I don't know if anything like this has been posted here before or not, but these are usually the series of questions we go through with a prospect looking for life insurance. It helps get them involved in the conversation (instead of just telling them what the price is), lets them tell you their goals, and helps open up the dialogue. You always hear people saying how much internet leads suck and that all lead vendors are horrible. What that really means is that the leads are decent, but many agents have no idea how to relate to the prospect, get them involved, and lay out the options for them in an easy to understand manner. ROI on life insurance leads can easily be 10:1 if you know what you're doing. Usually, when we call a prospect the conversation starts out like this:
Me: Hi, I'm calling for Mr./Mrs. ________
Prospect: This is he/she
Me: This is Joe Agent and I wanted to follow up on your request for the life insurance benefits. Do you have a few minutes for me to ask you some questions and see how we may be able to help?
Prospect: Sure
Me: As a little background information before we start, I am an independent agent licensed with over 45 carriers and it is my job to work on your behalf in finding the carrier best suited for your needs based on the coverage you are looking for and your medical profile. Every carrier has different underwriting guidelines and it is important to know that you are getting the best available rate - we will shop your case with all of the carriers to find you the best available program. There is never any charge to you for our services, and the cost is the same whether you purchase your coverage directly through the carrier or through us as your agent. As your agent, we can walk you through the application process, help with difficult underwriting matters, answer any questions you may have, and assist you in issues that may arise in the future (such as a beneficiary change, etc).
Prospect: Wow, that sounds great. I didn't know that.
and then you can go into your questions, which I have attached as follows in Word format, but have also copied/pasted here (yes, I know this is long, but it doesn't take that long to go through the questions with a client, maybe 15-30 minutes, but the longer you're on the phone the better off you'll be):
1. What is your date of birth, height/weight, etc (demographic info - make sure to confirm as many times it's entered incorrectly on the inquiry form)?
2.Are you taking any prescription medication?
3.Are you being treated for any medical conditions?
4.Do you have any family history of cancer or heart disease before age 60 (immediate family only)?
5.Have you used any tobacco products in the last 5 years? Cigars, cigarettes, or other products? Some carriers will give non-smoker rates for cigar users.
6.Do you have any history of moving violations (speeding, reckless driving, etc) or DUI?
7.Any history of drug use (marijuana or hard drugs such as cocaine/LSD/heroin/etc)?
8.Do you participate in any hazardous activities (sky diving, scuba diving, flying aircrafts, etc)?
9.What is the purpose for the insurance? Family protection, estate planning, buy/sell agreement, key person benefits?
10.Do you have any coverage currently in force? If so, are you planning to keep the coverage you already have, or would you like to replace it? If potentially replacing, offer to show them quotes for what they asked for and for the total amount including what’s already in force to re-write. Many people have group life insurance and don’t understand the banded rates, or may have an expiring term policy, crashing UL policy, etc.
11.How much coverage are you looking for? How did you arrive at that amount? Would this be enough coverage if something were to happen to you tomorrow (to maintain current lifestyle, pay off debts, send kids to college, keep a stream of income for spouse, etc)?
12.How long do you want to keep the coverage? If purchasing term insurance, what do you plan to do if you outlive the term selected?
13.Do you think you will need coverage past the age of retirement? If not, how do you plan to pay for major expenses such as long term care? How would you replace the assets spent down unexpectedly – either for the cost of the care itself or the lost time from work spent by a loved one helping with care, or both (throw in other examples as you see fit)?
14.How much do you expect the coverage to cost per year? How much have you budgeted to spend on the insurance?
15.Are you looking for any coverage for a spouse? If not, would you be able to take care of all the household duties without the spouse there, or would you need to hire someone to help? If hiring someone, how do you plan to pay for them?
16.Once you make a decision, when would be a good time for us to walk you through the application?
Hopefully that helps.
Me: Hi, I'm calling for Mr./Mrs. ________
Prospect: This is he/she
Me: This is Joe Agent and I wanted to follow up on your request for the life insurance benefits. Do you have a few minutes for me to ask you some questions and see how we may be able to help?
Prospect: Sure
Me: As a little background information before we start, I am an independent agent licensed with over 45 carriers and it is my job to work on your behalf in finding the carrier best suited for your needs based on the coverage you are looking for and your medical profile. Every carrier has different underwriting guidelines and it is important to know that you are getting the best available rate - we will shop your case with all of the carriers to find you the best available program. There is never any charge to you for our services, and the cost is the same whether you purchase your coverage directly through the carrier or through us as your agent. As your agent, we can walk you through the application process, help with difficult underwriting matters, answer any questions you may have, and assist you in issues that may arise in the future (such as a beneficiary change, etc).
Prospect: Wow, that sounds great. I didn't know that.
and then you can go into your questions, which I have attached as follows in Word format, but have also copied/pasted here (yes, I know this is long, but it doesn't take that long to go through the questions with a client, maybe 15-30 minutes, but the longer you're on the phone the better off you'll be):
1. What is your date of birth, height/weight, etc (demographic info - make sure to confirm as many times it's entered incorrectly on the inquiry form)?
2.Are you taking any prescription medication?
3.Are you being treated for any medical conditions?
4.Do you have any family history of cancer or heart disease before age 60 (immediate family only)?
5.Have you used any tobacco products in the last 5 years? Cigars, cigarettes, or other products? Some carriers will give non-smoker rates for cigar users.
6.Do you have any history of moving violations (speeding, reckless driving, etc) or DUI?
7.Any history of drug use (marijuana or hard drugs such as cocaine/LSD/heroin/etc)?
8.Do you participate in any hazardous activities (sky diving, scuba diving, flying aircrafts, etc)?
9.What is the purpose for the insurance? Family protection, estate planning, buy/sell agreement, key person benefits?
10.Do you have any coverage currently in force? If so, are you planning to keep the coverage you already have, or would you like to replace it? If potentially replacing, offer to show them quotes for what they asked for and for the total amount including what’s already in force to re-write. Many people have group life insurance and don’t understand the banded rates, or may have an expiring term policy, crashing UL policy, etc.
11.How much coverage are you looking for? How did you arrive at that amount? Would this be enough coverage if something were to happen to you tomorrow (to maintain current lifestyle, pay off debts, send kids to college, keep a stream of income for spouse, etc)?
12.How long do you want to keep the coverage? If purchasing term insurance, what do you plan to do if you outlive the term selected?
13.Do you think you will need coverage past the age of retirement? If not, how do you plan to pay for major expenses such as long term care? How would you replace the assets spent down unexpectedly – either for the cost of the care itself or the lost time from work spent by a loved one helping with care, or both (throw in other examples as you see fit)?
14.How much do you expect the coverage to cost per year? How much have you budgeted to spend on the insurance?
15.Are you looking for any coverage for a spouse? If not, would you be able to take care of all the household duties without the spouse there, or would you need to hire someone to help? If hiring someone, how do you plan to pay for them?
16.Once you make a decision, when would be a good time for us to walk you through the application?
Hopefully that helps.
