Two Reasons Why People Buy Insurance – So You Sell More Insurance!
01/05/2021… There is a little secret that most agents and advisors miss when they want to know how to sell more insurance. The secret is that people buy insurance (or anything else) for only two reasons – 1. gain pleasure! – 2. avoid pain! These two emotions ‘Pleasure’ and ‘Pain’ guide us in everything we do. It is how you help people to buy insurance!
This is called the pleasure principle. It is a term first used by Sigmund Freud to characterize the tendency of people to seek pleasure and avoid pain. Freud argued that people will sometimes go to great lengths to avoid even momentary pain, particularly at times of psychological weakness or vulnerability.
All decisions to buy insurance (or to buy anything) are based on emotions. People either want to gain pleasure or want to avoid pain. Everything we do can be broken down this way. Why do you brush your teeth? Why do people go to the gym every day? Everything we do can be broken down into to gain pleasure and/or to avoid pain.
When it comes to why people do the things that they do, it always comes down to pain versus pleasure. Do you want to learn how to get more people to buy insurance from you? Then you need to understand these two principles and how to use them to sell more insurance.
People Will Do More To Avoid Pain Than They Will to Gain Pleasure!
But for most people, avoiding immediate pain is more important than gaining immediate pleasure. If there is a snake in front of you, versus a bag full of money in front of you, which would make you move faster? Avoiding immediate pain will win over gaining immediate pleasure every time. Studies have shown time and time again that people will do much more to avoid short-term pain than they will to gain short-term pleasure.
We all want to avoid immediate pain. And we all want to gain immediate pleasure. The closer we see it happening, then the more pain or pleasure we will attach to it. But the pain we see happening tomorrow is not as powerful as the pain we have today. And the pain in 20 years is far less important than the pain a week from now. That is why most people have such a hard time saving their money. Even when they know that they will need money to buy a car, save for college, or retire.
How To Help People To Buy More Insurance!
So, if you want to get people to buy more insurance today, then you need to help them to see if they have a problem (pain). And then you need to get them to talk about what will happen if they don’t take action today to solve that problem (more pain).
And that is about you asking the right questions to help people to see they have a problem! Do you have a mortgage on your home? What would happen if your family lost your income… etc.?
Then it is asking more of the right questions to get them to talk about what would happen! So, they will make solving the problem a priority! How do you feel about that? What would your family have to do? Is that what you want to happen… etc.?
The Best Sales Training Videos To Help People To Buy More Insurance!
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Once you get people to see they have a problem and get them to prioritize the problem, then you have to help them to find the money to buy the insurance they need and want for their family.
Remember, there is immediate pain to the thought of spending money you don’t have. Or there is immediate pain if you have to give up something that gives you pleasure right now. And, if that pain is greater than the pain of the problem, then you won’t take action. So, to solve that immediate pain you need to help people find the money, so they can avoid that pain.
The final step is to show people how much better off they will be when they take action right now to buy insurance. Help people to see the pleasure they will gain from buying insurance! And you will sell a lot more insurance!
Insurance Agent Success Stories
“I urge anyone in the financial services business to get involved with the Insurance Pro Shop. Whether it’s from Lew, Jeremy, or Alex the training will get you on the way to reaching your goals as a professional in the industry. They don’t “sugarcoat” what they teach. They are straightforward with their approach to training. What I’ve learned is that there are some “basics” to learn in this business and if you don’t learn them you’ll probably experience what most professionals in the industry experience; mediocrity. Lew, Jeremy, and Alex at the Insurance Pro Shop will teach you the basics of attracting the right prospects and how to ask the right questions to help people with financial problems.” John Dandridge, IL (11 years in the business)
“Hi Jeremy, I just want to thank you for your help in completing a financial planning summary. I recently finished the Trusted Advisor program and immediately put the training to use. It worked just as you, Lew, and Alex said it would. I just have to remember to get the client emotionally involved. Let them identify their problems. And then give them exactly what they want! It really was easy. I want to thank you and look forward to many other interactions with you.” Rudolph Corrales, Jr., CTA, CA
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Nothing Will Change Until You Make it Change. Learn How To Help People To Buy More Insurance – To Sell More Insurance – To Make It Change!