I Want to Ask You These Questions

Markingriffin · 08-07-2009, 01:26 PM

I want to ask you all some questions. Just want to see what you all would say.

1. IF you lost 2% of your income , would it have a PROFOUND effect on your standard of living??

2. Would you spend 2% of your income to protect 100% of your income?

I'm working on C.I. Prospecting and want to see something.
What would be your answers?

Carlos Gil · 08-07-2009, 01:34 PM

1. No
2. Yes

djs · 08-07-2009, 01:47 PM

1. Sometimes. I get nervous when people ask this question. I'm shutting down.
2. Depends. Will it protect me for everything? Or is it only protecting me if some highly unlikely event comes along? I mean are we talking about if an earthquake happens due to a tornadoe on Tuesday type of thing? Or are we talking I get laid off and lose my income? Unfortunately, my guess is it only covers earthquakes on Tuesdays....

In all seriousness, I think I know where you are going with this. In my area, asking people to give up 2% wouldn't go over that well. Many have already given up 10% or more due to pay cuts / hour reductions, etc. When times are better, it may not put people on the defensive so fast.

Alternatively, they read something like this, you'll get calls for 'employment' insurance. Not bad, at least they call, lets the conversation begin.

Dan

Markingriffin · 08-07-2009, 02:04 PM

I would be asking business owners these questions and I also wanted to see what you all would say.

WHile talking to some business owners, I can ask them the following to help them start thinking about this.

DO you accept Visa or MasterCard in your business??
Prospect : Yes

"And how much does it cost you to take $100?
Prospect: About 2%, or $2.

DO you feel it is a good business decistion to pay $2 to protect $100 of income?
Prospect: Yes

ALso when talking about Odds, a lot of people are having heart attacks, stroke and cancer theses days that are still working and own a business. The odds are greater then you think. I also have a product that covers 18 conditions.
Of Course you can add ROP to C.I. and D.I. products.

I'm finding an open market to business owners because other agents are not learing about C.I. products and that leaves the door open for me. But I'm working on some of my tactics with them and want to see what you would say to the questions.

arnguy · 08-07-2009, 02:58 PM

Sorry, Mark, on the advice of my attorney, I refuse to answer those questions under the protection of the Fifth Amendment to the U. S. Constitution!

Frank Stastny · 08-07-2009, 04:31 PM

I would immediately know you were trying to sell me something and most likely I would either not want it or be "convinced" that you were blowing smoke at me.

I strongly reject anything that is proposed to me in that manner. Using the "emotional approach" does not work with me. Present me with a straight forward question and logically, using factual information, tell me why you are asking. I don't mince words nor do I want to play games with my money unless I'm in Vegas.

You would be shown the door, the outside of the door at that.

al3 · 08-07-2009, 05:04 PM

Originally Posted by Frank Stastny

I would immediately know you were trying to sell me something ....

I strongly reject anything that is proposed to me in that manner. Using the "emotional approach" does not work with me.

I agree with Frank. Most people today (even in rural areas) have cable and the internet and are just too "aware" of these kinds of leading questions. People's internal radar is far more "improved" than it was ten or fifteen years ago.

I would prefer to start with "Let me ask a simple yes or no question. I can show you a plan that IF YOU CAN GET APPROVED...WHICH IS NOT CERTAIN BY ANY MEANS... that will cost about 2% of your income but will insure 60% of it if (or when) you are disabled. Is that something that would interest you?"

If they answer "no" I ask why? If the answer "yes"... again I ask "why." (Sometimes they answer "I don't understand" in which case you get to embellish it in asking again.)

jmhopkins40 · 08-08-2009, 12:05 AM

Originally Posted by Markingriffin

I want to ask you all some questions. Just want to see what you all would say.

1. IF you lost 2% of your income , would it have a PROFOUND effect on your standard of living??

2. Would you spend 2% of your income to protect 100% of your income?

I'm working on C.I. Prospecting and want to see something.
What would be your answers?

