The Sickest Life Insurance Sales Close of All Time
When it comes to life insurance many people are still confused as to how to value their lives. Granted, it’s not an easy thing to do. As an insurance agent though, it is important that the client understands the value of their life. They need to understand the uncertainty of life and how it might affect their families if something were to happen to them. If communicated well, this will lead to a lot more successful sales close.
I was talking to this person the other day and I think it was the sickest life insurance sales close of all time. I am going to talk about that conversation here for everyone to go through.
Matt: Let me ask you a question. Let’s say you were coming home for work or going to any other place in your car or van. It’s just a normal day and you’re going about it thinking about what you have to do next. Now, sadly, let’s say a Coca-Cola or a Budweiser truck crashed into your vehicle and sadly you’re no longer with us. If that were to happen, would your family sue Coca-cola or Budweiser?
Matt: For how much?
Client: They would sue them for everything that they’ve got. They’d want the whole lot.
Matt: What does that number look like? Put a number to it.
Client: 12 million.
Matt: Great! So that’s how much you’re telling me you’re worth.
Client: Yes, right now.
Matt: Do you have 12 million in life insurance then?
Matt: Exactly! If there’s a way we can find you 12 million dollars to be cost-effective to fit your pockets, is that something you would want to include in your current financial portfolio?
Matt: Because remember, I’m using your number! You told me that you’d sue for 12 million dollars. So, you’re telling me that you’re at least worth that much. Here’s another scenario. If your employer, let’s say McDonald’s, told you that they were giving free insurance, would you be willing to sign up? And how much would that number be?
Client: Yes, as much as I can get. Probably 15 million dollars.
Matt: So, in other words, you just told me how much you think you are worth. So, people don’t object to insurance. People object to cost. So, they believe in its value but they don’t believe in its cost.
Client: Thank you, Matt!
Matt: When you’re looking at this conversation, a client might say that you don’t know what my pocket looks like. That’s ok, but you need to ask them why they are making such a profound decision about the creation of your family legacy based on cost. Isn’t that invaluable? And wouldn’t you like to give an inheritance to your kids and your kids’ kids?