A prospect that wants just enough for cremation

[rousemark]

I wrote a $3K plan on a 62 year old that just wanted enough to pay for a cremation. Try as I could, I could not move her off the $3K amount.. I tried to convince her she really should go ahead with $5K because she might live several more years and by that time it would cost $5K for a simple cremation.

I have written several $3K in the past month for cremations. Do any of the rest of you run into that situation very much? Do you have a way to build the sale or do you just take the easy app and move on? I realize that the "cremation" policy at least gets you in the house and makes it possible to present other products but would really like to increase the life sale.

 

[titeye]

You never know what our clients are thinking. It is very possible that they could be testing both you and the insurance company, wondering if everything is legit. After all, they don't know you. The last thing they want is to be scammed and ripped off. Once they receive their policy and you follow up throughout the year, they should feel more relaxed and open to your advice.

I am on my third policy with 2 different clients and neither one of them have ever seen my face.

 

[shonceman]

I wrote a $3K plan on a 62 year old that just wanted enough to pay for a cremation. Try as I could, I could not move her off the $3K amount.. I tried to convince her she really should go ahead with $5K because she might live several more years and by that time it would cost $5K for a simple cremation.

I have written several $3K in the past month for cremations. Do any of the rest of you run into that situation very much? Do you have a way to build the sale or do you just take the easy app and move on? I realize that the "cremation" policy at least gets you in the house and makes it possible to present other products but would really like to increase the life sale.

I do run into people like that pretty frequently. I just quote them the rate for $5k as if that’s what it takes for a cremation. I’ve never had anyone balk at it. My home service rate for a 62 yr female is only $26.02. If she did balk, I might use a money purchase quote at $20. That would get her $3,709 face. Then ask about grandchildren and add some riders for them.

Sometimes a visual aid can help, right? This chart from NFDA shows cost increases between 2014 & 2019. (It also happens to show a $6k+ price tag for cremation with service and viewing). It comes from a larger article on funeral cost increases during the same period: 2019 NFDA General Price List Study Shows Funeral Costs Not Rising As Fast As Rate of Inflation
Even though the point of the article is to show that funeral cost increases are currently rising at a lower rate than general inflation, the chart still shows a 9.3% increase over the five years. Maybe that will convince them to buy just a little more.

 

[shonceman]

Oops! I forgot to post the chart! (I couldn’t figure out how to upload the file in edit mode.) Here it is:

 

[DayTimer]

I have written several $3K in the past month for cremations. Do any of the rest of you run into that situation very much? Do you have a way to build the sale or do you just take the easy app and move on?

How does the figure come up? Are you sitting down and these folks just say "well all I want is $3,000 to cremate me?" Are you yourself perhaps at any point saying to them something along the lines of "the average burial is $XXXXX and the average cremation is $3000?"

I get people saying they just want a cremation but then I still ask them "If I could design a plan for you that had all these benefits - price never goes up, benefit never goes down, company can't cancel, and builds cash value - would $200 a month be comfortable and affordable for you?"

My avg FE Premium was $71/month last I checked before the pandemic and since I started writing it again in March I am real close to $80/month ... and that includes a number of "I just want to be cremated" clients.

My presentation doesn't really discuss the cost of burials and funerals and cremations unless they bring it up. I have laminated funeral home price lists and craigslist listings for cemetery plots and such in my clipboard but I can't tell you the last time I brought them out. Its been years. I keep the conversation on "what happens when you die? If you went to sleep tonight and didn't wake tomorrow, what happens? How do you feel about that? What would you like to have happen when you die? You know they way things are set up right now that's not going to happen ... if I could fix that for you and the solution were affordable would you want to fix it?"

My FE presentation nowadays is pretty much @jdeasy's with a Tim Winders premium close. I wish I could say I were an original, but everything I do and say in a house just about comes from someone else.

“If you get information from one source it’s called plagiarism; if you get it from two or more sources, it’s called research.”​

 

[rousemark]

How does the figure come up? Are you sitting down and these folks just say "well all I want is $3,000 to cremate me?" Are you yourself perhaps at any point saying to them something along the lines of "the average burial is $XXXXX and the average cremation is $3000?"

