There are hundreds of so called "
insurance
experts" on the internet that have hundreds of
misleading tips to offer insurance
sales representativess.
Most of these
insurance selling
tips lead the agent into the opposite
direction to take. Here are just 2 of the hordes of
hints that need be unraveled.
The
reason why is exposed on both methods.
MISCONCEPTION
Insurance Selling
Tip on your COMPETITIONThis piece
of misleading advice wants
you to believe you can learn valuable information by
closing studying what your competition does.
Well the facts show that
Career agency "a" has an
18% agent retention rate of
insurance sales representatives after 18
months, Competitor career agency "b" has a 16% agent
retention rate after the same 18 month time period.
You are told that closely
studying your competition will
show you the find ways your product is
superior.
THE TRUTH #1
It
is certainly a case of bad information from an
insurance sales representative that never learned
how to sell without fear. Do not search for skills
techniques from other untrained agents
no matter how long they have been an insurance rep.
I look at facts, not some fabricated unsubstantiated
information. Your prospect really
does not care if you offer the product of
agency "a" agency 'b', or
lesser known agency "c'.
When you are sitting at the prospects table, you are
the ONLY COMPETITION. Therefore
you must focus completely on you presentation
skills. If your
presentation if given very well, your prospect will
often buy, no matter what company you represent. If
this were not true, there would not be 600 active
life and health insurance companies in existence.
MISCONCEPTION
insurance selling tip: People buy
on PRICE
You are told that the insurance market is
saturated with people who have already bought a
policy like you are offering. In addition you are
told that people are also looking to buy the
cheapest policy available. Add to the misleading
info that insurance is a
"mature product". So to sell it, squeeze it in with
benefits and price.
THE TRUTH #2
Let's start by covering market saturation. If the
market was truly saturated and mature there would be
a shortage of insurance purchasers. Would the person
who came up with this crazy misconception look at
some facts? Millions and millions
of Americans each year buy all forms of
insurance policies endorsed by AARP. They were not
badgered by a local insurance agent, but did the
transaction willingly by themselves. Most
of them next year will purchase an additional
AARP policy, without having anyone comparing
price, competition, or market over saturation to
them.
The misconception that price is so important to
the buyer again does nothing but
scare insurance sales representative. Agents
who feel that price sells policies may think they
are an expert. I know that they are dead wrong. I
would strongly suggest that you stay clear of any
person wanting to buy because your policy costs the
lowest. The next year they will no longer be your
client. Instead they will have become the client of
a different company insurance agent offering an even
lower price.
The price issue is standard mode of operation for
what I consider a lowdown replacement "roller"
agent. And there are thousands of them. Why? They
get the client to buy their policy for slightly
less, and the client losses initial benefits like
the "suicide clause". The agent is the only winner.
This insurance sales
representative gets credit for writing a
brand new insurance policy and is subject to full
first year commissions.
Price is never the primary driver for making a
sale or not. To sell insurance honestly, you must
convince your prospect how each feature you mention
will benefit him. Next, and almost as important, you
must sell your client on you. Have you provided him
for reasons to think you are trustworthy, like-able,
and knowledgeable? Price comes in last place. If you
have motivated your client in the first two phases
often he will be eager to buy. He wants to start
receiving the benefits of your insurance product
right away
One of my
Insurance Selling Tips
You can Bank On
If you are still in the butterfly
stage, try this. Offer your
prospect 2 versions of the product at 2 different
prices. Then ask him which of the 2 suits him the
best. He will usually take the higher priced option.
