Hello all.
I am hoping to tap into your experience as life insurance professionals... I am a life and health agent of exactly one year. The vast majority of my work has been health insurance up until this point. I have wrote life policies that have fell in my lap but have not gone after that business until now. I have been cross selling my existing book and am starting to have success with people wanting to set appointments to talk about life insurance. I need a good presentation script for my appointments. I know that each appointment will have its own specific needs that I will need to be able to adjust to. I just want a presentation that is powerful as my framework. I seem to work well that way. Anyone willing to share one that has worked well for you? Any direction at all would help... Thanks in advance.
Life Insruance Presentation Script
Moderators: Josh, independent guy
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d's insurance store
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Re: Life Insruance Presentation Script
This is NO MAGIC SCRIPT!, and I'll repeat that...there is NO MAGIC SCRIPT!
If you use a canned presentation, you'll sound like a robot and you'll be ignoring the number one key to successful selling...listening to the propsective client.
Every presentation is going to be different if you're doing a successful job of offering 'solutions' because every life insurance prospect's specific motivations and needs and triggers are going to be unique to the situation.
The key to life insurance selling is numbers...the more people you're talking to, the higher likelihood someone will pull the trigger and sign an application. Not everyone inquiring about a life insurance policy is ready to commit...just accept it and move on. If you want to increase your sales, then initiate some kind of regular contact program via email or telephone, checking back to see if the interest level has increased. But you can't be a pest and many of those contacts will never pan out, or they'll have an itch and scratch it in the moment, forgetting that you even exist.
And the other key to success is to offer what is good for the client...really good for the client...none of that stuff where you're selling into the commission and not to the need. If a client wants cheap term, you offer cheap term...not some overpriced perminant or annuity plan. If you want to offer alternatives, then by all means do so, but clearly give the client a choice and accept their decision.
When I worked for one of the captive giants, life insurance sales was the key measurement for success within their system. Whenever the heavy life hitters were brought into business settings, younger agents would gather and cluster around, always asking for the 'magic phrase' that would get a client to sign on the dotted line, thinking that the successful life agent had some hypnotic ability to 'force' people to unwittingly sign up. That didn't exist...it was just talking to everybody about the need and availability of the product. Good luck.
If you use a canned presentation, you'll sound like a robot and you'll be ignoring the number one key to successful selling...listening to the propsective client.
Every presentation is going to be different if you're doing a successful job of offering 'solutions' because every life insurance prospect's specific motivations and needs and triggers are going to be unique to the situation.
The key to life insurance selling is numbers...the more people you're talking to, the higher likelihood someone will pull the trigger and sign an application. Not everyone inquiring about a life insurance policy is ready to commit...just accept it and move on. If you want to increase your sales, then initiate some kind of regular contact program via email or telephone, checking back to see if the interest level has increased. But you can't be a pest and many of those contacts will never pan out, or they'll have an itch and scratch it in the moment, forgetting that you even exist.
And the other key to success is to offer what is good for the client...really good for the client...none of that stuff where you're selling into the commission and not to the need. If a client wants cheap term, you offer cheap term...not some overpriced perminant or annuity plan. If you want to offer alternatives, then by all means do so, but clearly give the client a choice and accept their decision.
When I worked for one of the captive giants, life insurance sales was the key measurement for success within their system. Whenever the heavy life hitters were brought into business settings, younger agents would gather and cluster around, always asking for the 'magic phrase' that would get a client to sign on the dotted line, thinking that the successful life agent had some hypnotic ability to 'force' people to unwittingly sign up. That didn't exist...it was just talking to everybody about the need and availability of the product. Good luck.
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AppointmentSetter
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Re: Life Insruance Presentation Script
Great reply, this is a number game.
Look at a couple variables here:
How many people can you call (legally, scrubbing against the DNC etc) each hour.
What is your conversion to appointment on those calls you placed.
Then, what is your conversion to sale percentage and your average commission per sale.
You must know all of that info! Once you know the numbers...you have what it takes to grow your business like a real business does.
The average agent placing residential calls from their office are paying themselves less that 3 dollars per hour. Why?
Because I'm being honest with you. You dial too slow, you listen to answer machines, you listen to the phone ringing....and hopefully you actually talk to a live person about 1 in 4 calls. Now since you can pay someone $5.25 per hour to do that work for you, and they are twice as fast as you, then you are paying yourself half the 5.25 hourly rate. That really places the value of yourself calling at just $2.63 per hour.
Your high wage production is achieved when you are in front of your prospect during a presentation. Never when you are simply cold calling.
So lets say that someone sets 10 appointments per week for you at a cost of $210.
The cost per appointment is $21.00.
IF your conversion to sale is "one out of three" your cost of sale is $63.00 minus travel etc.
IF you earn an average of 200 per sale, you net $137.
So just input what your true variables are.
NOW just figure out how many appointments you need per week to match your income needs. Then pull the trigger!
Look at a couple variables here:
How many people can you call (legally, scrubbing against the DNC etc) each hour.
What is your conversion to appointment on those calls you placed.
Then, what is your conversion to sale percentage and your average commission per sale.
You must know all of that info! Once you know the numbers...you have what it takes to grow your business like a real business does.
The average agent placing residential calls from their office are paying themselves less that 3 dollars per hour. Why?
Because I'm being honest with you. You dial too slow, you listen to answer machines, you listen to the phone ringing....and hopefully you actually talk to a live person about 1 in 4 calls. Now since you can pay someone $5.25 per hour to do that work for you, and they are twice as fast as you, then you are paying yourself half the 5.25 hourly rate. That really places the value of yourself calling at just $2.63 per hour.
Your high wage production is achieved when you are in front of your prospect during a presentation. Never when you are simply cold calling.
So lets say that someone sets 10 appointments per week for you at a cost of $210.
The cost per appointment is $21.00.
IF your conversion to sale is "one out of three" your cost of sale is $63.00 minus travel etc.
IF you earn an average of 200 per sale, you net $137.
So just input what your true variables are.
NOW just figure out how many appointments you need per week to match your income needs. Then pull the trigger!