I get people saying they just want a cremation but then I still ask them "If I could design a plan for you that had all these benefits - price never goes up, benefit never goes down, company can't cancel, and builds cash value - would $200 a month be comfortable and affordable for you?"

My avg FE Premium was $71/month last I checked before the pandemic and since I started writing it again in March I am real close to $80/month ... and that includes a number of "I just want to be cremated" clients.

My presentation doesn't really discuss the cost of burials and funerals and cremations unless they bring it up. I have laminated funeral home price lists and craigslist listings for cemetery plots and such in my clipboard but I can't tell you the last time I brought them out. Its been years. I keep the conversation on "what happens when you die? If you went to sleep tonight and didn't wake tomorrow, who happens? How do you feel about that? What do you like to have happen when you die? You know they way things are set up right now that's not going to happen ... if I could fix that for you and the solution were affordable would you want to fix it?"

My FE presentation nowadays is pretty much @jdeasy's with a Tim Winders premium close. I wish I could say I were an original, but everything I do and say in a house just about comes from someone else.

“If you get information from one source it’s called plagiarism; if you get it from two or more sources, it’s called research.”​

That's OK.. It wasn't original with them either..

 

[Lawsonhj1]

My direct cremations fixed price start at under $600 complete. This low price kind of forces me to try and sell them something else in addition.

 

[DonP]

Oops! I forgot to post the chart! (I couldn’t figure out how to upload the file in edit mode.) Here it is:View attachment 7038

Lol what’s the $2100 non declinable basic fee ? I’ve talked to tons of people that spent $1000 or less on cremation.Of course when someone insists on $3000 I always bring up inflation and tons of other costs after death . But on younger people under 62 or so I’m saying there’s a $5 k min on the policy . If they keep insisting on $3 k then I say let me look it up and see if they’ll grant an exception.

 

[Lawsonhj1]

Funeral Homes General Price List must follow a specific format because of the funeral rule it is supposed to make it easier for consumers to compare prices in reality probably muddies it up a bit today. Most funeral homes have specific prices for certain packages that may include items from the General price list at discounted prices. For example a direct cremation at the funeral home I use most all inclusive price is less than the non declinable professional services fee. When consumers read a general price list they have no clue because not all items listed are needed for every situation.

 

[OhU812]

I wrote a $3K plan on a 62 year old that just wanted enough to pay for a cremation. Try as I could, I could not move her off the $3K amount.. I tried to convince her she really should go ahead with $5K because she might live several more years and by that time it would cost $5K for a simple cremation.

I have written several $3K in the past month for cremations. Do any of the rest of you run into that situation very much? Do you have a way to build the sale or do you just take the easy app and move on? I realize that the "cremation" policy at least gets you in the house and makes it possible to present other products but would really like to increase the life sale.

With some respect I'm going to try to say this without flaming or shamming you:
1. Don't be a clipboard Quoter. Any monkey can quote prices, be a salesman and SELL YOUR CASE, build your case before you get into price.
2. Who ever trained you needs a good bitch-slapping. He or she handicapped your income by not teaching you how to "SELL NEED" That is to say, everyone has a number preconceived in their mind. It's our job to trivialize that number, knock them off their chair with shock over seeing a huge number then settling somewhere in between.
3. If you haven't sold YOURSELF prior to this your going to have a very hard time... Learn how to sell yourself as an authoritative pro. This is a very important step that many miss in the sales process.
4. Try not to listen or buy into their excuses or mantras. We all catch ourselves buying into their story when they should be buying into ours, it happens to the best of all of us. Hold the line and do all you can to stay on your sales-plan (hope you have one, If not there is more bitch-slapping for your trainer LOL). If you haven't established control of the conversation your prospect will lead you as if you have a ring in your nose. This gets back to salesmanship 101 or 102.

Hope this helps but also understand we ALL take the good with the bad, the big with the little ones. I have written $300 a month deals and $20 a month plans but always start BIG, you want them to choke on the first price, as it's much easier to come down than it is to GO UP !

In FE I always show $25k face premium as the price first. Why? If you never show $25k YOU'LL NEVER SELL ONE. (Now also understand, I would much rather sell five cases at $5k for the obvious agent reasons....)

On the bright side, ring the bell, you sold a case... Never feel bad about that.

Good Luck