| I believe that selling life insurance is a specialised | | | | How do you do this, not by relying upon statistics |
| skill which embraces all of the functions of every | | | | and other product features but by painting similar |
| type of sale but with particular emphasis upon the | | | | word pictures that confront the prospect with the |
| emotional content of your presentation. | | | | pain caused by his death or injury. The best way |
| You need to overcome not only the normal | | | | I have found to create such a situation is to ask |
| resistance that the prospect has to any attempt | | | | the prospect a question that assumes the worst |
| to part him from his money when being offered | | | | has already happened and then ask the prospect |
| any product or service but there are two | | | | to visualize the results of his death or incapacity, |
| additional factors which the life insurance | | | | upon himself, his business and his family. In fact I |
| representative has to take into account and | | | | would go even further if I were talking to a |
| overcome. | | | | business person or entrepreneur who may never |
| 1) You are selling an intangible product. | | | | have imagined the consequences to a business of |
| Owning an Insurance policy is not like owning a car | | | | the death of the owner. I would paint the picture |
| or some other visible asset that you can see and | | | | for him. For example: |
| use on a daily basis. All the client receives is a | | | | "Mr Prospect, just imagine you had died last night. |
| paper document which is stored away for safety | | | | What do you think would happen to your business |
| until a tragedy occurs which gives rise to a claim | | | | today? Sadly I have witnessed this scene too |
| on the policy or remains in storage for a long | | | | many times. As soon as your bank gets news of |
| period until it matures. | | | | your death they will close your trading account, |
| 2) The prospects do not want to face their own | | | | no more money is to go out. If you have a loan |
| mortality. | | | | account or mortgage on the business they will |
| It is a fact of life that 99% of people do not | | | | want their money back. Most businesses do not |
| voluntarily purchase Life Insurance, it has to be | | | | have that kind of capital to hand, but the bank |
| sold even though the logistics of the everyday | | | | want their cash, they do not want your |
| risks to life and limb and general health hazards | | | | stock,machinery or buildings they want cash, so |
| indicate that protection is a sensible and affordable | | | | they will have a sale, - a forced sale. I have seen |
| option. It is strange that people will insure their | | | | a number of these and they are not a pretty |
| assets such as their cars, their homes and their | | | | sight. This is why contrary to public opinion, the |
| jewellery but never even consider protecting the | | | | more value you have in your business the more |
| one asset that helps create and maintain all the | | | | protection you need. Since it is the business that |
| others, which are their most important assets | | | | needs cash in such an event it is sensible to let |
| their life and their health. | | | | the business pay for the protection you need |
| This is why the life insurance salesperson has to | | | | rather than pay for it from your own pocket. |
| magnify the emotional content in their | | | | People are naturally motivated to move away |
| presentation. A phrase that conjures up a mental | | | | from pain, so the more pain you can cause; the |
| picture of this point is one I learned many years | | | | more the prospect will want relief from it and |
| ago when I was going through my own insurance | | | | highly charged emotional word pictures are the life |
| sales training, "When you are selling life insurance | | | | insurance representative's way to disturb the |
| you have to drag up the hearse and make them | | | | prospect into taking action. |
| smell the flowers." | | | | |