policy.
Is there anyone in your life who depends on your income?
If your answer is "no," you probably don't need life insurance. If you have any other answer to this question, including “how should I know?” read on.
In simple terms, life insurance protects those who depend on your ability to earn a living. In the event of your untimely death, life insurance provides your dependents with a source of income. Thus the term: income replacement. It can also provide funds for final expenses, such as medical, legal, and funeral costs, should your savings not be adequate to cover them.
Could your family afford your funeral expenses?
More importantly, does your spouse, children, or other dependents count on your paycheck in the years ahead to cover their basic needs and/or future goals? If you are the family's primary bread-winner, what will it cost to replace your income, and for how long will it be necessary?
A single individual - or someone who's one-half of a two-income, no-dependents household - won't likely need much life insurance, if any. With very little effort, you can develop an emergency plan of action with a low-risk savings account to cover funeral costs, and invest the money you would have spent for insurance premiums elsewhere. However, if you have seen success in the stock market, or other investments, you may be a prime candidate for a permanent life insurance plan.
Will your heirs be required to pay Estate Taxes?
The tax imposed on all assets that an individual owns or controls at the time of death, over and above the current exemption of $2 million. This tax is imposed by the state or federal government when property passes upon the death of the owner. Any property you own, whatever the form of ownership, and whether or not it goes through probate your death, is subject to federal estate tax. Currently, however, the federal estate tax is scheduled to be repealed for one year (2010), but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.
Avoiding probate
If you own an asset that designates a beneficiary, that designation supersedes the terms of the will, and the beneficiary will inherit the assets without an executor's signature and therefore without probate. That is the general rule-of-thumb for avoiding probate: merely name a beneficiary of an asset. Not every asset allows for such a designation, but one asset for which it works very well is a life insurance policy.
How would your family manage their living expenses? Imagine yourself gone tomorrow; what would the immediate impact on your family be? Are they counting on your paycheck in the years ahead to cover basic needs and future savings goals? Could they afford the funeral costs? Who would pay the home mortgage? Would your family be thrown out on the streets? Would Social Security survivors and dependents benefits be available? Could they count on help from grandparents or other family members in case of disaster?
How long before your children become self-sufficient?
Children who are almost grown may not need as much additional income as small children or babies. If they're younger, remember that dependent spouses caring for young children can usually return to work at some point. Some older kids may even contribute to the family financially.
Business Continuation Insurance
If you are the sole owner of a business, what will happen to your business when you die? Will any of your family members or employees continue the business? If so, how much cash will be required to keep the doors open? You may need life insurance proceeds to cover any cash flow shortage of the business. If there isn't anyone to keep the business going, the concerns change: How much is your death likely to affect the value of the business?
If you own a small “Mom & Pop” type business, you've worked hard to build a loyal customer base and people have come to depend on your services. If this is important to you, where will the money needed to keep the business alive come from? Finding someone to buy the business may take time and cash will undoubtedly be needed. If you are one of several partners or co-owners, life insurance proceeds can be used to fund a buy-sell arrangement.
How long will the property-transfer process take?
In a ‘perfect world,' after you die, you'll have checking and savings accounts, securities, and/or other resources that will help your dependents cover the cost of any short-term expenses. Most of your property will avoid probate and therefore, there'll be very little need for insurance. If, however, the majority of your estate is transferred by will, and could easily be tied up in probate for months, your family may need the immediate cash a life insurance policy can provide.
What is an Estate Fire Sale?
A fire sale is the sale of goods at greatly discounted prices typically when the seller faces bankruptcy, death, or other hardship. If, at the time of your death, your estate is made up of assets that cannot be quickly converted to cash (real estate, business partnership, collectibles, etc.), there may be a significant financial loss if these assets must be sold quickly to raise the cash needed to pay bills. If, sufficient funds from insurance or other sources are available to pay the bills, you might not need insurance for this purpose. Fortunately, federal estate taxes aren't due until nine months after death, so cash to pay them doesn't have to be raised immediately.
Posted: Mon Nov 24, 2008 04:51 am Post Subject:
Actually we being an agent for life insurance do not try to sell the product rather approach is to 'sell ourself'. When customer is asking any query & if we are able to satisfy him/her with utmost clarity you have won it @ first hand only.
To be a knowledgeable person on one's profession is a general thumb rule which is applicable to all the areas is what applies here in insurance too.
Posted: Mon Nov 24, 2008 09:48 pm Post Subject: insurance
Mmm. Why don't insurance agents just come out and say, "this is what I would like you to hear/talk about."........instead of 'beating around the bush'? Why..."sell yourself" when the 'product' you are selling is not you? I'm just giving my opionion from a 'consumers' point of view.
Posted: Thu Jul 09, 2009 05:19 pm Post Subject: Hi
Dear sir iam working as agent in call canter and my job is to sell life insurance can you give some sales tips and rebate ls
Posted: Fri Nov 14, 2008 01:25 pm Post Subject: Attracting Needs
Rashidshaikh - Not exactly sure what you mean by attracting their needs. If you mean how to do you sell life insurance, I'll take a stab at it.
