Special Challenges in Selling Life Insurance

Not everybody gets sick, crashes their car, has their house flooded, or lives through a home fire. But eventually, everybody dies. This makes life insurance the one type of coverage everyone will probably need at some point. Still, it’s not easy to sell life insurance. Here are a few special challenges that life insurance agents face—and how to overcome them.

People don’t like to think about death. Let’s face it—the US has a youth-worshipping culture. We don’t like to think about death—and you’d be surprised how many delusions there are out there about the prospect of one’s own death. For instance, your prospects are likely to believe they’ll live a long time—no matter how old they are—and will have plenty of time to save to cover their own funeral costs. Gently trying to get clients to see reality and the need to plan for end-of-life issues can not only help your sales, but help your clients.

The age factor. It’s not uncommon for prospects to object to buying life insurance because of age-related issues. You can see why someone under 30 might be reluctant to spend money on life insurance, even if it’s a good idea—a younger adult may have less disposable income, and death may seem very far away (and hopefully, it is). Older prospects, on the other hand, may also believe they’re “too old” for life insurance. As an agent, it’s your job to persuade younger prospects of their needs even now—and to show older prospects that they, too, can afford the life insurance they need.

The customer doesn’t see the need. Often, prospects believe they will be able to save enough by the time they die to take care of their families—still, if the worst were to happen next week, these prospects may not have the savings in place now. And others may believe they have family members who can take care of children in the even that they die—and they can provide for children in their will. Getting prospects to see that is part of the life insurance agent’s job.

Selling life insurance isn’t easy. But it’s important to know the most common customer objections—and those specific to this industry—so you can plan accordingly for when they come up in sales discussions. Check out Senior Market Sales and Greenbook.org for further information regarding overcoming the challenges inherent in selling life insurance—and hopefully, you’ll be able to improve your selling skills.

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