4 Reasons You’ll Hear “No” When Life Insurance Prospecting
- “I’ll buy it on the internet.”
- “I don’t need it.”
- “I can’t afford it.”
- “I’ve got plenty of time.”
It’s not shocking information that life insurance prospecting is full of “no”s.
In your business, you’re used to hearing excuses for why someone doesn’t need the product you’re offering.
The problem is, they’re wrong. And we’re giving you the strategies to overcome the objections and refute those arguments against purchasing life insurance.
You can turn a “no” or a “maybe” into a “yes,” place more cases, grow your business, and increase your profits.
Here are some of the most common reasons you’ll get a “no” when life insurance prospecting – and how to turn it into a “yes.”
“No thanks, I’ll buy it on the internet.”
The truth is, consumers often don’t know what they’re missing when they choose to buy life insurance on their own, with no input or guidance from a professional.
To overcome this objection, show your prospects that they need your expertise. Help them understand if they’re underinsured, present the best solution for their unique life insurance needs, and help them determine how much they need.
It won’t take long for them to see that they’re much better off working with you than flying solo.
“No thanks, I don’t need it.”
This is one of the most common reasons you’ll hear a “no” when life insurance prospecting.
People either think they don’t need it or that what they have is enough.
Maybe it is, but maybe it’s not.
As the expert, it’s your job to figure out if they’re right. Use the guidelines you already know (or that your life insurance General Agency helps you out with) and kindly refute the incorrect notions they have.
Consider the fact that your prospect may have purchased the cheapest plan and are underinsured and don’t want to face the fact that they need more coverage.
When you don’t challenge them with the facts and fail to dig deeper into their situation, you don’t help your prospect or client solve their problem, and you certainly won’t place the case.
Keep pushing until they have the life insurance coverage they need. They win and you win.
“No thanks, I can’t afford it.”
Many people have their money separated into a few categories, like savings, spending or “fun” money, and investing.
When you’re life insurance prospecting, you can count on the fact that you won’t be getting anyone’s spending money. And the person you’re talking with may believe what they contribute to the other two categories puts them at their limit.
But, showing them the tax benefits may just change their mind – and position you as the trusted life insurance guide they can’t do without.
“No thanks, I’ve got plenty of time.”
The sad truth is that far too many people look at life insurance as something they don’t need to think about until “later.” They’re not planning on needing it anytime in the near future.
What they fail to realize is that bad things happen when you least expect them.
Make sure part of your life insurance prospecting strategy is showing potential clients that they need to be prepared for the unexpected.
The Keys to Life Insurance Prospecting Success
No matter the reason, with some well-prepared arguments in your back pocket, you can overcome objections to purchasing life insurance.
Whether your prospective client thinks they have plenty of time, not enough money, they don’t need it at all, or they’ll just buy it on the internet, your job is to show them that they can rely on and trust your expertise.
You know what else you need in your back pocket to help you win at life insurance prospecting? A great life insurance General Agency.
Get in touch today and let’s talk about the benefits of partnering with Leisure Werden & Terry.