I've sold life policies before, but I've also sold other things. Life policies are not much different from other intangible products. You sell to the emotional need/feeling of the client.
You sell to their love of their family. After all, they don't want to leave their wife and child destitute if they suddenly die. You sell to their fear of what might happen. Study life insurance advertisements. That will give you a hint on why people buy it and why they might buy it from you. That part may be more important than the first part.
Finally, fish where the fish are. Don't waste your time cold-calling single people. You want to interact with young families. Those are your best prospects.
Posted: Sat Nov 15, 2008 02:39 pm Post Subject: insurance
I posted, something similiar, on another thread. To give you a 'consumers' perspective.....................I think an insurance agent should ask the 'needs' of the family. For example: I'm a single mom with a 15 year old boy. I sure wouldn't need a 'intense' policy ( lack of a better word..). Also...i think an insurance agent should consider the income of the 'consumer', etc.
Posted: Sun Nov 16, 2008 11:55 pm Post Subject:
I agree with SD. I think you should ask their needs. I also think the value of insurance policies need to be laid out for people who don't understand them. When shopping for insurance a normal person can get really frustrated when not understanding the insurance world. There are so many variables to insurance and sometimes we do not understand exactly what we need until it is explained to us.
Posted: Mon Nov 17, 2008 03:32 am Post Subject: Needs of the Client
I'm still a little confused on the original question. That said, I agree with the disucussion above. If we sell an insurance policy, then we should never try to give the client something they don't need. My apologies if that's what I communicated.
For instance, a single mom making less than $20K a year is probably not the best candidate for a $1M whole life policy. But she probably needs a cheap term policy, especially if there's no family to support the kids.
Education is always the right response. Finding out the client's needs and presenting the right product is the foundation for any life insurance discussion. But the sale still has to be made. Positioning the solution so that it meets an emotional need is a more effective way to sell life insurance. Not in a manipulative way, but in a solution-based way. That's the sales part.
Posted: Mon Nov 17, 2008 09:25 am Post Subject:
well i want to know how to put acoss the deal of life insurance in front of customer to attract their needs
I guess you don't have to attract their needs but to apprehend those properly to offer the right kind of policy to them.
You might required to find out who needs the life plan? As Carinsuranceguy has mentioned that single people might not require life policy as desperately as the family people. However, you can still sell life plans to single individuals since they might need it to meet the final expenses.
Try to find out what life changing event has taken place in the life of the customer then you can encash on it.
Posted: Wed Nov 19, 2008 07:56 pm Post Subject:
I would say "Ask lots of open ended questions" God gave us 2 ears and 1 mouth, maybe we should do twice as much listening as talking.
Scott
Posted: Fri Nov 21, 2008 03:56 am Post Subject:
Why do I Need Life Insurance?
If you've ever asked yourself: "Do I really need life insurance?” or “How much life insurance do I need?" I congratulate you. You are one step closer to crossing that thin grey line that represents something called “life insurance phobia.”
pho•bi•a n. 1. A persistent, abnormal, or irrational fear of a specific thing or situation that compels one to avoid the feared stimulus. 2. A strong fear, dislike, or aversion.
Yes, I am talking about the human tendency to avoid discussing things like life insurance and/or anything else having to do with our own mortality. When I have brought this very topic up at seminars and/or presentations in the past, it almost always draws dirty looks, negative body language, and other signs that show how people are literally repulsed by this subject.
First of all, why is it called it “Life” insurance? Isn't this sort of an antithesis of what it actually is? Wouldn't “Death Insurance” be a more fitting name for a plan that pays off when we die? Actually, if the terminology wasn't already used in the annuity/retirement savings industry, I think “Longevity Insurance” would be a more fitting name. And, literally speaking, how [exactly] does life insurance differ from Wrongful Death insurance or Accidental Death insurance? Why there isn't something called “Right-ful” Death insurance is beyond me. Is it really a matter of right versus wrong? How would “non-accidental” death insurance compare to regular or traditional life insurance?
The very next time you are involved in, or overhear a conversation regarding the big “D” word, listen for the ways people (including you) avoid discussing the issue. How many times have you heard something like: “I wonder what Mary and the kids would do if something happened to me?” “If something were to happen to me, the people at work would be lost.” “Honey, if something ever happened to me, would you remarry?” “If something happened to me, who would pay off the house and send the kids to school?”
If I was walking to the bathroom in the middle of the night and kicked the corner of the bed with my bare foot, wouldn't that qualify as something that happened to me? If I were weed-eating the grass in the back yard in short pants and clipped my bare ankle with the high-speed fishing line; that would definitely qualify as something that happened to me. Ladies, how about accidentally tearing off an acrylic fingernail? Wouldn't that be considered one of those things that happened to you? The truth is that very few people are comfortable discussing death. For most, it is an extremely sensitive subject that each one of us must eventually face at some point in our lives.
Life insurance agents generally don't have any problem whatsoever describing all the horrible things that could happen when your heart stops beating. By getting you to discuss the possibility that you may die sooner than later and how this may cause severe hardship for those you care about most is how they make a living.
