Brief Summary
This video provides a detailed walkthrough of a sales script for selling final expense life insurance, which the author claims has helped him generate over $550,000 in sales in his first year as an agent and build an agency with over $8 million in sales. The script focuses on building trust, understanding the client's needs, and presenting value-based solutions.
- Introduction: Lowering the client's guard with warmth and a smile, stating the reason for the call, and identifying the client's needs.
- How We Work: Explaining the sales process and how you find the cheapest plans for clients.
- Medical Questions: Gathering medical information to determine the appropriate insurance product.
- Credibility: Establishing trust by sharing personal information and credentials.
- Discovery: Uncovering the client's motivations and pain points.
- Presenting Options: Structuring three offers (starter, most common, max) to provide value-based solutions.
Introduction: Lowering the Guard and Identifying Needs
The introduction is crucial for lowering the client's guard by conveying warmth and sincerity through a smile. Begin by stating your name and the reason for your call, referencing the request they submitted online. Mention specific information from their lead card, such as the beneficiary's name, to show that you have their details. If the client doesn't remember filling out the form, remind them by mentioning specific data from their lead card. Determine if they have existing life insurance, as this impacts the value proposition. If they don't have coverage, find out if they're looking to leave a gift for their family or cover burial expenses. If they do have coverage, ask if they want to add to it or find something more affordable.
How We Work: Explaining the Sales Process
In this section, explain your sales process and how you help seniors find the most affordable rates. If you're a broker, mention that you work with multiple companies to shop the market for the best plans. Maintain a professional and straightforward tone, assuring the client that you'll find the most affordable plan for them. Avoid setting appointments during the intro; instead, push through the process to maintain control of the situation.
Medical Questions: Gathering Information for Underwriting
During the medical section, act as an expert by asking questions swiftly and confidently. Use a separate window or computer to enter the information into an insurance toolkit as you gather it. Group questions together to maintain speed and smoothness. If the client answers yes to any questions, gather more details. If the client is a diabetic lead, confirm the age of diagnosis and whether they're taking insulin or metformin. Ask about complications like neuropathy, retinopathy, diabetic coma, or amputations. Inquire about medications like gabapentin or lyrica, which indicate neuropathy. Also, ask about anxiety, depression, kidney disease, liver problems, dementia, Alzheimer's, AIDS, HIV, alcohol, or drug abuse. Finally, ask about COVID-19 in the last 60 days and any recent surgeries or hospitalizations in the past two years. At the end of this section, know exactly which company you are going with.
Credibility: Building Trust and Establishing Expertise
Establish credibility by sharing your first and last name, personal cell phone number, and government lookup identification number (NPN). Encourage the client to write down this information. This builds trust and positions you as an expert with the necessary credentials to assist them.
Discovery: Uncovering Motivations and Pain Points
The discovery phase involves three key questions. Question one aims to uncover the client's motivation for seeking life insurance. Use the phrase, "What had you motivated to start looking around for some life insurance now?" Mirror their responses and ask probing questions to get them to admit they want to cover burial expenses or leave money behind. Question two focuses on the pain point. Ask who would be responsible for funeral arrangements and expenses if they didn't have coverage. Paint a picture of the burden this would place on their loved ones. Use follow-up questions to get them to explain the depth of their situation. Finish with a consequence summary, explaining what their loved ones would have to go through. Question three seeks to understand why they haven't made a decision yet. Ask if they've been looking around for a while and what's been going on. Identify their previous concerns, such as high costs or waiting periods, and aim to solve those issues.
Finding the Need and Preparing the Downsell
Determine the specific need by asking if they're planning for a formal burial or cremation. If they're unsure, state that you'll ensure they have enough coverage for funeral expenses. Ask if there are any other burial expenses or debts they're worried about leaving behind. Summarize everything discussed to ensure you're on the same page. Finally, prepare for a downsell by asking if having a little something in place is better than having nothing at all, or if having a little extra life insurance would give them peace of mind.
Explaining the Product and Pitching Options
Explain that the product is whole life insurance, emphasizing that the monthly payment will never increase, the coverage amount will never decrease, and it will never expire. Pitch the company by stating that they are eligible for the best option statewide with a well-known and established company. Mention how long the company has been in business, their A-rating, and that they pay out claims quickly. Explain the value proposition, highlighting why they are the best company for the client's specific medical conditions. Structure three offers: a starter option (around $45-$50), the most common option, and a max option. Explain the value of each option before revealing the price. For the max option, express that you don't really recommend it. Finally, ask which of the two options gives them the most peace of mind.
