Life insurance marketing can be a challenge to many agents. After all, how do you sell something so intangible and abstract? No one thinks about their own demise, after all, but the truth is, life insurance isn’t about the person getting it, but rather, what will happen to his or her dependents once they pass on. If you think you can’t sell more life insurance, think again. This type of insurance might be challenging to sell, but it can be quite rewarding. Compared to other types of insurance, this type of policy may be the most important one you sell to a client. Other types of insurance protect assets like homes and cars, but a life insurance policy can actually help secure their family’s future and you should be proud to know you’re helping clients by offering this product. So, if you want to know how to sell more life insurance, read on.
1. Learn About Your Customers
It was the great Chinese general Sun Tzu who said “If you know the enemy and know yourself, you need not fear the result of a hundred battles.” Of course, trying to sell more life insurance isn’t like going to war, but you should get to know your customers before you offer them anything.
Why should you get to know your customers? Because this will help you in all aspects of customer acquisition. Who your customers are should drive all your insurance marketing activities. After all, you’ll want to know who they are, so you can figure out what they want, what types of messages they respond to, and of course, how to best reach them. You might even want to go further and create buyer personas for your client or different types of clients. By really drilling down and getting to know who your market is, you can tailor your messages to appeal to them, then attracting them and writing more insurance policies.
2. Consider Business Clients
Many agents think about selling life insurance on a one-to-one basis. After all, you want to get to know your clients and find out their wants and needs. However, if you want to spend less time selling individually, then you should consider business-level clients. Many companies, both big and small, offer life insurance policies to their employees as perks, or on a discounted basis and debited directly from their salaries.
If this is something you can put together, then you should consider doing this for many reasons. First off, this can really cut down on your customer acquisition and retention costs. Think about it – you don’t have to talk to all your potential clients on an individual basis. You can give the company the necessary information and have interested employees contact you for questions. Second, this is also less stress on the clients. Because they can get their life insurance through their company, it can be as simple as ticking the right box on their HR forms and forgetting about it.
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3. Connect on a Personal Level
This may seem like a no-brainer, but connecting on a personal level can help you sell more life insurance. As we’ve said many times before, insurance really is an intangible concept, which is why not many people really understand what it is. There’s no physical product, especially with life insurance. That is why clients always seek to connect with what they can see and hear and in this case, this is you, the insurance agent. Aside from just projecting the right image, you also need to be able to connect to them. They need to be able to trust you; after all, if they are leaving the future of their loved one in your hands. Clients want to know that when the time comes and they are no longer around, their family will be safe and secure.
4. Cross-sell to Current Clients
If you haven’t done this yet, then you should definitely cross-sell life insurance to your other clients. Of course, you may be thinking that you don’t want to annoy your auto or home insurance clients, and that’s perfectly ok. That is why you need to do it right, and it’s often all about timing.
For example, don’t just go for the hard sell and call them up out of the blue to sell them a new policy. But, you need to be maintaining a good relationship with them, talking to them and getting to know more about them. While this may seem time-consuming, this will pay off in the end, because then, you can tell them about the benefits of life insurance when they’re ready. For example, imagine that a client tells you that they need to get a new car insurance policy because they’ll soon be buying a larger car for their growing family. This may be a good opportunity to tell them how life insurance can secure the future of their children. When you do cross-sell to clients, make sure it makes sense, otherwise, you may risk alienating or turning them off.
Selling life insurance isn’t easy for many agents. After all, death is a sensitive topic and not many people want to talk or even think about this subject. However, aside from just making more sales, selling more policies is also about helping people. There are many people out there who don’t have coverage or enough coverage, and they might not even know it. As an insurance agent, you want to make sure they have the proper life insurance coverage to protect their families from any unfortunate events.
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