How I Learned To Set Great Life Insurance Sales Appointments With Everyone!
In my last article, I briefly discussed my not-so-grand start to life insurance sales in 1982, while in one of the worst recessions in U.S. history. It was a recession second only to the Great Depression of 1929-1939. However, because I was new to life insurance sales, I was studying and learning everything I could about selling life insurance. I was able to set enough sales appointments and close enough life insurance sales. So, the recession initially was not a big problem for me. In 1982, I led the entire district office with only six months in the business, and I was also a top producer every year after that. But I had a lot to learn about asking prospects the right questions to set life insurance sales appointments with everyone… even calling people from the phonebook!
One of the reasons I was able to succeed every year during the recession, while most agents struggled… Was the agent training, coaching, and mentoring I received over the years from three extraordinary people.
However, in 1983 I Was Ready To Quit…
In 1982, I succeeded in selling life insurance primarily because of my enthusiasm for learning something new – enthusiasm sells! But that changed quickly. During the first few months of 1983, as my enthusiasm waned I received a dose of reality. I was having a big problem setting life insurance sales appointments. I went into a severe sales slump. So I was ready to quit life insurance sales. Fortunately for me, at that same time, Met Life split our district sales office into two smaller branch offices. That is when I met my first real mentor, Mike Wood.
When they split up the district offices, the former district manager Don G. was told to split the office producers evenly, based on their 1982 sales records. Don was to get one group of producers, and then Mike was to get the other group. Don did split up the office evenly, based on the producers’ 1982 sales records. However, he gave Mike all of the producers who were off to a slow start in 1983. Fortunately for me, I was one of them.
When Mike and I met for the first time, he thought he was getting a great producer. Because I had led the office in 1982. However, he was in for a big surprise. Because at our first meeting, I told him I was quitting. After a lot of questions and a long discussion, he finally convinced me to hang in there for a month. He promised to work with me every day for a month and he was a man of his word!
I Could Not Set A Sales Appointment For Life Insurance…
My main problem, at that time, was that I could not set a sales appointment for life insurance with anyone. I had memorized all of the telemarketing scripts for calling on mortgage insurance; X-dating auto insurance policies; annual reviews with policyholders; and referred leads. But I could not set enough life insurance sales appointments!
Mike taught me how to ask the right questions and have a meaningful conversation with potential prospects. Instead of trying to push a product, price, or investment returns, or trying to sell insurance over the phone. His approach to setting life insurance sales appointments on the phone… was to ask prospects enough of the right questions. So people would see that they have a problem. He taught me that if the prospect does not see they have a problem, then why should they take their valuable time to meet with you?
Mike spent several days role-playing the prospect questioning techniques with me. Then, he got on the phone and set a few life insurance sales appointments for me, to show me how it was done. And then, I got on the phone and set some life insurance sales appointments. We were calling people right from the phonebook looking for orphan insurance policy owners from any company.
Important Note: We were not trying to replace existing policies from those other companies. We were looking for people who already owned life insurance – but had not seen an agent in a long time.
How I Set Life Insurance Sales Appointments Calling From The Phonebook…
The questions and conversations with prospects to set life insurance sales appointments from the phonebook went something like this:
“Hello Mr. Jones, this is Lew Nason with Met Life. How are you today?” Wait for a response.
“Great, I’m glad to hear it. The reason I am calling is to ask you some questions about your current life insurance program. If I may ask, do you currently have a life insurance policy?” Wait for a response.
“Great, how long have you had that policy?” Wait for a response.
“When was the last time you met with an agent to review your policies?” Wait for a response.
“The reason I ask is that most people have not seen an agent in a very long time and they are not aware of and are not taking advantage of, some of the unique benefits and features in their life insurance policies. I have also found that when reviewing older policies, many of them have mistakes in them and are not set up properly. And, if I may, I would like to meet you and spend 10 minutes reviewing your policy for you to make sure everything is set up properly for you and your family. What is the best time for us to get together?” Wait for a response.
Most of the time, the prospect would ask me some questions. Then we would get into a conversation about the unique benefits of cash-value life insurance, like:
- “Does your policy provide inflation protection?
- “Do you know that by properly setting up the dividends options you can make the death benefit grow each year?”
