3 Options Pertinence

[KRobby]

Not the 3 quote close, but the 3 options regarding ways to handle the fe expenses. "Do nothing, prepaid funeral plan, or purchase a fe policy".

I have noticed some top agents hit these options early and in every presentation while other top agents focus on WL guarantees vs term and seem to not even bring up the prepaid funeral option.

This begs the question, are many prospects that return the fe cards even considering something like a prepaid option, or to them, are the choices simply deciding the best kind fe policy (as opposed to doing nothing)? Are the home run hitters going over this sometimes costly prepaid option and find it essential to cement their direction, or do they feel it's a waste of their prospects limited attention span and mostly irrelevant? Figured this might get a good discussion going for those of us rookie fe agents trying to further our education on this unique market.

ROBBY

 

[Rearden]

Not the 3 quote close, but the 3 options regarding ways to handle the fe expenses. "Do nothing, prepaid funeral plan, or purchase a fe policy".

I have noticed some top agents hit these options early and in every presentation while other top agents focus on WL guarantees vs term and seem to not even bring up the prepaid funeral option.

This begs the question, are many prospects that return the fe cards even considering something like a prepaid option, or to them, are the choices simply deciding the best kind fe policy (as opposed to doing nothing)? Are the home run hitters going over this sometimes costly prepaid option and find it essential to cement their direction, or do they feel it's a waste of their prospects limited attention span and mostly irrelevant? Figured this might get a good discussion going for those of us rookie fe agents trying to further our education on this unique market.

ROBBY

I very rarely mention pre-planning or pre-need plans in the context of paying for final expenses.

However, I work cards that say "life insurance" on them, so most people understand what they are getting involved with to some extent when sending the card back.

Questions about paying for the funeral at the funeral home as an option do come up from time to time. My strategy has always been to quote the range of a pre-need plan to them on an approximate basis and watch them squirm at how out of range the premiums are (it always goes back to price for our market place).

Then it's a simple process of showing the alternative and asking them which they'd prefer (get something they CANNOT afford, or take something they CAN).

 

[KRobby]

Yeah I think I'm going to lead with the 3 options. Makes sense. The guarantees are just the gravy and differences between WL and term are just sizzle talk for the end. These people barely know what fe insurance is, let alone shop it all day looking for the 'best' deal.

 

[PA Bill]

Basically what you're doing there is "selling out the competition". Eliminating these objections up front by presenting them and then getting them to agree that these options aren't good options at all. You are positioning your FE policy as the best and most cost-effective way to solve this problem.

p.s.- I think you are on the right track here. One of the tough things about one-call closing is people instinctively want to shop around. This is one way to take them shopping (then sell it while you're there)!

 

[KRobby]

Yeah I'm probably just falling for the over analyze bit until a get a few hundred under my belt. Kind of seems people take different approaches but would rather talk leads and imo's Guess it all works.