Objections and Reactions
- Policy too expensive
"I can sympathize with that. Obviously, this was important to you when you were filling it out. You know your budget better than anyone else and you obviously see the value in protecting your HOME for your FAMILY. So tell me (sir or ma'am) how much did you want to put aside in your budget each month to protect your HOME for your FAMILY. In short, how much are they worth to you?"
- Just wanted disability
Go to "Living Breathing Entity Concept." Learn to tell the story. It works every time.
- Just shopping:
Compliment them on that one, tell them they should shop around. Then ask them what their "shopping criterion" are. Your goal here is to teach them that they will get what they pay for. Keep in mind the Yugo concept/story. Go on to tell them who you are, how many companies you shop through and represent for a living and what an "expert shopper" you are.
- Want to talk with spouse
Relate to them personally here with a "significant other" story of your own. Example: "When my wife comes home tonight and I tell her that I have just purchased a policy that will pay this or any future home off free and clear for her because if I die before she does I don't want her to have to ever worry about the home and that is how I want her and everyone else to remember me (legacy concept) I'm guessing she will be pretty happy. What do you think (sir or ma'am)?
5) Is
- Is this life insurance? I don't need life insurance.
Remember that when they ask this question it is probably because they already have life insurance. They are trying to "crawdad" out by "robbing Peter to pay Paul." They are going to be underinsured every time. We have a few scripts on how to approach this. I recommend that you keep the focus on "mortgage protection" and explain to them that true/traditional life insurance is meant for INCOME REPLACEMENT. Remember: "Most people I work with end up needing 2 policies. One for mortgage protection and one for income replacement. Because you already have life insurance, you are ahead of the game. You have taken care of the income replacement, now we just need to do the mortgage protection policy." Try to keep it simple and separate.
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