Best Way to Explain & Impress Insurability to a Client?

[traceyemoon]

I looked in the search engine and found many/lots/a bunch of posts and articles about insurability for babies, kids, teens, LTC, MedSupp.

Looking for some ideas how to stress the concept of sealing the insurability with adults (not just the millennials) who say that they will get around to it. Went with the numbers, but the eyes just gloss over. Maybe there is a best way to present it?

Suggestions?

 

[VolAgent]

Yeah, my eyes would glaze over too if you went with numbers.

Hopefully others have better ideas, however I have found nothing better than, "What happens if...." You don't come home, you come home broken, you have an accident, a major illness, etc. Pick the one that applies the most to what you are wanting to sell.

If that doesn't cause a conversation, then in my experience you don't have a prospect and you should work on your prospecting versus your presentation and conversation.

 

[DHK]

Insurability on a life is similar to insurability on a building.

If a building burned down... can you get it insured AFTER it burned? No. You need to have it in place BEFORE something catastrophic happens. After it has burned down, you probably can't get any new insurance until there's a new building built and it passes an inspection.

The same thing is true with our health insurability. You never know when something can happen that can affect your ability to buy insurance. And similar to a home or building inspection, a paramedical exam is often required to help the insurance company evaluate the current level of risk.

I was 29 when I had a case of Bell's Palsy. Bell's Palsy causes a temporary paralysis of facial muscles. The signs can seem like a kind of "mini-stroke". The doctor prescribed some steroids and I was fine within 2-3 weeks.

Now, that did not affect my insurability, but it did tell me that anything can happen at any time, no matter how "safe" you are in your life.

 

[jboussea]

I'm with VolAGent on this one .. Ask the client.. and let the client answer ... Let the client tell themselves .. rather than listen to you tell them ..

 

[Macpapi1]

One of my favorites is to ask either one of the 2 people a financial question and when they turn to the other one for an answer, Then I say, "just imagine not being able to turn to "John, Bill, Mary" for that answer" and having to make ALL future financial decisions without the benefit of " ?? " advice. How much of that stress do you want to avoid?

We tend to insure against what MIGHT happen, theft, fire, flood, accident, etc.
Then ask why do you hesitate to insure an event that's GUARANTEED to happen? Touch on that emotion.

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Have a lot of real life stories/examples that you can tell. People love stories especially when they can connect EMOTIONALLY. The more personal the story, the better. Ask about THEIR stories that they've experienced over the years. Recalling a specific one from their past may just be the deciding factor.

 

[bobson]

I looked in the search engine and found many/lots/a bunch of posts and articles about insurability for babies, kids, teens, LTC, MedSupp.

Looking for some ideas how to stress the concept of sealing the insurability with adults (not just the millennials) who say that they will get around to it. Went with the numbers, but the eyes just gloss over. Maybe there is a best way to present it?

Suggestions?

You need a story about someone you thought was healthy who applied for life insurance and was denied or highly rated. Don't do a death story because that just brings everyone down.

 

[DHK]

Magic Johnson is pretty good for that. It was by applying for a MassMutual insurance policy he discovered he was HIV positive.

 

[traceyemoon]

Thanks for the suggestions!

DHK: You have a great way of making something that I have complicated into something easy to relate to. The building insurance example makes sense and I had forgotten about Magic Johnson.

Bobson: I agree. I would rather go with a non-death story. Compel them to want to buy Life, not depress them.