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Wednesday, 7 March 2012

Selling is life or death.

I have been asked by a Sales Manager who I mentor,

"What’s the best way to sell life insurance?"


In the old days it was

“Reverse a hearse into their drive way, and then let them smell the flowers!”



Life Insurance was sold on a “Peace of Mind” Value,
“think of how your loved ones would be able to cope after you’re gone”. 
The Policy Holder inevitably, paid in but was not paid off.

I had identified with the Sales Manager his staff member with most success. 

She was a New Hire a Graduate Trainee, selling the product well. 

What was her secret? 

“I focus on women with new babies!” 

pram and baby

Every time a Pram comes in I ask
Have you thought of increasing your own and your husband’s life cover to include the new baby?”

The most frequent answer is “We hadn’t thought about it yet.” 

Then, I give them a short overview on Fatal Illness and Life Cover. 

She was having the most success in the office!

There are a couple of really useful points. 
When “Change” happens we are more open to other “Changes”. 

Responsibility is just as good a “motivator” as fear

AWARENESS is the first stage in any Buying Process. 

Spot the market, prepare the offer, give the insight,
construct the Value and let the Customer Buy.

We reviewed “CHANGES” in people’s lives that might provoke an Insurance review, we found 7. 

We ran a short workshop for five staff,
on identifying changes and when identified how to introduce an “Insurance Cover Review”. 

The most successful "change" now is “empty nesters”,
over-insured Parents whose children are no longer dependant on them. 

The product?  
A reduced cost policy which meets their current reduced needs.


Insurance really is a cradle (or Pram) to grave business. 

So too, I think, is Selling!

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