Cold Call Pitch. Opinions??

[apstanford53]

Ok so i mostly cold call in order to get appointments. Well, i only cold call lol. Mostly because i just got into the industry. However, i have found when cold calling my life insurance list a lot of people say they already have a policy through one company or another. My plan or idea rather, is to start marking those to call back at a later date using a different pitch. I would like your opinion on the pitch,

Hey mr/mrs_________?

Hey this is ________, Im a loca lifel insurance agent right here in ___________ and i actually do policy reviews for the top life insurance companies in america. I was callinh to see when the last time your agent came by to do your policy review?

(In most cases, they havent seen the agent since he got paid off their policy, so they have never gotten a policy review)

Oh no.... Well ill be honest youre really supposed to have it done at least once a year... When did you get your policy??_________ okay well yeah you need a review asap, ill tell ya what i have an opening on thursday and friday, what day would best for me to come out there and get this done for ya?



Opinions???

 

[DHK]

What is your value proposition? Why would someone want to meet with you? Just because YOU say they need to have their policy reviewed every year???

Also... drop the "I'll be honest" line. That instinctively means that you're not honest the rest of the time, unless you say that.

As for asking the appointment, I usually ask if mornings or afternoons work better, rather than suggesting two different days.

***

However, with all that said, this is what happens when you introduce yourself as a life insurance agent. You have positioned yourself as a policy salesman and you don't have anywhere else to go with it.

People buy based on emotion and justify their decisions on logic. So far, you haven't evoked an emotional response or reason for them to meet with you for any reason.

You need to take the emphasis off of their current policy (or policies) and onto a reason for them to want to meet with you.

Unfortunately, I don't know your training and background. I can't just "give" you a line that I use... primarily because I take a holistic, almost 'financial planning' approach to my contacts. Unless you have in-depth training like that, it may not work for you.

But here's the idea: Your job is to sell 'peace of mind'. If a prospect feels that you can help enhance their peace of mind, they may choose to meet with you and experience the kind of work you do.

Here's what I say and do: "Hello X? My name is DHK. I'm a Lifetime Wealth & Retirement Manager here in (city). Do you have a quick minute to talk? (Or... Is this a good time to talk for a quick minute?)"

"I manage the finances for a few families here in town, and thought I might reach out to some of my neighbors. And so I'm reaching out (or I'm out and about) asking this: "On a scale of 1 to 10... where a 10 is absolute perfection... and a 1 is a train-wreck disaster... how would you rank your overall financial situation today?"

If they say a "10"... they're blowing you off. Just ask if they can think of any way you can be of help. They'll probably say 'no'... so thank them for their time. Move on.

If they say 1-4... there may be some serious issues and they may not be a good prospect. Ask a few questions, but they'll probably not be the idea prospect for you right now.

If they say 5-9... that's the 'sweet spot'... because things are okay, but they would like some improvements.

"If you had a realistic magic wand... and could turn your situation into a '10'... what would you like to see changed?"

Make sure you're actually LISTENING... and if they mention some of the things where you can help, say so in a question like this:

"If I could help you to reduce or eliminate your debts, fund college educations for your children, get the life insurance you need to protect your family, pay off your home 5 to 10 years early, and have the retirement of your dreams... would it be worth sitting down and talking about?"

Now set up a good time to meet.

You can also add something to the effect of: "Just to let you know a little about how I work: During this first meeting, I won't be asking you to buy anything. We'll simply be talking and I'll be asking you a few questions about your situation, and you can judge me and my work for yourself."

Let me ask you this: After reading this, have I evoked an emotional response? Does it matter if you have other advisors or other policies? I'm talking about a process and a methodology of helping the client with ALL their financial goals... not just to 'evaluate their policy'.

To get some training on how you can accomplish the above for your prospects & clients, I recommend the training and resources from Insurance Pro Shop.

 

[davephx]

I'd never take seriously anyone saying "hey" but I'm an old timer

 

[apstanford53]

Dhk thanks for the advice, i usually try to swing people from their old policy to a new one with accelerated benefits, so thats kind of where i go with it once i find out how old their policy is. Honestly i do that mainly because i like the accelerated benefits policies, seems like it protects the family from alot more. So i guess thats the approach i take.

 

[pcbinsurance]

"I'd never take seriously anyone saying "hey" but I'm an old timer"
***************
It's all in where you live and who you are talking to. Down South, "Hey" is the same as saying hi or hello. I prefer Good Morning or Good Afternoon to HEY but folks around here say Hey all the time.

 

[Justin Bilyj]

if I cold called for life insurance, I would automatically assume they have a policy going into the discussion, your best bet is to wedge the benefits, or the agent reviews ever X amount of years, or to remind them if they have a group plan, its probably just a certificate whose rates would jump massively should they decide to leave the job or the company closes down (I am reshopping a couple's life insurance this week from this same conversation).
What if they tell you they don't have any, then you can ask them, why they haven't taken care of such an important task.............and go from there.

 

[apstanford53]

Yeah, very good points. As far as location i am in the south, all we habe is farmers and factory workers lol. I appreciatte the input guys

 

[Filip Ambroziak]

You must also remember the best days and time of days to call. I believe I read Tuesday and Wednesday between 4-6pm is best? don't quote me on that one.

 

[DHK]

Dhk thanks for the advice, i usually try to swing people from their old policy to a new one with accelerated benefits, so thats kind of where i go with it once i find out how old their policy is. Honestly i do that mainly because i like the accelerated benefits policies, seems like it protects the family from alot more. So i guess thats the approach i take.

That's one way to go. Unfortunately for me, in California, we have very few policies that have accelerated benefits other than terminal illness. So I have to take a different approach.

Every state is different - culture and product line - so keep this in mind.

 

[AlTheGud1sRtakn]

You must also remember the best days and time of days to call. I believe I read Tuesday and Wednesday between 4-6pm is best? don't quote me on that one.

That's going to depend on who you're calling.

66+ I have the best luck 2pm-5pm. Too late and too many of them are tired and can't/don't want to think.

Working people 5:30-7/8 is best. Sometimes I have decent luck in the morning as well but people are generally in a hurry to get out the door so your calls have to be more brief in the AM.

These times work well Monday-Thursday. Friday is a terrible call day in my experience, but the 66+ market seems to still be ok. Saturdays from 10-1 are pretty good for people who still work as well.