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Tips for Selling Insurance Successfully

Selling insurance is perceived by many as a very difficult task. Though there may be some truth in that, it is actually easier than most people think. All it requires is the ability to understand your customer and show how your product can meet their needs. This means that there isn’t one accepted method of selling insurance. Most agents have their own distinct strategies of making their sales pitch. However, there are some general attributes that every agent must possess in order to sell successfully.

See Also: 6 Important Insurance Policies for Businesses

1. Know Your Products Well

Before selling insurance, take time to learn your product thoroughly. In addition, you need to be familiar with other alternative packages that customers can choose from. For instance, if you are selling medical cover, you should know off the top of your head what illnesses are covered under each package. Knowing your products well will allow you to make your presentation without having to constantly refer to your notes. You should especially be very conversant with the legal and tax aspects of your packages. Being able to answer your prospects’ questions quickly will make it easy to win their trust.

2. Learn How to Prospect

To succeed as an insurance salesman, you need to learn how to prospect. Prospecting refers to the process of generating leads which can be later converted to customers. Some of the most effective methods of prospecting include writing articles, speaking at conferences, joining associations and clubs, asking for referrals, and attending seminars and workshops. The better your prospecting skills, the higher your chances of generating more leads and making more sales.  

3. Follow up Leads Promptly

The insurance industry is becoming increasingly competitive. There are probably dozens of agents out there trying to reach the same people on your prospects list. This is why it is very important to follow up on your leads as soon as possible. The sooner you make contact, the higher your chances of closing the sale.

4. Ask the Right Questions

To convince prospects that they need what you are selling, you need to ask the right questions. The kind of questions you ask could make the difference between making and losing a sale. For instance, if you are selling life insurance, you could ask the prospect ‘If you lose your life today, how will your family sustain itself?’ If you are selling investment plans, you could also ask your prospects what their future goals are and show them how your product can meet their needs. Be sure to listen carefully in order to identify the actual needs of the prospective customer.

5. Learn How to Handle Objections

Most insurance agents usually face all kinds of objections from their prospects. For instance, someone might say that they don’t see the need for medical insurance and yet they have enjoyed good health for many years. Don’t make the mistake of getting into arguments whenever an objection is raised. Instead, take time to empathize with the prospect and then ask for clarification regarding their objections. You can then offer an objective solution which would be satisfactory to that client.    

See Also: Guidelines for Buying Business Insurance

When it comes to selling insurance, there is always room for improvement. You can learn a lot by reading books about selling insurance, as well as networking with other successful sales people.

Can you think of any other tips for selling insurance successfully? If so, let us know in the comments section below.

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