Many people are hesitant to buy life insurance because they don’t know how it works or how much they need to buy. You can use this to your advantage when trying to sell more life insurance policies by providing valuable information to guide potential customers toward the right plan without feeling like they’re being sold something they don’t need. Here are the key steps you should take to successfully close more sales and make your customers feel secure knowing that their families will be taken care of if anything happens to them.
Find Your Personal Sales Strategy
The first step in life insurance sales is understanding what you’re selling. You’re not simply peddling a product; you are building relationships with potential clients, so they feel confident buying from you when they need your services. These relationships are vital because if clients trust that you have their best interests at heart, they’ll be more likely to buy from you — and refer others to do so.
Get to Know Your Customers
Often, insurance agents make their best commissions by selling large policies. This, however, isn’t necessarily better for your customers. A $1,000,000 policy is great if you need it — but that might not be necessary if you only have a few hundred thousand dollars in assets. To sell more life insurance and help your customers meet their financial goals, learn about them personally: What do they want from life? How much risk are they willing to take? Do they plan on having children? What are their long-term goals, and how can an investment like life insurance help them achieve those? The answers will help you make the best suggestions for your clients.
Focus on Living Benefits
Begin your life insurance sales pitch by pointing out the living benefits of a life insurance policy, including how it accumulates value over time and gives clients access to the money while they’re still alive. Selling insurance based on the benefits allows the client to find something to relate to. This improves their amiability in considering the life insurance policy. If you customize your sales pitch and make it unique, then you will have a better chance of sealing the deal.