You want to provide your life insurance prospects with the most current information.
They’ll look to you, as the expert, and trust that you have their best interest at heart when you’re recommending life insurance coverage.
This video will help you do just that. You’ll get 10 actionable tips that you can start putting into practice right away.
Watch the video now and get the information you need to help your clients and grow your life insurance business at the same time.
Keep reading after you watch for a summary of these important pointers.
10 Tips Every Life Insurance Producer Should Know
Tip #1: Surround Yourself With Others Who Are Succeeding
When successful people get together and share ideas, it helps you to think more creatively and come up with your own fresh ideas, as well.
This tip is especially helpful for young producers. Surround yourself with veterans in the business to become more successful.
Tip #2: Listen More, Talk Less
Engage life insurance prospects by listening.
You’ll gain valuable insights about what their needs are and what motivates them.
Instead of going into a meeting ready to share your expertise (which, of course, comes in handy – at the right time), make your first comment to your prospect be, “Why am I here?” and let them talk.
Tip #3: Learn Something New Each Day
Life insurance producers tend to segregate themselves from others. This is a bad idea because there’s so much information out there, and the industry is changing every day.
It’s important to stay on top of the latest news, trends, and changes so that when you go into a meeting, you know what you’re talking about and you have the right information.
To do this, you have to be proactive about learning something new each and every day. Plus, every bit of information you gather, whether it’s about practicing better field underwriting or products, will help you to place more life insurance cases in the future.
Remember: A good producer is also a good student.
Tip #4: Don’t Sell Products – Provide Solutions
The worst sales idea on the planet is to say, “I’ve got the best product. It’s going to fit you to a tee,” when you don’t actually know what the prospect needs.
You want to provide them with solutions that help them and/or their beneficiaries, whether that’s their family or a business. Selling a product that is exactly what they need is a true solution.
Tip #5: Tell Stories
Storytelling is effective because it makes the sales process more personal.
You don’t want to simply share a product and tell prospects why it will fix their problem. When you share a personal experience, you’re showing that you’re relatable. Plus it’s a lot more interesting!
Give your life insurance prospects the opportunity to start seeing themselves in the situation you’re describing. You can share statistics and data, as long as you frame it in the context of the story.
Tip #6: Be The Expert (Or Bring In The Expert)
You have to be at the top of your game. Your life insurance prospects are expecting you to be an expert.
But, many producers aren’t experts at life insurance. They’re experts at other parts of the business – investments, other types of insurance, etc. And that’s okay. No one can be an expert in everything. It just means that you have to become an expert or bring in the expert.
You can’t do it all yourself. Plus, many consumers are more confident about working with you when they see you have a whole team of experts at your disposal.
Tip #7: Highlight Benefits Over Features
Always be asking yourself, “How is this going to benefit my client?”
If there’s anything extra that isn’t meeting their needs, take it off the table.
Of course, understanding features is important, but you have to be able to explain how the features benefit your client or they’re just products.
Tip #8: Take Advantage Of Networking Opportunities
There are more opportunities now than ever for networking.
In the past, industry meetings like conventions or annual meetings were the standard.
Today, we have social media – LinkedIn, specifically – to give networking a powerful boost.
But don’t give up on the industry events that you’re invited to (many that you will find out about on LinkedIn!). Professional networking groups are all over the place.
(Of course, COVID-19 has changed the look of most gatherings, whether they’re being postponed or held via Zoom. You should still be a part of as much as you can.)
Sometimes the issue is that you don’t want to take time to invest in yourself. However, there are benefits that you shouldn’t ignore.
For example, ideas will be flowing and you never know when you may make a connection that will help you in your life insurance business, perhaps someone who is an expert in an area that you only have a basic understanding of.
Plus, networking with other people in your industry can naturally boost your confidence. Don’t put off investing in yourself.
Tip #9: Ask For Favorable Introductions
Note, this is not just simply saying, “Hey, can you refer me to somebody?” There’s a specific way to ask for a favorable introduction.
People (your clients) will forget. Successful life insurance producers don’t forget. When you ask for a favorable introduction, it gives a better impression and makes the person you’re asking realize, “Oh, they’re not just asking for a referral.”
Here’s a strategy that works well and doesn’t require you to come out and ask:
When you’re placing a case or delivering a policy, ask your client if they have a CPA or an attorney. If they say they do, ask the client if they would mind if you sent a one-page to their professional as an introduction, along with your card, to let them know that the client just did some insurance business. It’s something that should be in the client’s file anyway, and you’re getting an introduction in the process.
Tip #10: Set goals and deadlines
Successful life insurance producers all do this. They set goals and they work toward them religiously.
They give themselves deadlines to make sure they’re planning ahead and closing cases to meet those goals. It requires discipline and organization, but it will pay off.
Bonus Tip: Be memorable
Another characteristic that all successful life insurance producers have in common is that they’re all memorable.
Having a good life insurance General Agency to give you support, training, and to fill in the gaps in your expertise is invaluable.
Let’s talk about how LWT can help you put these tips into action for your life insurance business, get more prospects, and place more cases with education, training, and support.