- “Do you know if your policy is self-completing in the event you become disabled?”
- “Does your policy have the recession-proof clause? Has it been set up to pay the premiums automatically if you should ever miss or do not have the money to make a payment? This would guarantee that your policy will not lapse when you need it the most.”
- “Are all your children listed as beneficiaries on your policies? Many of the policies I’ve reviewed have not been updated to include all the children. Or, they never included any of the children.”
- “Are you paying taxes on the dividend interest? Did you know you don’t have to pay taxes when your policy is set up properly?”
- “How much life insurance do you have? If something happened to you tomorrow how long would that money last your family? Then what would they do?”
- “Do have insurance that would pay off your home mortgage for your family… if you were not there tomorrow?”
The idea was simply to ask prospects the right questions to disturb them just enough, so they would see the benefit of setting a life insurance sales appointment with me. By using this approach, I was able to set life insurance sales appointments with three out of every 10 people I spoke to, calling right from the phonebook. Within a few weeks, thanks to Mike, I was consistently setting 10 life insurance sales appointments and closing three sales per week.
This was my first introduction to the power of asking prospects the right questions.
As a result, I led the branch office in sales for 1983 (even though we were still in a bad recession), and I qualified for my first Sales Conference with Met Life.
Why did calling from the phonebook work so well to set life insurance sales appointments?
1. Isn’t it easier to sell life insurance to people, when they already own some?
2. Because of the large turnover in agents through the years, aren’t there a lot of people who have not seen an agent since they originally bought their policy years ago?
3. Most agents never talk about the exceptional benefits of cash-value life insurance, probably because they don’t know what they are. They have never taken the basic LUTC courses offered by NAIFA or The American College.
4. I was offering them a service, rather than trying to sell them something.
Five critical secrets to using this approach of cold calling… to set insurance sales appointments from the phonebook!
1. Smile when you are on the phone. You must be happy and have some excitement in your voice.
2. Talk a little slower than normal. Because you cannot sound like a salesperson and you cannot make it sound like an interrogation.
3. Talk to them as if you were talking to your best friend, to show some concern for them and their family.
4. Speak at a sixth-grade level, and do not use technical jargon.
5. Practice, practice, and practice – be prepared before you get on the phone!
Will this approach of calling to set life insurance sales appointments from the phonebook work today?
Are you thinking that this approach to setting sales appointments for life insurance will not work today? Because people are much more sophisticated and more skeptical, you are wrong! Most middle-income families are dramatically underinsured, so they do want help. The problem for them is finding someone who is knowledgeable that they can trust. By asking prospects the right questions you are demonstrating, in the best possible way, how they will benefit when they set a life insurance sales appointment with you.
Important Note, according to LIMRA’s ownership research, about 48 million U.S. households believe they are underinsured, including many (about 25%) individuals who say they own no life insurance at all. The same study also showed that 29 million households said they expected to buy insurance in the next 12 months! But only a fraction do.
The great part is that when you learn to ask prospects the right questions, you will set life insurance sales appointments with a lot more of the people you call. This also means you will not need as many sales leads. So, you will save a lot of money on your marketing or on buying leads. And that also does not count the time you will save each week. Because you will not need to make as many phone calls to set life insurance sales appointments.
Mike was just my first mentor and I will be forever grateful for his help, guidance, and friendship – Thank you, Mike Wood.
In our next newsletter, I will tell you about my second mentor who taught me how to ask better questions during the initial fact-finding interview with prospects. This allowed me to close 9 out of my sales calls, and make much larger sales!
When Will You Learn To Ask Prospects The Right Questions To Set Life Insurance Sales Appointments – Even When You Call From The Phonebook?
When will you decide to learn how to set great life insurance sales appointments with almost everyone you talk to? And, when will you learn to ask the right questions in the fact-find? So you will close more and larger insurance sales… even when you call people from the phonebook!
“I have bought just about every system under the sun. I consider myself a system junkie. You may think I am foolish. But I have learned valuable lessons from each system I bought. Although they seldom work as well as they say. I bought, Dean Cipriano’s, I bought Brian Kay’s College Planning, Larry Klein’s Annuity System, Annual Review Millions, and I am sure a few more. But the one that actually helped me double my income twice was the Found Money Management™ System from Lew Nason of the Insurance Pro Shop.
