Does anyone have a visual rebuttal to the clients that say "I'd rather put the money in the bank and save it then purchased insurance"? A chart or something visual to show the clients how much they'd have to save in an interest bearing acct or retirement acct to net the same face value amount?
Rebuttal
- Thread starter jn8691mr
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- 2,758
What I do is relate it to things they've already bought on time, like their house or car.
"Mr. Buttmunch, did you pay cash for your car or did you make payments?"
I made payments.
"Most people do. Now, you can either save money in a bank your kids get 50 bucks if you die next week...or spend 50 bucks and have 50,000 for your kids. I think it's a 'no brainer', what do you think?"
At any rate....I've uploaded a PDF file which may come in handy, but it's not exactly what you are looking for (the Planning Ahead one). I use it in my presentation. I also tossed in another one I made. Just take them to an office supply and print in color on card stock, about a dollar a piece to print.
- 24,940
A simple way is on a legal pad write down the face amount $1,000,000.00 (big number )divide that by the monthly premium $250.(small number ). That is how many months he has to promise to live. Divide that by 12. Circle the small number then the big number. One of these (tap the premium) buys you this(face amount) today not X years from now. Then move on to the rest of your presentation. Assuming this a family protection plan the beneficiary will normally not like the bad big number (years) as much as she/he likes the good big number.
Of course if they are throwing that objection out there they are not seeing value in the policy yet.
I had this happen last week on a term conversion where he was getting a third of the original face and paying three times more.
- 742
Now that ^^^^^ is awesome. You need to write these down and publish a book for us young guys. I'd be a buyer.
If you use a tablet in your presentation, you could use this..
"Mr Prospect, that is actually not a bad idea but it might have a couple of drawbacks. Let's take a look and see if this works for you"
The visual is created with this..
https://www.calcxml.com/calculators/savings-goal-calculator-how-much
The key here is using HIS numbers. Let him give you the input values with the most important one being the third - Number of years until needed
- 24,940
I would have to use a pencil. Took me 45 minutes to tap that out on this phone thingy.
So is picnic saying he'd tap that?
- 24,940
- 11,273
"I'm confused. If something happened to you next month... how well would your (monthly premium) help your family?"
The difference between this and Jerard's post is that I'm ASKING them... since it's their risk we're trying to insure. Jerard is TELLING them and then asking for confirmation.
Now, if you want to sell a PERMANENT policy... Lew Nason teaches a "5 minute presentation" that makes it very simple. But I can't share it. You'd have to sign up for his member's only site and watch the online videos. It's only $25/month.
http://www.insuranceproshop.com/insurancemarketing/insurancemarketing.html
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