6 pitfalls to avoid when selling end-of-life insurance

The insurance business is big and broad, but one of the easiest things to do is the final expense.

Leads are easy to come by, fees are high, underwriting is easy, commissions are good and you get paid within days, but you’re dealing with some sort of prospect on top of the challenges of starting and running your business. There are many ways to stumble, but if you can avoid these six pitfalls, you’ll rise above the competition.

1. Plug into the Matrix and don’t drag Neo

Investment is one of those things that you need a plan to invest in, a mentor to follow and a platform to replicate. Life insurance is built on leadership for a reason. You need a climbing line that has lit a path ahead of you. You should have articles, presentations, proofreading, proofreading, and more.

The Internet is full of words. Coaches and gurus are clamoring for you to listen. Use this guide, ask these questions in the house, but you must block all other words and focus on the system you are connected to and remove.

2. Buy leads and put the difference

This isn’t exactly what Dave Ramsey would say, but investing is a very sophisticated business, so you should have a weekly budget.

So before you pay your phone bill, before you pay off your mortgage or throw money at your car payment, make sure you shop for the week’s advanced products. Leads are very important to any business, but this is especially true for an end-to-end financial aid provider. Learning to budget, give every dollar a name and live within your means is a skill that can make or break your last financial aid provider.

3. You control the clock, so that it stops

Although there is no supervisor to ensure that you wait 40 hours, it is a good idea to tell your boss if you are late. Guess what? You are the boss! People become insurance agents for a variety of reasons, but flexibility and freedom should be near the top.

So you have to be careful, or it will be easy to stay late and hit the field even later. Maybe the prospect of disappointment turns your game into a nightmare and you decide to go home early. This may sound basic, but make a schedule and stick to it.

4. He doesn’t have two coins to rub

I hope you’ve learned not to judge a book by its cover. This is especially true when navigating shallow waters and houses full of cats that are expected to cost a lot of money. Sure, they don’t have a lot of money, and they’re probably renting the couch you’ve been on, but they’re with you for a reason. They do not want to leave such property to their daughter when she dies.

So make sure you show them premiums that are high enough to pay for their funeral. They’ve been around the block for a time or two. They know that this is not a free gift from the government. They have to pay for the pipe so that their children don’t pass the dishes. So show them the $60, $80 and $100 options. You can always go back, but you can’t go up. Their family will thank you, and so will your pocketbook.

5. To be or not to be, that is the question

Hamlet may be required to read in some schools, but your last financial prospect hasn’t heard this in years. There are some important questions that need to be asked.

Why are you there? You have to uncover a need before you get into anything else. Unless you’re knocking on a cold door, you entered the door because the prospect responded to some type of lead source.

There was something that tugged at their heartstrings as they read the ad. Many people respond to advertising because they don’t have insurance and just have to find something. Or maybe they have a little insurance, but know they need more. Or maybe they have everything they care for, but want to leave a little something for their children, their church, support, etc.

“Which of those reasons did you bring me out here, Mrs. Mary?” Do not proceed until you have a clear and concise answer to this question. They will tell their hot, button story. Now you know the problem you are trying to solve. If you don’t get them to divulge these concerns, you’ll hear the harsh criticism of “I have to think about that” in the end.

6. All my bills are paid on the 15th of the month

Not this bill. The last hope for income, in general, is Social Security or government-sponsored disability. The government can’t balance its budget, and it takes years for them to do anything, but they always get the officials their money on time.

Seniors on Social Security or disability receive their monthly payments as clockwork on the same day each month. If you tell them that their salary will be released on the third day of the month, they may object. “Can we let it go out on the 5th?” I just want to make sure the money is in there. ” In short, they are telling you a story. What they are really saying is that they want to spend all their money first, and if they have any money left over, they will pay the monthly insurance bill.

Don’t give them a chance. Consider sales. Tell them the preparation time is coming up. If you don’t make something great, it won’t be great. If they object, hold the line. If you don’t, expect the service to be returned next month.

Final expense expectations add new dimensions to the insurance industry, but it’s an underserved market. Statistics show us that in the next 15 years there will be 10,000 retired babysitters every day. We are blessed with the opportunity to solve the great problem of our expectations.