The reason I feel this system worked so well is that it comes with coaching from Lew himself. He has been a wonderful mentor in this business. Lew, I meant every word. I am still prospering from all that I learned from you and so are my clients. Thank You!!!” Antonio Filippone, RFC, FMM – IL (19 years in the business)
“Dear Lew, Jeremy, and Alex, I have been in the financial industry since 1988. I have spent tens of thousands of dollars on training, motivation, and coaching. The total over the last three decades maybe into the hundreds of thousands of dollars. I have been a client of IPS for over 3 years. I have never seen the breadth and depth of material that IPS has. They have the right recipe for success. All you have to do is follow it.
If you are going to invest in your career, I know of no better investment in yourself, than establishing a relationship with IPS. Do yourself a favor, develop the courage to change and grow. IPS has incredible information available, but more importantly they care. They will emotionally invest in you and your career. Most importantly they are good people! All The Best, R. Spencer Childs” Spencer Childs – NV (31 years in the business)
We Made It Easier And Less Expensive To Set Life Insurance Sales Appointments.
Asking people the right questions and helping families to solve their concerns and problems is how you will set life insurance sales appointments with almost everyone you talk to… Even when calling from the phonebook!
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Inside our agent training program, you will find the best insurance marketing plans and strategies to set appointments! You will learn the best ways to use… Joint Ventures; Educational Workshops and Seminars; Booklets and Free Reports; Referred Leads; Social Media; Client Newsletters; Annual Reviews; and more… With all the sales tools, appointment scripts, and more. Now you can find and attract your best life insurance prospects, set your best sales appointments, and close more sales! Because your ‘specialized marketing message’ to everyone is… How you help families (people) find the money to Live Debt-Free and Truly Wealthy!
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“I have been working with the Insurance Pro Shop since 2006 and have used each and every one of their products since then. (For my agents and myself) If you want a chance to increase your income and become the successful agent that you want to be, then you have to be learning from the best. I truly believe Lew Nason and Jeremy Nason and their team have the tools and resources to help mold successful agents. If you aren’t learning from Lew, you aren’t learning from the best!” Dennis Postema, RFC – Postema Marketing Group, LLC, OH (10 yrs in the business)
“I have followed Lew Nason for 3 years, investing in almost every system and video they offer. I don’t know if I would have succeeded in this business except for the systems, training and coaching offered by the Insurance Pro Shop. If I could go back 3 years, I would have attended their ‘Trusted Advisor‘ workshop right from the beginning. What a learning experience!” Alex Onulak, IN (4 years in the business)
When will you invest in the best life insurance training and coaching to set sales appointments… even when you call from the phonebook?
IPS Mini-University In Insurance Marketing And Sales
*** Where To Start… The Secret To Setting Great Life Insurance Sales Appointments With Everyone! ***
Insurance Marketing and Sales Resource Center™
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In December 1999, we created the Insurance Marketing and Sales Resource Center because of the serious lack of marketing and sales training for financial professionals. There is a 95% FAILURE rate of new agents entering financial sales and most agents who survive struggle to make a mediocre income. It is because most agents are being taught to sell products – instead of learning how to help middle-income families find the money to get out of debt and save for their future. Our goal is to provide an affordable way for agents to get all the training they need to guarantee they will succeed and earn a superior income by helping middle-income families find the money to save for retirement to “Live Debt-Free And Truly Wealthy”!
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We are always here to help and guide you every step of the way to find your best prospects, and set appointments to succeed in selling more life insurance and annuities!
Here Is What Our Members And Experts Say About Our Affordable Insurance Agent Training!
“After just reading the first page of Insurance Pro Shop Marketing 101. I learned that I need a new business card, a new tag line and new phone line. That’s just from page 1. Then I asked Jeremy about Final Expense and he said stay away from it. He gave me the reasons why. He also told me never buy a lead. I learned more from him in 3 short 2 minute questions that I learned in the last six years. He has a very calming personality and helps you in any way he can.
