At MassMutual its all about the fact finders, get as many as you can every week and your gauranteed to close 87% of them on the second appointment they say.
But I'm curious, I hear about agents out there closing clients on the first visit (excluding the order takers) and I wanna make sure I'm not missing out on some secret to a simple one appointment close, if that's even possible with a fact finder approach. And I'm not looking for some bait and switch tactic where you hand out a child safe kit and then bust out a life app.
I doubt you will find any serious life guys doing one call close on financial needs analysis. OCC is more for folks doing package sales . . . MPP with simplified issue, "family" life plans (perm on dad with spouse & child riders), "you will earn a fortune" pitch, etc.
The Mortgage Protection approach is for closing on the first meeting. Doing A review for a client may take 2-3 visits but You should always assume the sale and be ready to complete the app on your first visit.
I worked for a company last year strictly selling Mortgage Protection and we were taught to close on the first appointment. I was very successful closing with a 85-90 % closing ratio it lasted for about 4 months. Then AIG, and the stock market crashed it became a hard sell.
One close can work but I have been successful with doing a Fact find and then coming back with a recommendation and closing. Of course, there are times when the client is ready on the first appointment. I would say don't use any hard ball tactics, build rapport and trust and they will buy.
Actually since August 2008 1 chargeback with this carrier and that was because the policy was rated and I was pressured to place it by the FMO my gut told me that it would fall off and it did.
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Actually since August 2008 1 chargeback with this carrier and that was because the policy was rated and I was pressured to place it by the FMO my gut told me that it would fall off and it did.
Last edited by TDY418 : 05-30-2009 at 03:33 PM.
Reason: Posts merged
Racjac, how in the world did you misconstrue what he said to mean that? Even selectively picking the quote, it doesn't come off that way.
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Actually, now that I think about it, why are you even here, racjac? You come on here trying to act like you're better than others when in reality the vast majority of us work our clients out of debt and teach them to make good financial decisions. How do you think you're different other than the fact that you sell overpriced term and mutual funds with high fees? Get off your high horse and contribute instead of judging or get the hell of the board.
Last edited by briko3 : 05-31-2009 at 08:47 PM.
Reason: Posts merged
As it sounds like you already know, doing fact-finders (which are really "feeling finders") is the only way to sell the clients you will/need to be working with as a Mass rep....meaning permanent life candidates and successful clients with big face amount needs.I do factfinders in every situation every time.
To answer your question about a one meeting close here is some advice. You really need two or more meetings to gather all the data, put together a needs analysis, get agreement on the need, and finally construct the best "life insurance portfolio" (whole life, term, UL, a combination of term and permanent). WITH THAT SAID THOUGH, you should know by the end of the factfinder if the prospect is serious about taking action. If they are, close with this:
"Mr_____, it's very evident from our conversation here today that you realize that you have a need for additional life insurance.
"Let me explain how applying for life insurance actually works. You and I right now prior to putting all the numbers together have no idea how much coverage you need, how much you want to put towards it, or the type we want to go with. But because we know that we need to put some coverage in place here's what I've found makes sense. We complete an application today for all term coverage, we can send money and bind coverage immediatly or we could send the app without any money that's completely up to you on whether you want coverage today. You and I have some more work and thinking to do here regarding your life insurance planning, but the insurance company has a lot of work and thinking to do themselves....so why don't we think while their thinking? By the time your application is approved, you and I would have had the chance to meet at least one or two more times and will know what we want. At policy delivery we can change/adjust/convert the term policy to whatever you have decided you want.
Does this make sense to you?"
You'll be surprised just how many times you'll walk away from a factfind with a completed application. Remember clients make big decisions by compiling many small decisions along the way.
Racjac, how in the world did you misconstrue what he said to mean that? Even selectively picking the quote, it doesn't come off that way.
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Actually, now that I think about it, why are you even here, racjac? You come on here trying to act like you're better than others when in reality the vast majority of us work our clients out of debt and teach them to make good financial decisions. How do you think you're different other than the fact that you sell overpriced term and mutual funds with high fees? Get off your high horse and contribute instead of judging or get the hell of the board.
I apologize but when some one says Quote"You only go on the 2nd appointment for those who promised to buy during the fact find, have the cash, and are insurable"
I dont work that way even if they cant afford to buy I will still help them with their debt roll down and what ever I can.
Never leave them just hanging, thats just wrong.
I apologize but when some one says Quote"You only go on the 2nd appointment for those who promised to buy during the fact find, have the cash, and are insurable"
I dont work that way even if they cant afford to buy I will still help them with their debt roll down and what ever I can.
Never leave them just hanging, thats just wrong.
Racjac,
I have no doubt you mean well and do help your clients. Believe it or not, 90% of the rest of us in the business have the same intent you do. In fact, I don't know many successful producers who are completely "me" driven, usually the complete opposite.
We help people implement solutions to their problems and make a good living at the same time. Being profitable doesn't mean we are selfish, it's actually just the opposite. The money we earn is in line with how many people we are able to help. I encourage you to read these forums with an open mind and I'm sure it will help you add more value to your clients in the long run. Many on here have been doing this full time for decades, they have something worthwhile to share if you're willing to listen.
.....I dont work that way even if they cant afford to buy I will still help them with their debt roll down and what ever I can. Never leave them just hanging, thats just wrong.
Racjac, I am with you in that I always want to help people and that is a big motivator for me. I get involved with people and things sometimes that I shouldn't. But I also understand that time is a limited resource and unproductive sales calls can hurt our success. Too much of that type of thing keeps one from being productive enough to survive in this business. If we are conscientious caring agents and we don't make it in this business then we won't be around to help anyone.
My motivation is help people so I can make money so I can help more people.
Any One Appointment Life Closers?
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Re: Any One Appointment Life Closers?
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