Let’s face it- there’s nothing sexy about selling insurance, but this should by no means take away from how important it is. Selling insurance is one of the most critical and important things that you can sell. I recently sat down with James Gormley (watch it here) to discuss everything insurance related.
You would think that because people need insurances as opposed to wanting insurances, that they would all invest in policies but sadly this isn’t the case. Many people think that they’re invincible and that nothing will happen to them, so they hold off on taking out insurances for retirement, disability, critical illness and life insurance. However, the younger you are when you start investing in these policies, the lower the monthly premiums will be (and the more you’ll manage to put away). This, unfortunately, isn’t the case for people who are older. The older you get, the more of a “risk” you become, and therefore your monthly contributions will be way higher.
When it comes to the above insurances (life insurance and critical illness insurance), the onus is on you to pay, which is usually why people shy away from paying for it. But if you’ve got a family to support, and you don’t invest in these policies- you are being incredibly irresponsible. Should you pass away, life insurance is the last parting gift that you can pass onto your family to make sure that they’re taken care of.
Think about what would happen to your loved ones if something happened to you and you weren’t covered. If you are the sole breadwinner, they would have nothing if you were to pass away, and you would leave them in an incredibly difficult financial situation.
Then think about if you were to get cancer and be unable to work. Your bills would only increase due to your medical condition, but you wouldn’t be working and so you wouldn’t have the means to cover these expenses. We never expect that these things will happen to us, but in reality, they might, and you need to be prepared should it happen. Essentially you’re paying for something that you hope you’ll never have to use, but at least you have the peace of mind that should something happen- you’re covered.
Now, considering everything I’ve just mentioned above and how important these policies are- there are still loads of sales guys out there who fail to convince their prospects that they do in fact need insurances. If you haven’t explained why insurance is important and you haven’t established your prospects need, then you’ve done them a great disservice.
Remember that the fact that they’re meeting you means that there’s an interest. And it’s your job to take them from the small amount of interest that they may have, to convincing them that they need your product or service. Your job is to get them over the barriers so that they have complete faith in the fact that you’re the person that they should be dealing with. You’ve got to increase their level of interest, and trust. If you do this then you’ll be in a much better place to convince them that the insurance policy that you’re selling will greatly benefit them and their families in the long run.
Should you be interested in hearing more on this topic, watch my Facebook live playback where James and myself discuss all things insurance related.