That title is designed to get your attention. But maybe you’ve had this thought before: It’s getting harder and harder to sell life insurance. Nobody wants it. Should I throw in the towel?
If you’ve ever wondered, Is it time to stop selling life insurance? Then this article is for you.
In his article, “Stop Selling Life Insurance – No One Wants It!” author Lloyd Lofton urges producers to change their “why” for selling life insurance.
Selling life insurance the right way
Lofton contends that people don’t want life insurance. What they want – and need – is much more.
Consider a family with two wage-earners. They have the luxury to invest, spend more upfront on things like groceries and other household items to save money over the long-term.
This lifestyle depends on both people working. The same is true for single-income families in which the working partner makes enough money to support a certain living situation.
Lofton’s article explores what life can look like when one wage-earner dies, leaving the surviving spouse in unknown territory.
The focus shifts from being able to plan ahead to often simply do their best to eek by on a day-to-day basis. In many situations, it’s no longer financially feasible to buy in bulk to save in the long run. But buying according to the highest quality factor falls to the wayside in favor of purchasing what can be afforded in the moment.
Poverty can become a very real possibility for people who have never before been faced with lack. An unexpected consequence is a sense of shame and embarrassment due to their new lot in life.
Here’s what people want
As Lofton's article points out, people don’t want life insurance.
They want what life insurance can provide for them if they face the loss of a wage-earning spouse.
And if you can harness this desire, your sales will really take off.
How to sell life insurance now that you know this secret
As a producer offering life insurance to potential customers, these are the ideas you should have at the forefront of your mind and how you should approach prospects.
Help them see what life insurance can mean to them and they’re more likely to buy-in.
Interested in reading the full article?
Click here, Stop Selling Life Insurance — No One Wants It!, to find out why you should consider a shift in your thinking.