I am blessed to have come upon Insurance Pro Shop. Jeremy is a delight and never gets irritated in the slightest and always calls you back. I am very fortunate to have met him at this junction in my life and career. Thank you for giving me the direction and patience I need now.” Neal Merems – CA (34 years in the business)
“Thanks Jeremy! I spent a good three hours reading the material under the membership mini-university (Insurance Marketing and Sales Resource Center) last night and I must say that I learned more last night then I have since entering the business nearly 3 years ago! I think your program will tremendously help my father and I in our business! Thanks,” Bryan Grissum – MO (5 years in the business)
“Just wanted to drop you a quick note about your webinars. Your webinar content has been FANTASTIC! You help to “cut through” to the heart of what’s most important, in order to do an accurate and great job for the client. Sure, you often run past the 1 hour mark, but it’s always been valuable content. IPS always delivers! Everyone who is a student of the life and annuity insurance business needs to hire you to be their teachers for insurance and financial planning. You keep doing what you’re doing. You’re filling a vital need in the insurance training industry. We’re all lucky to have you and your family serving the industry the way you do.” David H. Kinder, ChFC® – CA (11 years in the business)
“Will, thank you so much for adding the Trusted Advisor videos to the Private Member site. (Insurance Marketing and Sales Resource Center) I have watched the videos several times so far. Please continue to add great videos like those to the Private Member site. Best, Ric“ Ric Komarek, RFC® – CA (7 years in the business)
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When Will Take Control Of Your Life – To Succeed In Selling Insurance!
Stop putting it off! When you can get the insurance marketing systems, sales training, and agent support you need to succeed in insurance sales! Learn To Ask Prospects The Right Questions To Set Life Insurance Sales Appointments – Even When You Call From The Phonebook!
IPS Personalized Client Newsletters – Free Personalization
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Your client newsletter is a critical insurance marketing and prospecting strategy for staying in touch with prospects, friends, family, and clients. It is also a key life insurance marketing and prospecting strategy for more repeat sales and referrals (exclusive leads) from your current clients. So, it is a huge key marketing and prospecting strategy to being a successful life insurance agent!
Remember, ‘Out Of Sight, Out Of Mind’ is a deadly mistake for advisors. Why would your clients, friends, family, neighbors, or prospects call you when they need your help? Or when they are ready to buy. Since they never hear from you, don’t remember you, or don’t know how you are helping middle-income families? And, then why would they refer people to you?
Are You Asking Your Clients Enough Insurance Sales Questions? Only $39.95
By Lewis Nason And Jeremy Nason
One of the recurring topics we write about each week… and talk about daily is asking your insurance clients the right sales questions. And then ask your insurance clients enough sales questions! That is because asking your clients questions is one of, if not the biggest key to your success in insurance sales. Accordingly, agents have asked us for a complete list of probing sales questions to use with their insurance clients! As a result, we have compiled a list of all of our favorite insurance sales questions. And we put them all into our limited edition e-book… Are You Asking Enough Insurance Sales Questions? In this 24-page guide, you will find our goldmine of sales questions you should ask your insurance clients to set appointments and close sales. More Details! Immediate Download… Order Now!
A huge agent success key to attracting high-quality sales leads/prospects, setting better appointments, closing sales, and increasing your income selling life insurance is and always will be asking enough questions!
“The key to a life insurance sale is an interview, and the key to an interview is a disturbing question.”
When Will You Read Our Full-Length Book? So You Will Learn How To Help Families!
Middle American Family’s Guide To – Living Debt-Free And Truly Wealthy!
By Lew Nason, LUTCF, CTA, RFC Retired, And Jeremy Nason RFC, CTA
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Important Question… Are you in this insurance business just to make sales? Or are you interested in helping families? Who do you think insurance prospects want to see? Do they want to meet with an insurance salesperson – or a Trusted Advisor who does their best to help them? When will you decide to make a real difference in people’s lives? The more personal insurance agent training, coaching, and sales support you get to learn how to successfully help families, selling life insurance… Then the more you will learn how to help yourself and your family! Nothing will change until you decide to take action to make it change!
When Will You Learn To Ask Prospects The Right Questions To Set Life Insurance Sales Appointments – Even When You Call From The Phonebook?
How I Got Started In Life Insurance Sales… And Led My Office In Only 6 Months!
How To Set Great Insurance Sales Appointments Calling From Your Phonebook With Your Best Prospects!