If you are considering the purchase of a life insurance policy, you have at least acknowledged that we will all perish sooner or later.
In the event that sooner comes much earlier than later, here are a few things you might want to consider when purchasing a life insurance policy.
Is there anyone in your life who depends on your income?
If your answer is "no," you probably don't need life insurance. If you have any other answer to this question, including “how should I know?” read on.
In simple terms, life insurance protects those who depend on your ability to earn a living. In the event of your untimely death, life insurance provides your dependents with a source of income. Thus the term: income replacement. It can also provide funds for final expenses, such as medical, legal, and funeral costs, should your savings not be adequate to cover them.
Could your family afford your funeral expenses?
More importantly, does your spouse, children, or other dependents count on your paycheck in the years ahead to cover their basic needs and/or future goals? If you are the family's primary bread-winner, what will it cost to replace your income, and for how long will it be necessary?
A single individual - or someone who's one-half of a two-income, no-dependents household - won't likely need much life insurance, if any. With very little effort, you can develop an emergency plan of action with a low-risk savings account to cover funeral costs, and invest the money you would have spent for insurance premiums elsewhere. However, if you have seen success in the stock market, or other investments, you may be a prime candidate for a permanent life insurance plan.
Will your heirs be required to pay Estate Taxes?
The tax imposed on all assets that an individual owns or controls at the time of death, over and above the current exemption of $2 million. This tax is imposed by the state or federal government when property passes upon the death of the owner. Any property you own, whatever the form of ownership, and whether or not it goes through probate your death, is subject to federal estate tax. Currently, however, the federal estate tax is scheduled to be repealed for one year (2010), but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.
Avoiding probate
If you own an asset that designates a beneficiary, that designation supersedes the terms of the will, and the beneficiary will inherit the assets without an executor's signature and therefore without probate. That is the general rule-of-thumb for avoiding probate: merely name a beneficiary of an asset. Not every asset allows for such a designation, but one asset for which it works very well is a life insurance policy.
How would your family manage their living expenses? Imagine yourself gone tomorrow; what would the immediate impact on your family be? Are they counting on your paycheck in the years ahead to cover basic needs and future savings goals? Could they afford the funeral costs? Who would pay the home mortgage? Would your family be thrown out on the streets? Would Social Security survivors and dependents benefits be available? Could they count on help from grandparents or other family members in case of disaster?
How long before your children become self-sufficient?
Children who are almost grown may not need as much additional income as small children or babies. If they're younger, remember that dependent spouses caring for young children can usually return to work at some point. Some older kids may even contribute to the family financially.
Business Continuation Insurance
If you are the sole owner of a business, what will happen to your business when you die? Will any of your family members or employees continue the business? If so, how much cash will be required to keep the doors open? You may need life insurance proceeds to cover any cash flow shortage of the business. If there isn't anyone to keep the business going, the concerns change: How much is your death likely to affect the value of the business?
If you own a small “Mom & Pop” type business, you've worked hard to build a loyal customer base and people have come to depend on your services. If this is important to you, where will the money needed to keep the business alive come from? Finding someone to buy the business may take time and cash will undoubtedly be needed. If you are one of several partners or co-owners, life insurance proceeds can be used to fund a buy-sell arrangement.
How long will the property-transfer process take?
In a ‘perfect world,' after you die, you'll have checking and savings accounts, securities, and/or other resources that will help your dependents cover the cost of any short-term expenses. Most of your property will avoid probate and therefore, there'll be very little need for insurance. If, however, the majority of your estate is transferred by will, and could easily be tied up in probate for months, your family may need the immediate cash a life insurance policy can provide.
What is an Estate Fire Sale?
A fire sale is the sale of goods at greatly discounted prices typically when the seller faces bankruptcy, death, or other hardship. If, at the time of your death, your estate is made up of assets that cannot be quickly converted to cash (real estate, business partnership, collectibles, etc.), there may be a significant financial loss if these assets must be sold quickly to raise the cash needed to pay bills. If, sufficient funds from insurance or other sources are available to pay the bills, you might not need insurance for this purpose. Fortunately, federal estate taxes aren't due until nine months after death, so cash to pay them doesn't have to be raised immediately.
Posted: Mon Nov 24, 2008 04:51 am Post Subject:
Actually we being an agent for life insurance do not try to sell the product rather approach is to 'sell ourself'. When customer is asking any query & if we are able to satisfy him/her with utmost clarity you have won it @ first hand only.
To be a knowledgeable person on one's profession is a general thumb rule which is applicable to all the areas is what applies here in insurance too.
Posted: Mon Nov 24, 2008 09:48 pm Post Subject: insurance
Mmm. Why don't insurance agents just come out and say, "this is what I would like you to hear/talk about."........instead of 'beating around the bush'? Why..."sell yourself" when the 'product' you are selling is not you? I'm just giving my opionion from a 'consumers' point of view.
Posted: Thu Jul 09, 2009 05:19 pm Post Subject: Hi
Dear sir iam working as agent in call canter and my job is to sell life insurance can you give some sales tips and rebate ls
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