How to Close a Tight Wad?

Well, you can't use his birthday to create a sense of urgency.:no:

No, cannot. The only thing I believe will create a sense of urgency is how it will overcome a financial detriment (tax benefits) or add to his financial bottom line (retirement benefit etc). He was very focused on those benefits when I presented. I honestly think he has an angel and demon in his mind battling each other.

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While all the responses have been good, I think we're overlooking what is most likely the real reason he's not buying. She said it herself:



He's only using the insurance conversation to have another shot at getting her to warm up to him. He was never a serious prospect, move on.

Can't disagree with you.
 
He's only using the insurance conversation to have another shot at getting her to warm up to him. He was never a serious prospect, move on.

And yet.......
The following things pop into my mind:

Dave Duford sold his guy with the shotgun. I ran for my life from mine.

DHK says there are ONLY two kinds of sales ...............

DHK posted a book ref about a guy whose personal insurance sales exceeded that of some companies of the time.

The op's handle is superwoman.
 
It always goes back to their WHY. Why does he want the life insurance. And I said "want", not need.

People rarely buy what they need. They buy what they want.

And the creating urgency is the stuff of desk jockeys and FOS marketers.

You might uncover an urgency while finding their WHY but you will never create one.

Hind sight is 20/20 and especially when we have limited info to go on. But it reads like this guy was a suspect, not a prospect.

I also find it hard to believe that he wanted a blended plan. Unless he's a former agent he would not come up with that on his own.

Maybe a blended plan was the right suggestion to satisfy his why? But it seems it was presented the opposite of that.
 
And yet.......
The following things pop into my mind:

Dave Duford sold his guy with the shotgun. I ran for my life from mine.

DHK says there are ONLY two kinds of sales ...............

DHK posted a book ref about a guy whose personal insurance sales exceeded that of some companies of the time.

The op's handle is superwoman.

Are you suggesting I throw on my cape and live up to my name?:D

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It always goes back to their WHY. Why does he want the life insurance. And I said "want", not need.

People rarely buy what they need. They buy what they want.

And the creating urgency is the stuff of desk jockeys and FOS marketers.

You might uncover an urgency while finding their WHY but you will never create one.

Hind sight is 20/20 and especially when we have limited info to go on. But it reads like this guy was a suspect, not a prospect.

I also find it hard to believe that he wanted a blended plan. Unless he's a former agent he would not come up with that on his own.

Maybe a blended plan was the right suggestion to satisfy his why? But it seems it was presented the opposite of that.

dont know where you got the idea that HE suggest a hybrid? I did. For the reasoning that it offered the total coverage he wanted, with a premium within his ballpark. Which is not his ballpark obviously as he would've bought already :nah:

My mentor as NYL once said to me if life insurance were free, everybody would want it. But when a buyer has to part with their hard earned money, it's my job to show the value. Either I failed, or he - like a few have said - was not truly interested. In life insurance, anyhow.
 
Again, I would say take care of the need first. Once insured, time to research WL. I run into this sometimes too. What the problem is you've shown him the complexity of life insurance and he has too much information to process, so inaction is the answer because he has too many choices to consider.

While it is very professional to show a person all their options, sometimes it just freezes them up from a final decision. You can tell them let's get the basic coverage in place and then work on the long term solution, but let's get "you" covered first."
 
Surprised no one has given the obvious answer.. Move on and find yourself a prospect. In the time you are going to spend with this guy who will always have another excuse not to buy, you could close a half dozen good sales.
 
And yet.......
The following things pop into my mind:

Dave Duford sold his guy with the shotgun. I ran for my life from mine.

DHK says there are ONLY two kinds of sales ...............

DHK posted a book ref about a guy whose personal insurance sales exceeded that of some companies of the time.

The op's handle is superwoman.

Something to keep in mind.

People tend to share their successes, not their failures. I saw this not to take anything away from Dave or DHK, but the reality most people will tell about the time something worked, not the time it failed.

Personally I suspect the guy just wants to spend more time with the OP and is using delaying tactics as an excuse. Odds are he will never buy the insurance. Ultimately, it doesn't matter. He isn't buying and is using delaying tactics. My advice to the OP is just to move on. Flat out tell the guy, "I wish you well and when you are ready you have my number." I bet she never hears from him again, unless it is of a personal nature.
 
My mentor as NYL once said to me if life insurance were free, everybody would want it.

A college buddy transitioned to life insurance after several years as an investment banker. Don't ask me why he made the switch. Made no sense to me.

He surprised everyone by doing well and consistently hitting or exceeding his quota.

At the end of 2 years and completing his obligation for his advances he promptly resigned. When his manager asked why his response was "Nobody wants to buy this sh*t"
 
Even the very best can not close 100% of the time for the 2nd appointment. We can get to 90 to 95% at best. There are sometimes people dont buy for whatever reasons. If you are getting this type of objection all the time then it is most likely with you. If you are getting this type of objection once a year, you have to learn to let it go. You are more likely to get these at the beginning of your career, if you later just work with referals, you wont run into them as much.

Boiler Room movie has a quote. A sale is made every phone call, either you sell the prospect the junk stock, or they sell you why they don't need/want your junk stuff you are selling. Either way, a sale is made each time. So in this case, despite his medical situation, he has so far sold you, he does not need/value life insurance.

Since you are new, it is harder to pull a medical close for a permanent insurance sale than a term sale. At the beginning, try the medical close on term sales only. Once you have at least 10 term medical closes, you will develop your style and it will get easier.
 
Didnt read all the posts fully... but he either wants it or he doesnt... and its either the right time for him or its not. When you start trying to force things is when you need to just move on and let it go. Not everyone is a prospect, even if they "should" be.

He can always convert the Term. Tell him that it only gets more expensive with time.

"If your serious about this, then you should just get the Term for now until the time is right for the WL". "If your not serious about this, then let me know and I wont bother you anymore".

Then dont call back for 6 months minimum unless he goes ahead and pulls the trigger on the Term. Its not worth your time/energy/effort/emotions.
 
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