* interesting

xrac · 08-08-2009, 12:55 PM

Originally Posted by Markingriffin

I would be asking business owners these questions and I also wanted to see what you all would say.

WHile talking to some business owners, I can ask them the following to help them start thinking about this.

DO you accept Visa or MasterCard in your business??
Prospect : Yes

"And how much does it cost you to take $100?
Prospect: About 2%, or $2.

DO you feel it is a good business decistion to pay $2 to protect $100 of income?
Prospect: Yes

.....

Mark I agree with the others in that the initial way you phrased it would put me on guard. I think the credit card comparison is better and less threatening.

djs · 08-08-2009, 04:44 PM

Not sure about that.... most business owners view credit card fees as a big hit to their business. They are constantly trying to find a way to pay less (most pay more than 2%).

The problem with thinking in terms of a percentage of income is people either associate it to a tax or to a sales gimmick and I'm not sure either achieves the intended goal.

Of course, maybe not everyone is as cynical as me.

Dan

jdeasy · 08-08-2009, 05:06 PM

Gimmicks rarely work and they never work for the long haul.

Markingriffin · 08-08-2009, 05:11 PM

Thanks for the input. I was reading about this and wanted to see if you guys thought it would work. It was in this months life insurance selling mag, and I didn't know if it would work or not.

Frank Stastny · 08-08-2009, 06:15 PM

Originally Posted by djs

Of course, maybe not everyone is as cynical as me.

Dan

I would be one who is.

arnguy · 08-08-2009, 09:00 PM

My attorney still advises me not to answer those questions, Mark. Sorry!

briko3 · 08-08-2009, 09:30 PM

I don't think it's bad to compare salaries. For ex., would you rather take a job that pays 100,000 and you're on your own if you get sick or a job that pays 98,000 that will pay you even if you're sick and can't work for an extended period of time. Which would you take?

arnguy · 08-08-2009, 09:34 PM

Originally Posted by briko3

I don't think it's bad to compare salaries. For ex., would you rather take a job that pays 100,000 and you're on your own if you get sick or a job that pays 98,000 that will pay you even if you're sick and can't work for an extended period of time. Which would you take?

That's an old one.

briko3 · 08-08-2009, 09:50 PM

Maybe, but which would you honestly take. The beauty of it is that no one would seriously take the 1st. It just makes sense.

Frank Stastny · 08-08-2009, 10:38 PM

Originally Posted by briko3

Maybe, but which would you honestly take. The beauty of it is that no one would seriously take the 1st. It just makes sense.

Maybe and maybe not. Along with "security" comes sacrifice.

If security was what I was looking for I would not have given up an extremely good job, with security, to work on straight commission with no tangible benefits. I went to work in an industry that I had no experience in and didn't have a clue whether or not I was going to be successful.

I guess I'm the one dummy that picked door #1.

robliano · 08-10-2009, 10:25 AM

I think the old school sneaky/trap type of stuff like "If I can save make you money, would you be interested?" may work on some, but not in this era.

It's a thinly veiled insult. I would love to hear a client respond with "No I'm an idiot I don't want to save money" so that the sales person can learn a lesson. The only problem is that the client won't ever tell you, they just won't buy from you.

Frank Stastny · 08-10-2009, 02:20 PM

Originally Posted by robliano

I think the old school sneaky/trap type of stuff like "If I can save make you money, would you be interested?" may work on some, but not in this era.

It's a thinly veiled insult. I would love to hear a client respond with "No I'm an idiot I don't want to save money" so that the sales person can learn a lesson. The only problem is that the client won't ever tell you, they just won't buy from you.

A very looooong time ago I tried using that line, "If I can save you money, would you be interested?". Although I never had someone say those exact words to me the essence of what they said was the same.

It didn't take but a few people saying that before I realized what an "insult" to their intelligence it really was. Before I say anything to a prospect I envision someone calling me and asking the question I am thinking of asking them.