Life Review Script

[Frank Stastny]

I'm an insurance agent and I work on straight commission. If I don't sell a policy today I don't get to eat dinner tonight. Will you buy a life policy from me? If not will you invite me for dinner?

No one wants to have dinner with an insurance agent, they will buy first.

 

[padthaiforlunch]

whats a communique? who knows, a made up word.

Pretty sure I've heard the term before. Something issued by rebels in Latin America.
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Worthy of the Hall of Fame thread.

I typically will do as follows..."Hey Joe this is your insurance agent calling how are things? Look the reason I'm calling is because your permanent life insurance policy looks like it might potentially under perform based off interest rates today and in a nutshell you might not necessarily get what you intended if we dont re-evaluate this thing"

or

"Hey joe the reason I'm calling is because the term plan you took out X years ago is nearing that critical time where you convert it to permanent"

or

"Joe listen...these life policies are like anything else...things change. If we dont make sure these things are the most competitively priced possible, you might end up paying too much on an old policy that is eating your money with internal costs. Obviously life insurance isn't at the top of our list of things to do, but you realy should take the 20 minutes and review this with us, its your money"

create urgency around what they are paying and what they are getting. Don't lie, but truth be told if they are under-funding it and it's going to blow up at age 75, even if they are 50 IT'S STILL MEANT TO LAST FOREVER and the sooner then upgrade to some policy with better coverage protection gurantees THE BETTER.

stay on it, you'll get them.
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we had an appointment setter who used to work for us who would say...

"Hey joe, oh boy im glad i got in touch with you...this is Don with XYZ insurance calling. Look, I got a communique (commune-i-kay) on your life insurance policy from home office and this thing is WAY overdue for your annual review and we really...REALLY..need to meet with you on this thing"

whats a communique? who knows, a made up word. This guy would pull 15 appointments on a saturday and average 8 a day. He had "that type of delivery" where his voice naturally conveyed that pitch man urgency, and some would cancel, but it worked better then anything else we've ever done.

 

[jemelton]

Noun1.communique - an official report (usually sent in haste)

 

[VolAgent]

Policy reviews are best conducted with existing clients or referrals. Cold calling to do policy reviews is a complete waste of time IMO. As Frank said, your job is to sell, policy review is going to be a long sales cycle, if you can get it done. Go for the low hanging fruit, if LIMRAs studies are half right, the country is full of low hanging fruit that wants to buy a policy today. We're just doing a bad job of finding them.

As to Newby's guy, he had a BOX full of policies. I imagine this guy bought a policy from anyone with a pulse, pen and an application, and the guy probably had a pen in case the agent didn't. He probably just asked to see him and easily got an appointment. There are tons of people like that too, they'll buy whatever your selling if you can fit it in their budget.

 

[Newby]

That's exactly right. Don't prospect for policy reviews. The people that need them don't know that they need them.
Just set regular old appointments. Reviewing their current policies is just part of the appointment.